Back in 2016 revenue share sites were a rage, even now I am seeing it. Every alternative advertisement on PTC ads was of a revenue share site. I was new to cryptocurrency then and thought it to be a long term stable earning platform. I did a lot of research and decided on 2 sites which were most famous those days- My paying ads and my Paying cryptoads. The first on was dollar based and the second one was bitcoin based. Then further I decided to join My paying cryptoads only as I did not want to open account in Payzaa or Payeer or something similar.
Thus began my journey with revenue share in Oct 2016.
I was highly excited as I had found an alternative regular revenue source apart from the traditional sources. I jumped into the bandwagon. Someone by the name Uday Nara of India was running it though from Singapore. They had a lot of clients and a highly active FB page.
First I started small to get the feel. I invested small amounts of bitcoin and started buying adpacks and viewing there ads. Then I re invested my incomes to buy more adpacks to increase my earning. In between I also withdrew occasionally. But my focus was mainly on maximizing my earning.
In FB pages and YouTube channels people were going crazy getting referrals and posting there earnings and praising the site. I was deeply involved in it, following those You tube channels and FB to find out secret ways to increase my earning on this site.
They had a gala meet at Singapore in Feb 2017 I think to celebrate 2 years of there site. But from about a month back tell tale signs of something going wrong started flowing. Withdrawal timings started getting extended. But as the gala event was there so most thought that things are going fine and it must be some type of technical or temporary glitch.
But after the event things started deteriorating fast. More people started complaining about delayed and not getting withdrawals. Uday Nara used to do regular FB live sessions to pacify that everything was fine and things will be OK. Most believed him as older members who had made the most out of this site made YouTube videos praising his business acumen.
More and more complains started floating around, people said he is giving payments to locals of Singapore so that there is no police complaint against him. But anyway from march 2017 it became quite clear to most that the end is soon, as for all revenue share sites. All started placing withdrawal requests and no one was getting paid back. Now those who were praising him before also were victims.The FB page got flooded with complaints and no response from the Company side.
I was in doldrums, though I had withdrawn some of my investments but the chunk of it was still there along with my time and efforts. Approximately 2 .25 BTC having value of INR about 10,00,000 was still stuck and it was more than a big amount for me. I felt helpless, I searched the net and found numerous cases of revenue share companies gone with customer funds and none were convicted ever.
I lost hope.
But whatever you say, Luck or God or anything else, The Govt of India came to my rescue in the most unknowing way. News started flowing that the govt is going to ban crypto currency in India. This continued for a few months and ultimately it was confirmed that it is going to happen. Also during this months the bitcoin price started its bull run and was on its way to make an all time high.
I joined the dots and decided on my course of action. I had a few bitcoins in my wallet. I decided I will sell them to make up my loss there so that a at least I can get out with no loss no gain, or minimal loss. I kept tracking the bitcoin price and then sold them.
I did not get the highest point to sell, nobody does. Then I did my math and I calculated and found that over all I had no profit and a minor loss which was digestible. But I regretted a lot, if only I had kept those bitcoins in my wallet instead of revenue sharing I would have almost doubled my money.
I learnt some big financial lesson of my life.
Companies running on crypto seen on PTC sites are fake mostly and even if not will die after some time along with customers hard earned funds.
For a steady income source the traditional ways are the best.
Never invest more than what you are willing to lose.
Don't be greedy.
Never invest your money in these type of sites, only re use what you can earn there.
Even now I am in 1 revenue share site, but only to see what new sites are coming up and what new business model they are using.
This post who so ever new to this field reads, please take lesson from my experience and don't make the same mistakes.
And,
Uday Nara sitting somewhere while reading this post must be checking his wallet to see how much bitcoin balance he has now from the earning by swindling people - and chuckling, it was a worthy effort.
Nice