Are you considering the option of investing in NovaLend’s NLC with the hope that you will make the alleged 52% ROI a month? You have to think twice because Nova Lend is most likely a Cryptocurrency scam.
NovaLend has adapted the exact features that are found in several other ponzi schemes which hide behind Cryptocurrencies.
The most recent ponzi scheme is sophisticated because payment is made in Cryptocurrencies and people are asked to participate in Initial Coin Offering (ICO).
In this case, NovaLend has introduced a coin dubbed NLC. You can allegedly trade it with other altcoins on their internal exchange. This means that investors can generate some income through trading.
There is also the staking and lending of the coins to make an extra amount of money each month. Finally, the ponzi nature of this platform manifest itself when they claim that they have put in place a robust referral system to help generate even more income for their members.
Now, the main highlight here is the alleged lending program which is quite ridiculous. It is promising a monthly return on investment of 52%.
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That will certainly make people wonder whether NovaLend is legit. It is unheard of that people can make 52% monthly return on investments by just participating in a lending program.
We need to look at it carefully to understand what NovaLend is and why you should be avoiding it at all cost.
This is in fact an altcoins scam. Many websites in this category have come and gone. It is not a surprise that this one is still soldiering on after months of operation.
There is a huge risk of NovaLend collapsing. So many Cryptocurrencies have been launches so far. But we only hear of Bitcoin, Ethereum, Dash, Litecoin etc. The rest are not popular and definitely not profitable to hold.
We wonder how a coin like NLC will go a long way into fighting more than 1300 Cryptocurrencies in the world and taking the first spot. We even wonder how this coin will improve in value. This is because there is no product or service that is backing the coin and making it increase in value.
You should understand that NovaLend is purely a ponzi scheme. They won’t trade, mine or do anything else that generates income. In fact, there is no income generating activity in this website. But the presentation would like you to believe that these guys are conducting some serious income generating activities on the platform.
The ultimate purpose of every ponzi scheme out there is to collect money from people. Once they have collected more than enough, they can simply initiate the collapsing of the project or changing its name to something else.
This is how NovaLend intends to conduct its operation:
They require you to purchase NLC tokens. There is no shortcut to this. If you want to participate in any of the activities of this program, you must purchase some tokens from them.
You are going to lose money because for you to acquire NovaLend tokens, you must pay in Cryptocurrencies. By doing so, the owners of this platform will remain anonymous. And you will have paid for a coin that does not hold any value beside this ecosystem.
The guys at NovaLend know how to play the game. They will indeed pay the profits in bits. Nevertheless, 80% of the money will always remain with them since they are only paying a small percentage of the total income generated so as to sustain the ponzi scheme a little bit more.
Therefore, the only money that will come in is generated from new member deposits. If they are serious enough, they will sustain its activities for some time. But once things get tough, they will simply collapse NovaLend and its exchange and run away. You will then be left with a useless coin that cannot appreciate in value. Nothing is permanent here.
This mode of operating was first implemented by the infamous Bitcoinnect scam. We all know that Bitconnect collapsed in a monumental way. They are currently facing a massive lawsuit.
You should expect a ponzi scheme to tell lies and nothing more. You see, the road map is not convincing. We actually found ourselves staring at it and asking more questions that could not be answered by this site.
If you look at the roadmap of this platform, you will see that they are mentioning their operations for the entire year of 2017. But when you investigate the date of registration of the domain, you will realize that these guys came online just the other day. To be precise, they started operating this site on December 2017.
Therefore, it’s quite clear that this road map cannot be trusted. It speaks lies that are typical of what ponzi schemes say to win your trust.
The lending program is in fact very suspicious. It serves as an investment advice service. NovaLend provides the means through which you will supposedly be paid.
Now that they are already promoting a financial service, they should classify it under Securities, which is a highly regulated area.
So far, these guys have totally ignored that part. Now, that makes it an illegal service. You shouldn’t participate in NovaLend’s offers. You shouldn’t send any money to them. You should just ignore them once and for all because their business model is not sustainable.
The site is always claiming that they have an ICO sale. There is always a token sale going on in this site. When you click the link for one of the token sale ads, they will lead to a place where NovaLend is not mentioned at all. Besides, these guys have been poorly rated by industry blogs and forums.
No one can have trust in this ponzi scheme at all. Even if they are offering their tokens for sale, a sane mind must never waste their money purchasing these coins.
Many ponzi schemes will try and remain anonymous because their nature of business involves lying and selling a product or service that really does not exist.
The anonymous nature of this platform is something that can only invoke fear in you. One thing you should be aware of is that when someone is not willing to disclose their identity on the internet, it usually means that they are up to no good, and especially if they are requesting you to send them money.
We wouldn’t advice people to invest with such platforms. It is clearly evident that the entire operation of NovaLend is fishy. They cannot be trusted because of the little things they do while working hard to convince us that they are legit.
You want to lose money to a Cryptocurrency scam? Go for it. But what we know is that this service is a highly controversial and shady project. Having been rated one star, we can only say that NovaLend isn’t the preferred way to invest in Bitcoins and other altcoins. Please consider these sites if you’re intending to make money with Cryptos.
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