Personal Finance & Money Asked by Hayk Safaryan on July 20, 2021
Recently I found this ad for something called called SwissGap.
They promise very high returns like 5% a month on 1000 USD investment for their savings account.
So I registered and got called by one of their account managers I guess, who was eagerly trying to make me deposit my first funds already, without letting me properly reading the contract provided in their platform or doing any verification of documents.
But it really started to smell fishy when the deposit she suggested to do was via cryptocurrency medium changeally. So basically I should buy USDT and send it to my swissgap account. I postponed the call and want to checkout if anybody has any idea.
So anybody familiar with them?
Risk and reward go hand in hand. If I want zero risk, I can get a fraction of a percent annual return currently. Long term, 10% per year (The US stock market) comes with a standard deviation of 17-18%, but in rolling periods that are greater than one year, STDEV drops.
To get "as much as 5%/mo" must bring a high level of risk. The FAQ on their site says it all, which is close to nothing. I'd walk away. If you decide not to, please visit in a few months and update us.
Correct answer by JTP - Apologise to Monica on July 20, 2021
Telling you an investment earns 5% per month = scam. No other discussion necessary. Nothing earns that much without being gambling or a lie.
Answered by Grade 'Eh' Bacon on July 20, 2021
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