There are many investment platforms that target new users of cryptocurrencies to scam them. There is no doubt that Onecash.ai is one of them. This is why you have to be careful before parting with our digital currencies, especially if you are a new investor. There are many ways to earn through crypto assets but you have to strike a balance between what is plausible and what is not.
This is the reason why it is important that you learn about cryptocurrencies and the blockchain technology that drives them, if you’re interested in becoming a crypto investor. It is also important that you check the background of the companies or websites that you are dealing with before parting with your funds.
How Frauds Work in Crypto Space
There are several ways that fraudsters steal funds from investors. Some are very obvious but many people still fall for such scams because they are not well informed. Others may be more discreet that even experienced investors may not detect them as scams.
What is Onecash.ai?
Onecash is an investment website that promises to pay the investors depending on the plan that they chose in their investment. There are several categories of investment with which the investor can make money, according to the site. However, a scrutiny of the plans show that they are not realistic returns.
According to the site:
This is a Discretionary Managed Account whereby OneCash has full authority to manage according to a specific investment mandate. “Balance” is defined by buying underweight and overweight assets or selling them in correct proportions in an effort to bring you closer to the target allocation appropriate for your risk profile. Diversification and asset allocation do not guarantee a profit, nor do they eliminate the risk of loss of principal. OneCash does not guarantee any level of performance or that any client will avoid losses in the client’s account.
Why You Cannot Trust This Site
Most of the content on this site have been plagiarized from another site, Stash. Even the images are from the same site. This is an indication that the owner doesn’t is merely interested in deceiving the investor. If they’re deceitful, you have no assurance that your funds will be safe with them. Moreover, plagiarism is a serious offense and those that engage in it cannot be trusted with people’s funds.
What we can see from Whois is that this is a relatively new site that has no reputation. You have to be aware that scams are set up daily and the essence for which the fraudsters do this is to create the impression that there is money to be made by the investor. At the end of the day, scams generally benefit the fraudsters behind them.
From the plans available at Onecash, you can see that they claim that you could earn 102.5% in 24 hours or higher.
102.5% after 24 hours, min. deposit $25
110% after 3 days, min. deposit $50
120% after 5 days, min. deposit $100
All these are unrealistic and an indication that you’re dealing with a scam. No business has the capacity to double your money after 24 hours. This should be a red flag, but many new investors are not aware of this.
Fraudsters usually use high ROI to attract investors. They’re aware that there are many people that desire quick gains and so lure them with high returns. You have to be aware that if the expected rewards are too high, the risks associated with such investments would be high also.
The owners of the investment scheme are not known. It doesn’t really make sense to send funds to faceless people who you do not know their antecedents.
Cloned Another Site
Onecash is basically the clone of another website, Stash. This is a dubious behavior that is used by fraudsters. According to SEC Investor Advisory:
One of the most common gimmicks con artists use is to promise investors that they will make a lot of money in a short period of time – that they will “get rich quick.” Con artists may trick investors into believing that they will make tons of money with little or no effort
In summary, you must not send your funds to this site. There are better ways of staking your cryptocurrencies and earning here.