• Crypto Lists
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Altcoin
  • Advertise With Us
  • Join our Telegram Community
Newsletter
ItsBlockchain
  • Bitcoin
    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    featured image

    How Bitcoin can be hacked?

    keep bitcoin safe

    Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

    featured image

    Bitcoin IRA – Everything You Need to Know

    A trillion dollar tsunami is about to hit Bitcoin

    A trillion dollar tsunami is about to hit Bitcoin

    featured image

    Why Bitcoin will always be the number one cryptocurrency? Explained

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    Trending Tags

    • Crypto Gems
    • NFT
    • DEFI
    • Crypto Lists
    • Altcoin
    • Crypto Market
    • Guide
    • IBC Capital
    No Result
    View All Result
    • Bitcoin
      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      featured image

      How Bitcoin can be hacked?

      keep bitcoin safe

      Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

      featured image

      Bitcoin IRA – Everything You Need to Know

      A trillion dollar tsunami is about to hit Bitcoin

      A trillion dollar tsunami is about to hit Bitcoin

      featured image

      Why Bitcoin will always be the number one cryptocurrency? Explained

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      Trending Tags

      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital
      No Result
      View All Result
      ItsBlockchain
      No Result
      View All Result
      Home Crypto Market

      Tronsquire: A Million Dollar Scam on Rise In India which promises up to 1000x Returns on TRX

      Hitesh Malviya by Hitesh Malviya
      March 7, 2021
      in Crypto Market
      0 0
      0
      tron squire
      191
      SHARES
      2.4k
      VIEWS
      Share on FacebookShare on Twitter

      Disclaimer: This article is solely based on our research and information we found on the internet about TRONSQUIRE, We don’t want to hurt sentiments of TRONSQUIRE or its investors. 

      Although Bitcoin’s price has reached up to Rs.36,30,000, its popularity has become far-reaching. Everyone is looking to make investments in Cryptocurrency. However, there is a lack of knowledge as to how it actually works, and many people try and take advantage of it to make a quick buck. 

      MLM Companies have always been a crucial part of the rise of cryptocurrency investments in India. The Sad part is, they are also responsible for putting cryptocurrency, and blockchain technology in a bad light in the country. These companies have dumped thousands of investors in the past, and continue doing that. You can still find thousands of MLM Companies promoting their own cryptocurrency, or binary plans based on other cryptocurrencies. 

      Based on various media Releases, Indian Investors have lost an estimated value of 10B$ in Various MLM Crypto Scams. Gainbitcoin, Morris Coin, and Bitconnect are few notable scams that finally got caught by the police, and their promoters are facing legal trials. 

      If you’re reading this, you probably have heard of TRONSQUIRE. You might have heard that this is the hottest, new get rich scheme in town. Many have taken to TRONSQUIRE as a means to earn a lot of money, in a short span of time, without doing much. Who doesn’t want to get rich without doing much? 

      To us, this seemed too good to be true. Anyone investing in cryptocurrency will tell you to tread carefully with these types of schemes. There are already people asking if TRONSQUIRE will 1000x Return in no time given how it has been growing. Furthermore, superficial research won’t give you much. 

      We did our own research and we have one thing to tell you – tread very, very carefully. 

      What is TRONSQUIRE? 

      According to their website– Tronsquire has developed a system by using Advanced Technology and Tron Blockchain. The system is much Simpler, more Profitable, Secured, and 100% Transparent, Tron is one of the largest blockchain-based operating systems in the world. 

      Their website itself gives a big warning sign, when you see misspelled content all around the place, with no team, and contact information. 

      We have got access to one of their promotional material, according to that: They are offering a 7 level Binary Matrix plan to investors.  In Simple Words, They are pulling a large scam by capitalizing on the popularity of TRON(TRX), With over 3.5B$ Marketcap Tron is one of the top 25 cryptocurrencies in the world. 

