Crypto Investment Platform
Is Dogeland Fake or Real?
Why is Dogeland Fake?
Dogeland claims to be an investment platform where users can earn Dogecoins simply by signing up and logging in. No real company would award users money for doing nothing, suggesting that Dogeland may be a scam.
There is also a $30 joining gift given to new users. However, the catch is that this amount cannot be withdrawn unless you reach the withdrawal threshold. What this means is that you cannot earn from the platform unless you pay first.
Dogeland also claims to reward $1 in Dogecoin just for inviting more people to join. There is also a three-tier 10%-15%-25% referral commission bonus on deposits made by referrals. This indicates that Dogeland is a pyramid scheme.
A domain name lookup of the website shows that it was registered on 16th February 2021. The registrant’s details such as name, location and contact details have been hidden using a paid service. Therefore, it is a new website that is being operated anonymously.
The website claims that ‘Dogeland is a legal’ (sic) as it is operated by a registered company called Sapphire Digitale Gaming GmbH. If it really was a registered company, there would be a record of it online. However, this is not the case which means that Dogeland is lying about being run by a registered organization.
They also claim that they purchase mining equipment to mine Dogecoin from the investments made by users. There is absolutely no proof that this is true.
The only source of income for Dogecoin seems to be the deposits made by users. Combined with the fact that they reward investors for bringing in more investors, there is reason to believe that Dogeland is simply a pyramid scheme.
There is no information given about who is running the website. The only contact method provided is an email ID (email@example.com). No social media pages have been mentioned on the website either.
Several reviews of Dogeland can be found on sites like Scamadviser and TrustPilot. The reviews are largely negative. Users have complained that they stopped receiving payouts after the first couple of withdrawals.
This is another sign that Dogeland is nothing but a pyramid scheme. Fraudulent schemes always pay out at first to gain the confidence of investors so that they refer more people and reinvest larger amounts.
It is quite obvious that Dogeland is a scam. They are claiming to pay users just for logging in, which is basically doing nothing. The $30 joining gift is just a ploy to make users invest in the platform, as the amount cannot be withdrawn unless the withdrawal threshold is reached.
Dogeland also claims to pay users for referring new users. They also have a 10%-15%-25% referral commission bonus program that rewards users when their referrals make a deposit. Such incentives are only seen in pyramid schemes.
On the website, it is stated that it is run by a registered company called Sapphire Digitale Gaming GmbH but there is no registration information provided to verify this claim. No record of this company being real could be found online, which means it is a lie.
The reviews of Dogeland are mostly negative. Investors have stated that they stopped receiving payouts after the initial withdrawals. This is a classic sign of a pyramid scheme.
It is advisable to avoid investing with Dogeland, as it seems to be a fraudulent scheme.
Remember: If something seems too good to be true, it probably is.
To read about other Investment Scams, click here.
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If you have been a victim of an investment scam, you can take the following steps:
- File a complaint with the payment portal. However, investment scammers mostly use methods such as Bitcoin, Western Union, MoneyGram and other untraceable methods which make refunds impossible.
- File a formal police complaint with the Cybercrime department.
- Leave a negative review on review portals such as Scamadviser and TrustPilot
- Report the website to Google using the Suspicious Site Reporter extension for Chrome
- Give a low rating to the website on Web of Trust. You can also install their extension for the same.
- If the company has a listing on Google My Business or Google Maps, file a complaint using the Business Redressal Complaint Form. Also, leave a negative review explaining what kind of experience you had.
Disclaimer: The views expressed in this article are presented as an opinion based on available information. This review is intended for information only and should not be relied on when making financial or business decisions. There is no malicious intent or attempt to defame any individual/s or organization/s. If you are a website owner and would like to provide clarifications regarding your business and/or website, please get in touch using the Contact Form.