DogeBank Review: Not Legit: DogeBank.io Scam Alert!
DogeBank.io Review: Beware of DogeBank scam. Doge Bank is not a genuine business. Yes, we agree that it may pay a few members but that doesn’t make its business model legal or sustainable. It will stop paying sooner or later due to which the majority of members will lose their money. Why? Well, let’s find out the answer in detail through our Doge Bank review here.
Why is a DogeBank fraudulent site?
DogeBank.io is a fake investment opportunity due to the following reasons:-
# DogeBank.io is a Ponzi scheme which is neither a legal nor a sustainable scheme. Legal authorities have already warned the general public to stay out of the Ponzi scheme due to its unsustainable nature. The majority of members will lose their money in Ponzi scheme and only a few ones who join the system at first will make some few bucks due to which you will find out some people who promote and support some Ponzi schemes.
# We can say DogeBank.io is a Ponzi scheme because it doesn’t have any real source of income to pay profit to its members. It claims to pay up to 160% ROI in 40 days on the investment amount of members by using the money of members to mine Dogecoins. However, it fails to provide the proof of its so-called mining which proves it doesn’t have any real source of income and only can pay members by routing the money between the members which is not a sustainable business.
# All the Ponzi schemes like DogeBank.io trick people by showing the real payment proofs because they pay few members at starting by routing the money between the members so that they can lure more people into their scheme by showing those payment proofs. However, it is practically not possible to pay all members in that way because when they pay one member, they need to use the money invested by other two members so that they can pay the principle and profit to that one member. But, whenever they pay members in that way, they will create a debt equal to the amount of profit that they use to pay the members. So, even Ponzi schemes like DogeBank want to pay all members they can’t because day by day the debt will be kept on increasing and they will not have enough fund to pay all members. That’s why Ponzi schemes like DogeBank.io are illegal schemes.
Now you know that DogeBank.io is a Ponzi scheme. So, DogeBank is a hoax website. That’s why we have listed DogeBank within our “Scams” category. So, in this situation, we don’t recommend you to invest in Doge Bank.
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