      Their onboarding process was unusual. You can make an initial investment of say 900 TRX(Rs. 3250) to 100000 TRX(Rs. 370,000) , and the investment will be locked in for at least 12 months. 

      And their returns on investment will raise your eyebrows, that’s what is shocking, and shady here. 

      They claim, an investor with an initial investment of 900 TRX, can earn upto 100000000 TRX, Which is Rs. 3,68,291,478 (According to the current exchange price of TRX). 

      MLM for coin growth and rewards 

      There is an MLM scheme with TRONSQUIRE  which helps you grow your TRX by getting more people to buy. You also get benefits for the people referred by the people you bought into the system. Here’s what we found – 

      As you can see, it’s structured just like many a ponzi scheme, with Level income incentives. Sure, MLM has been an effective marketing method back in the day, but has been rendered fairly useless in modern day businesses. Furthermore, the high rewards system suggests that they don’t expect too many people making it to the top. It’s all a bit fishy at this point, but it gets worse for the investor. 

      MLM has been known to only benefit the early adopters and late joinees basically get nothing because of the sheer number of people in the system. 

      Why is it still growing? 

      As We, All Know, MLM Companies target Middle Income Group which have bigger dreams to fulfill, and Meteoric Rise of Bitcoin is attracting a lot of investors in India, and they are looking for cheaper alternatives where they can invest to make quick and large returns. That’s what benefiting MLM Scammers to pitch in their schemes to them.

      Tronsquire conducts regular seminars, events, and promotional online meetings to tap in investors, mostly from tier 2/3 cities, and towns. 

      MLM marketing inherently provides a strong word of mouth as a means of growth and this coin has increased its value much fold, all under the radar. This is what happens when there is no regulation in cryptocurrency. 

      Our Appeal to Media

      We get it. There are a lot of eyeballs on cryptocurrencies and writing about it will get you page views. But know that you’re going to be one of the sources that people look to before making an investment decision.  

      If you really care about covering cryptocurrency related stories/topics, do more research make articles more fact-based. There are too many scammers out there and it is up to you to try to educate citizens about cryptocurrency and blockchain technology.

      Our appeal to Indian Government

      Introduce a cryptocurrency usage framework for both consumers and businesses, so that such scams can be nipped in the bud. India is a rising power in the crypto world, but governments from other countries like Japan, USA, Singapore and Australia have taken steps towards regulating crypto.

      Suggestion to Indian Investors

      Technical analysis is a must. Think of yourself as a venture capitalist. Understand the underlying blockchain technology that fuels the currency and see if it actually has any real-world usage. Look at the team behind it and see how they’re developing it.

      You must do your due diligence before investing in a cryptocurrency. If you’re new to this, ask your peers. Join communities like ours and ask experienced investors how they do trading properly. It’s early days – beware of scammers.  

      Hitesh Malviya

      Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
      Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

      IBC-Transparent-Logo-(1)

      Subscribe To Our Newsletter

      Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.

      You have Successfully Subscribed!

      Tags: featuredtronsquire
      Share76Tweet48Share19

      Subscribe to get notified on latest posts.

      Unsubscribe

      Related Posts

      ATOM Set to Explode after the Revised Tokenomics

      ATOM Set to Explode after the Revised Tokenomics

      by Aniketh Paul
      October 14, 2022
      0

      ATOM 2.0 Tokenomics will change the future of Cosmos hub and its native token. In this article, We'll deep dive...

      What’s Ahead on the Cryptocurrency Rollercoaster?

      What’s Ahead on the Cryptocurrency Rollercoaster?

      by Guest Author
      January 11, 2022
      0

      Cryptocurrency came on fast and furious and surprised financial experts, governments, and users alike with massive fluctuations and outstanding climbs...

      Discussing Bull & Bear Cases in 2022 with On-Chain Analysis

      Discussing Bull & Bear Cases in 2022 with On-Chain Analysis

      by Karthik Guttha
      January 9, 2022
      0

      In our previous on-chain market analysis, we mainly discussed that bitcoin needs to reclaim the $53k level, which is the...

