E-currency Schemes & Scams — The Basics

Let’s start with some basics which will apply to all ‘e-currency’ scams and schemes.

It will then become your job to test out some possible targets and comment on the e-currency webs you find. I look forward to reading your comments.

You should be able to recognize an e-currency scam when the entire purpose of the web is designed is to separate you from your money. That usually means after reading just a little inspirational information and a pitch the web will ask you for money…”Order Here” or “Invest Now”. This is the most obvious scheme on the Internet. A small web which hypes an ‘e-currency product’ and then asks you to send money. The ultimate goal is obvious, separating you from your hard earned money any way they can! Here are some other signals.

* Beware of the one page web! It may qualify as a scam.

If you find a really long one page ‘e-currency’ web pitching their sale using everything from genuine ‘expert advice’ to customer endorsements, that one page is most likely an ‘e-currency program’ affiliate scheme. Perhaps, not an outright scam, it is set up on behalf of the unknowing affiliate, this is just an extension of the original scheme. When members join these webs, the ‘program’ will automatically create one page affiliate webs for all its participants. You will often see this text, “If you sign up today, you will also get your own free affiliate web!”

If the program is worth participation, the operator should find it worth spending $8 for an actual domain name and multiple page web template. One page webs or one page sub domains with long.names69.com and a ‘Order Here’ button on the bottom…..are a dead giveaway. As they say in Vegas, that is a suckers bet.

These pages are very long and poorly designed with all efforts leading to the ‘Buy Now’ pitch on the bottom of the page. Please learn to recognize these most obvious schemes and stay away. Here are just a few I found during two minutes of surfing: 1, 2, 3, 4, 5

* If you read the ‘e-currency’ web site for 10 minutes and you still can’t figure out exactly how the business makes money, it may qualify as a scam.

I’ve worked in the digital currency field for about 5-6 years and while I’m still not an ‘Expert’ but I do understand how online money works. If I visit an ‘E-currency’ web, whether it offers trading, exchanging, buying or selling I can usually understand exactly what is going on after reading the first paragraph. This leads me to the next big scam signal.

When you visit an ‘e-currency’ web, if after the first page, you still can’t figure out what they are selling or how money is being made, then chances are very good, it is some type of scheme to separate you from your money. Believing in the unknown is a powerful method of convincing someone to spend or invest.

Most visitors will say something like this, “well the web looks good and I see this ad everywhere, it must have some truth to it.” Understanding that people are easily convinced by ‘information’ on the Internet and are always looking for new methods to earn online, these offers entice people to try that unknown ‘program’.
This is wrong. Read the web again, if you cannot figure out exactly how the money is made or lost and how often, you won’t be earning any. This fact is especially true if you get a live IM or contact by email and you hear from them, “You just don’t understand the program”…that may be a big scam.

Don’t be one of those people with the calculator out saying, “well if the web is only half right I’ll still make 9% each month, WOW”, ITS A SCAM. It is all designed to separate you from what? YOUR MONEY Don’t be a believer…investigate!

A great example of meaningless text is below. If you can explain to me in detail how money is made or lost after reading this information or what this paragraph really means, I’ll pay you $10! Source: dxout.com

DXSynergy is a private market where a variety of e-currencies are exchanged for each other in one exchange. DXSynergy is a central currency service for all of these other e-currencies. There are two main parts to the system today; DXPortfolio and DXMerchant. When you first start out in the business, you begin doing e-currency trading in the DXPortfolio side. After months of trading, you may want to get into the DXMerchant side. The DXMerchant side takes more time to manage but your profits and bonuses can be much higher than the DXPortfolio. DXSynergy (DXInOne) has just started rolling out their other products and services to the world, so visit the DXSynergy site to see for yourself about these exciting new services.

So make sure you visit their new Dx web, sporting yet another new name for this year, and become even more confused :-)

Also, never mind the fact that the term ‘e-currency’ is a trademarked phrase owned by Goldfinger Coin & Bullion, Inc. ALL RIGHTS RESERVED. GoldfingerCoin™ and Goldfinger Coin & Bullion™ are registered trademarks of GFCB, Inc. www.goldfingercoin.com

Again, understand my rule: If you read the ‘trading’ web site for 10 minutes and you still can’t figure out exactly how the business makes money, it may qualify as a scam.

* Do some homework and research it before you ‘Believe’ !

Take all of these items from your possible program web and separately query Google on each one:

• Program Name
• Person’s Name Associated with the program
• The Domain
• The Street Address
• Phone Number
• The keywords from the program web (it is critical so search on these KWs)
• Repeat these same searches but this time also include the word “scam” with each search

After you query each of these terms and read the results of your search, can you see any outright warning? Has anyone else been separated from their cash and is now alerting you via Google’s search results? Are there 4-5 or 25 webs devoted to disclosing “this is a scam”.

10 minutes of research on Google can save you big money and months of ‘e-currency’ frustration.

* Beware of supposed industry ‘Experts’.

Hello Visitor,
I’m Mark Herpel “E-currency Expert & Fitness Guru” :-)

What exactly makes these people experts? Can you find their industry credentials and lengthy resumes which qualify them as experts or is it just a catchy title? Does that title even makes sense? Reading about these ‘E-currency Experts’ I am reminded of an awful TV commercial that used to appear at odd hours of the AM.

In this commercial message, a very pretty girl appears in a bikini along with thin muscular young man with a really bad haircut. Their pitch is selling the secrets of how to create a really cut set of abs. He must have been a expert because his title in the commercial was ‘Fitness Personality’.

What is a fitness personality and how do I become one? Too late…I now proclaim myself to be a ‘Fitness Guru’ and an ‘E-currency Expert’…a what? Click here to buy my ebook on vitamins…signed customer testimonials included! After all I am a self proclaimed ‘Fitness Guru’. Too funny.
In my opinion, Lance Armstrong is a fitness personality, he has a lengthy resume of quantifiable success and is not afraid to disclose it. Plus he is an interesting guy with the cancer and dating Sheryl Crow etc. So the next time you read, “Expert Trader” or “E-currency Expert” ask yourself who qualified this guy to be an ‘Expert’? Is it just a fancy sounding title like Mark Herpel….’Fitness Guru’?

Also, cut and paste that title in the Google search bar and see just how many other “Industry Experts” there are out there selling programs. That will keep you busy.

Are you thinking of looking into an ‘E-currency’ program? Are you going to blow $300 dollars so the experts can teach you how? Please test all of the above criteria on your ‘program’ web first and see what you can find. Some examples of popular ‘e-currency’ keyword phrases you can test are:

• e-currency trading scam
• Gary Jezorski
• Mazu Publishing
• DxInOne scam