Bitcoin Forum

i saw some ads a while ago offering interest when you store your crypto at their wallet, im curious if anybody used their wallet i would like to hear your thoughts, and could be this possibly another scam?

Yeah i would suggest you to be careful with such wallets i have also received invitation to join such projects by some so called mlm leaders and surprisingly all these wallets have a referral, mlm side which just confirms that these are just ponzi schemes and depends on continuous flow of new funds that is why they all have highly rewarding mlm plans.

do you remember what is the name from the wallet ?
if yes, maybe you can find all informations about the wallet by searching in google my friend
because i never heard about a kind of wallet with interest buddy

i am 99.9% sure that it is a scam. nobody is going to give you profit for just storing your coins with them! how are they going to gain enough profit to share a big chunk of it with you anyways?
i would suggest staying away from anything like that. there has been lots of cases like this, websites and so called wallets that promised big and small interest amounts to gather some coins and then run away.

MLM is indeed very dangerous because it is managed by the first founder so that the potential for fraud is very open, I am also not interested in the MLM system because the profits are not so much and tend to die if there is no interest.

How about POS ? You can get a percentage coin based on how much you holding/store your coins at your wallet and keep the wallets online. Some online wallet giving service to stake your coins at their platform, Example: POSW including pos on their service but they already shut down the service (Not exit scam we got news to withdraw asap). Using service online, that just another option if you don't want to keep the wallet online.

If MLM is a pyramid scheme, that is, of course, deception! Only those users who have made investments at the very beginning of the pyramid action win. But this is not always the case! Very often no one wins except the organizers. You should not believe such promises that you will be paid for storing tokens in their wallet.

Can you please send the ad link here or at least a screenshot of it? I think it's scam in my opinion why do they need to get some interest for storing your crpyotocurrency if you can store your cryptocurrency without any interest? Also in your wallet is secured by your private key how about them?

There are some coins that if you store your coins you'll get stake or they will pay for holding a token and some are paying you for updating the transaction why do they need to get an interest? because of their security? or what?

The exchanges also didn't get any interest for storing your coins... I may say that it's really shady and scammy but we don't have enough information about that crypto wallet and how does it work so this is all my assumption and my perspective not knowing the whole thing, to make this clear we need more info about that or at least the name of the wallet.

last time I saw such wallet they were a scam and they got caught in just 3days. do not trust anyone with your digital coins because they can not directly attack you. instead, they will try to get your coins from you. so once you send them coins you can say bye to your coins. this is a good thread to check latest scam sites (https://bitcointalk.org/index.php?topic=1326821.0) and if you found one just add it here so others can be safe.

The best thing to do if you can share us the link of that specific wallet  so we can examine and to know what was really is all about. Since we are all speculating here and judging the so called wallet without knowing what is it and how it could be possible to work a wallet that earned interest.

Most of them are scams and would go out of business soon. There are some real wallets that provide a fixed or variable interest like the freebitco.in wallet which provides a 4% annual interest paid and compounded daily. Freebitco.in is one of the most trusted faucet and gambling site. Likewise Nexo offers a fixed 6.5% annual interest on fiat based crypto.

Indeed most of this wallets are scam even maybe all of them are scams, the only way to get extra coins with wallet is to find a coin which offer stake rewards if is On PoS stage and get some coins if wallet is open.

I think it's just a scam. But, If it's a true business, I'm curious where it is from, the money they pay to people as interest. I think it's not possible to create this kind a business (a centralized bank system) in decentralized world.

Another way of earning Bitcoin with your own Bitcoins is to invest them in a bankroll of gambling site. There are a few gambling sites that offers it's users to invest in bankroll and the profit on such investment in long run are generally greater than that of a interest provided by the bank.

i would never try a wallet like that which likely to be a scam, but i prefer you to invest your cryptocurrencies into the trusted website like bitdice or bustabit

I think this interest maybe staking. Staking can process with mobile wallet that you can easily use wiyh your phone. There are a lot of DAPPS that you can staking. IOST, TOMO, QKC these are example which I know.

I do not think it's worth trying to use such wallets for storing large amounts of money. best to work with proven wallets

It would be better if you drop it here the link so that we can also check that kind of wallet. I think that is not safe, maybe that is just sort of doubler after they run your fund inside the wallet. There is a lot of strategies that people can be fooled so don't try this baiting strategy which makes your coins lost. Remember this always, if you don't have the private key then, the coins you've stored does not belong to you.

I wouldn't dare store my assets on unrecognized wallet. Just keep then on a legit wallet. Secure your assets on legit wallets .

