Instagram Money Flipping Scam – What Is It All About?
If you have used Instagram for a while, you might have seen the money flipping scam. Just so you know, you will only lose money with this, and not make anything at all.
This scam has been spreading like a virus on social media websites like Facebook and Twitter as well. It claims you can flip money and make big bucks. Here's one of the associated images you might have noticed:
This definitely screams scam. There's no way you can 10x your investment out of nowhere. It's just a way to lure people and steal their hard-earned money. If someone approaches you and makes similar false claims, you should report them on social media and not fall for it.
To make this look legit, some even use bots/fake purchased comments so it adds 'fake' social proof to the opportunity. This is one reason why you shouldn't be joining a program based on what people say. Always a better idea to do your own research and analysis first.
Can You Make Money With It?
No, you can't. The images are fake and are obviously created with Photoshop. We reported one we found on Facebook, and they were quick to take it down. With all of these scams, you will be asked to make a phone call so the person can sell you a 'fake' story.
They say they can enter an extra '0' in the pre-paid card's account balance you purchase, thanks to their secret 'connections' with the banks, which obviously is a made up story. Put in $200, get $2000 out for example. It's just a way to deceive people and take their money.
Next, you're asked to share the card details so they can take their cut. Instead they collect the details and block you. Whatever you put in is gone, forever! Never make decisions emotionally, think with logic and if sounds like a good deal, go for it, otherwise not.
There however is a legitimate way to make money online, which utilizes the affiliate marketing business model. It involves a learning curve and needs work, but if you can put in the work, you will make money even if you haven't made your first dollar online yet.
These con artists use disposable phone number/email accounts. It's always a wiser idea to stick to legit methods, instant riches are just a hoax. People fall for it, that's why these are very popular simply because it triggers people.
It takes time and efforts from your end to build a profitable online business. If you're willing to put in the efforts, you should check out our top recommendation for working from home.