Cash App is a safe and secure platform but you might fall prey to scammers or fraudsters. Scammers keep trying new ways to cheat the Cash App users. One of the trending schemes launched by scammers is the Cash App $100 to $800 scheme. Users are handing over their hard earned money to the scammers without knowing whether this scheme is real or fake. Many of us want to know whether such schemes are real or fake. Such schemes are not real, they are just frauds and scams to trap you in. The users should be extra cautious whenever they come across such schemes or if there are popping up messages in your mobile or computer.
Here Cash $100 to $800 is also one of such scams and if you engage you are at the risk of losing money.
What is a Cash App $100 to $800 scheme?
The Cash App $100 to $800 is an Online money involving game also known as “blessing loom”. First of all, a person posts a request to join this exciting “money circle” or “ blessing loom”. Your near and dear ones see you request and join through it. And if they fail to join more people to the game, they lose the money. In this way, this blessing loom lets you dupe your own people or friends. The post states send $100 and you’ll get $800 in return. When you send $100 you get a spot at one end of the loom and when you get more people to join the loom, you start moving towards the centre and your payout gets bigger.
Does Cash App $100 to $800 scheme work? Here is the answer
Today’s generation wants to become rich in no time and that’s why they are getting in easy money making traps easily. This is because when they see the rich people they start aspiring to become rich like others. But they don't see how much, sweet, and tears it took to get to this level.
Therefore, when we get a chance to get easy and whopping returns we get trapped in such scams without knowing whether they are real or scams.
However, the Cash App $100 to $800 scheme is not real, it is a scam. Because turning $100 to $800 in the Cash App is not possible. You will lose your money if you get trapped in this pyramid money scheme.
Such scams are designed in a way that attracts you and your circle friends, family members). The scam attracts as many people as possible and therefore all your near and dear ones are at risk.
How does the Cash App $100 to $800 scheme work?
Here is how does Cash App $100 to $800 works. When you come across such a post or story on social media, you get an invite saying Send $100 via Cash App to get $800 in return. The person whom you send money to is in the middle of this loom. When you send $100 via Cash App, you get a spot on the board, however, you get the spot on the outer ring when starting. You start moving closer to the centre of the ring as you let more people into the game. Moving closer to the centre means getting a big payout. However if you fail to get people to join the game, you lose your money.
Should you invest in this scheme or should you let others invest, too?
You should think twice before letting your friends or family members join the game. Because when they lose the money, this has a big impact on your relationships with people you know. You have recruited them to join the game therefore, you are the person responsible. Cash App flip scam is another similar scam that boasts of crazy returns. Here the scammer is a person who has hacked Cash App or knows someone in the company.
A scammer runs and obeys you until you send them the money they asked you for. Once they get the money they may disappear, close the social media account or don’t answer you. Sometimes they also ask you to send more money to qualify for the $800.
How can you recognize such a scam?
When you get a message or mail, it is always a red flag when it comes to scams. You can recognize a scam not only in the Cash App but also in other apps or in our day-to-day life.
- A scam always boasts of making a lot of money.
- Many times, a scam app gets involved with involuntary glaring review of the scheme.
- Sometime, your friend or family member’s account get hacked and the account of your friend or a person you know, starts posting a money-making scheme
In short, no one can give you free money, if someone endorses such schemes, he/she is most likely a scammer. You should never trust big claims without details or explanations.
How can one avoid such scams
Scammers are like hunters roaming in the vast space of the internet to find the prey (people who need money). Scammers target a minority of people who are making online searches related to money. If you see a money related ad promising you a lot of money could be a scam.
When you see a person promising a lot of money Online may be a scam. To recognize such scams, remember these things:
- Don’t send money in a hurry and try to collect complete information about the Ad you see Online.
- Cash App says in its “terms & conditions” that it is not responsible to get your refund.
- Make complete research Online using Google or other search engines and read the reviews about it (here $100 to $800).
- Find if the person or company is reputable before you send money using the Cash App.
- Mind asking your near and dear ones, if they know about it.
Why do scammers prefer using financial apps like Cash App?
Scammers like using financial apps like Cash App, Zelle, Venmo, and Chime because these apps send money instantly to recipients. The scammers prefer using the apps mentioned above because of the speed and the fact that these aren’t banks. These apps are not responsible if you send money to a person (recipient) by mistake. As it only depends on the recipient whether he returns your money or not.
Is Cash App $100 to $800 scheme legal in the US?
For some people losing $100 is normal but it could be devastating to lose such an amount.
According to the North Carolina Department of Justice these schemes are referred to as “gift clubs” and these are not legal anyway.
Can someone really flip money using the Cash App $100 to $800 scheme?
No, it is not real as it’s just a scam. Scammers trick you to trap you promising crazy returns. For example, in a $100 to $800 scheme, scammers promise to make $800 for $100 you invest. Reminding you again, the Cash App $100 to $800 flip is not a real scheme. It’s just a pyramid scheme you need to avoid.
Finally, we conclude that the scheme $100 to $800 on Cash App is not real or legitimate. It’s a scam to trap the people who are searching for easy ways to make money online. If you get trapped in this scheme, you end up losing your money. However, Cash App is not a scam, it’s a genuine app to make financial transactions. The scam “Cash App $100 to $800 scheme” is not a scheme from Cash App.