You will Cry !! Don’t waste your money on Snap Earn,Money Minning,Paysetcash and other Ponzi Scheme,
The earlier people realize that there is no free money anywhere, the better for them. This peer to peer investment section has made me realize that a good number of Ghanaians are lazy, greedy and gullible. Just advertise a too-good-to-be-true get rich quick scheme and see them jump on it like ants on sugar. Everybody wants easy money, no one wants to work hard for money. God help this generation
Peer to Peer Madness in Ghana.
These sites are owned and operated by human beings and if you can’t verify the authenticity of the owner of the scheme, do not participate. Scammers have seen a way to make Ghanaians lose their hard earned money.
When participants complain about losing money, they’ll tell them that they were asked to use their spare money. Ponzi schemes have really changed the way most of its participants think, turning them to moving advertising machines.
They can hardly spend a few days without thinking about the scheme. It is quite unfortunate that in the quest to get rich, people have decided to join schemes that are simply run with the slogan “get rich or die trying”. It’s pitiable that some of these people haven’t brought a single soul to church but they have over 200 souls on SnapEarn, money mining and other ponzi schemes.
Like every other Ponzi scheme, existing investors with funds collected from new investors. Ponzi scheme organizers often promise to invest your money and generate high returns with little or no risk.
But in many Ponzi schemes, the fraudsters do not invest the money. Instead, they use it to pay those who invested earlier and may keep some for themselves. With little or no legitimate earnings, Ponzi schemes require a constant flow of new money to survive. When it becomes hard to recruit new investors, or when large numbers of existing investors cash out, these schemes tend to collapse. This is a very risky scheme.
Don’t follow the crowd
When it comes to investing, far too many people tend to follow the crowd and invest in the latest fad; this can prove to be disastrous as such investments usually carry an extremely high degree of risk and are unsuitable for most of us. Adverts and rhetoric will show people making huge amounts of money to entice the “greedy” ignorant onlooker who then jumps on the bandwagon and loses all his money.
Following the crowd is a mistake that far too many investors make. By the time you witness the crowd chasing after an investment, it is already too late to jump on board. Investing is a process that takes time, careful thought and planning. If you are investing, think long term. If you want to take advantage of short-term vagaries and plan to get out quickly, that is not investing; it is speculating and this requires knowledge and skill to be successful.
There is no right or wrong way to be successful at investing but truly successful investors usually confirm that their success came from a combination of knowledge, skill, experience, hard work and usually over a period of time. With skill, experience, consistency and discipline, you stand a far better chance of making your investments a success than if you are an emotional, impulsive, uninformed or greedy investor.
Ponzi Scheme / Peer to peer support has been in this country for some time now but this year it has increased in numbers and a lot of innocent people are been scammed by these fake Apps and website.
Most of theses schemes promise 50% to 100% interest within 3 to 7 days.
I have receive more than 200 emails, calls facebook meassage from people who have lost their money ranging from 100-GHC to 1500GHC in this peer to peer rubbish and most of them are even educated people.
I remember last week a Female teacher called to complain that she has paid 300 Cedis to some one on Paysetcash but has not been matched for two weeks now.
Below are some messages i receive in my email .
There are alot of such helpless individuals crying in my inbox trying to get help from this useless so called investment site. The most annoyed thing is, these websites and apps do no respond to emails and do not have help line for people to lodge their complains
My advise to you is never invest your hard earn money into this kind of nonsense. Though some lucky people get paid most of the people don’t get their money back.
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