Bitcoin Forum

I have witness many events where people refer to cryptocurrency as scan, because of lack of understanding and awareness on how cryptocurrency works, and aslo the  way to approach cryptocurrency in other for them not to get scammed.
alot of people are not aware that someone can easily be scam with cryptocurrency and it online exchanges, because they lack understanding that alot of cryptocurrencies and alot of crypto online exchanges out there are scam. and when those who lack understanding about cryptocurrency get scammed, they we come into conclusion that cryptocurrency is a scam.

That's why I always advise that individuals need to understand the risks that are involve in cryptocurrency  because everything about cryptocurrency is risk taking including, crypto trading, crypto investment and  it online exchanges.

Secondly without proper understanding of cryptocurrency and it online exchanges, individuals may fall prey to scam, making them vulnerable to scams and frauds, which may result to financial looses, and they we start calling cryptocurrency a scam.

And thirdly the one that funny me the most, is the one they refer to the price movement in the crypto market as scam, because of increasing and decrease in price of cryptocurrencies in the crypto market, which I also refer to that as lack of understanding of the crypto market.
Cryptocurrencies are volatile in nature it price movement can make someone believe that cryptocurrency is a scam.

without the proper understanding and the awareness that cryptocurrencies are designed to fluctuate rapidly and unpredictablely in price you we refer to cryptocurrency as a scam.

Well that one way u dey talk na just ignorance because if no be ignorance you go gats find way know watin you dey do or atleast make small research about the particular thing wen dem say na scam and if you no do am it just show you are ignorant and have believe the supposed scam talked placed on the particular thing.

The world today is filled with ignorant people and again no he only cryptocurrency or Bitcoin dem dey even use scam person as they fit even use ur normal fiat too.

Understanding is everything  but like watin you talk, what if the person no just care about the thing for the first place because some people can do so many stupid things or even he just hear about the sweet sweet part of Bitcoin for example and just ignorantly decides to join without himself asking some questions and doing research or even so making sure like the stated, understanding the whole concept of what is behind it.

Fluctuation is not even the thing with cryptocurrency and how people dey see am as scam, na wrong investment people dey do because them want fast money and so even if there is fluctuation, it will be against them and their shit coins go drop but if you invest in a promising coin, fluctuation self go be wetin you go dey expect because you know say na up e go dey go. No even all coins dey get this kind of fluctuation wey you dey talk about, at least coin need to get enough trading volume before we go begin look that side self except na bull season wey anything fit happen for the market anytime.

But it's normal nah say on how person put body for any area of business way him no get good idea about how it works him go collect wetin no good. And when it happens to am with a bad experience him go the complain say the business no be better business meanwhile other people dey way the do better and make cool money from same business.
Same applies to cryptocurrency, you first gat to spend your initial time  to learn the basic necessary skills and knowledge and not see all those learning periods as waste but as building-blocks to prevent yourself from the negative side of the industry. Because normally, this crypto industry dey very brutal and it doesn't want to know whether ur a newbie or advanced in the field.

OP, you need to understand say majority of cryptocurrency na scam make the dev them create the project to scam people through punp and dump. This na e make me feel say new people wey dey come the cryptospace no need know any other coin apart from bitcoin. Bitcoin na e be the only legit coin wey people trust and believe. Another problem be say those wey come know about bitcoin won use am make money fast through trading even if them know say na through long-term investment them go fit use profit and limit the risk.

It is good to understand that cryptocurrencies are very volatile. Altcoins are most volatile and some are not getting to all-time high which makes them to be gambling. It is good to know that you should gamble with altcoins.

But patience is very important in crypto. Be patient for bear market to be massive already before buying. Also using bitcoin to know bear market and not altcoins that are pump and dump.

Also while buying bitcoin, patience is also very important. Impatient people will likely lose.

