Bitcoin Forum

I recently stumbled on crypto based investment platform called allbullish and pennywise and am really skeptical about investing in it, the challenges of investing in most crypto investment platform is that most of this platforms lack regulations and continuity. How can one know a genuine crypto investment platform?

There are so many factors to consider before investing on such platforms/projects. Here's my list that I first check before spending my money for investment purposes:

• LEGAL DOCUMENTS - Of course, to know to validity and legitimacy of a platform, you should check if they are registered not only in a trusted web hosting platform, but also if they have any documents that proves they are good to operate. And with that, if ever they would scam you, you could simply make a case in its local government where they have registered.
  
• REVIEWS... FROM THIS FORUM - many reviews out there are often paid or just fake, there are even services in here that offers fake reviews on your stuffs. Hence, better check the forum's Reputation and Scam Accusation boards first so that you could have some insights from various crypto enthusiasts in here.
  

Just a piece of advice, stay away, don't get yourself trap on some fake investment platforms, in fact in this day and age, I don't expect anyone will still be patronising those shady platforms, believe me you are better off yourself,  just look for a reliable project and invest on it, this you can do yourself and monitor the growth, why throw money away to those hungry platforms that will fold up in no time.

I think you should listen to the advice of members here in forum and also do your due diligent on those investment platforms, most of them are usually scams, am speaking from experience, at the beginning they will appear to be legit and always pay on time but all of a sudden they will stop paying and disappear with your investment,
Even you see the one with good reviews it doesn't guarantee they are legit,  reviews can be bought, you should be careful not to fall into scam platform.

So, do you refer to those sites? https://allbullish.com/ and https://pennywiseinvestments.com.au/ both of them is SCAM

How come you believe on ponzi scheme project offering 21,5%/day, its to good to be true

https://i.ibb.co/wz2Mb8w/Screenshot-119.png (https://ibb.co/BCYq7vr)

If you see deposit xxx to earn yyy , xxx%/day then its scam and shouldn't be trusted

Here are some option if you want to get passive income:

• Staking on ERC-20 tokens
• Invest in casino bankroll
• Lending your money

But, they have risk involved so you need to think it.

I'm curious on the investment platforms you mentiined so I tried to make a small research to know them more.

>For Allbullish
https://www.scamvoid.net/check/allbullish.com/

>For Pennywise Wealth Management
https://tbbob.com/scams/pennywise-wealth-management-review

Well, I'm not sure if my reference match the one you pertain but most probably it is. Though the latter one is only proven scam so far, I would still avoid those two if I were asked. You know, trusting on new platforms is very risky because they can easily escape whenever they want since their reputaion is not yet important for them. They are willing to dump it once they reach the hype they wanted, believe me. So if I were you, search for better options and this time choose an older one or simply invest to a good coin and manage your own wealth :).

OP, what makes you skeptical is because you are trapped in an investment that is not actually an investment but a ponzi scheme, have you ever thought how a platform can provide more than 10% profit per day even large companies will go bankrupt if do this.
They only pay members from the other member's money who join later, If no one else joins, they will not have the funds to pay the members.

@op you should have already seen the hand written on the wall, this is a ponzi from all indications and the signs are right there in front of you but you chose not to see it,
who can give such high percentage per day!
and how long you think they will survive giving such amount!   
what exactly it is they are doing to generate the money to backup their claim!
Don't get scam bro, i just hope you haven't invested already because that will be a big mistake.

why would you use an 'investment platforms' when you can just buy tokens or use defi on your own?
there is no need for you to pool your funds into a single entity because you don't have enough capital. this is crypto, not stock markets where you need $200k yearly income to open an account.

First of all, if you have never seen it before then don't commit any amount of crypto you have or they require to invest. It's best that you have consulted and asked the people of the forum regarding this. And sometimes if your gut tells you to doubt it, there's nothing wrong to doubt it unless you have proven its legitimacy or its fakeness.

