Cheating Internet Scheme Everyone Needs to Be Aware Of

People who come to find the way to earn money online are usually amazed by some scammers who put up the websites to cheat innocent people who don't have enough experience in the online scams.

That scheme is called High Yield Investment Programs, in short HYIP. Most hyips claim they will reinvest your money by their trading expertise in financial markets such as stocks, commodities, Forex, etc. The unfortunate fact is 99% of those types of sites are all scammers. Let's look at these banners I took from www.azhyipmonitor.com.

Most of these websites are run by a few admins. The scripts can be bought online and installations can be done with support and tutorials. That means even I don't have any coding skills, I also can put up these types of sites to scam people.

Let me mention the biggest scam in Cambodia run by a company called EBC, Empire Big Capital. EBC operated from around 2013 until 2015. The groups who run it are a few people from Hong Kong and Cambodia. In its operation, EBC promised monthly profit of 10%, which was a low profit rate compared to other hyips on the internet. EBC said it trades the client money in the stocks and Forex markets. In fact, it is just a ponzi scheme. Ponzi scheme means the program will be still running only with new money coming in to profit existing investment funds. EBC has scammed millions of dollars from Cambodian people in almost all provinces. Some farmers even borrowed the money from the banks to invest in EBC. Now EBC is gone and no authority can get those money back to the investors who lost the money.

I would recommend to stay away from these sites. You will be over 99% scammed. However, why do I still have recommendations to Ethtrade.org? I have observed Ethtrade for almost one year. I have also invested some money there. Ethtrade trades only cryptocurrencies. Ethtrade is the only recommended company from my blog. Ethtrade doesn't give fixed return. It depends on the profits from their daily trading activities. Ethtrade has traders across different regions. Ethtrade trades only from Monday to Friday. Some days I see my profits on investment is only 0.15% but some days up to 1%. Ethtrade keeps 50% of profits from trading so it has a large pool of funds to secure the investment funds from the clients.

Hence, when you see hyip sites, please be super careful! However, if you really want the right way to earn money online, you need to have some hard work, patience, and skills. I suggest you to learn how to trade binary options or Forex. Trading requires skills and practices so you can trade on demo account first. Trading Forex or binary options can get you to the right money making method. Besides, you can do blogging. Blogging requires time but it can reward you in the long term. To succeed in blogging, consistency is the key. Just keep writing on your blog. I have other recommendations so you can go through my blog or other blogs.