Here is an update from the Bitcoin Minning website. Please read and create an impression before we review this site.
We have amazing bonus for all our active investors and in this Period, Bitcoin-minning.com brings to you the best investment opportunity .
We wish to make our investors get a maximum profit and enrich our investors who are willing to take the great step of meeting up with the AAP Scheme .”
Commentary: Did you notice that the emphasis seems to be on enriching the investors. It is just as if they’re there to make the investor rich in an altruistic sense. Scammers always lay emphasis on the urgency of the matter and this fraudster did not disappoint as we shall see. The update continued:
“This scheme is only available for a limited time and to those that makes[sic] up with a one-time investment of just $500.00 into the forth plan.
When you make this deposit, you withdraw a 300% profit of the deposit after 24hours
Which is aside from your normal investment profit
This scheme offer will be available from now till 15th of October, 2019
This is our way of appreciating our investors and we inform them that we will have an outstanding year of bigger success just believe and trust in the platform
And Investors that have unfinished processes should kindly make up and complete their initial process
You can always chat our online agents for more details about this Project.
Thanks for your Coperation!
A Typical Scam Release
It has become obvious that scam is an art which the practitioners painstakingly learn or copy from other sources. This is the reason why when perfected, it could yield the crooks behind it a lot of profit.
It is also a reason why many are embracing the crime since it seemingly is an easier way to make a living than honest work.
Be that as it may, we can learn the mindset of the scammer through the above update. Note that they appeal to emotional need of the investor. They’re aware that most people would fall for the no-work, much profit concept so they readily projected this with the ‘amazing bonus’ concept.
Why People Fall for Scams
Every savvy investor would know that this is a clear scam, so why do people still fall for such?
The first reason is greed. There are many people who are just like the scammers looking for easy ways to make money, but they are morally more responsible, so they wouldn’t dabble into scams.
When these people see such ‘opportunities’ as presented above, they quickly embrace them as an honest way to make profit thereby falling for the trick of the fraudster.
Another reason is ignorance. In the days when I knew little about Bitcoin, I made a search on how to earn bitcoins and came across the so-called Bitcoin generator sites. These sites were common in those days and they promised people that they could generate bitcoin for them with a click of a button.
The scam was so elaborate that it had bots act as people who have made profit from the site. I was quite excited and would have made deposit to redeem my bitcoin (that was the condition) but I couldn’t for reason I cannot recall lay my hands on the funds to make the payment.
In retrospect, I think I actually wanted to borrow from someone to pay the scammer.
When people are not informed about what they’re about investing in, they can become easy prey for scammers like the owner of Bitcoin Minning.
Do It Now!
This is another feature of fraudulent propositions. They are packaged to elicit a sense of urgency with the target audience. This is why they made it obvious that the offer is available for a ‘limited time’.
The SEC stated on their website that one of the red flags to watch out for in scams is:
“Pressure to send money RIGHT NOW. Scam artists often tell their victims that this is a once-in-a-lifetime offer, and it will be gone tomorrow. But resist the pressure to invest quickly, and take the time you need to investigate before sending money. If it is that good an opportunity, it will wait.”
The Quest for Legitimacy
Every scammer wants to gain trust and be seen as reliable. This is what Bitcoin Minning hopes to accomplish by quoting Dan Morehead, the Pantera and Bitstamp CEO on their website.
For full measure of credibility, they also added his photo to their site to create the impression that he is affiliated with what they are doing.
This quest for legitimacy is the reason why many scam sites go the extent of registering their companies and displaying the certificates on their sites. They’re aware that there are many that think that company registration is a stamp of legitimacy.
Other scam sites add images of people that they have stolen from other sources and create fake identities to represent the owners or operators of the business.
High Yield Investment Scam
One of the greatest assets of scam sites such as Bitcoin Minning is the lure for quick profit that most people have. You can see that the site offers mining plans that promise to pay up to 350 percent in 72 hours.
Despite the fact that common sense should tell everyone that this is not possible, the innate need for gains in people is the reason why they fall for this trick over and over again.
I’ve been there because I once nearly lost my money to a scammer that advertised a car at nearly half the market price. God’s intervention made my transaction to be reversed.
This is another trick employed by scammers in their bid to gain trust. They mostly register new domains, set up the site but claim that they’ve been online for years. They know that people would trust sites that have been online for longer periods.
Bitcoin Minning claims it has been online for 938 days, but records from Whois shows that the domain was registered on July 19, 2019 which is less than 90 days.
Scammers don’t care how hard you worked for your money and how long it took you to save them. Their primary interest is to steal it. This is why you must be careful with sites that you invest with.
Genuine investment sites give you all the information necessary to make informed decision. They show you the risks involved in the investment and they help in what ways they could to help you make profit. For one of such sites, check our top recommendation.
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