Good afternoon/morning ,
I hope all is well on your end .
First off since being back to full time work the crypto-blogging has stalled for me , my interest or activity In crypto has not changed . Have take a keen interest in decentralized finances or de-fi of cryptocurrency as a means of passive income . For a few months now I have been testing various wallets and platforms . Yes some are flat out scams and some are slow pay outs , with that being said there are definitely a few gems that will be something You would want to be involved with as they grow into 1B dollar businesses .
I will start with the scams I came across the big one as of late was staked wallet . It started a few months ago with a massive (and expensive) advertising campaign on internet even live broadcasts on Facebook , the adds were very clean and professional and set up the in a modern fashion promising huge interest on crypto deposits ( first red flag ).
After seeing them for a month I thought what the heck! So I deposit a low preforming coin and giver a try
Some Litecoin would work , I know it won’t jump up in price and if I did loose it would be a loss of the current value
After I deposit it the app right away shows interest being earned so with some quick math I determine I will double my deposit within 60 days (second red flag) . I check every day and sure enough it is compounding , I think wow how does this work ?? They just dumped tons of cash on the adds and now they are dumping even more on the interstate payments to the depositors , where is this cash coming from ? The answer is no where , it doesn’t exist and never did . As soon as you deposit the coin is gone , from the start there were troubles with withdrawals . More on that in one minute, so one fine morning I wake up to the StakedWallet frozen like the picture .
After some investigation I find they moved the web site to a different domain from .io to .biz ( third red flag) . Seems everything is fine on the new web site , not realizing the “wallet” is fake at this point . Then a few days later the whole StakedWallet website and social media profiles vanished . Exit scam !!
Upon searching the web for answers I find out some people lost way more one person lost quite a few ethereum which made my lite coin look like spare change .
So I lost some litecoin ! I took the risk and knew it was on shaky ground that’s why I used litecoin and not bitcoin . Which goes to the second golden rule of crypto “do your own research “ and of coarse we all know the first “ not your keys not your crypto “ more to come ! Have a wonderful and blessed day