Most altcoins are fake (wakanda)

[Godlovesyou]

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September, many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

Please what is the aimed of those people doing fake crypto currency?

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[bayudndy]

(...)Please what is the aimed of those people doing fake crypto currency?

I don't know the project you mentioned, but the way you shared it reminds me of shitcoins in this market, simply creating according to popular information on social networks, it hits the mark. into the reality of users who lack knowledge as well as material greed. I think there is no need to blame, when the fault belongs to both the people who create the product as well as the people who use it. So in this crypto environment there are many different pitfalls and opportunities, and people need to experience them to know how to distinguish them.

[Doan9269]

Truly some of them are fake and one needs to open his eyes wide enough in knowing the ones that worth investing on and the ones not to invest on, we need to conduct a thorough research very well, we have to know that altcoi intentions were not to scam investors but people uses such avenue to launch their evil attacks on people's asset invested on altcoins, that's why we must be well assured that the developers are trusted well enough with our investment through the research conducted.

[avikz]

Majority of the altcoins are fake for sure. So you shouldn't have invested into any new cryptos. All these cryptos usually make the creators rich and not the users. In my honest opinion, stick to only Bitcoin and ETH. These are the two cryptos which are widely adopted by the people and have great community support. Rest all have issues and may take a downturn anytime under any circumstances.

These cryptos are usually aimed to make the creators rich within a short period of time and nothing else. They serve no purpose to the crypto market or to the community at all.

[Yogee]

Anything else that you could share why you think this wakanda is fake? I understand your frustration but even legitimate altcoins suffer the same price drops so that shouldn't be enough to call them as fake. BTC also fell more than 80% few years ago. If the devs are no longer reachable or responding to questions then it's safe to say the project has been abandoned.

[bettercrypto]

Maybe I can say that most altcoins are really high risk, that's why there are many times when you see that it reminds you to always do it at your own risk and do your own research as well.

        And I think this is the thing that you didn't do right, so maybe it led to that situation or maybe it got carried away by the hype. And I also think that you were too hasty with the rug pull, imagine that the price used to be around 300$ when you bought it but now the price is only 10$ if I'm not mistaken based on what you said, this should be a lesson to you.

[vv181]

Please what is the aimed of those people doing fake crypto currency?

The barrier to entry for creating altcoins or tokens is low enough. That leads people easily create it to scam people.

Their motive is simply outright to deceive people for their own benefit, for example, either outright stealing or slowly scamming their users. Altcoins and tokens markets are almost 99,9% worthless. There is no practical benefit and usage, but an empty promise or an exaggeration of an idea. It is like separating the wheat from the chaff. And those scammers are simply doing their job because of how easy to make them and due to the nature of cryptocurrency pseudonymity.

[Apocollapse]

They aimed to scam people like you who are looking to make an instant profit, how it's possible they scam but they will not get any benefit? it's just a wasting time for them.

That's why you need to make sure you're invest in a project which have a real usage and transparent, not only looking about the token is created in your country, I think when a token created to focus on a country, it's always scam because they know third world countries are full on uneducated people.

[asyakashi]

Please what is the aimed of those people doing fake crypto currency?

I'm sure they want to earn fast money. but i am confused. It seems that African projects are indeed very difficult to be sustainable in market trends. Until now I'm confused about how they developed their project because what I know is that there has never been a project from Africa that has been successful and has lasted until now. it's a good idea to do more research on it so as not to be disappointed with the Wakanda project.

[Mpamaegbu]

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September

To start with, Wakanda isn't the first Africa project. There was Dalecoin even before I embraced crypto in 2017. There was also Zugacoin created by Sam Zuga, an African, in 2019 or 2020.

many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

I saw through the smokescreen when the hype for it hit the media but I avoided it as my sixth sense told me something wasn't right. My guts were right. It was the same way I avoided the shitcoin, Zugacoin. It's not as if it's an African thing to have bad projects. It transverses all continents. There are scammers everywhere. BTW, don't sell off what is left. You never can tell if there are going to be novice investors who are definitely going to buy it during the forthcoming bull run in 2024/25

Please what is the aimed of those people doing fake crypto currency?

I believe this is a rhetorical question.

[QueenVera]

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September, many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

Please what is the aimed of those people doing fake crypto currency?

There aim is to steal people's Bitcoin so they can have more Bitcoin to profit from when the bull market comes. Most altcoins are created because the founders know people are looking for the next tending project to invest into. Wakanda Inu had a good version but the founder had other plans.
Enough money wasn't used to market wakanda inu like other memecoins that millions were been used for the marketing of the project. Coins like Shiba Inu used millions for their marketing and that's why they're very popular today. Wakanda inu founders made alot of money but didn't care about the community.
They abandoned the project and that's what made many investors lose money for investing into the project. If wakanda inu wants to survive they need rebranding and have to disassociate themselves from the Inu trends or they'll be seen as another scam project looking to profits from the name.

[Ojima-ojo]

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September, many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

Please what is the aimed of those people doing fake crypto currency?

First most of the alternarice coins that came on board from after the 2017 altcoin boom were 90% fake projects developed by scammers who found cryptocurrencies development as the new thing on board that could be used to steal people's money, most of them don't have any other motive than to lure potential victims into buy into they fake idea.

That is why i never took them seriously because I have heard what most of the shitcoins did to their investors, where they lost almost everything from investing into that scam, I heard in the news that a Bishop also created one coin that end up scamming it investors where they were not able to withdraw their investment.

[Coyster]

Please what is the aimed of those people doing fake crypto currency?

