Crypto Is a Scam

[MusaPk]

One of the first advice I give to newbies is to ensure that the engage on personal research about anything they are coming across on the internet, not all the news feeds should be admitted as it is, there is a need to cross check as well as confirming from other sources to get more reliable information and ascertain our fact, there are many misconceptions online and everyone is trying to gain attention by his posts.

Doing your own research is very important and we must verify critical information from other sources also specially if its going to have an impact on financial decisions. Internet is flooded with information and there is no guarantee that information you reading is correct or not unless you do the hard work of verifying it. Even on this forum, I follow information shared by old members as authentic and rest I verify from other sources. It's not very hard to verify the information these days, its just a few minutes work.       

[Rockstarguy]

One of the first advice I give to newbies is to ensure that the engage on personal research about anything they are coming across on the internet, not all the news feeds should be admitted as it is, there is a need to cross check as well as confirming from other sources to get more reliable information and ascertain our fact, there are many misconceptions online and everyone is trying to gain attention by his posts.

Newbies are always the target of scammers because they accept everything that is brought to them. Most beginners don't even understand how important understanding can be and how it can prevent one from being a victim of a scam.

The best way not to be scammed by scammers is to research everything, especially things that there is no clear understanding of what it is all about. Don't allow strangers to teach you what you are supposed to know by yourself because this is a mistake that can lead one to fall victim to a scam. People fall victim to scams because they fail to verify or gain understanding of what they don't understand.

[Fiasem20]

One of the first advice I give to newbies is to ensure that the engage on personal research about anything they are coming across on the internet, not all the news feeds should be admitted as it is, there is a need to cross check as well as confirming from other sources to get more reliable information and ascertain our fact, there are many misconceptions online and everyone is trying to gain attention by his posts.

Newbies are always the target of scammers because they accept everything that is brought to them. Most beginners don't even understand how important understanding can be and how it can prevent one from being a victim of a scam.

The best way not to be scammed by scammers is to research everything, especially things that there is no clear understanding of what it is all about. Don't allow strangers to teach you what you are supposed to know by yourself because this is a mistake that can lead one to fall victim to a scam. People fall victim to scams because they fail to verify or gain understanding of what they don't understand.

How are you suppose to know things yourself probably when you just got newly into the space?the only way forward is to make research on what you are curious about and not to take heed to only one information rather make research from different sources reason is because most information are misleading so in other to be grounded don’t rely only on one source of information as a newbie.Then again belong to a community that shares same interests with you,for instance newbies here are at advantage of asking questions and seeking clarity on areas they aren’t familiar or find confusing.Lastly,don’t always be in a haste to comply to what random people say on the internet about bitcoin and always assume most things in this space are too good to be true.

[puloweh555]

Newbies are always the target of scammers because they accept everything that is brought to them. Most beginners don't even understand how important understanding can be and how it can prevent one from being a victim of a scam.

The best way not to be scammed by scammers is to research everything, especially things that there is no clear understanding of what it is all about. Don't allow strangers to teach you what you are supposed to know by yourself because this is a mistake that can lead one to fall victim to a scam. People fall victim to scams because they fail to verify or gain understanding of what they don't understand.

How are you suppose to know things yourself probably when you just got newly into the space?the only way forward is to make research on what you are curious about and not to take heed to only one information rather make research from different sources reason is because most information are misleading so in other to be grounded don’t rely only on one source of information as a newbie.Then again belong to a community that shares same interests with you,for instance newbies here are at advantage of asking questions and seeking clarity on areas they aren’t familiar or find confusing.Lastly,don’t always be in a haste to comply to what random people say on the internet about bitcoin and always assume most things in this space are too good to be true.

Of course, to get started with crypto you need as much information as possible. Don't rely on a single piece of information the more information, the better. The information you obtain must be from truly credible sources. While there's a wealth of information available online, we can also sometimes fall victim to crypto scams, so always be diligent in seeking information to maximize your research.

Information and knowledge are key factors in achieving success, avoiding losses and even distinguishing between scams and real ones. Many people consider crypto a scam primarily because they haven't sought accurate information and don't understand the difference between Bitcoin and altcoins. Many altcoins are scams, but if they can't differentiate between them they'll assume Bitcoin is the same as altcoins. However, if they truly study them Bitcoin and altcoins are clearly different.

