Cryptocurrency Scam
News | 09/27/2018

Free ethereum Spinner – A Honey Trap

About: Developers have resorted to Cryptocurrency platforms to generate revenue. Apps like Free Ethereum Spinner and Free Litecoin Spinner are used to lure users in a honey trap with exciting offers pertaining to the Ethereum & Blockchain technology for fre...  Read More  

| News | Free ethereum Spinner – A Honey Trap

Cryptocurrency Scam

 

‘All work and No Play makes Jack a dull boy’. Since childhood we have been taught to maintain a balance between the work and recreation to revitalize the mind’s abilities.Free Ethereum Spinner

However if told that playing online games can make you rich, would you believe?

Online gaming is gaining immense popularity especially among young generation as it is a source of entertainment and refreshment after a hectic schedule. Earning money by playing games online at the same time would be the icing on the cake.

Most of us may be acquainted with the fact that earning money by playing games online is now possible. However earning a quick buck without spending a penny is like dream come true.  With Free Ethereum Spinner and similar cryptocurrency game apps available on Google Play Store, you can mint money while enjoying playing. All you need is an android phone and access to Internet. Excited ? Don’t Be! Read more!

What is Free Ethereum Spinner?

Free Ethereum Spinner is an android application available on Google Play Store from February 2018. The app has been well received by the public with more than 100,000 downloads until today and thousands of positive reviews with an average rating of 4.5 stars.Free Ethereum Spinner

The app allows user to earn money by spinning a wheel of Fortune. Turning the wheel is possible only if you have enough power or say energy. The energy can be replenished by:

  1. Either completing the tasks that will earn you max energy, or
  2. By Watching a video that gives you some particular amount of energy.Free Ethereum Spinner

In between the game, users are interrupted with annoying third party ads that are displayed for 30 seconds.

How to make money with Free Ethereum Spinner?

As mentioned earlier, to play the game you need to have certain amount of energy. To start with you can select from two types of energy categories:

  1. The one that fuels you with 3K of energy.
  2. The other that costs 5K of energy.Free Ethereum Spinner

The latter is more rewarding in terms of premiums. To earn with Free Ethereum Spinner you need to spin the wheel. The spin can make you win amazing prizes in Gwei (1 Gwei = 0.000000001 Ether). With time the energy goes up. After the energy goes up to a certain limit you ought to regenerate by one of the two methods mentioned above. It takes a maximum of 4 minutes to run out of energy.

To complete the game you should have the maximum energy which is 50K. Hence, it takes approximately 10 hours to finish the game. 

How to withdraw the gains of Free Ethereum Spinner : A Cryptocurrency Scam?

The payment of this game is made via Coinbase wallet. Once you open the app you need to create an account in coinbase wallet.Coinbase

The same email of the Coinbase payout account is requested for registering for the app. The gains of the Free Ethereum Spinner can be withdrawn every 3 days and the payment is immediate.Free Ethereum Spinner

The request for the withdrawal can be made only when you have more than 10,000 Gwei in your wallet which is equivalent to 0.01 Euros.

Cryptocurrency Scam – Pros and Cons of Free Ethereum Spinner

Pros

  1. The app will enable to enter the Ethereum & Blockchain technology for free without you having to invest any money of your own.
  2. The amount earned with this app can be spent on online shopping, buying tokens at ICO (Initial Coin Offering) etc

Cons 

  1. Your electricity bill will be exponentially high than what you actually earn from the game.
  2. Many people expressed dissatisfaction and revealed that the money earned is not worth the time spent on the game.
  3. Users can stop receiving coins anytime by the developers. Hence this could end up like a scam with thousands already hooked. 

Profits made by the developers via Ethereum Cryptocurrency Scam

Nothing is free in today’s world. Every luring technique has a deceptive motive behind. Free Ethereum Spinner is no exception. Displaying apps in the middle of the game generates revenue for the app developers.

Users could be entangled in this booby trap of mining crytocurrency without knowledge!

Moreover, installation of the app acts as a front door for the app developers to gain access to the following information from the device:Free Ethereum Spinner

  • Calendar
  • Contacts
  • Location
  • Photos/ Medias/ Files
  • Device’s Camera
  • Microphone
  • Device ID and Call Information
  • Data from Internet
  • Document Storage

This information might be misused by the developers against the users anytime in the future.

Hence, we should refrain from downloading such apps on our devices.

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