in hive-147599 •  2 months ago 
Investing wrongly is truly painful. We have heard a lot of stories of some persons who took their own lives because they could not bear the pain of the loss. Many never recover from the loss, and they spend the rest of their lives in regrets. It's only very few who after enduring the loss strive and get back to their feet.


Experience they say it's the best teacher, but this kind of situation is better studied than experienced. In this post, I will be sharing with us more signs that reveals that an investment is potentially a wrong one.

1. They create the impression that a lot of persons are investing in it:

Whenever you see a business that those who run the investment create the impression that everyone is investing in it, it is a sign that that business is probably a sign. This strategy is more like playing mind games on people. They get people to believe that they are really missing out if they don't partake in that investment. Because of that, people who ordinarily may not have gone into that business will now rush into it.

This is exactly the strategy they used in that reverse betting scam that I mentioned in the part 1 of this post. The way they advertised it online made everyone who wasn't already investing in the business feel as if they are making the biggest mistake possible. I had a friend who lost money in the scam. The reason he joined was because the few people he knew made it look as if it was only him left in the whole world who doesn't want to invest in something that will surely make him some passive income. There is a big lesson in this. That the whole world is investing in a thing doesn't in any way make it right. Take "MMM" for instance. A lot of persons are get to recover from that experience.

2. If the terms of the investment prevents you from taking back your investment anytime you wish:

Any investment that insists or limits you from collecting your money anytime you wish, then just know that the investment is likely a scam. Although you may find this same clause in some legit businesses, scammers do incorporate this clause in their investment terms so as to give them enough time to run away with the investors money before these investors will even have enough time to take their money out of the investment.

I remember one of such scams, that was popular in my country few years back. The scam was such that the investor stands to earn 30% of his initial investment as profit if he leaves his money for 1 month. If for any reason, he pulls his investment out before the 1 month ends, he will lose 30% of the total amount his investment has accrued. This may sound like a light clause, but it actually wasn't.


When's the business started shaking, people who wanted to take their investment back before the 30 days realized that the money they will get in return wasn't up to the amount they investment. Some took their money like that. Others who waited for a month so that they can get everything lost everything at the end of the month, as the scammers abandoned the site.

In summary, we need to be mindful of get-rich-quick investments. Work first before reward. Research before investing. Yes, these scammers are clever, but when a person goes through their proposal with the 'Goggle of truth and facts", the loopholes are glaring. Don't be in a hurry to invest. Be sure before you invest.

Thank You.

Read, Ponder, Love.
© whileponderin

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
Your post has been successfully curated by our team via @fredquantum at 40%. Thank you for your committed efforts, we invite you to do more and keep posting high quality posts for a chance to win valuable upvotes from our team of curators and probable selection for an additional upvote later this week in the Top Seven.


Note: You must enter the tag #fintech among the first 4 tags for your post to be reviewed.

Congratulations, your post has been supported by @steem4nigeria. This is the official community account of Nigerians on Steemit. You can reach us here on our community account.

Manual Curator : @Reminiscence01

Subscribe and Join Steem4Nigeria Telegram
Discord Facebook Twitter