[Stable090]

One of the first advice I give to newbies is to ensure that the engage on personal research about anything they are coming across on the internet, not all the news feeds should be admitted as it is, there is a need to cross check as well as confirming from other sources to get more reliable information and ascertain our fact, there are many misconceptions online and everyone is trying to gain attention by his posts.

That’s the mistake lots of newbies do make, they don’t always take their time to verify some informations which they see on social media, and thats the reason why some of them do end up getting scammed. When you see some informations, make sure it’s verify from different sources before you going to believe it. Just because someone close to you share some informations with you doesn’t mean you should believe it immediately, still take your time to verify. If you want to believe everything you seeing on the internet now, you just going to be mislead.

[Luzin]

Just because someone close to you share some informations with you doesn’t mean you should believe it immediately, still take your time to verify. If you want to believe everything you seeing on the internet now, you just going to be mislead.

Only a fool wouldn't verify before taking action. There are so many bad people trying to exploit Bitcoin's popularity to make a profit. So everyone has to be careful not just with crypto but with anything that could cause harm to themselves. Be a critical, thorough, and wise reader when filtering information. When it comes to crypto, we're lucky to be in this forum. There's always a verification process from other users, and it's really helpful.

[Rubuchi]

Doing your own research is very important and we must verify critical information from other sources also specially if its going to have an impact on financial decisions. Internet is flooded with information and there is no guarantee that information you reading is correct or not unless you do the hard work of verifying it. Even on this forum, I follow information shared by old members as authentic and rest I verify from other sources. It's not very hard to verify the information these days, its just a few minutes work.       

it's important to always do your own research in life before you make a decision because any decisions you make without being informed about it, I also follow the same pattern of sourcing for information from archives of old records. There was a day I went back to as far as the first post Satoshi made on the platform and followed up a few of the conversations made here Brite he left and I've done it countless times ever since. It gives you credibility in the information you are searching unless and until otherwise maybe if the information is vague.

[ndutndut]

Just because someone close to you share some informations with you doesn’t mean you should believe it immediately, still take your time to verify. If you want to believe everything you seeing on the internet now, you just going to be mislead.

Only a fool wouldn't verify before taking action. There are so many bad people trying to exploit Bitcoin's popularity to make a profit. So everyone has to be careful not just with crypto but with anything that could cause harm to themselves. Be a critical, thorough, and wise reader when filtering information. When it comes to crypto, we're lucky to be in this forum. There's always a verification process from other users, and it's really helpful.

The world of crypto is indeed full of risks, but with vigilance and continuous learning, the opportunities far outweigh the risks for disciplined individuals. This is the point.

So, to avoid being easily deceived or mistakenly believing all crypto to be a scam, we need to verify before acting. Crypto itself, especially Bitcoin, is not a scam. However, the crypto world can be said to be a very fertile ground for fraudsters. Because crypto is volatile, the potential for large profits seems tempting. Those who don't understand this will certainly be tempted, especially when reinforced by strong marketing, coupled with greed, people are easily lured.

To avoid this, we must be more critical in the crypto world and never rush to receive information. We need to verify it, including the source and the underlying motive. Yes. We are very lucky to be in this forum because here we can easily get information even though there is information or fraud in this forum it will not be accepted because the forum has firm action against those who spread false information, especially about fraud.

[vv99]

Every beginner should read this carefully. If you do not understand the difference between Bitcoin and crypto, there is a high chance you will lose money.Crypto is mostly a scam.

Crypto founders take advantage of beginners who do not fully understand what Bitcoin really is or how it works. They use that lack of knowledge to create their own shitcoins and promote them as “better Bitcoin,” “faster Bitcoin,” “more private Bitcoin,“Bitcoin that transfers fiat coins”” or “Bitcoin with smart contracts.”

The scam is usually very simple. Crypto founders create a new token, keep a huge part of the supply for themselves, their company, or their foundation, and then sell the story to beginners who do not yet understand what Bitcoin really is or why it matters.

