You might be wondering what is cash flipping. In this article, you're about to learn and understand the unethical side of it. Have you ever received a direct message from random users on Instagram, Twitter, or any social media platforms about people offering to cash flip your savings? These people claim that they can double your money to even 10x your money.
Well, the truth is, you're talking to the wrong people. You should be talking to leaders and people who will guide you into earning your own money rather than simply giving you money. That's a fairy-tale.
Back in the days, the Nigerian prince scam was popular and many gullible people fell victim because of it. Believe it or not, people around the nation have lost over $700,000 within the past year because of the Nigerian prince scam. That's right. People are still gullible even today.
Because scammers have gotten smarter, you will have to be extra cautious.
In 2019, people and banks have lost a total of $146,898,217 due to scams. The number of reports is astounding. There were 167,802 reports.
Here is everything you need to know cash flipping and this is how you can avoid it.
Cash flipping can be defined in many ways. The best way to describe this is that it's a type of scam that you should avoid. It's the fastest way to lose your savings. Believe it or not, there's an average of 590 searches per month just for this question alone. This means that people are still curious if it's legitimate. To save you the time and trouble, it's really not.
You can tell from all the Quora answers. If it sounds too good to be true, it's not. Every single answer on there already said that cash flipping is a scam. There's no magic to it. You will only lose and it's worst losing your money than seeing your stocks tank.
This can happen in various ways. The scammer will usually ask you to PayPal them, Cash App, Venmo, or any payment methods online. They can contact you through social media, email, or phone call asking for your debit card information. This is something that you should NEVER do. Once the scammer collects the money or personal information from you, you won't ever hear from them again.
Are Cash App Flips Legit?
The idea of flipping money isn't real unless you're reselling real merchandise or day trading stocks/cryptocurrencies. If the scammers can make magical money appear, then what's the point of them asking people to pay them. You know the answer. Another thing is to NEVER pay another online stranger through Cash App simply because you won't be able to recover your money once it's sent. They also have barely any customer support. I was on the Cash App Reddit browsing and noticed a number of people getting scammed every day. Don't be gullible when it comes to paying people online.
At least with PayPal, you have the option to chargeback if you don't receive your product. Even so, you should never believe in easy money because there's no such thing unless you win the lottery.
Is Cash Flipping Illegal?
Yes, cash flipping is VERY illegal. These scammers are not only taking people's money but they're also stealing their personal/sensitive information. For more information, visit fraud.org
How Can I Make $5,000 Fast?
Unless you're a celebrity or already rich enough, you can't make $5,000. If you're thinking about doing something illegal, think twice. No, think more than that. You're not only hurting innocent families but you're also hurting yourself. There are ways to make money online though and that's what this blog is all about. The journey gets easier, I can promise you that.
I have written several articles on ways to make money online, so here are a few. Thank me later.
- Cash App Sign Up: How You Can Make Money From It!
- How To Make Money With WordPress
- 40+ Ways To Make Money Online
- How To Make Money On Reddit?
If you invest in knowledge and going through trial and error, you will succeed. It's not easy but it's do-able. Ever heard of the law of averages?
If you fail enough times, eventually you will succeed.
Start on a niche you're passionate about, fail, get back up, and continue on your path to success.
What Are The Top Scams?
With so many scammers nowadays. It's best to take in this knowledge to avoid future scams and have a better understanding of the situation. According to usa.gov, these are the top scams currently. While there are many more unique scams that aren't listed here, it's best to be extra cautious when it comes to these types of things. You'll never know until you're trapped in a situation where you feel extremely helpless. Trust me, you do not want to be in this situation. Stay aware of these:
- Coronavirus Scams
- Ponzi Scheme
- Charity Scams
- Investment Scams
- Census Fraud
- Phone Scams
- Ticket Scams
- Pyramid Schemes
- Lottery Scams
- Government Grant Scams
- Banking Scams
There have been hundreds of thousands of cases in regard to these scams. It's even on the official government website to warn people. It's very unfortunate that this is happening every day and ruining innocent people's lives.
What are some ways to detect and avoid a scam?
- Don't give out your personal information to ANYONE – Giving out your information can result in a scam and this is also a huge red flag. Your banks will NEVER contact you for your banking information. The best way to confirm that it's really them calling you is to call the official number.
- Do business the right way – When you're doing business with another person, don't ever send through Venmo, Cash App, or Zelle. They're not used for that reason. To have a smoother safe transaction, my recommendation is to use PayPal because you will have the option to chargeback when you're dealing with a potential scammer. With the other platforms, there's no option to chargeback. Don't ever send as Friends and Family on PayPal.
- Confirm and double-check before giving out your personal information – Believe it or not, there are scammers calling people every minute of the day. They will tell you that they're working for the government, your bank, or anything that can get you to give them your personal information. You should always double-check and call back the official number of those companies.
Overall, this is unethical behavior and I feel it's best to warn the innocent people. If you believe that this could help a friend or family, feel free to share this article.