Double your Bitcoins! Triple your Bitcoins! Quadruple your Bitcoins! Thousands of users already paid! Just send your Bitcoins to us and we’ll double them every day through wise investments!
Sound familiar? We’d all love to double, triple or even quadruple our money without even having to do any of the work. Just imagine having your $100 investment turning into $400 while you sleep, or even over the course of a month.
Unfortunately almost all Bitcoin multipliers are bullshit. They draw you in with promises of multiplying your Bitcoin in a matter of days, show you a long list of real (hint: fake) payouts, and then run away with your non-refundable bitcoin. Sneaky bastards, huh? But there is hope!
Remember when I said “almost all” Bitcoin multipliers are fake? Well, some companies will actually invest the Bitcoins you send them and potentially turn them into a profit. The downside is they won’t offer to double your money overnight, or even over several months. It’s more like investing fiat currency into stocks, the returns can be big, but they may not be.
There’s even websites that crowd fund loans, meaning you and dozens of other people “loan” a certain amount of bitcoin to businesses, who repay the money with interest. Pretty neat, huh?
So, how do you know if a site is legitimate? Unfortunately there’s no easy way, but here’s some things to look for:
- Search reddit for the company you’re looking into, seeing what others have to say.
- Look into the company by reading their about page, determining yourself whether that company is legitimate.
- Do a simple Google search on Tue company name, chances are you’ll find a post from that one pissed off guy that lost all his Bitcoins.
Using this tips and some common sense (ex. Is it too good to be true?), you should be able to avoid any major pitfalls. And as with all investing, only invest what you’re willing to lose.