The Monday July 9th Edition of The Cryptocurrency Novice Report

in #cryptocurrency6 years ago (edited)

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Welcome to The Cryptocurrency Novice Report for Monday July 9, 2018.

Word to the Wise

Today on Word To The Wise, we take a look at a new investment site called Money Program.

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Money Program is a newcomer to the high interest paying investment field. In fact this is their first day online.

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But what they lack in experience, they more than make up for with promises of instant wealth. Offering a variety of investment plans that pay as much as 3500% interest after 24 days.

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And while their website is riddled with poorly worded statements like this one, you should be able to rest easy knowing that they are a registered UK company.

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Or should we? Maybe it would be a good idea to take a peek at their registration information on the Companies House website just to be sure. Well, right away we see several red flags. A company name that does not match, an incorporation date over three years ago, and a Business code that does not have anything to do with financial services.

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If we look at the list of corporate officers, we see what appears to be the names of a husband and wife. This is starting to look more like a small mom and pop shop and not at all like a high stakes investment firm. Why it would not surprise me a bit if the corporate headquarters is really just the spare bedroom of a quaint little cottage.

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As a matter of fact, I think I will check Google Maps Street view and see what their corporate offices look like since they proudly post their address.

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Just as I thought, it is a quaint little cottage. Then that would mean that this is not the Company Registration of a high powered investment company with dozens of employees as the Money Program website claims, but is in fact a SCAM! That's right folks, Money Program is just a bunch of crooks looking to steal your money. They will not pay you 3500% interest in 24 days. They will just take your money and disappear.

Money For Nothing

Today's Money For Nothing is a chance to earn PAI tokens from PChain just for registering for the airdrop and referring your friends.

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Just click the link and complete your registration. Then give your referral link to your friends so they can sign up for the airdrop. You will need an ERC20 compatible Ethereum wallet to claim the tokens.

If you don't already have an ERC20 Ethereum wallet, you can get one from MyEtherWallet.com for free.

PChain is the world's first native multichain system that supports Ethereum Virtual Machine making large scale blockchain applications viable. Pchain is already actively traded on several markets and is listed on CoinMarketCap. You can learn more about Pchain and read their White Paper at their website, https://pchain.org/.

The Report

The cryptocurrency market has eked out some small gains over the weekend. Currently the broad market is worth $272 Billion, up about $5 Billion since last Friday. Here's a closer look at how our favorite coins are performing.

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Currently Bitcoin is trading at $6787, down 0.2% since this time yesterday afternoon.

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Steem is trading at $1.50, down 5.4% in the last 24 hours while SBD is trading at $1.24, down a whopping 16% since this time yesterday.

On the Steemit Market, the price of Steem is trading for 1.251 SBD. This is a little over priced as even with the massive drop in the value of SBD, Steem should still only be about 1.21 SBD.

The supply of liquid Steem has remained very stable over the weekend, rising only about 60,000 Steem. Currently the liquid supply is at 78.56 million Steem.

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PChain is trading at $0.066 currently. This is down about 2.7% since this time yesterday afternoon.

Please note: I am not an investment professional. The information I present here is only my opinion. I do not encourage you to invest in any coin I mention, especially those featured in the Money for Nothing section, since most of these are not going to make it and may even be a scam. I only suggest you claim the free airdrops offered, nothing more.

Until next time...

Proud member of @qurator! Click below to find out more about this fantastic Steemit community.

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Hope I get a lot of Pchain from this airdrop! Thanks for the link.

Well they seem like they really need the money to built that house ;)
lolz

It is really hard to say which is fake and which is real by the new users.Hope they could get to stay away from these kind of sites !

That's good advice I wish all newbies would follow.

Well scammers first need to set up perfect office lol hahaha

It is a pretty little cottage. I would like to have a home office in it. :)

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BTCBitcoin6783.000$-0.24%2.77%
ETHEthereum480.919$-2.29%1.74%
PAIPCHAIN0.065$-3.39%-15.81%
SBDSteem Dollars1.237$-16.12%-2.86%
STEEMSteem1.504$-5.45%-10.26%

Coin Marketplace

STEEM 0.36
TRX 0.12
JST 0.039
BTC 69735.97
ETH 3533.64
USDT 1.00
SBD 4.72