All of those ads were mainly promoting CFDs (contracts for differences), which basically allows you to speculate on the rise or fall in prices of Bitcoin. For those who are new to CFDs, you are basically buying a contract between yourself and the CFD provider, and NOT the underlying asset. In other words, you're not buying the actual Bitcoin(s) and neither do you own it.
I won't name and shame the companies here, but their tactics are similar:
- - Talk about how some young Singaporean investor became a millionaire by investing in Bitcoin and tell you to "learn how he did it here!"
- - Highlight how you could have been rich by now if you had invested in Bitcoin earlier this year
- - Tell ...