We can't deny the fact that there are some level of scams associated with the crypto currency trading These newbies that saying those stuffs about crypto currencies as scam, must have started on the wrong lane. Maybe their first experience ended in scam. Maybe they might have met someone who talked them into crypto currency and the person ran away with their money. You know that first impression mentality is still dealing with them. On the aspect of the market going up and down is not a strong reason to say the industry is a scam. Anyone saying that is an ignorant person who has refused to accept knowledge and doesn't read. Even the pioneers of this industry had made it known that the market is not stable, that going up and down is part of the market of the system.

Yea, I think the op should get to know this and prioritize not being a victim of this scam projects, infact you have just said my mind, concentrating on Bitcoin alone as you said is the best approach if a newbie wants to stay away from any stuff called scam in the entire crypto space, another thing op shouldn't do even when he or she is into Bitcoin investment is not to think that Bitcoin investment is a get rich quick investment, am emphasizing on this because some folks start having the mindset of trying other coins when they couldn't achieve there earlier plans in a short while, Bitcoin is a long-term asset as such it should be approached with such mindset in other not to get disappointed.

For me I talk about Bitcoin all the time because we have seen it's achievement in a long-term and the trust it got so what then can we say, I know some people like making sharp money, if you're this type of person then change such thinking because in Bitcoin investment things are done gradually for the preparation of the future not for any immediate stuff, so let's think about  Bitcoin with it's long-term concept to avoid being misled by the mindset of getting quick unrealistic profit which may be regretted as the case may be

am not the one who is calling cryptocurrency a scam, the content of my thread says that, I am a witness not a victim and am not calling cryptocurrency a scam, because I no come understand why you and @SIM CARD come dey make an look like say now me be victim or now me dey call cryptocurrency scam, abeg oh me not be victim now witness I be. Me now person wey like cryptocurrency expecially BITCOIN .

In as much as what you are saying is true, I would also like to inform you that you have been repeating one thing in  all your sentence and paragraph and that thing come make waiting you dey talk no dey interesting again. The truth be say ah no blame person wey feel or wey dey feel say cryptocurrency na scam because even me self, normally anything wey ah no know, go look like scam and rubbish or en no go interesting me unless ah don make up mind to learn. And waiting they mostly make them feel this way na because of the trading aspect because profit no dey sure or guarantee and if actually they don try e no work out well for them ah go advise make them try out investing for long because in business, you no go stick to only one strategy, you go need change when the one you been dey use no favor you again.

Truth is, most people who refer to crypto as scam is owing to one or more experience they likely had in their unsuspecting moments in crypto. There's lots of scam activities going on in the crypto space honestly, there's wallet drainer investment and trading sites which trick people into thinking that they're trading, but in essence all coins transferred to the trading account is gone and those lots of experiences gotten out of ignorance reinforces people's beliefs that crypto is scam.

No really call am lack of knowledge but because of false speculations. If you understand the power of informations especially ones way carry negative characters, then you fit say dem dey dey convinced to see cryptocurrency as really scam. Na there u fit say dem dey ignorant to ask questions before dem go believe wetin den dey hear.
Also, the scam news of cryptocurrencies dey also go viral because of the fake coins inside of alt coins way the lack of knowledge people com dey generalize am by including innocent bitcoin.
So if Dem for really come in to see the reality, dem for fit differentiate between alt coins and bitcoin and den have the change of mind say bitcoin legit while alt coins na em be scam because I go need to through process before finding good coins out of the alt coins.

We are in a time were scam has populated to a large number, you can't separate legitimate from counterfeit. Good numbers of cryptocurrencies are published each day but within a space of 3 months after they start trading actively in exchange they disappear. People no longer trust cryptocurrencies and you can't blame them, they judge from the obvious when scammers has overthrown the market, making projects doubtful to investors even when they are worth it.

It is easier to trust Bitcoin than involving in any other, Bitcoin has proven to last with incredible price increase, able to recover from dips something scarce to witness in this days altcoins or meme projects.

