Experience is the best teacher of all, therefore, most of the content of this write-up is fueled by my bitter experience with internet fraudsters.
One of the key elements that drive a person into wanting to make more money without stress is greed or lack of contentment. The psychology of an average human is such that it would want to escape poverty by all means possible. This is the reason humans fall into the hands of online fraudsters.
The major victims of internet scams are poverty dreaded individuals who are desperately seeking an escape route out of their predicaments. The person who feels that they could escape poverty overnight is of all men most miserable.
The most common word used to surmount the susceptibility of people is INVESTMENT. A juicy package of high returns on investment will be presented with a popular saying "let your money work for you" this heavy return on investment(ROI) say 20%, 50% among others in a month or less than a year will push the greed elements in you to invest. Before you could realise, your money is gone. The fundamental scope used by this platform when folding up is that they are undertaking maintenance on the site, while Others will just abandon the platform with a promise to make refunds.
The activity of internet fraud will continue to persist till people realise that wealth is not an overnight enterprise. The wealthy ones scarcely fall victim. This hoax has taken various forms and shapes but whenever it comes, people must be a victim.
Some years ago, when MMM was a popular investment platform in Nigeria, where almost 50% of the population invested huge amounts of money, and it was the talk of the town, suddenly the system crashed with billions of people's dollars lost. According to information, 18 billion dollars was lost.check Depression set in, while others lost their lives.
Notwithstanding, not too long, other Ponzi schemes sprout forth and still tour the same line, yet people don't want to learn. It's a pity.
It is very important to be careful about crypto fraud, as many companies have come in the name of different cryptocurrencies and tokens and have done away with people's money. Everything is possible in the space, so you need to be vigilant and watch your back.
Remember that not all investment platforms are into fraud. Some genuine ones are not likely to fold but in case it does, they can be held responsible and sued.
Think about companies that sell goods or services, they are likely to stand the test of time.
Think about a company that is fully registered and recognised by the government and is being regulated by the government as well.
Think about decentralised finance(DeFi) platforms like #hive and any other web3 technology that is not subject to backend manipulations.
Invest right and don't let greed lead you to be a victim of fraud.
I believe that this writing has been valuable to you. Stay safe and have a rewarding day.
Thanks for stopping by.
