uneng
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December 31, 2022, 10:02:47 PM |
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Every token offering more than 6% APY should be already taken with a grain of salt. Further research is needed on how they are making profit to offer that yield. If there aren't reasonable explanations, don't invest in the token, because it's likely they are simply creating hype through high interest rates to lure investors into the investment.
As interest is paid, investors start dropping the earned tokens on the market for profit. At some point, the supply exceeds the speculative demand, leading to severe crashes in price. As developers aren't fool, they liquidate all their holdings before the boat sinks for complete and then we see altcoins dying, with their prices reaching to zero.
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trendcoin
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December 31, 2022, 11:49:09 PM |
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All crypto money projects that do not have a decent income model but give high APY are scams. A project that pays more than 4-5% interest on dollar investments has to explain how it covers the difference between itself and real life. I don't think they'll be able to convince anyone other than the novice investors who have just entered the market. There are good examples in the past that will provide experience for new players in this market...
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Kemarit
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January 01, 2023, 12:44:14 PM |
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All crypto money projects that do not have a decent income model but give high APY are scams. A project that pays more than 4-5% interest on dollar investments has to explain how it covers the difference between itself and real life. I don't think they'll be able to convince anyone other than the novice investors who have just entered the market. There are good examples in the past that will provide experience for new players in this market...
Yeah, or at least those who are offering too good to be true returns might be a scam after all. And with the worst bear market, this criminals will always want to find a way to make money still out of those who are suffering because of the bear market. And it's really hard to read between the lines until it's too late. So that best thing to do is to just stir away from any offerings. Just invest on solid coins like BTC and ETH or at least those win the top 10 coins and simply hold instead of risking your money on some projects and with these so called high APY terms.
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Silberman
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January 03, 2023, 05:52:04 PM |
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All crypto money projects that do not have a decent income model but give high APY are scams. A project that pays more than 4-5% interest on dollar investments has to explain how it covers the difference between itself and real life. I don't think they'll be able to convince anyone other than the novice investors who have just entered the market. There are good examples in the past that will provide experience for new players in this market...
Yeah, or at least those who are offering too good to be true returns might be a scam after all. And with the worst bear market, this criminals will always want to find a way to make money still out of those who are suffering because of the bear market. And it's really hard to read between the lines until it's too late. So that best thing to do is to just stir away from any offerings. Just invest on solid coins like BTC and ETH or at least those win the top 10 coins and simply hold instead of risking your money on some projects and with these so called high APY terms. It is because of this that it is so important to avoid making any mistake, and this is because if you happen to lose a lot of money this could lead you to make another mistake in your effort to recover the money you have lost so far, so those that invested in altcoins and that now are seeing their holdings becoming worthless are desperate, and in their desperation they are willing to take any risk if that means they can recover their money, so while in regular circumstances they will never invest in those projects, in their desperation they do so, which is a terrible mistake as they will lose even more money this way.
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drac970815
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January 04, 2023, 05:05:32 AM |
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High Yield means more risks. So those who follow greed will be lost all their investments at some point. So exist when you have enough.
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Oasisman
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January 04, 2023, 05:59:59 AM |
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All crypto money projects that do not have a decent income model but give high APY are scams. A project that pays more than 4-5% interest on dollar investments has to explain how it covers the difference between itself and real life. I don't think they'll be able to convince anyone other than the novice investors who have just entered the market. There are good examples in the past that will provide experience for new players in this market...
Well, It's easier for us to determine whether or not a project is most likely a scam or eventually fail. High APYs might be one of the primary indicator that you're in a serious scam. However, some people ignores these facts because they got blinded by the high percentage returns. I know, some of them already knew the risk, but still choose to become a willing victim. So, I guess this will go on forever, and scammers will continue to offer this kind of strategy.
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adzino
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January 04, 2023, 06:36:10 AM |
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There are many projects asking investors to stake their tokens for APY but they collapsed later for example Midas, they offered 17% APY on USDC, the token went from 38$ to 0 and their swap feature is shut down..
I am just trying to warn you about Centralised Finance tokens and platforms, avoid taking big risks with CeFi Platforms.
APY can be tempting at times, powerful enough to make you turn your back on the vital parts of the project, do not compare APY of a CeFi project with others especially when the project is not that popular.
Now that we are even in a bear market, any projects offering high yield is a big red flag, this is not the time to focus on earning rewards.
