I know how hard the economy is on the average Nigerian, and in a quest to survive, we tend to want to invest in any scheme that promises good rewards without carrying out proper research on it.

Tens of financial schemes have emerged in the past few years, from investment platforms like MBA forex to Ponzi schemes like MMM and many others. While some work on a referral basis (you earn when you refer new people), many others like Racksterli assured investors that they didn't necessarily need to refer to earn.

Guess what? All of them ended up the same way, leaving thousands, if not millions of investors in dilemma.

Smart Swapp Review

Back to the business of the day...

We're just a few weeks to the 'EMBER months' and another platform has appeared and just like the others, with a different strategy.

With the name smartswapp.com, the founder of the platform is trying to do just the possible best to make cryptocurrency enthusiasts invest in the platform.

I'll be penning down their payment plans as we proceed, but before then, let me put down some things you might want to know about the website (smartswapp.com):

• smartswapp.com is registered on Namecheap
• smartswapp.com was registered on 17th July 2022 (last month)
• The owner of the site hide his details from public view, while some might argue that s/he did it for privacy purposes, let's look at the next point...
• The official website doesn't have an 'About Us' page (why does this matter? Let's look at the next point)
• There is no available information on the owner of the platform, and so far, it's not registered anywhere in the world. If you're scammed, there's nobody to report to.
• The business doesn't operate any social media pages, just Telegram. Any legitimate business owner should have a social media page, Telegram is an instant messaging app that allows users to conceal their phone numbers, making it one of the best choices for scammers.
• There's no contact phone number, just email. So there's literally no way of knowing which country smartswapp operates from.
• Users can only fund their accounts with USDT, meaning that there's no way of getting back your money if you get scammed.

About Smart Swapp (and their packages)

They have different packages including:
• The $20 package (5.3% to be earned by mining daily after 30 days)
• The $50 package (5.3% to be earned by mining daily after 30 days)
• The $100 package (5.3% to be earned by mining daily after 30 days)
• The $150 package (5.3% to be earned by mining daily after 30 days)
• The $300 package (5.3% to be earned by mining daily after 30 days)
• The $500 package (5.3% to be earned by mining daily after 30 days)
• The $1000 package (5.3% to be earned by mining daily after 30 days)
• The $1500 package (5.3% to be earned by mining daily after 30 days)
• The $3000 package (5.3% to be earned by mining daily after 30 days)
• The $5000 package (5.3% to be earned by mining daily after 30 days)
• The $15000 package (6.3% to be earned by mining daily after 30 days)
• The $50000 package (6.3% to be earned by mining daily after 30 days)

Who owns smartswapp.com?

I tried researching on the platform and it turns out the owner did everything possible to conceal his identity.

But then, how did I hear about it?

Do you remember Racksterli, the alleged “Ponzi Scheme” that trended last year after shutting down with billions of Naira invested by Nigerians?

Racksterli platform was introduced by Michael Chidiebere Oti, also known as Black Gold and it had several packages, ranging from ₦14,000 (and a guarantee of ₦21,600) to over ₦20 million. The Racksterli investment scheme was trusted by Nigerians after Blackgold got afrobeat superstar, Davido to help push the platform.

Blackgold claimed the accumulated funds were diversified into cryptocurrencies, forex trading, real estate, and other business ventures.

After running for a few months, Racksterli closed down, leaving thousands of investors in tears with billions of Naira left unaccounted for.

As if that wasn't enough, Blackgold still informed the investors that they would get their full refunds after investing the same amount being owned to them in what appeared like a 'phase 2' of the old platform. As usual, Nigerians fell for the scam and he also eluded with the investments.

Why did I bring up the Racksterli issue?

At this point, I know you might have been pondering on the relationship between Smartswapp and Racksterli. Well, Blackgold is still the person publicising the platform, but this time around, he's using a different 'business' strategy.

He's not going on Instagram (after all, he already deactivated his Instagram account), and neither will he be going on Twitter, but he chose to use WhatsApp.

He has not come out to tell us the owner of the platform, but he claims he's also an investor in the platform and he has been earning from it.

This is the message he sent to me after I requested interest in earning from the opportunity that he advertised:

If you look at the message, you'll notice that he's making it appear like he is sharing some good news with us, while also adding a disclaimer clause; 'If you benefit, congrats, if you don't, I no send you do o'. It's more like, I have a very good investment platform that I want to refer you to join (after eating your money last January), that platform, I don't trust it, but still put your money regardless because I want to help you.

Now my question is, why does he have so much interest in a new investment platform owned by an anonymous user with no single contact address? Is this the best he could come up with after months of leaving his investors hanging? Think about it.

Conclusion

While I don't want to pronounce Smartswapp as a scam (I've not gotten reports of them scamming anyone), I also won't declare them legit, because they're yet to pay any of their investors.

Platforms like this typically pay investors for the first few months, so I wouldn't be surprised if Smartswapp follows the same patterns.

In other words, your friend telling you s/he got paid shouldn't push you into investing, it could still close down.

I always advise people to invest what they can afford to lose, and never borrow to invest, especially in a shady company that promises to pay 5% daily profit on investments.

What do you think? Did you invest? Did you get paid? We're looking forward to your comments on the Smartswapp investment platform.