Alright, let’s make this one quick. It’s a program called VirtaPay and they’re claiming to be the next greatest virtual currency. They’re also offering an obscene amount of money to “early-bird” users to thank them with developing the program.
Is it real, you ask? Well, let’s find out.
Is VirtaPay a Scam?
This one is tough because there’s nothing really going on here. There’s no product to buy or money to invest. You sign up for an account, receive $25 and VirtaPay promises to “give” you $20 every day that you sign in. Only problem is, you can’t actually do anything with the money. It’s just some arbitrary number that goes up every day.
That’s really all there is to the program.
I checked their Facebook fan page and there are currently some 49,000 people who ‘Like’ Virtapay. Let’s assume the company has 50,000 members total. I’m sure that number is much higher, but the nice rounded number will make for some easy math.
Okay, 50,000 members all receiving a $25 sign on bonus comes out to $1.25 MILLION dollars they’ve just “giving” away for no reason. Plus, they give out $20 per day just for signing in. Again, at 50,000 members this is ONE MILLION DOLLARS PER DAY FOR DOING NOTHING. There’s no way a company can just give away a million dollars EVERY single day for no reason at all. That’s not how businesses work.
Let’s envision this program off the Internet. Say there’s a store that hands out $20 bills just for walking in the front door. You walk in, collect your $20, then walk out.
It sounds completely absurd, no? The line to get into the store would be miles long. If that wasn’t enough to convince you, let me just point out this little paragraph from the Terms & Condition page…
All account balances are held in VirtaPay virtual currency. VirtaPay maintains a virtual currency that is autonomous and independent of all nations and governments. The VirtaPay currency is denominated in dollars and cents (similar to the currency of the United States and over 20 other countries). The VirtaPay currency is currently in a closed system, and cannot be exchanged or spent outside of this system. Our plans include person-to-person transactions, integration with merchants and shopping cart systems, and much more. As is the case with any currency, once the VirtaPay currency comes into widespread use, its value as weighted against other world currencies can and will fluctuate due to market forces such as supply and demand, etc.
That’s straight from VirtaPay’s mouth. The money is useless and means nothing. You can’t exchange it or spend it on anything outside of VirtaPay. It’s absolutely meaningless and VirtaPay agrees.
The Bottom Line
The old mantra “if it sounds too good to be true…” comes into mind here. No one is going to pay you $20 per day just for signing into a website.
It just doesn’t happen.