I would like to warn you about the dangers that exists for new members, that want to invest in any Altcoins, Ico's or Mining service.
I am active on this forum for a long time since 2013-2014, but unfortunatly I lost my old Bitcointalk Forum account in de 2015 hacks.
And since a few weeks ago I got back in to this forum and the whole Cryptoworld, thanks to my Brother and a friend who suddenly had interest for Bitcoin and All the Altcoins/Tokens.
They came to me for some advice and I told them what I found important, when you look at a ICO or Coin to invest in.
And I told them 1 of the most important things is that you have to do really good research before you invest your money.
Well They listened and did some research still not good enough but they still found some good Coins and ICO's.
But then A month later suddenly 2 other friends also wanted to invest and asked if Bitconnect was Trustworthy, But they already invested 200€ and 2000€ without doing any research!
And with a simple google search I found out that Bitconnect was something I would never invest my money in, and I told them but they where convinced that it was legit.
Also because it was running for 2 years already and they had more friends investing in it.
And A week Later Bitconnect closes the lending platform and they lost all their money, and that is such a shame because there are so many better options out there.
I think that there are many people who recently came in to the cryptoworld, for some quick cash and probably have a full time job, and dont have much time left to do extensive research.
And that is 1 thing you need to do because of the many different ICO's Coins, Tokens and Mining Services.
Also a good example of website's that want to scam you (most of the time) are the many online mining websites, they will let you deposit money and in a few month's they are offline again.
I remember me 2 years ago trying out some mining sites, and I saved them in my favorites and they are all offline now, except for a few.
What I also noticed is that compared to 2 years ago a lot of the ICO's that are being advertised are Tokens and you need to really understand the difference between a Token and A coin.
Especially since a token is build upon a existing Coin Like Ethereum, Neo, Omni.
So Never ever put your money in Coins/Websites that will promise you a insane amount of Interest like 3-5% a day.
Before you invest do Research, If you don't understand what your investment does Dont invest, Do more research First!
- Watch Youtube Video's
- Read the Whitepaper
Very Important
- Do research in to the Team behind it
- Would you Trust those people with your money? for me the team is so Important
- Ask questions and have a discussion on this forum about it
And if you see a Coin or Token with a good idea Check out
http://periodictableofcrypto.com/ if there isn't a coin with the same idea and maybe a better one as well.
I just hope I can help some investors/people that are new to all this and will try to update this topic as well with new information!
If someone has something to add to the post dont hesitate to send me a message and I can update the main post!
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