When entering the cryptoworld, if you’re like me, you’ll try to do as much research as possible, to cover as much ground as possible, so you can start understanding all the things that are part of the crypto environment.
As such, on your hunt for information, you will jump from one platform to another, from subreddits, to Twitter, to various Telegram channels, Facebook, publish0x, leofinance and whatnot. Another reason to constantly hunt down good intel is represented by the possibility of finding the next crypto gem and get in early, in order to maximize your profits/returns.
As a crypto noob (like myself), you will find out that the crypto world is a jungle, with tons of info coming at you from every possible side, every bit of it sounding very promising.
To keep it short, here are some things to look out for:
a. on the ‘CryptoMoonShots’ or ‘Altcoins’ subreddits, more than 90% of the posted content is most likely a scam, rug pull, shill or pump and dump material. Some scampost markers:
when the OP or in the comments you see ‘their Telegram channel has so many members’ or ‘their Telegram is sooooo active’. Bullshit! Yeah, cuz you’ve populated a TG channel, that definitely means you’re legit;
when the Dev team is anon(ymous). Would you invest if a complete stranger, you’ve just met, asked you to?
when you have the names and credentials of the Dev team, but you can’t doxx them (find any info on them). Hi, we’ve just made up some names and resumaes, please invest, thanks;
various crap about how the Market Cap or the number of coins to be minted or burned is gonna make you rich in days;
-if the Dev team (or just someone) holds a large bag/percentage of that coin, that can be a major pump and dump sign;
if the OP or some people in the comments say ‘oh wow, they got such a smooth looking site’. Yeah, right. Same like with the Telegram channel, if you have a good looking site, I’m definitely gonna go all out;
bot type comments. For example ‘wow’ looks good, I’m in’, ‘it’s promising, I’ve just bought a small/large bag’, ‘I’m with you brothers, to the mooon’, ‘I can’t believe it, this has such a 10x-100x potential, glad I’ve found this’
b. Tweets or Facebook group posts that resemble the abovementioned subreddits.
c. Like in real life, whatever the platform you’re on, if something looks too good to be true, usually it really is that way. And remember, no one is out there to make you rich (not even Elon Musk).
Next post, I’ll try to sum up some ways to stay safe while earning.
Have a nice and profitable weekend!
