The well-known scam that is OneCoin is still one of the most widespread fraud schemes in the world today. Even though people are slowly becoming more knowledgeable on Bitcoin, they see OneCoin as a “much better option”. That seems rather strange, but the huge promised returns will have something to do with this.
People Can’t See Through The Web of Lies That is OneCoin
It has to be said; Bitcoin has probably one of the worst perceived reputations among financial instruments right now. The majority of things average people know about Bitcoin comes from the media, which has never taken kindly to the Bitcoin concept. Then again, no one should ever trust the media is not pushing their own or someone else’s agenda.
That being said, all of the negative Bitcoin attention is paving the way for alternatives. OneCoin is the hot commodity, despite the number of scam allegations increasing. But people continue to make money through this MLM Ponzi scheme, as long as new people join the business. Moreover, the “company” has centralized leaders, which instills trust for some reason.
What is even more worrisome is how eager people are to believe somebody else claiming their investment is paying off