Is Bitstream Circle a scam? I’ll go ahead and not waste your time, the platform is a get-rich-quick scheme. This is yet another elaborate scheme targeting young people looking to get into the cryptocurrency scene.
I can’t find a lot about the scheme on the internet apart from a few videos on YouTube promising to ‘make you a stable income by earning daily’ trading cryptocurrency which is the first red flag.
RISK-FREE: The second red flag is the videos promise you ‘zero risk’ while investing your money. Making money requires taking risks, Morgan Housel, the author of ‘Psychology of Money’ argues in his book.
The third red flag is the percentages, on Bitstream circle, they are guaranteeing you 5-10% profits daily, how? apparently what you are trading in is a make-believe simulated crypto market, they then send you crypto signals on Telegram telling you when to buy and sell, very sus. Cryptocurrency trading does not work this way, no real trading works this way.
And of course, lest we forget the good old Ponzi game — invite others to get free money! Check out other Ponzi Schemes I predicted would collapse and they did.
I didn’t put in any money to test out the platform, I didn’t even sign up, I would suggest you also don’t.
Crypto is not a get-rich-quick scheme, you can not make those percentages daily with no risk. In fact, think long term when you hear cryptocurrency, Do a lot of research, evaluate the fundamentals of crypto assets you plan to buy, and invest what you can afford to lose (you can lose). Factor in your risk appetite. As always, avoid unknown platforms, buy crypto on platforms like Binance, avoid acting on random tips and FOMO (fear of missing out), oh and again, do your own research.