The Tuesday July 3rd Edition of The Cryptocurrency Novice Report

Welcome to The Cryptocurrency Novice Report for Tuesday July 3, 2018.

Word to the Wise

Today on Word To The Wise, we take a look at a new investment site called Business Management Consulting Limited (BMCL).

BMCL offers three investment plans that pay very attractive rates of returns based on how much money you invest with them.

BMCL is rather unique compared to most of the investment websites we investigate. You see, most investment sites we review are scams and have only been in "business" for a few days. BMCL, on the other hand, claims to have been in business since 2013 and they have the incorporation document to prove it!

But I was a little troubled by how poorly the writing was on their site. Many of the phrases they chose to use almost made me feel as if it was written by someone who did not speak English regularly. For example, if I was writing copy to promote an investment company, I would never say they "offer the scheme of passive income", it just sounds so nefarious.

So because the little alarm bells were now ringing in my head, I went to Companies House to look further into BMCL. The Incorporated on date of 2013 matched their claim, so that looked good. But what was this Insolvency tab? I had never seen that before.

Hmmm, this looks odd. It shows that there had been a filling involving liquidation last month.

I better look at the recent filings for the company and see what this is all about. A resolution to wind up? Filed less than two weeks ago, that should shed more light on the situation.

A resolution "That the company would be wound up voluntarily"? British legal people sure have a flair for words. I better Google what that actually means.

Oh, it means the company is ending it it's business affairs and is the final step to striking the business off the register.

In other words, the business is shutting down. Closing. Ceasing to exist. So this is just another scam after all. The scammers who made the site, found a company that was going out of business and used their Incorporation document to make themselves look legitimate. Do not invest with Business Management Consulting Limited. The website is run by a bunch of crooks who are just trying to trick you and steal your money.

Money For Nothing

Today's Money For Nothing is a chance to claim 250 BBT tokens from Big Bang just for registering for the airdrop.

Just click the link to go to the airdrop site, then follow the instructions to sign up for the airdrop. You will need an ERC20 compatible Ethereum wallet to claim the tokens.

If you don't already have an ERC20 Ethereum wallet, you can get one from MyEtherWallet.com for free.

Big Bang is a new marketing and loyalty platform for online gambling that rewards you for gaming with affiliated sites. You can learn more about Big Bang at their website, https://bbtokens.io/.

The Report

The cryptocurrency market continues to recover from last weeks drop. Currently the broad market is worth $268 Billion, up $36 Billion from last Friday's low. Here's a closer look at how our favorite coins are performing.

Currently Bitcoin is trading at $6585, unchanged since this time yesterday afternoon.

Steem has had a very healthy recovery recently and is holding up well even after last night's temporary outage. Currently Steem is trading at $1.63, down 4.7% in the last 24 hours while SBD is trading at $1.29, up 1.7% since this time yesterday.

Currently on the Steemit Market, Steem is trading for 1.314 SBD. After reaching a low of 1.12 SBD, Steems rapid price increase this week has once again made Steem worth a lot more SBD.

The supply of liquid Steem continued to increase this past week. The liquid supple edged up by about 200,000 and is currently at 78.26 million Steem.

Please note: I am not an investment professional. The information I present here is only my opinion. I do not encourage you to invest in any coin I mention, especially those featured in the Money for Nothing section, since most of these are not going to make it and may even be a scam. I only suggest you claim the free airdrops offered, nothing more.

Until next time...

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