      Highlights from 2021: The Year of Crypto

      Highlights from 2021: The Year of Crypto

      by Karthik Guttha
      December 31, 2021
      0

      2021 will be remembered as a year when we defied the odds.  We lost hope in traditional financial systems that...

      On-Chain Data Shows Open Interest is Reset to Previous Lows in May, Indicating a Spot-Driven Market

      On-Chain Data Shows Open Interest is Reset to Previous Lows in May, Indicating a Spot-Driven Market

      by Karthik Guttha
      December 12, 2021
      0

      The crypto market has been making violent swings over the past couple of weeks. The new covid variant, Omicron, certainly...

      Load More

      About Us

      We curate the best cryptocurrency projects with the intention of adding value for investors through the process of selecting, organizing, and looking after different projects available in the cryptocurrency market.

      • Trending
      • Comments
      • Latest
      featured image

      List of leading partners of Ripple, and How they use XRP?

      February 2, 2021
      Be warned! Hackers are abusing API keys and stealing your funds

      Be warned! Hackers are abusing API keys and stealing your funds

      June 15, 2021
      Highly Scalable Blockchain Projects

      Top 3 Highly Scalable Blockchain Projects

      March 9, 2020
      Top crypto coins for 2018

      Top 25 crypto coins to Buy in 2018 [UPDATED]

      October 4, 2018
      IoT Chain

      IoT Chain : The IOTA Killer

      September 20, 2018
      Deep Dive into Bitcoin Mining

      Bitcoin mining explaned : How bitcoins are generated?

      February 7, 2019
      Top 10 DAOs to Join as a member in 2022

      Top 10 DAOs to Join as a member in 2022

      December 17, 2021
      Polygon: The Swiss Army Knife of Web3

      Polygon: The Swiss Army Knife of Web3

      May 27, 2023
      Worldcoin: The Biggest Crypto Scam or Innovation?

      Worldcoin: The Biggest Crypto Scam or Innovation?

      May 18, 2023
      EIP-4844 Explained | The Biggest Ethereum Upgrade

      EIP-4844 Explained | The Biggest Ethereum Upgrade

      February 7, 2023
      What Blockchain Can Learn From Barnes & Noble and the Jacksonville Jaguars

      What Blockchain Can Learn From Barnes & Noble and the Jacksonville Jaguars

      January 17, 2023
      RINO Enterprise Wallet launches free Community Edition

      RINO Enterprise Wallet launches free Community Edition

      January 14, 2023
      Top 5 DeFi Projects on Tezos

      Top 5 DeFi Projects on Tezos

      December 26, 2022
      Modular Blockchains: The Next Big Thing in Web3

      Modular Blockchains: The Next Big Thing in Web3

      December 12, 2022
      • Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        29635 shares
        Share 11843 Tweet 7402
      • A Mysterious Bitcoin Whale who sold 3000 Bitcoins at 58K$, Bought back 3521 Bitcoins in the last three days

        9933 shares
        Share 3972 Tweet 2483
      • Top 10 Low market cap altcoins to invest in 2021

        7270 shares
        Share 2906 Tweet 1817
      • Top 10 NFT Crypto Projects You Should Know

        7256 shares
        Share 2623 Tweet 1640
      • List of leading partners of Ripple, and How they use XRP?

        6151 shares
        Share 2460 Tweet 1538
      ItsBlockchain

      We are India’s first and oldest Blockchain & Cryptocurrency publication platform started in 2016. We are a one-stop destination for technical analysis, cryptocurrency recommendations, and Blockchain technology resources.

      Buying Guides

      • Buy Bitcoins in India
      • Buy Bitcoins in China
      • Buy bitcoins in Russia
      • Buy Bitcoins in Japan
      • Buy Bitcoins in Turkey

      Important Links

      • Home
      • About US
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      Follow Us

      Contact us

      support@itsblockchain.com

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      No Result
      View All Result
      • Bitcoin
      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.