As much as crypto as made alot of people rich, crypto has made alot of people cry. Alot of people has lost their money to crypto hype or crypto scam. That does not mean crypto is scam. Alot of people outside the crypto space hold a believe that crypto is a scam because they lost their money. The basic truth is that many people lost their money to crypto hype or scam because they are greedy.
When coming to crypto space being greedy must not be part of you because you will loose money.
Alot of project in crypto space are nothing but scam and hype. You have to make good research before you invest your money in any crypto project. Alot of people are making this mistake because they think making money in crypto is easy.
Any coin you invest your money in is a project, it can either be good or bad project. Each day new project are coming up but not all project can stand the test of time.
I will try to share with you below some of the crypto scam and hype so you can avoid them.
Project that does not have value:Every crypto project has a problem it's solving, no good project can stand the test of time if it does not have any value or problem it's solving, problem solving gives it value.
Rapid increase in price: Alot of people has fall for this trick alot, rapid raise in price does not mean the project is good or has value. Many times this crypto scammers try to manipulate price so people can come in.
Air drop and new coin:
Air drop is cool but you need to be very careful if you want to purchase air drop at their pre-Sale. kindly stay away from coins that does not allow you to sell it at any time you want. You need to make alot of research about any air drop or new coin before you invest in it, many of them are trash. You don't need to share sensitive information with anyone because of air drop.Stay away from social media hype:Social media hype has cause lost to many investors, alot of this online YouTubers and bloggers will give you false hope about a project but at the end you will be at lost.they will make money for you watching their video and you will cry. Pleas be careful about them because they are one of the major reason people are losing their money.
You need sufficient knowledge before you can invest in cryptocurrency. If you jump into the crypto space you will jump out crying crypto is scam.