Any coin that gives a insane APY is very likely some shitcoin that are trying to lure people. I don't understand how people still fall for those kind of shitcoins. Anyone will a little brain will realize that the gains they give will cause the supply explosion eventually causing the coin to die. Some even require people to lock their tokens which puts them into risk of never being able to sell or missing the opportunity to sell. Don't fall for those APY scam!
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Odusko
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January 04, 2023, 08:47:47 AM |
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The cryptocurrency market have been flooded with lots of scams lately and most of the projects are just disguise Ponzi scheme in the name of project, I don't believe in centralized projects and as a matter of fact I try as much as possible not to waste my time on altcoin that have left many investors in debt. High API a no guarantee if any shaking mechanism offers such as a 17% API return then it is too good to be true the return is understandable, be warned there are several scam projects all around.
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isaac_clarke22
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January 04, 2023, 11:58:24 AM |
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~
Yeah I can imagine a large clustercrap of scammers spreading around crypto to take advantage of people right now. Especially in this trying times, I expect a lot of projects trying to just steal money from investors and if this was 2017, I would imagine ICOs just popping around in this board randomly. This is why I stopped believing in ICOs back in 2018 after just one failed me. I just knew it would end in a wrong way and it will be a troublesome for me.
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TribalBob
Sr. Member
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January 04, 2023, 12:45:24 PM |
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From the start, we should have realized that we could see the oddity of the APY being given higher than the others. We could consider investing if we already know old crypto. The high APY they provide for new investors, I think.
during this bear period, it is very difficult for us to make profits, but it is better to avoid ponzi schemes
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d3nz
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January 04, 2023, 01:36:00 PM |
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There are many projects asking investors to stake their tokens for APY but they collapsed later for example Midas, they offered 17% APY on USDC, the token went from 38$ to 0 and their swap feature is shut down..
I am just trying to warn you about Centralised Finance tokens and platforms, avoid taking big risks with CeFi Platforms.
APY can be tempting at times, powerful enough to make you turn your back on the vital parts of the project, do not compare APY of a CeFi project with others especially when the project is not that popular.
Now that we are even in a bear market, any projects offering high yield is a big red flag, this is not the time to focus on earning rewards.
One thing that needs to avoid is this kind of scheme, HYIP is just baiting for people who want easy money and also they offer rewards or bonuses if you "Refer-a-friend" which is a BIG red flag. It would be much better to do staking on a known exchange than joining those schemes and it would be much worth it.
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TheUltraElite
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So anyway, I applied as a merit source :)
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January 04, 2023, 02:48:11 PM |
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Any project can shut down all of a sudden and high APY is the temptation that they have to put on the table so that investors try to grab their share of it. You cant propagate a scam if you are showing them that they will very minuscule returns. So this has happened from a long time before crypto and it still works to fool people easily and properly into giving away their assets in the hands of the scammer.
Today the money lost with some staking schemes - do you think it will ever come back to the hands of those who actually owned that money and had worked hard to earn it in the first place? No, the legal procedures will take years and by then the vicitim would probably be on their death bed.
So be patient and dont be foolish enough into jumping for every new staking/hyip/mlm or any other high-risk scheme.
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Jackl87
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January 04, 2023, 03:11:59 PM |
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There are many projects asking investors to stake their tokens for APY but they collapsed later for example Midas, they offered 17% APY on USDC, the token went from 38$ to 0 and their swap feature is shut down.. I am just trying to warn you about Centralised Finance tokens and platforms, avoid taking big risks with CeFi Platforms. APY can be tempting at times, powerful enough to make you turn your back on the vital parts of the project, do not compare APY of a CeFi project with others especially when the project is not that popular. Now that we are even in a bear market, any projects offering high yield is a big red flag, this is not the time to focus on earning rewards.
Sadly there were many such platforms that went down in the last few months. Midas is not the only one. If you have staked a lot of money on such platforms and they suddenly shut down then this basically means a total loss of your investment which could have severe consequences. Obviously you should only invest an amount of money into crypto (or invery financial product) that you can afford to lose. Also as you already said, if the APY that is offered or promised very high, then there must be something wrong. In order to be able to offer 17% on a stable coin there really needs to work out everything perfectly and as soon as the market goes down, those APY's can not be sustained anymore.
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justdimin
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January 05, 2023, 01:52:25 PM |
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I can imagine a large clustercrap of scammers spreading around crypto to take advantage of people right now. Especially in this trying times, I expect a lot of projects trying to just steal money from investors and if this was 2017, I would imagine ICOs just popping around in this board randomly. This is why I stopped believing in ICOs back in 2018 after just one failed me. I just knew it would end in a wrong way and it will be a troublesome for me.
