Chain Group

Bradley Fisher asked 2 weeks ago

Morning , Brad here from South Africa. Do you think Chain Group is a Good long term investment. I haven’t heard any bad reviews from them thus far. trying to make a good decision and getting allot of mixed emotions now.

2 Answers
Steven Hay answered 2 weeks ago

Hey Bradley,
 
Howzit boet!
 
I think Chain Group is a scam… They take your money to apparently fund professional traders then give you a share back? As much as 10% per day? Nope, that doesn’t make sense at all!
 
Any trader who could reliably make profit (and almost none can reliably make profit!) wouldn’t need outside funding. They’d be a billionaire within a few years tops, even starting out with a tiny amount like $100.
 
To me this looks like a classic Ponzi scheme. What they’re really doing is taking whatever money you invest today to pay the people who invested yesterday. If new people come in tomorrow, you might get your money… but once new people stop coming in, the whole thing explodes.
 
Buy and hold Bitcoin instead – but never invest more than you can afford to lose.

Steven Hay answered 2 weeks ago

Bradley, I forgot to mention something. Check out our guide to spotting scams:
 
https://99bitcoins.com/bitcoin-scam-test/

Bradley replied 2 weeks ago

thank you for your input, i will keep that in mind and do more research in the future!

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