Don’t Get Rug Pulled

[Hewlet]

Wanted to give an example base on my experience but don’t want the post to be lengthy (some rug pulls, AnubisDAO (2021), and Defi100 (2021) there are more…) , Best way to win in this space is not by following hype, trends and stuff. Is playing it safe and knowing how to take the right risks, because some risks aren’t worth taking at all.

This message is not just for newbies but it is for every other investor that cares about the safety of the money he is putting into this space. those in the wing of ANTI bitcoin are strong in their hatred of bitcoin because of the mix of other project as bitcoin and verse visa encountering failures in  those project and then generalizing it to be same as investing in bitcoin.

If the current DIP that is happening to bitcoin happens to other asset believe me that most of them will not survive talk less of bouncing back and those are the risk that is associated with investing in other things that are not as long term worthy as bitcoin is.

[_act_]

Just check around new coins that are listed on Binance exchanges, they are dead with little to no liquidity, the bag holders are waiting for one big candle so they can sell and move on with their life. One bad thing about these projects is that they can remain their for long period of time while the coins will be dumping 99% upon another 99% until you have nothing to the wallet anymore. Have seen billions worth of market worth less than $30 million, that's shit crypto for you.

Binance is even still better, if you go to Mexc, you will see more coins that are listed. Many of the coins are just like what you posted. Later some will be delisted.

There was a coin I bought on Bybit two years ago, look at it:

Not even trading anymore after more than 1000x fall at the time.



It was a loss of money for me.

Altcoins are just like scam. New projects are existing for the developers to scam people. There are even bad projects that did not make it to major exchanges.

[The Cryptovator]

If you’re new to crypto the safest move is not buying unknown tokens at all . I know many will still buy but reduce it and focus more on solid project like Bitcoin (that’s safe and with a risk that’s easy to manage), many will still belike but the value is high already! Yes it is but doesn’t stop it from growing even further.

It's been a long time since I have not been investing in any newborn tokens. Because I have learnt a lesson, though it was a costly lesson for me. I had invested heavily in a newborn token that I had been marketing for them. I thought it was safe for me since I am also a marketer of that token. But the fucking team sold all of their tokens, which means rug pulled and the token went almost to zero. After that I have decided to stop investing in any newborn tokens forever. I will only invest in top coins that are not going to rug pull, at least. Because top existing coins aren't likely to rug pull.

Newly launched projects never care about their investors; they just need to pull money from the market. As a result, rug pulls are happening around the crypto market. We just need to avoid our greediness; almost all newborn tokens are just scams, especially on decentralised launchpads. There is no control; anyone could launch a crypto project and pull money from the market in various ways.

[ndutndut]

Wanted to give an example base on my experience but don’t want the post to be lengthy (some rug pulls, AnubisDAO (2021), and Defi100 (2021) there are more…) , Best way to win in this space is not by following hype, trends and stuff. Is playing it safe and knowing how to take the right risks, because some risks aren’t worth taking at all.

This message is not just for newbies but it is for every other investor that cares about the safety of the money he is putting into this space. those in the wing of ANTI bitcoin are strong in their hatred of bitcoin because of the mix of other project as bitcoin and verse visa encountering failures in  those project and then generalizing it to be same as investing in bitcoin.

If the current DIP that is happening to bitcoin happens to other asset believe me that most of them will not survive talk less of bouncing back and those are the risk that is associated with investing in other things that are not as long term worthy as bitcoin is.

But I don't think those who choose altcoins are against Bitcoin, but rather greedy. They believe they can get rich quick with altcoins, especially since many new projects have seen significant growth only to die. This often happens repeatedly. They also know that altcoins are unsustainable, but they still choose them because they are inherently greedy.

Many beginners even make a major mistake resulting in a loss of 80% or even 100% of their portfolio. They feel like deleting the app, throwing away their phone, and never hearing the word crypto again. But they remain oblivious even though they have gone through several cycles, they should have learned one important thing in the crypto world Price is a disturbance and fundamentals are a foundation. Yes, Bitcoin is an asset with fundamentals even if it drops, it will still recover. This is very different from altcoins especially new coins.

[dansus021]

This is clasic problem same as fake phising website that I just replied before this, but the different is dont fall for x1000 return if you dont know the token Im not an expert or newbie but somehow I know a token that super duper looks so good sometimes I just fell for it. But the truth is that just merely scam to get people buy and the dev can take the hard cash you have earned so far.

Dont get Rug pulled Altcoin is didnt a good job in the last cycle to many token/coin today so x1000 return is super super rare. Memecoin itself is dying in my opinion.

[Hazink]

One of the ways we can get free of ourself from the issues of rugpull is not to invest on shitcoins, because we are not going to have rest of mind investing on what could be giving us serious concern about what tomorrow might be, if we don't take the risk, we don't have to worry on anything, that is why we will always advise that we should invest in bitcoin before any other thing in cryptocurrency.

But there are a lot of these sheets which are still active on the market which those who are interested in altcoins can still pick from. Where someone needs to be very careful and avoid investing their money in is all these newly created and released altcoins which have just got listed. Those are like traps for new investors, and they should be avoided. Those who come in low most of the time are the victims that provide liquidity for the scammers to pull out with.

[Floxynice]

I did my personal research and found out that most people/newbies were first introduced to crypto through scam tokens and shitcoins. Most of them lost a huge amount of money while trusting tokens that were only enjoying the hype of the moment. My man is a very good example of one of those people who first knew scam tokens before knowing bitcoin exists. Yea, he lost money but never gave up. His research after the loss made him find bitcoin.

Newbies are usually very vulnerable that is why scammers often target them. Alot of newbies will fall victim and it is not always about greed. Reason I will always advice that they invest with what they can afford to lose. That should be the cost they'll pay to get the real knowledge.