The word, knowledge is power, is not supposed to be fancy. When someone tells you something, I think the standard thing to do is either ask them more questions and ask them for proof, they show you evidence of how legit that thing is. Or you go and do your research, people are calling crypto scam because they are generalizing it.

You know, some people thought Tap, Tap, Tap is, is the only crypto. Some people think Bitcoin is the only crypto. Different ideas, they don't know that there are different aspects attached to this crypto, and you need to know which one people are using to scam. So, the least anyone can do, when you hear an information, is to browse. I mean Google, like browsing is at the tip of our fingers, you can just type it in there, so, they've not even sought to understand. Sad

This na why them say make you no invest into something wey you never understand yet because how person wey they call himself an investor inside Bitcoin no go know say the price of Bitcoin no dey stay one place. Before you invest inside something, make sure you do small research to know wetin that thing they really do so you no go put your money for something wey no go give you peace of mind.

Know wetin Bitcoin be, how to store am well and how to send and receive Bitcoin without your wallets getting compromised or losing your assets from our carelessness. Information is powerful and anybody wey no dey inform, no go sabi how to make am for life. As you sabi wetin you dey do and they do am well, you're already closer to being successful whether na for crypto oh or for anything else for life.

People they value knowledge pass understanding but one thing i don learn be say the two they work together. U fit get knowledge but lack understanding on how to use your knowledge achieve greatness. Without anybody telling person, e they logical say people suppose know wettin dem one invest in before thinking of investing inside that thing. Person wey dey go office suppose know say him go carry him files na so investing they. When you they informed na when better understanding of investing go they in us.

Some pipo sef just dey too lazy to even make research by dia sef about  d whole crypto mata so dem go just belive wetin dey fia mind wey be say dem hear from ofa pupo dem say crypto na scam or dem go put all dia energy inside any story wey dem hear about crypto wey happen to be come scam so dat e go be like say dem dey correct and wetin dem talk dey right but d truth still be say dem no get beta knowledge and still no even wan get am because dia mi.d don dey tell dem say na so e be and to change dia mi d go hard.

Sometimes sef even wen dem don c person wey don do well for d crypto mata u go c dem go still no wan believe say ne legit matas d person dey run dem go wan think say d person dey run anoda tin come because na so dia mind don dey programmed say make dem see all crypto mata as scam and not to believe say crypto fit legit, I sha no too blame dem based on say bad pipo don too full d crypto mata com spoil everything com dey make dem believe say na so e be everywhere wey dem talk about crypto.

Rather than trading your bitcoin for short term profit ( which may not benefit you like that of long term)is better you trader others top coins while having good understanding and skill when comes to trading , than going into blind trading just to make quick profits you will only end up blowing your account and losing valuable resources. That’s why is better to go into trading with the right skill like having a good technical analysis (TA) skill .

As for bitcoin if you wanna make use of the potential of bitcoin you have to start accumulating and focusing on long term in it not short term you are not controlling the market , thinking bitcoin will just take days and boom new ATH created ( it can do it though) but if you hold for long you will benefit more .

Wetin you talk na true because most of the people wey no no anything about bitcoin, when they hear cryptocurrency dem dey feel say na all be bitcoin without knowing say bitcoin na separate coin on yin own. One thing wey i discover say na the problem with people wey dey invest for cryptocurrency be say dem dey invest wit the mentality say as soon as dem invest na for the price to start rising so that dem fit take profits but wen dem see say e no work like that again dem begin call cryptocurrency scam. If dem go fit know the difference between cryptocurrency and bitcoin dem for understand say na bitcoin be the only reliable coin wey dem fit invest and stand an opportunity to make profit in the long term. Anybody wey get the idea say dem go fit trade bitcoin come make profit within a short period of time na deceive the person dey deceive himself or person wey introduce dem no tell dem the truth of how bitcoin investment dey take work.

