To us, it was 100% evident that DogeMoon is a scam. We have reported anything to do with DogeMoon with bitter sarcasm… Yet, we have, ourselves, “invested” a significant amount of Doge in the fake operation to demonstrate our personal involvement in the cause and to be able to reject accusations of bias.
Though considerable, the “investment” was discarded as a loss, from the beginning. There was nothing exceptional about DogeMoon; we will invest actual funds acquired from faucet activity in reviewing Eobot (the only cloud mining platform which yet has retained a legitimate reputation), the Luckygames online cryptocurrency casino, etc. However, reviewing every scammy service out there is beyond what we can afford, is quite boring (they are all the same) and would be a constant repetition.
There are basic rules to follow when deciding whether a service is a scam or not:
- If it seems too good to be true, it probably is.
- A history of payouts means nothing; even if the payouts are real, the nature of Ponzi schemes implies that the first users are paid.
- Advertised on a legitimate service? It does not matter. Cointiply advertises scammers all the time. Whatcha gna do?
- Registered company? Registered address in the UK? Warning bell, if anything. Extreme secrecy and extreme openness are equivalent. Registering a company in the UK costs about £15 and takes about 15 minutes. A registered address for a company also costs nothing compared to scammers’ profits.
- Social media presence means nothing. Twitter and Telegram groups/accounts appear and disappear. Sue them.
- Take Freebitcoin‘s annual interest paid to you as a benchmark; 4.08% annually paid to you for an investment is about how much you can safely expect to receive for clicking “send” and doing nothing. 5% a day? Warning bell!
- How long does the website exist? Years? Months? Weeks?.. “Since 2015” = good. “12 days…” = sign of a Ponzi scheme.