Scams and get-rich-quick schemes are nothing new in the world of cryptocurrencies. In the past few months, there has been a notable increase in so-called Bitcoin HYIPs. A high-yield investment program is a very common scam, especially on the internet. Below are a few tips to easily snuff out such Bitcoin HYIPs and avoid dealing with financial losses because of those fraudulent offerings.

High Investment Returns Don’t Exist

One of the main reasons why Bitcoin HYIPs are so popular is because of the projected returns on investment. While good money can be made with cryptocurrencies at any given time, one has to keep in mind those profits are never guaranteed. Any company or service provider claiming otherwise is most likely running an HYIP or some other form of dodgy investment project.  There can never be guaranteed high investment returns, or even daily guaranteed returns when dealing with volatile cryptocurrency markets.

Unlicensed Companies (With a Company Registration Number)

Some enthusiasts may have noted there has…

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