There is even an entire page on the Hex token dedicated to why the product isn’t a scam and generously educates the reader on what technically constitutes an illegal Ponzi scheme and a Pyramid scheme and why this product doesn’t legally qualify. Hex has been very careful with the marketing language on the website and product design features to both appear legitimate and to avoid legal trouble.
You think that the 40% per year “interest” is your first clue that this is a scam?Īxos bank offers the highest savings account rate at 0.61%, for comparison, but wait until we dig into the Hex details. Hex is a token on the Ethereum network executed by a smart contract and the website advertises itself as a place to earn 40% per year with “certificates of deposit.”
#Hex works britain tv#
It’s the only cryptocurrency that I have ever heard of to use ads to market in magazines, buses, taxis, physical mail, hold shady airport seminars, and use TV trying to bring in a whole new class of victims outside the regular cryptocurrency speculators. Hex is different because it’s being sold as an investment furnishing returns, uses banking terminology, and is heavily marketed to the masses who haven’t gotten into crypto yet and don’t know what to watch out for. These buyers are generally aware that they are gambling, and that is fine if they accept that. The Hex.com token should go down in the crypto textbooks as one of the greatest cryptocurrency scams in history because it is heavily marketed with a large shilling army, has a high interest rate ‘hook’ to draw investors in, and its main product feature is to create resistance to getting out of it.ĩ9% of cryptocurrencies are scams, so there isn’t really anything new here, but most cryptocurrencies sell themselves to average crypto speculators as being some utility token for an ecosystem that is going to be the next great thing (which rarely ever pans out). For starters, it’s not a legitimate investment product. Is Hex a scam? Is Hex crypto a pyramid scheme? Is Hex crypto a Ponzi scheme? We answer these questions through an in-depth discussion of this controversial cryptocurrency token.
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