Some of the biggest scams in crypto . XRP created the full 100 billion XRP supply from the beginning, with 80 billion XRP given to the company behind it. Ethereum also started with a large premine, where roughly 72 million ETH was distributed at genesis, including more than 60 million ETH sold through the ICO and around 12 million ETH allocated to the foundation and early contributors.

Bitcoin is not crypto. Crypto is an industry built around tokens, founders, marketing, and insider allocations. Bitcoin is a decentralized form of money with fixed supply, proof-of-work, and no central authority. Calling Bitcoin “crypto” only helps shitcoin promoters confuse beginners and make their projects look more legitimate than they really are.

I agree with most of what you said. I also think Bitcoin is in a category of its own, and if someone is completely new, they should probably understand Bitcoin first before looking at anything else.

One thing I like about Bitcoin is how it started. There wasn't an ICO or a foundation sitting on a huge allocation from day one. I think that's one of the reasons so many people trust it more than newer projects.

The only part I'd push back on is saying every altcoin is a scam. There are definitely a lot of projects that were made just to make their founders rich, no argument there. But I don't think it's fair to throw every project into the same box.

Monero is mostly about privacy. Ethereum was trying to do something different with smart contracts. Chainlink is another example. Whether you think they succeeded or not is up for debate, but I don't see them the same way as some random token that appears overnight with a fancy website and a promise to be "the next Bitcoin".

I do agree though that beginners get confused because everything gets called "crypto". That makes it easy for people to lump Bitcoin together with thousands of completely different projects, and I don't think that's helpful.

[Zoomic]

Doing your own research is very important and we must verify critical information from other sources also specially if its going to have an impact on financial decisions. Internet is flooded with information and there is no guarantee that information you reading is correct or not unless you do the hard work of verifying it. Even on this forum, I follow information shared by old members as authentic and rest I verify from other sources. It's not very hard to verify the information these days, its just a few minutes work.       

it's important to always do your own research in life before you make a decision because any decisions you make without being informed about it, I also follow the same pattern of sourcing for information from archives of old records. There was a day I went back to as far as the first post Satoshi made on the platform and followed up a few of the conversations made here Brite he left and I've done it countless times ever since. It gives you credibility in the information you are searching unless and until otherwise maybe if the information is vague.

The idea of one doing their own research should never be neglected, especially when it concerns making financial decisions. I was a victim of not doing my own research because I trusted so much who was acting as a mentor to me then. Infact, I didn't know the real definition of a mentor then. Someone that introduced me to a space because of the benefits they get from me is not my mentor. All the advices I received from him were the ones that will rip my money on a fast not.

A mentor is the one who although might have learnt in a hard way, but teaches his subordinates to land easily. He didn't do it for me, but I ignorantly followed his lusty tongue and blew all my money without doing my own research.

[ImGenius]

Doing your own research is very important and we must verify critical information from other sources also specially if its going to have an impact on financial decisions. Internet is flooded with information and there is no guarantee that information you reading is correct or not unless you do the hard work of verifying it. Even on this forum, I follow information shared by old members as authentic and rest I verify from other sources. It's not very hard to verify the information these days, its just a few minutes work.       

I think newbie don't need to research for new coins when they can easily invest in bitcoin or ETH? Is it because bitcoin or Eth don't give much profit or something else? Maximum alt never has the power to rise again so we should completely avoid them. I feel like gambling when i trade in atlcoin...

But one thing is useful about altcoin is they have low fees. So for quick transaction we can use alt not for holding though.

[JordanMeyer]

I am beginner and have heard many times from my friend that it was scam, but fortunately i didn't listen them and began searching for everything. Thats why i am here now i thin in the best community in this industry and still studying many things

[Aanuoluwatofunmi]

Even cryptocurrency entirely is not a scam, because bitcoin falls under crypto and anything aside bitcoin are altcoins, therefore the fat has been established that bitcoin is reliable for our investment and consideration as the most recognized digital currency in crypto, now if we are talking about altcoins, then we have them in numbers that are unending, just ensure to make your own research before investing on anyone so that you don't end up being scammed with altcoins.

