The website shiba.limited is offering yield farming on the Binance Smart Chain. The yield farming opportunity revolves around a token called Shiba.
We fail to trust Shiba.limited simply because it is misleading investors by making them believe that yield farming produces guaranteed profits fast and easy. This is why we cannot include such projects on our list of recommended investing services.
The platform claims that users will be rewarded with 5% ROI on a weekly basis as a result of staking their coin.
Furthermore, Shiba.limited wants to reward investors with 50 million of free Shiba for simply sharing the coin on social media.
Is this Shiba even a useful token or something that’s worthless?
The website is currently hustling investors into purchasing Shiba token.
Since it is a Binance Smart Contract token, it is purchased in BNB Cryptocurrency. The minimum that investors can spend purchasing this token is 0.1 BNB.
Keep in mind that 1 BNB is currently equals to $304. So you are basically spending real dollars to obtain a token that is not yet established.
Shiba.limited is also luring people into obtaining this token through running a faucet in which people can claim their coin after every 10 minutes.
The website appears to be build around the deception that yield farming and staking will produce guaranteed returns.
This is why the website is promising 3% daily or 1,095% APR.
Why Shiba.limited is a deceptive website
They encourage long-term holding of the Shiba token aka yield farming with the promise that investors will make money.
This is a red flag and a false thing since we don’t even know the value of Shiba token just yet and secondly, even if it had some value, these coins are known to lose value overnight, thereby causing investors to suffer losses.
Long-term holding of such a coin is even more dangerous as it is not very stable. Even stable coins are known to lose their value and cause massive losses.
In fact, we were discussing this in our review of Yieldfarming.com.
Also, the website of Shiba does not provide enough information about their token. They have a documentation link on their website but the problem is that this link is dead.
The roadmap does not help us in any way since scammers also have a roadmap which they display on their website to try gaining some credibility.
The website owner does not want you to understand that Yield farming is a very risky method of investing.
Many people lose money to such scams on a daily basis. Moreover, the more people enter it, the less profitable it becomes.
What to do if you have been scammed by Shiba.limited
You can request for a chargeback because it is possible to recover any monies that you may have lost in the process.
You will need to fill the form on this review or utilize the livechat down below.
Majority of victims of the scams have recouped what they’ve lost and we do not consider recovering lost money from Shiba.limited a problem.
Avoid this quick profit website like Shiba.limited because this is clearly a fancy scam.
While going through user reviews, I saw one reviewer saying the website does not pay meaning that what they are doing is actually not profitable.
The rest of the reviews that we saw also appeared to be fake or somehow fabricated.
This is a very dangerous investment website. Avoid.