It is obvious that economy is bad, and people who are not good at their jobs, or people who are not good for any job at all, will end up trying to work towards scamming people. Think about it, aside from being believable, it requires you to have zero skills, you don't have to have any type of talent at all and you could make millions from it if you are good at it as well. The worst thing to do right now is to believe people who tell you that you could make so much money from small cap stuff. Like "it is only 10 cents now, imagine if it goes to 100 dollars each!" type of talks are obvious ways to see something as scam or not, and anyone who says that will be promoting a scam.
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Silberman
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January 06, 2023, 06:52:05 PM |
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I can imagine a large clustercrap of scammers spreading around crypto to take advantage of people right now. Especially in this trying times, I expect a lot of projects trying to just steal money from investors and if this was 2017, I would imagine ICOs just popping around in this board randomly. This is why I stopped believing in ICOs back in 2018 after just one failed me. I just knew it would end in a wrong way and it will be a troublesome for me.
It is obvious that economy is bad, and people who are not good at their jobs, or people who are not good for any job at all, will end up trying to work towards scamming people. Think about it, aside from being believable, it requires you to have zero skills, you don't have to have any type of talent at all and you could make millions from it if you are good at it as well. The worst thing to do right now is to believe people who tell you that you could make so much money from small cap stuff. Like "it is only 10 cents now, imagine if it goes to 100 dollars each!" type of talks are obvious ways to see something as scam or not, and anyone who says that will be promoting a scam. It is very common that in times of crisis people in their desperation decide to commit crimes in order to sustain their families, so with the economic conditions not being optimal and people losing their jobs it is not surprising that some of them will decide to scam people online, and lamentably this market is the perfect place for people like them as it is easy to create a coin as it is demonstrated by the tens of thousands of coins we have and once they deceive you it is impossible for you to recover your money, with this in mind we need to be incredibly careful as to not fall victims of people like that.
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Valeriary
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January 11, 2023, 07:03:44 AM |
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The reason why there are so many similar projects is that they have tasted the sweetness of making profits in previous projects. The encryption market is a big cake, and everyone wants to get a piece of it. In the early or mid-term of the project, the project is safe. They don't present any major problems. When their funds reach a certain level. You must be careful at this time. Don't miss any news in the market, even if the news is wrong, watch out for yourself. "Scam" is not "scam" in the first place. Enough people fall for it to count as a scam.
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LogitechMouse
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February 10, 2023, 08:33:28 AM |
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Gemini, Celsius, NEXO. One of the remove the feature, one of them turn out to be a fraud and another one is going to be as well. I don't know if there are some more, but these are the companies who are offering huge APY's to the investors who choose to put their money into their platform while doing nothing.
APY's especially those who are giving a huge APY's to investors really is attractive. TBH, I was attracted to it as well, but fortunately I didn't ever try this one because I always think "Where are they getting those funds that they are paying to the investors?"
As much as possible, stay away from projects that are giving high yield to investors. Staking is much safer than these ones, but even those has risks as well. Staking those altcoins at the top give you lower APY than those on CeFi platforms, but it's safer than those.
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peter0425
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February 13, 2023, 02:13:01 AM |
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There are many projects asking investors to stake their tokens for APY but they collapsed later for example Midas, they offered 17% APY on USDC, the token went from 38$ to 0 and their swap feature is shut down..
I am just trying to warn you about Centralised Finance tokens and platforms, avoid taking big risks with CeFi Platforms.
APY can be tempting at times, powerful enough to make you turn your back on the vital parts of the project, do not compare APY of a CeFi project with others especially when the project is not that popular.
Now that we are even in a bear market, any projects offering high yield is a big red flag, this is not the time to focus on earning rewards.
One thing is indeed what needs people to understand here , that being greedy will always bring us losing one way or another so forget the high target of investing and just look into what project is good and will serve crypto users and the world more than our desire to be millionaire instantly . The cryptocurrency market have been flooded with lots of scams lately and most of the projects are just disguise Ponzi scheme in the name of project, I don't believe in centralized projects and as a matter of fact I try as much as possible not to waste my time on altcoin that have left many investors in debt. High API a no guarantee if any shaking mechanism offers such as a 17% API return then it is too good to be true the return is understandable, be warned there are several scam projects all around.
if you cannot distinguish scam project or at least have idea what are those and how they operate? then best to leave investing in altcoins and focus in bitcoin instead.
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