Ignorance and greed, that's the cause of it all, everyone be warned.

[Oshosondy]

I agree, most of the newbies get scammed because of being ignorant and greedy, there are so many newbies who enter the crypto industries and tried on investing and trading without any good knowledge, that's why they have lost money from it and will going to rant about it. There are also some newbies who get scammed because of trying to have easy money on which that easy money are a common scam.

You are right, but this thread is not only about newbies, it is also about people that are not newbies but because of greed invest in ICO and other new projects, that most of the projects have resulted to exit scam while some were later resulting to pump and dump. You are right that newbies are most vulnerable to scam, but not only them can be scammed, even people that are not new in the cryptocurrencies businesses and deals should be very careful of scammers.

[Shamm]

Lets not let greed get the best of us, ignorance isn't an excuse, get yourself informed, don't go buying overpriced projects just because you want to be among the first investors so you can dump on others. Not only the newbies are been fooled, we all are and it has to stop.

  Thanks for the advice on how to be wise and preventive ourselves to scam .This is important thing I will always put in my mind on your advice.

[akirasendo17]

I think sometimes the situation of the person, played a vital role to be scam although he already knew what is going to happen since, maybe his situation and emotion, are combining to be more impulsive, and correct greediness also one of the reasons someone gets scam, because of the reward or promise he forgets that it's just a way to lure, him and invests his earning to it.

[CryptopreneurBrainboss]

we have stories of investors with any knowledge or barely knowing anything about the cryptocurency industry becoming rich overnight just by investing in pre-sale of a project fueling this belief that they can replicate similar steps.

That's the problem. There are so many trending stories of the guy who made millions $$$ and not enough stories of the guy who lost money investing in a project. Crypto is so unpredictable, just because a newbie made some money buying shit coins doesn't make him an expert. Be careful of who you take financial advice from.

Actually don't take advice from anyone, any story can be made up. This is the internet/social media age where everyone wants to look successful without actually been successful. I'm not saying that story wasn't real but just go through twitter and you'll start seeing different stories popping up if similar success to that of those guys that made millions from dollars of investment.

That's just one example, there are different out there which is why many are getting pressure into patronizing this pump and dump projects getting launched daily.

It's one thing when you buy this tokens and another when you get them through airdrops or giveaway, that is okay because you're not actually risking anything provided the projects aren't malware inbuilt in their respective sites or wallets.

[sapnu]

Aside from worrying about newbies about making indecisive decisions due to ignorance, we should also pay attention to those who have been long in the game already but still makes careless decisions due to greed. As you enter a project or receive an offer, check out its validity and realness first before making an action. See if it is too much or too good to be true. We've been warned by it a lot of times already yet we keep on making the same mistake as we get attracted on receiving high profits through an easy process.

[QueenVera]

Aside from worrying about newbies about making indecisive decisions due to ignorance, we should also pay attention to those who have been long in the game already but still makes careless decisions due to greed.

Perfect, that's why I emphasize on everyone been a victim to the scams and not just the newbie. We have put mush focus on newbie that we fail to realize others are also been victimized by this scammers. The reason isn't different from that of the newbie though as it's usually greed that this scammers target, which is why they come up with the best juicy offers they have.

Users already existing in the industry should be aware of most of these scams tricks by now so they can't give the excuse of ignorance instead they're ashamed of their greed and hide behind them not knowing.

[BullRunw2023]

I think it all depend on the person. Being greedy could really go down a person but others are not. They tend to get more lucky than everyone else that instead of going down they tend to become successful. This is why I believe that failing down still depend on the individual. There are lucky individual out there.

[HashingTower]

It's why I don't invest in any yield finance projects, they are the most risky ones because they promised impossible returns every weeks or months which makes old staking projects stands out, PoS projects gives returns annually and that's within 5% to 15% range but those yield finance projects gives 5% every week or months

[Twinkledoe]

It's why I don't invest in any yield finance projects, they are the most risky ones because they promised impossible returns every weeks or months which makes old staking projects stands out, PoS projects gives returns annually and that's within 5% to 15% range but those yield finance projects gives 5% every week or months

Most yield finance projects will not survive long because they have no solid ground to begin with. They are just earning from the users that will put their funds in. They need to find other use case where they can generate income and not only relying from the farming feature. One should be very cautious when investing in these farming platforms because most of them will be abandoned by their team.

[GeorgeJohn]

The Hunger for getting Rich quickly interests us a whole lot make millions loss a whole lot of fortune, without proper analysis of what we want to venture into....we must have seen how a whole lot of people fall for scam scheme through cryptocurrency and bitcoin... hopefully we get to learn from the mistakes of others,try not too be self-centered making wrong decisions to quickly.
Ignorance has been a bridge to scamming a lot of people just ventures into whatever they like with having complete and full knowledge of Cryptocurrencies.

[WePiggy]

One could blame the crypto media for advertising these huge gains from unknown coins. When people read that others have gained 200% profit in 1 week from dodgydogecoin they will either invest in it themselves or try to seek out the next big thing - usually from a scammer waiting for prey

Newbies should always stick to the top 50, then venture lower as they learn more about altcoins, bitcoins, DeFi, and more importantly - how to spot a scam project. If the teams isn't doxxed, then stay away!

[Issa56]

Waw you are very right lot's of people have been scammed on a daily basis and they are stealing people funds which is very painful. I believe whenever you are looking for money I believe you should always check your offer well first and think about it how possible it is and there are also lot's of scammers in bitcoin so if you are looking for money you have to be very careful to avoid been scammed.

[Luke Jackson]

   To enter any industry, you need to pay a certain amount of tuition. Some people paid time, some paid money, and some even paid the price for happiness and health. I have bought more than 60 altcoins, but at present I only have Bitcoin and Ethereum.
I must do a good job in asset allocation, and the cost of toss is too high.

[ROSEDF]

Because I don’t understand cryptocurrency or the crypto market,
I was almost deceived once, but I can only say that the liar is really advanced now. He will package the project perfectly, and even the white paper will look perfect.
I have been following up on the project, and I very much believe that the project can make money,
But in fact the project is an empty one, he just wants to scam money and then runs away
So be vigilant no matter what.