To take money away from you and others who have invested, and then use that money to enrich themselves. BTW you're absolutely spot on: most altcoins are indeed fake and scams, the owners basically create them only to make money for themselves, they have zero use cases, most times plagiaraized whitepaper, impostor team of developers, etc. If you don't want to be scammed with fake/scam coins, then only invest in Bitcoin and forget about altcoins, there are so many of them, so to find a productive one is as good a task as looking for a needle in a haystack.

[blockman]

Please what is the aimed of those people doing fake crypto currency?

Very obvious, to make the devs of it rich and that's through all of your money including other investors. Do not invest in projects that are obviously not going to do good with your money. They're only there to make everyone entice that they're working for something but it all comes out that all of those are just part of their marketing. And sadly, many of you guys have fallen to their marketing which have been effective on their side.

[Johnyz]

Please what is the aimed of those people doing fake crypto currency?

Very obvious, to make the devs of it rich and that's through all of your money including other investors. Do not invest in projects that are obviously not going to do good with your money. They're only there to make everyone entice that they're working for something but it all comes out that all of those are just part of their marketing. And sadly, many of you guys have fallen to their marketing which have been effective on their side.

They are scamming people and since they already have knowledge on how to do this, you can expect that they will come back here with the same fake project to scam the investors again. We can only stop this if there’s already regulations where developers have to register themselves and make then liable if the projects turns out to be a scam. Stay away from a shitty projects who are just using the hype in the market, some projects are too obvious with their weird names.

[o48o]

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Please what is the aimed of those people doing fake crypto currency?
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Are you asking what their aim is? Profit. Short and simple. Not everyone has morals or they have such backgrounds and live in places where they don't afford to have morals.

When you are investing into something new, always assume that at some point they are most likely going to do an exit scam. You'll be safer that way.
Good projects will have real doxxed devs with a proven history of building stuff. If you are investing into anon dev tokens, changes are that you are only going to get scammed. It has been so since from the start.

[Quidat]

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September, many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

Please what is the aimed of those people doing fake crypto currency?

Dealing up with crypto does have lots of accompanied risks.This is why it would really be just that right that you should be mindful
and somewhat realistic of your investment aims and goals and be wise if ever you do see some red flags. You should bare up on your mind;

1. Scammers would really be creating something that goes in line with the hype
2. Dont believe that Devs/Owners are really that mindful about their investors
3. As long its anonymous or even being doxxed, doesnt assure that they wouldnt run off with the money
4. 95% coins in the market are shit and 5% of them are really having that usecase

Always DYOR, dont make yourself that get impulsive when it comes to investment decisions and dont make yourself get easily
fomo'ed out because this is where mistakes do usually happens.

[makishart]

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September, many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

You can learn a very important lesson to never try to buy the shit scam token as long term investment. My question for you is why did you buy that while you have bunch of trusted tokens in the market?
Im sorry but it's also your mistake to easily believe with the scam token. The scammers are always repeating the same method over and over again. They were making shit scam token which consumes only a few dollars and then they will attract people to buy their tokens.

The scammers have premined coin that would be used to dump in your ass. That's an old trick but i don't know why people kept fallen into the same hole.

Please what is the aimed of those people doing fake crypto currency?

To run away with people's money. These scammers were only able fooling others to get money. You must be careful when investing in everything.

[blockman]

Please what is the aimed of those people doing fake crypto currency?

Very obvious, to make the devs of it rich and that's through all of your money including other investors. Do not invest in projects that are obviously not going to do good with your money. They're only there to make everyone entice that they're working for something but it all comes out that all of those are just part of their marketing. And sadly, many of you guys have fallen to their marketing which have been effective on their side.

They are scamming people and since they already have knowledge on how to do this, you can expect that they will come back here with the same fake project to scam the investors again. We can only stop this if there’s already regulations where developers have to register themselves and make then liable if the projects turns out to be a scam. Stay away from a shitty projects who are just using the hype in the market, some projects are too obvious with their weird names.

Right, they'll come back again and will target those victims of them once again. Those victims will never learn from their mistake and will keep on investing in random shit projects that they see that promises great gains and money. Learn from your experiences and don't invest in any random projects once again or else you know the consequences of what you're taking. Give some great value to your conscience and the money that you're investing in because you've worked hard for it. I think once is enough when you've been already a victim of these scam projects and never will be followed by another one. Don't get fooled again by these scammers because they'll repeat it until they hold accountable goes behind the bars.

[justdimin]

There aim is to steal people's Bitcoin so they can have more Bitcoin to profit from when the bull market comes. Most altcoins are created because the founders know people are looking for the next tending project to invest into. Wakanda Inu had a good version but the founder had other plans.
Enough money wasn't used to market wakanda inu like other memecoins that millions were been used for the marketing of the project. Coins like Shiba Inu used millions for their marketing and that's why they're very popular today. Wakanda inu founders made alot of money but didn't care about the community.
They abandoned the project and that's what made many investors lose money for investing into the project. If wakanda inu wants to survive they need rebranding and have to disassociate themselves from the Inu trends or they'll be seen as another scam project looking to profits from the name.

Unfortunately this is the truth and we have to learn to live with it. I know that developers are trying to make money from people and we are just getting the short end of it. A lot of people funded a lot of projects and got nothing in return and we have to realize that it is not going to be a good thing to handle this.

We are going to end up with a lot more and people will not learn from their mistakes and they will keep on funding new projects with the hopes that the new one will be better and not scam them but almost all of them will. These are all fake stuff that will make only the developer richer and nobody else, which is why I believe that we can't really do anything that will help anyone at all.