Cash App is one of the most popular P2P payment apps in the US. With it comes the breeding ground for scammers to try and take advantage of novice users, especially with Social Media sites like Twitter, Facebook, and Instagram.
Cash App $100 to $800 Money flipping schemes: 1. Scammers request victims to send a small sum, such as $10 or $20, through Cash App to Gain Trust and pay them back. 2. Once trust is established, scammers ask victims to send $500 or $5,000 and block them once they get paid.
I’m sure you are here from Google to learn more about the Cash App $100 to $800 scheme.
Well, you can continue reading on to learn more about the inner workings and how are users scammed by scammers.
If not, here is the summary and to avoid wasting your time, there is no such software and tools to double your money from $100 to $800 or even $1000.
Can you turn $100 to $800 on Cash App?
No, there is no method and tricks to turn $100 to $800 or any amount for that matter. This is a common scam that is all over sites like Twitter, Instagram, and Facebook. It is one of those get a rich quick scheme that will always end in regret and disappointment.
Even I a novice in Investing would know that the easiest way to turn $100 into $800 is by investing your money in a 401(k) or IRA or some other business. I would rather take that chance than trust some random strangers on the internet who can miraculously double and triple my money.
If there is such software or an agent inside Cash App, why would they let themselves out rather than exploit and make more money without sharing with others?
The Cash App $100 to $800 Circle Scam
Here is how the $100 to $800 Circle works:
The Cash Circle scheme requires participants to pay $100 into Cash App. The participants are promised an $800 return on their $100 initial investment.
However, the problem is that the participants need to recruit other people to invest $100 in order to get the $800 money. It also opens the risk of getting your account hacked apart from losing your initial $100 investment.
The best you can do when contacted in your DMs or email about joining is to just ignore it. No need to reply or give your explanation. Simply ignore it.
Cash App $100 to $800 Flipping Scam
In this scenario, you are asked to send a $Cashtag $100 and get a return of $800 shortly. They will promise to send you back your money in double or even triple your initial money.
They will try to convince you and say that they have received money from a big company such as Target and to make it look legitimate and not suspicious they need you to send a small amount first upfront and pay you the others in cashback.
Cash App has legitimate giveaways such as their #CashAppFriday and #SuperCashAppFriday giveaways and they are a breeding ground for scammers.
This scheme is quite similar to the Nigerian 419 Scam. Since you have read this article, it will now be harder to fall for it.
What should I invest in with $100?
Here are a few best ways to invest $100 starting today:
- Start an emergency fund.
- Use a micro-investing app or Robo-advisor.
- Invest in a stock index mutual fund or exchange-traded fund.
- Use fractional shares to buy stocks.
- Open an IRA.
- Put it in your 401(k).
I would rather invest in any of the above options than blindly send it to someone who claims to magically double my money and turn $100 to $800.
Do People Get their $100 Back?
You will be asked to invest $100 and in turn, receive $800 from other people participating in the circle. However, this scam is a garden variety Pyramid Scheme and also called The Blessing Loom with typically no chance to get their money back in return at all.
They risk losing their initial investment along with the risk of getting their account hacked.
Pet Deposit Scam $800
If it is too good to be true, it certainly is. The most ridiculous one is the Pet Deposit Scam where the scammer tries to sell you pets (Cats, Dogs, etc) at extremely ridiculously low prices.
They will then claim to have highly sought-after pets such as purebred cats and dogs.
Here’s the catch, they will ask to send the money with Cash App to hold the pets for you and since Cash App payments are instantaneously and not on hold, you cannot get your money back once it is sent.
After you have sent the money, chances are you will never get your money back or the pet.
Cash App $800 Phishing Scam
Another common type of scam widely spread on the internet is leading you to phishing websites and forms to enter sensitive information that will risk your account getting compromised.
Most of the Cash App phishing website webmasters are aware of and are trying their best to make their site look extremely legitimate and use a valid Secure Sockets Layer (SSL) certificate obtained from Let’s Encrypt along with other professional-looking designs and logos.
They will then ask for your Cash Ap email or mobile number which is followed by a second screen asking the user to enter their OTP. When you enter a wrong OPT, it will show an error which basically implies that there may be some sort of verification happening behind the scenes to ensure the user provides their valid OTP.
Never enter and give out OTP to unknown users or sites as it usually has some sort of verification and impersonation going on which is never a good thing, especially on sites that you don’t know.
The best and the only thing that comes right to my mind when thinking about turning $100 into $800 in a day is to go into a casino and bet your $50 on something that pays more than 20:1 (like a single number in roulette). If you hit, you get your $1000 and even more, and then you can quickly cash out and enjoy your windfall.
We can safely conclude that there is no trick to double your money in a snap and they are trying to let you pay some sort of clearance fee to get your allegedly doubled money that isn’t real.
It’s not real! Don’t fall for it.
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