That's true for anyone who is into crypto currency to enjoy the totality of the benefits that are attached to crypto currency especially Bitcoin it's important that they have a full knowledge of what crypto currency is because that is going to help them alot so many people have been scammed of their crypto assets simply because they where not inform about the dangers that are attached to crypto currency especially as it concerns how people have specialized in scamming people of their crypto assets so it's important that people especially new comers into crypto currency have a full understanding of what it's all about

It's important for new guys to the crypto space to know about Bitcoin as they will consider their investments as more reliable currencies and will benefit themselves more. Knowing about other currencies is equally important to educate yourself about their scams. Saving Bitcoin for investment and becoming more knowledgeable about cryptocurrencies will make you aware of the best choices. Another mistake beginners make is wasting capital to trade and they are not implementing their long-term strategy. Long term Bitcoin investment is best considered for those guys.

One thing about all dis kind of technological investment, it is always attached to scams and many people will continue to see it as such if they don’t get to understand the basics of it. It’s very important to know that cryptocurrencies is full of many controversies that only the people that have in-depth knowledge about it will be able to comply with its regulations. Bitcoin may be seen as a scam to anyone because of how volatile the market can be, in which it favours some traders and don’t favour some when in its stage of volatility movements.

Everything wey you see today get purpose why e come and if you wan understand how e take come about, you need to be very open to learning about am, the ups and downs and things wey you need avoid about am, so that you no go regret later why you make some kind decisions wey you no suppose on top am. E fit make you to either like or dislike am based on how the thing go take hit you hard. Knowledge is important and when we get am, we are on a good track to make the best for ourselves for anything wey we venture into.

This means that you want to make it clear that it is extremely important for all new members to learn about Bitcoin at an early stage in the crypto space. I think those who are able to understand cryptocurrency better will be able to advance faster, meaning they will gain the most experience in investing and trading. Moreover I was able to learn through a thread that when a new person joins the crypto space, their initial task may be to gain knowledge only about Bitcoin. As you mentioned another mistake beginners make is that they waste capital to trading but don't implement the strategies in the long term, perhaps because they lack complete knowledge.

People's ignorance about cryptocurrency is basically one of the reasons for their losses. There are investors who do not know what cryptocurrency is. They are only interested in investing for profit. But if they knew about cryptocurrency well before investing, then maybe they would not have faced big losses. In my opinion, a large part of investors knows that investing in cryptocurrency means getting rich quickly. Many investors have lost their money only because of this mistake. Instead of investing in the right platform, they invest in projects that will be revealed as scams in the long run.

# Not choosing the right coin
# Not using a good exchange platform
# Not understanding the market trend, especially not knowing about bearish and bullish trends well.
# Expecting more profit from the investment as soon as you invest.

Many investors are losing their wealth due to not having good knowledge about investing. If the investor invests after gaining a good knowledge of these issues before investing, hopefully he will not have any chance of considering cryptocurrency as a scam.

When i hear or see people calling cryptocurrency a scam i just don't even try to convince them otherwise because i understand that some of them do not even understand the concept of a scam to even start with and so at the slightest chance they have got they call anything that got them loosing some amount of money a scam and thats why they call cryptocurrency a scam only when they are loosing money but when they are profiting, they dont say any of such rather they quietly enjoy the benefits thereof.

Scam for the way wey me i understand am na something no be true, anything wey be say dem dey lie dey use collect somehting from person hand wey be say dem go dey show you something wey be say e no dey just to make you believe say  wetin dem dey talk na true den when dem done collect something for your hand, you go com know say na lie, na dat kain thing be scam, weda dem collect money or dem collect anoda thing na scam be dat. But for Bitcoin mata, most people wey dey call am scam na pipo wey maybe demno get patience to allow d ting profit dem or na pipo wey don go rush hear anoda thing com put dia money inside because me i know say if na tru tru Bitcoin wey you put your money na just for you to dey patient you go get all your money back no be something to dey do now now den you go com dey call am scam because u=you no understand am well and you don go lose money.

