BEFORE YOU INVEST YOUR MONEY INTO ANYTHING ONLINE

 

BEFORE YOU INVEST YOUR MONEY INTO ANYTHING ONLINE

We all love finding money in different ways. We also love to invest into something and at the end we benefit out of what we had at first.

Investing your money online can be attractive, simple and beneficial. But at the same time, it may be dangerous if you keep on forgetting important principles. I am not a financial advisor but I am pretty sure some of the things I will talk about in this blog may be beneficial.

Let me first appreciate you for reading this blog, it means you want to gather tools to help you not to fall into any scam.

Recently in Zambia there were some online businesses which got famous and a lot of people invested into these. These are no other than E Tesco, E Million & not to forget Go Like. Most Zambians benefited and thought they will continue benefiting out of these. Unfortunately, on July 23, 2021 all these three sites were shut down and people who invested into any of these were swindled.

In recent years used to be a certain investment opportunity called African News Pay or ANP. The system was crushing repeatedly and many people were losing money.

According to the Zed Diary, a Facebook News Reports that about 23 million Kwacha (about $1,022,222) was swindled by the person behind these schemes.

People invested almost everything they had. Some reports says that people sold their cars, some got loads and others used school fees. I am deeply sorry so these people and looking forward such mistakes and so the principles from this blog is here to help anyone who may want to take such risks of making investments.

1. Carry out Research

You probably heard and saw someone making money and withdrawing at the end. That sound cool but there is something which must put into account when we discuss researching, and this is what to research.

Of course, researching if something is legit may be the good idea, but also not forgetting the background of what you are investing in is also important. Ask yourself these questions:

How long is this company coming in?

In how many countries is this available?

What is the business' physical address?

Suppose it was to be ban today, am I going to afford losing the money invested?

You can also find out from big companies whom the company claims to be affiliates of their business. For example, E-Tesco claimed to be helps merchants such as Ebay and Amazon, If you were aware of this, did you try to contact them and find out if they are aware of that company? Did you find out if such companies can be helped using those ways of helping them? This was the serious mistake many Zambia made with E-Tesco and other online opportunities.

2. Be patient enough.

What you should know is that the business can be robbed or hacked by hackers. Even if something was legit, hackers try to break in, that means you have to give the business enough time to see if it can cope and upgrade its security. This means early investments are nice, but it is good to let the business mature in doing what they intend to.

3. Apply Proper Risk Management.

Risk management refers to knowing how much you can invest and when to do so. It is a skill which you need to acquire and it requires enough information.DO NOT invest more than you could afford to lose. You have heard of schemes such as ‘more money you have, more money you make. This sounds to be good and I can admit it is so tempting. But having in mind the information from the previous points helps us see that we need to have limits in what we do.

4. Do Not Be Attracted to Money.

We all need money, and we struggle to find it in different ways. We also try to find something to save. Business men and women knows about this and they use this lure of making more money in big investment as a lure to get money from others. If you are attracted to making more money, you may end up losing almost all you have. Before Zambians were swindled they were told to invest more money so that they get more money at the end. When they invested, they suffered they consequences. Those who were content with what they had they did not fall into such rule.

Last but not the least

5. Contact your local Authorities.

This is an important and one who takes such actions never go wrong in life. In Zambia, for example, you can try to find out from ZICTA, about what you are hearing and list down different questions if they are aware about that opportunity. You can also find out the risks you may take if you can be refunded when it happens that money has been swindled. Contacting such company is a lot easier especially nowadays. You can try to browse through their webpage and read about their rules. You can also try to contact them via social media accounts.

CONCLUSION.

Making money online is possible but it is not as simple as it may seem. Internet is crowded by Scammers, spammers, and also hackers. It is important to protect yourself and apply some helpful information from this blog.

Now the questions from Zambians:

Was the ZICTA aware of the above companies?

Was the ZRA aware of these companies’ schemes?

Are there ways which people behind these companies can be traced.