He who has an ear, let him hear.
The
Internet is full of Bitcoin investment… Bitcoin Investment. Is it real?
My master invested in Bitcoin online without telling
me. He got a small return, and then put more and more money. The website has
gone offline since, and the “more” money he pumped into it has been lost.
There’s no-one to call.
A lady in our church invested in Bitcoin. She got
some money initially and invested more money. Till now, she’s yet to get
anything back.
An online friend sent hundreds of dollars to invest
in Bitcoin and he later found out that he sent money to scammers.
Internet criminals cannot be traced.
Who
make money from Bitcoin investments?
Answer: Scammer and organizers of Ponzi scheme using
Bitcoin profits to lure people.
Exchangers who buy low and sell high also make
money.
What
about Bitcoin mining?
Bitcoin mining involves validating transactions and
providing security for the public ledger, known as the blockchain. This process
requires extremely powerful and expensive computer equipment. The mining scams
typically involve orders for equipment that are paid for in advance and never
delivered.
Even when if it’s delivered, you discover that the
mining equipment is rubbish. If it’s easy to mine Bitcoin and make money,
everyone would be doing it.
Aren’t
there legitimate ways to make money from Bitcoin?
Answer: There are only two ways I know where you can
make money from Bitcoin.
You can buy Bitcoin and hold it forever, hoping to
make money only if price of Bitcoin goes upwards. If price declines, you lose
money. If Bitcoin disappears, your money disappears. Period.
You can also make money through Bitcoin by actively trading
it. You can speculate on the direction of the market – whether up or down. You
can make money or lose money by doing that. There are some money managers who
are also investing in Bitcoin or trading it; and they can do that in your
behalf. But note that you can lose part of, or all your money.
Contrary to what some money managers may tell you,
there are no guarantees in speculation.
Anything
else?
The only two ways to make money from Bitcoin have
been mentioned above. Any other things pertaining to Bitcoin investments are
scam.
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