And also when they profit from it they don't call it scam but small market downturn they will start to call it scam, well for me bitcoin is not a scam it a digital assets which been hold for a long period of time in other of it worth in the future, the simplest truth is that people lack patience when investing in bitcoin so they find something to cover their misfortune, you can believe that people who call bitcoin a scam are often those who scheme and lose money, you advise people to be patient and understand bitcoin before investing as it's not a get rich quick scheme.

The truth remains that ignorant is a key but there is an aspect those who believe or call crypto scam centered their heart which failed them and they generally tag crypto scam , which is not far from get rich quick some see investing on altcoin or shitcoin as something that happened as speed of light once they invest within a tinkle of an eye the investment will skyrocket but when the reverse become the case where the dropped goes beyond their expectations you see them lament of scam, this is Also as a result of ignorant as op highlighted a good investor with knowledge will override this thought of quick to get rich in crypto and know the best to go for not shitcoin or meme coin without future even if he is given a trial not to the length that the loss will affect him to be lamenting scam or condemned anything called crypto.

Cryptocurrency is filled with lifetime opportunities and it's never a scam. The problem most people have is the patience to learn and understand it. You can't just wake up and start investing in something you have no knowledge about. You must learn before you earn in cryptocurrency, it's a journey of continuos dedication to the process. People think it's a quick rich scheme but it's not, you cannot treat it the same way you do with gambling. Talking about the trading aspect of crypto, some beginners just join groups to copy trading signals, you can't improve doing that.

People prefer to hear about cryptocurrency from others rather than gaining knowledge themselves. In this, they do not get the right information. When they hear from others, it seems that cryptocurrency is a scam. If someone invests money here, he will lose. On the other hand, there are some people who start investing without listening to the whole story and when the market goes down, they get scared. They withdraw all their invested money and since then they call cryptocurrency a scam.

So we all should collect the right information and then take a decision.

Na ignorance dey do those people and when they get scammed then they will generalize it that every cryptocurrency is a scam, and its volatility nature has been misunderstood that the price fluctuations has made people to believe that it is actually a scam and thereby failing to understand that it is the nature of cryptocurrency, people need to know that understand crypto and how it operates is indeed the best approach to navigate the market for a successful investment.

 The first time I heard about crypto currency and it's related components,I was like this people don come again ooo, because I never believe in online stuff the reason was because I lacked the understanding to how these things work.understanding is very key when it comes to the crypto currency market and how it's work and operate,it was untill I read and had the understanding about how this crypto currency work that I believed and now know that it's a valid currency that has come to stay it's a 21th century currency,so everyone should have the knowledge of crypto currency and everything under it to avoid losing the chance of such great opportunities that is out on the digital market and to avoid being scammed by fake crypto sites on the Internet.

When someone doesn't understand how things d work, or they have lost to it before, wetin go enter their mind sharply na to call that thing scam because of their experience of being deceived and lost their money to it by the people they know, who tell them about the crypto investment in the wrong way.

Forget, many people are not informed about crypto investment in the right way. Some are actually told that crypto investment are the quick way to make money. And them go invest with such mindset. You no go blame such kind of people sha for calling crypto scam, rather you we go blame those who got them deceive to introduce crypto investment to them without letting them know about the basic knowledge of crypto

Scamming never ends, we all know that by now. We get acquainted with the system and know the possible forces involved, trying our best to ensure we stay safe from risks of getting scammed. Although, ignorance follow in the process of people getting scammed, they just don't want to ask questions about what they're not acquainted with but it's good to know what we're doing. Cryptocurrency is for everyone, we make good use of this space.

I'm a typical example of this experience, as a newbie back then in the space and there was a particular project that stole about 17,000, naira from me and I almost included that crypto is scam if not for intervention of some fellows and my determination to make further research and know why I was scammed. Today I thank God I decided to learn and I know and can hit my chest to say that crypto is not scam. All they need is education and understanding of what is in the space and what is required to navigate it.