Hello Friends,
I am not a very good investor but in the last few years, I have learnt a lesson about investing. Some of the points that are very important when we think of investing in Crypto projects. Even if we miss all those points one thing is very important never invest in any project because influencers are talking about it. We need to understand this point where we are and I am going to explain why I'm thinking.
There is no free lunch in this world which means if any influencer is talking about any project a lot then it is a clear signal that he is paid for doing that. Influences are not always community-friendly because they intend to make more money through their community and hardly any influencer is trying to care for the community. I'm not saying that all are the same but the majority is the same. They're awesome and are doing great work but that chunk is too little and as far as I have seen crypto influences in the market they try all the possible ways to use their community.
They try to promote different projects where they are paid. They tried to use the referral through their community where they were a lot. They don't care whether you lose or win but they are more interested to make earning for themselves. They share some financial advice where if you lose then they try to take a safe passage that they informed to invest at your own risk. When make money they come forward for credit that they suggested. I have seen so many examples and I tried to observe many things in the market.
Even though I'm not a big investor in Crypto and I have invested some amount in different coins. Maybe in future, I change my plan but for now, I am more in the learning zone where I learn and observe my market. One thing is clear newer trust and influencers and do what you want to do don't ever be influenced by any influencer because they are here to make money for themselves not for you.
Thanks for stopping by