Documents and their proof of genuity through how the process they'll be earning. If the scheme is very simple and you understand that it's a legit source which could pay you interest or dividends, it's a considerable platform. But if you find the scheme to be too good to be true and is likely a scam, doubt it.

Why? Must you invest in these platforms? Why not Bitcoin? Why not Ethereum? Why not NEO? These projects that I mentioned will give you the best rest of mind either you plan to hold for long time and short time only, those platforms you mentioned aren't safe

Exactly, this is what I would do, back in 2017 I did use some of this investment platform and the result was not good, I use them because I was relatively new in crypto, didn't understand much about investment in tokens but now things have changed, I understand things much better thanks to this forum and other online site that educate us, better the op do the investment on his own instead of given it to scam platform.

Every project that has been traded and live usually have lack any regulations. I think you just need to search wisely the element of a proper project in terms og technical aspect and financial state. Of course there is always a risk to everything. Not familiar with those projects.

Are they already been traded on the market?

I don't know any of these projects you mentioned and after reading few comments it's almost same thing with others, I suggest you stay away from them, pick well know projects and platforms instead

Look at others posts. They already found out its a scam. You could have done that too with a quick google search (but for some reason you didn't  ::) ). You can see how unbelievably stupid their offers are. Lol, 17% daily profit if you invest 100 USD for 7 days? Only stupid people are going to fall for it.
It clearly shows it is a ponzi scheme or just one time scam where as soon as you invest, you get nothing back at all.

Most of the so called investment platform that comes up in ads are scams. There are a few that actually pays you interest on your coin holdings but the rate are low as they need to make profit to pay you. Binance, NEXO, Celsius, Youhodler are some safe investment platforms. None of them provide over 1% a month. You can also invest in bankroll of casinos which profit ranges about 12 to 18% a year but you should be able to resist the urge to gamble.

I have heard of pennywise but that is for penny stocks (micro stocks) that I guess you could say is the traditional stock market equivalent of all the crypto alts with super low market cap:)

You can't really know genuine,,, but if they have a registered company that you can look up, that is a first step:)

How do I invest in those platforms please?

well I totally agree with what you say because in my opinion the choice to keep something different but has a very high value and demand will make the price always go up in price, having ideas and choices like that is a very smart choice.

Most of these crypto investment platforms are fake. They do not provide any value to the investors. They are more like money grabbing schemes where they bet with your money or simply run a ponzi scheme and sooner or later they will fail and exit.

I usually get a lot of invitations to invest in such type of crypto investment programs via telegram and emails but after getting scammed in a few programs that called them legit bot trading systems or claimed to be making consistant arbitraging profits now i have stopped believing in any of them because we can not track or verify their trading activities which most probably means that everything is fake and there is no money being made via trading.

Those platforms you mentioned are all ponzi, that's not cool investment. They are pyramid schemes and you know how they always end. In as much as early birds might benefit, some set of investors will regret venturing into it. Do not invest in sites promising you ROI for doing nothing, just trade with peace of mind. Or go into yield farming, staking, lending. You can do Binance lending with BUSD and get a decent ROI which looks small but ok, at least you are sure it's legit.

I can tell you that 99 out of 100 of these crypto investment platforms are scam, if it is your crypto is not in your wallet then it is not yours, if you want to invest read and research the space, you will find close to 5 to 10 projects you can invest into, just have your exit strategy because things move very fast in crypto

The point is that most of those schemes you mentioned are ponzi inclined. They all lack continuity because of the huge reward that is promised and you end up losing your funds. The best investment in cryptocurrency is holding some good coin like bitcoin and ethereum, and selling when the value is higher. You can also stake your ERC20 tokens and get periodic interest. The only issue is that most of the interest are quite small.

You are talking about these two, right?

https://allbullish.com/home
Pennywise wealth Investment (site is down)

Let's take it one by one.

Allbullish - the website offers 17% daily. Immediately, that kind of return is too good to be true. A sign already that It's a scam, with different packages, and you need to invest 1000 to be part of it. If you ever invest in this kind of stuff, just say goodbye to your money.

