Avoid These Cryptocurrency Ponzi Schemes

Have you heard about the crypto ponzi schemes?

Over the past few months these have become extremely popular but mainly for the wrong reasons. I have been viewing these opportunities as complete scams yet people still pile into them.

I will create a list of the main scams you need to avoid and share them below giving reason why you need to avoid them.

This review is in no way biased because I am not promoting anything else to you. Unlike other blogs that will call 1 program a scam whilst promoting another to you I won’t do that. So you know that what I am telling you is legitimate and definitely not a scam.

I will list the following in order of old to new and it will make sense why I do that as you progress further down this review.


BitConnect is the “OG” of bitcoin ponzi schemes. It launched I believe around 18 months ago and in 2017 it really blew up. 100,000’s of people joined and started to invest money into the scheme.

To invest you had to buy the Bitconnect coin. The funny thing is that the coin wasn’t even available on major exchanges and the majority of the volume actually took place on the “BitConnect exchange”.

So what happened? Well in 2017 they became one of the top coins with a market cap of over $2 billion at one point. But then the bubble burst.

They were issues with a cease and desist and from there it just went downhill. Eventually they announced they would shut off their lending program and the price went from $400+ per coin down to $20.

They basically scammed and took off with everyone’s money.

Oh I forgot to mention, the “lending” program claimed they would trade your money that you lend to them and make you 1% a day. Pure BS!

USI Tech

When I first saw USI Tech I saw it as a company that was better than BitConnect but ultimately the same kind of thing.

USI had a slightly different angle but ultimately it was the same lending model. They basically said that if you invested money they would invest it into their mining operations and pay you around 1% a day.

The common theme here was the 1% a day and also the fact that they paid huge referral commissions for people who could bring in new members. I actually joined and recruited a few people.

I got sucked into believing this was real. Don’t feel sorry for me, I guess I was an idiot and I should have listed to all the real reviews out there. But ultimately I was fooled like so many others.

The same happened and they were issued with a cease and desist letter and then they closed USA and Canada operations. They are still going now in order countries but I think it’s just a matter of time until they shut.

Falcon Coin

Falcon Coin came out after BitConnect blew up. Basically they claimed that they could make you 1% a day or more. Sound familiar?

Yes it was a complete clone of BitConnect. I honestly couldn’t believe how similar it was and I questioned whether the same people behind BitConnect were actually behind Falcon Coin too.

I only found out about it after doing some research on these ponzi schemes and finding a Falcon Coin review by nobsimreviews.com – If I had not found their website I wouldn’t be able to expose it myself.

Falcon Coin just seems too similar.

My guess is that they saw how big BitConnect had grown and wanted a piece of that themselves so they created this website. Unfortunately they did attract a few people especially after the collapse of BitConnect.

I expected it to go the opposite way with people flooding away from it because they wouldn’t trust it anymore however it seems that some of the top scammers involved in promoting these ponzi schemes started pushing it.

They create YouTube videos appearing to be genuine investors into the scheme but ultimately they are just referring their army of naive people who are desperate to make money.

People have lost their life savings in these programs, it’s really quite sad to be honest.

Final thoughts…

My goal is to stop people from losing money in schemes like this.

There is nothing wrong with cryptocurrency but ultimately there are bad people in all niches and when crypto started to get super popular the scammers flooded in.

Couple that with the fact that cryptocurrency is relatively private (albeit not as private as people think) it is hard to track down the fraudsters. Certainly harder than with your typical programs that use legitimate money sites like PayPal and others.

Rather than wasting time on these ponzi schemes learn about cryptocurrency and investing properly.

Here are some good resources for learning cryptocurrency:

I trade cryptocurrencies but I do not invest in ponzi schemes. There is a huge difference. Learn from real people who know what they are doing and you can actually make money in cryptocurrencies.

Just don’t get sucked into get rich quick schemes.