A lot of fraudulent activities are happening in this crypto space and most victims are those who are lured in due to their greed. One should desist ftpm whatever that appears too good to be true, it is obviously a scam. There is no free money anywhere, whatever money anyone makes here with a genuine intention is actually earned.

well , i dont know which wallet you talking about cus you made no mention of it but let me tell you that am currently using MONARCH wallet with a whole lots of features which earning interest on your stored crypto is one of them, and believe me , this is absolutly no scam.. here is what it look like https://talkimg.com/images/2023/12/16/E96Ka.jpeg

to find out more, you can reach out to them on their telegram group https://t.me/MonarchToken (https://t.me/MonarchToken)

I do not think positive about it. If it were the wallet that provide profit, we would all use it. If most of us have not heard about it, then there is a great chance that it might be scam. Having more information would help us talk more precisely.

Yeah, something that's really legit will easily known by many people. For me, I will stop looking for what it is and only use something legit before becoming a victim. It could be that interest is just kind of trick to trap us to use his wallet and deposit some of coins.

I will tell you right away that you need to be careful with wallets of this kind, as fraudsters often come across who lure you money under the pretext of receiving dividends in the future and then disappear so be careful.

Hahaha, scammers are very smart and they know that this are the kind of things people are looking for in the crypto space and the world at general, anyone that have ever fell into the hands of a scammer actually fell because of one thing which is greed, you see an offer that looks so unbelievable but yet still choose to try it out when you know so well that it can only be a scammer trying to make away with the money you have, please try any means possible to avoid that wallet and also inform others about it.

There are mainstream institutions starting to offer this. What they do is invest the funds you give them and they give a predetermined interest for doing so. Of course, given that they are investing your money, there is a chance that their investments will turn sour and you will lose. Hence, it's much safer to keep your coins in your own wallet.

Not possibly,it must be a scam wallet.No one is going to pay money and also give services.Already some wallets were exposed with proofs so better avoid it without testing.

Do you really need any interest? I don't think so. Buy Bitcoin and be relax. You will be satisfied soon :) Don't look at to interest for nothing.

I am also getting these types of messages but this is a new way to scam people and got their holdings. How is it possible to get coins after putting them in anyone's wallet? If that can happen then why companies not give that options to holders.

Yep. Offered interest in a crypto wallet is the best strategy to attract more users to use the platform.

Probably, because I'm sure a lot of people are tempted by the interest system.
I personally prefer to use an existing wallet from the official page of the related coin.

Yep. It could be, that does not rule out the possibility.
There is no guarantee of security against our digital assets because there are many ways for scammers to steal our digital assets.

There is big possibility that this is a another typr of scam. Inagine that youbare in a crypto world not in a banking industry. If you an investment or deposit with interest you don't go in a crypto wallet and you will only invest in bank. If we analized we don't need to have an interst rate here in crypto wallet because it is only a small amount. We need to focus on other activity like trading.

It is good to be absolutely sure before you commend your coins to a third party. Some wallets such as cobowallet offer custodian services and option for your to stake your POS coins.They are not the one paying the interest directly but the POS coins.I am not using it but it seem plausable.

It is better to stay away from them because we don't know if they are really scammers or not. We need to prevent from installing any wallet that offers to give a big interest because I don't think that the offers are true and we could expect too much about the offers itself. Don't tempt with the nice offers since there is no free money for you.

I think its called staking or POS coin. Many POS coin offering this and from what i know, ethereum will change to POS system in near future. Staking good for the network but for investment, i think mineable coin is best option. Mineable coin are decentralized coin and i think this is the goal of cryptocurrency

If there is a referral link, there's a big possibility that it is an MLM or a Ponzi scheme, OP did not mention the wallet name or even the link to the homepage, but when it comes to picking a wallet, it should be something that is approved by the community and with good testimonials, I would not go for a wallet that is questionable.

Any wallet being questioned whether MLM, Ponzi or otherwise, I can't think of using it. Some, most of the wallets that promise giveaways are mostly designed to s c am Funds of their victims.

they didn't specify their wallet as staking wallet if i can remember correctly they were just offering interest when your crypto is stored at their wallet, they didn't mention any staking i believe.

I guess that is not really working like that. Just be careful when choosing any new crypto wallet.
In some PoS ( Proof of Stake ) coins, you will be able to staking the coin and get interest from it, using your own wallet.
or you can send the coin to the stake pool, so you can get the staking reward without using your own wallet.

Some of them is a scam, and the other is staking wallet. be careful, and do not save coins in a wallet that is not trusted

of course, we are not people who arbitrarily choose a wallet carelessly to save our assets. it's the same, we give money to people we don't know if we are careless in choosing assets. we certainly choose the ones we have recognized and we trust, even though now there are more and more crypto wallets available.

This kinds of act will really protect our assets, not being moved right away by some enticing offers, perhaps we will do our best to make sure our investment will be safe before considering offers that might be good,needs to be more careful as always.