For Pennywise wealth investment thing, search results automatically say it's a disgusting scam. No need to point out more.

To make sure that you are investing in the right projects, it's best to stick with Bitcoin and trade. Most of the projects created today are some kind of scams, and it's hard to differentiate between the legitimate ones and those who are not.

What kind of investment platforms they are? Any investments related to cryptos are highly risky and most of them were scam so no need to invest on such platforms  just invest on your own which is called HODL.

I don't there is a way to do this quite safely.
Even simple crypto investment is not secured by anything, you won't get refund if the token disappears.
And you're talking about - how can I give my money to other person (with no legal back to it) so he/she can invest in technically illegal cryptocurrencies.

Never heard of them, can you try to share more information about them? I hope this isn't some kind of HYIP or Ponzi? Where you get paid daily or weekly, If so it's better to exit before it's too late, the most genuine crypto investment today are staking platforms and binance Exchange is one of them that you can trust

If you think that the platforms are not, sure enough, lack of regulation, and also still confusing., you should better not invest in there. Never put your high risks by putting your money into uncertain platforms, moreover if it relates to the investment. Now, many scams exist in order to gain more victims. And that is why you must be more careful about it when choosing the right platform, not the scammers.

YouHodler offers 12% APR (compounding) on stablecoins.

 The reason, why we can provide such Savings interest rates is our loan/savings model. We use Savings assets as a part of our own liquidity pool to provide loans. And with the profit from the loans, we can pay interest to the Savings users.

So the balance between these two products allows us to have the terms that you can see on our platform.

Scam investments always come in different platforms but the common factor amongst them all is unrealistic returns. Scam projects usually promise traders returns that sound too good to be true. These returns could be weekly profit, daily profit, or even monthly profits. Any time you hear about an investment program that will return up to 40% in a month or 21.5%/ a day (allbullish and pennywise), you are looking at a scam already and no need to probe further.

The moment something/someone asks for your payments and promises for higher returns, be skeptical about it. If they promise daily returns at such high percentages, it's obviously too good to be true. It may sound attractive but your money can get trapped. These are just mostly PONZI/HYIP schemes with decorative platforms. There are always red flags and all you have to do is look out for them. Most of these schemes are just the same only with varying elements. Ask yourself first before joining any investment scheme: Can I get my money back? Do these people give any assurance in case something goes wrong? What am I investing in?

Risk is an integral part of any business where money is involved. I would advise everyone before you decide to give your funds to strangers with full responsibility to evaluate all sorts of options, both positive and negative. If you have any doubts, do not do any transactions with money without thinking and carefully weighing everything. In cryptocurrency, no one guarantees anything to you.

Just don't rely on your emotional aspect or doubts and its best if you do accompanied it with some questions or queries in the public.We have this forum and if you are still
bothered out if you should continue or not when it comes on dealing things then the public will really be a good add up when it comes to those suggestion.
This will justify out if its really worth or not.

Risk is always there and its just normal that you will really be experiencing these challenges.You cant earn something if you don't risk up something.
Just be sure to stick with realistic goals and targets so that you wont really be doing things that might end up on too much expectation which result
to overexerting unnecessary efforts.

Thing is it isn't that easy for those platforms to be regulated. I could just build a website and fake out those volumes and rates and people would consider my site legitimate.
It is just the lack of knowledge that many investors tend to have.
Genuine platforms are sometimes backed by their own reputation but take that as a grain of salt because some might consider that paid reviews are common.

Since we are talking about investments, I have a question since I do not have a strong information and data about DeFi platforms. What are the odds of investing in DeFi projects? Some say that year 2021 will going to be dominated by DeFi projects. Is it wise to divert all the holding to DeFi coins/tokens? Help me.

no need investments platform mate, you can stake your coins and get rewards
and a lot of ways to earn passive income in crypto world in this day,
so,its better to stay away from any investments platform
regards

though dont know about investment platform, but the basic thing, i think you need to know is to get advise from veteran till you get used to it, and able to take decision on your own, by considering necessary things at the later things.