I get it times are hard. With the pandemic-induced economic downturn, unemployment, and the general gloom and doom of 2020, it’s no surprise many are turning to get-rich-quick-schemes for solutions to their financial problems. 100% of these schemes turn out to be scams or false advertising and profits (if any) eventually die out. But many continue to turn to these unsustainable ventures.
One of the most recent in what is shaping up to be an embarrassingly long list of scam platforms is Bettalife.cash. You’ll be doing a great disservice to yourself if you invest in this Bettalife.cash without reading my honest review first.
You are here so let’s get started.
First impressions and first red flag
The fact that Bettalife.cash hides its domain details is proof it has a hidden agenda. Why I do not know the exact date this platform was created, it’s obvious through an analysis of its website traffic that this is a recently designed website. I can confidently say the Bettalife.cash website was started in 2020. The platform is quite unpopular as evidenced by its low traffic- it has only 10 daily visits.
In this review, I uncover all the red flags of this new Ponzi scheme. But first, let’s talk about what the platform offers
What is Bettalife.cash program?
Bettalife offers users an opportunity to invest a minimum of 5000 naira to earn and withdraw 50% profit within 3 days for the first withdrawal. Subsequent withdrawals take 6 days and a maintenance fee of 1000 naira is charged. To join the program, the user pays a mandatory 1000 naira as an activation fee. The system then assigns you an upline. You make payment and you withdraw in 3 days. It also offers a referral program that pays you up to 10% for new invites. You’re upgraded to a manager position when you have up to 10 down lines who have paid the system. You must recommit to the system before a withdrawal is enabled (lol…whatever that means)
Here’s a summary of the investment plans
5000 naira earns you 7500
10,000 earns you 15,000
20,000 earns you 30,000
50,000 earns you 75,000
100,000 earns you 150,000
Don’t believe the hype.
Bettalife.cash might be paying right now but it’s obvious this is unsustainable and will end in tears. I’ve been reviewing investment platforms for a while now and I can easily spot a scam when I see one.
Why is Bettalife.cash a scam?
– No revenue source: Every legitimate business has a sustainable way it generates money. Beta life doesn’t even pretend to be taking part in any business. It’s a straightforward Ponzi scam that pays old investors with new investors money.
– Unsustainable: It’s strange that many still ask the question ‘Why are Ponzi bad anyway?’ The answer is simple. All Ponzi crash. Not 80%, not even 99.9%. 100% of Ponzi schemes crash. New members eventually stop joining and old members get frustrated. The cash flow within the system continues to dwindle until it goes down to a zero. The founders of Ponzi won’t wait until it crashes before they run away. Once they see the signs, they will vanish with the remaining funds. I’ve seen this scenario play out too many times.
– No founder: Again Ponzi doesn’t reveal the names of their founder(s). Why should they? Ponzi is illegal. Also not revealing the identities of those behind the platform makes it easy for them to perpetrate an exit scam leaving with all the investors’ funds. Think about it: Who do you hold responsible if you lose your funds to Bettalife.cash? No one. I’ve always maintained that I will never join a platform with an unknown founder. It’s simply too dangerous.
– Suspicious Telegram groups: The telegram group is not professionally managed and has all the trappings of a would-be scam. For example, it is littered with all kinds of unverifiable payment proofs. Everyone knows telegram is the home of investment scams. Check out my article here about how to detect a telegram group investment scam. Be safe out there y’all.
-Basic underdeveloped website: Bettalife cash couldn’t even take the time out to design a more functional website. It’s a basic throwaway website but that’s only half the problem. The website is also badly underdeveloped with too many glitches. Many links don’t work. The about us, team, contact us and our satisfied client sections are just a few of the main sections that display an error page upon clicking.
Safe yourself future tears and do not invest in this scam platform.
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