[liasbaa]

I am beginner and have heard many times from my friend that it was scam, but fortunately i didn't listen them and began searching for everything. Thats why i am here now i thin in the best community in this industry and still studying many things

Not all crypto is scam. Your friends may have been scammed by shitcoins that promised high profits in a short period of time. Some call them scams because they are digital currencies. Not all digital coins are scams. Bitcoin is also a cryptocurrency but it is a reliable and best digital asset and store of value.
Spend time in knowledge seeking You will realize for yourself that Bitcoin is the best digital asset. Gain knowledge and accumulate Bitcoin because build up a sufficient holding before its value increases further.

[Gost ms]

One of the first advice I give to newbies is to ensure that the engage on personal research about anything they are coming across on the internet, not all the news feeds should be admitted as it is, there is a need to cross check as well as confirming from other sources to get more reliable information and ascertain our fact, there are many misconceptions online and everyone is trying to gain attention by his posts.

Doing your own research is very important and we must verify critical information from other sources also specially if its going to have an impact on financial decisions. Internet is flooded with information and there is no guarantee that information you reading is correct or not unless you do the hard work of verifying it. Even on this forum, I follow information shared by old members as authentic and rest I verify from other sources. It's not very hard to verify the information these days, its just a few minutes work.       

Yes, you are right. It is never a good idea to blindly follow someone's advice. We should gather all the information and move towards what is best for us and our financial situation. Many times, it is seen that many people give us wrong information and many times we are harmed by this wrong information.

It is especially dangerous to follow the knowledge of those people or the path shown by them who have half knowledge. A half-wise person causes more harm to everyone than an ignorant person. Therefore, we should examine what is right and what is wrong and move forward. We should examine each issue carefully and move forward.

[Moreno233]

Even though I don't like seeing Bitcin regarded as cryto because many people have been scammed using crypto and outting Bitcoin there makes it look like Bitcoin ie just one of them which is very wrong. The name of Bitcoin is big enough to be used alone and a single coin that needs nothing to validate it.

[GeorgeJohn]

Even cryptocurrency entirely is not a scam, because bitcoin falls under crypto and anything aside bitcoin are altcoins, therefore the fat has been established that bitcoin is reliable for our investment and consideration as the most recognized digital currency in crypto, now if we are talking about altcoins, then we have them in numbers that are unending, just ensure to make your own research before investing on anyone so that you don't end up being scammed with altcoins.

Some people think that investing in ponzi scheme with cryptocurrency is all about cryptocurrencies...majority of people who says that cryptocurrency is a scam, it's people who has lost out in different kinds of ponzi scheme using cryptocurrency...so many people will tell you that they invested in cryptocurrency and they lost everything...if you invest in a reputable cryptocurrency by hodling your coins without second and third party..it's when some of them will know that cryptocurrency is not a scam....but some of them that invested in ponzi they're the one that keeps tagging cryptocurrency as a scam...

[Chibit01]

I am beginner and have heard many times from my friend that it was scam, but fortunately i didn't listen them and began searching for everything. Thats why i am here now i thin in the best community in this industry and still studying many things

Those who just make conclusions based on what they were told about something are really not interested and ready for that thing. If you did not do a little research for yourself, you could have joined those who regard bitcoin as a ponzi and a scam and be spreading those false information without even knowing how come about those false rumours and deny yourself of what you could have actually cherished.

[moneystery]

I am beginner and have heard many times from my friend that it was scam, but fortunately i didn't listen them and began searching for everything. Thats why i am here now i thin in the best community in this industry and still studying many things

It's a good thing you understand this. Because there are so many cryptocurrencies in circulation today, and only Bitcoin is trustworthy, while others carry a higher risk of experiencing sharp price drops or even scams.
So, if you're a beginner, it's best to only invest your money in Bitcoin, which is more reputable. For other cryptocurrencies, it's best to research and understand them thoroughly before deciding to get involved, as they could be scams.

[Out of mind]

Bitcoin is not crypto. Crypto is an industry built around tokens, founders, marketing, and insider allocations. Bitcoin is a decentralized form of money with fixed supply, proof-of-work, and no central authority. Calling Bitcoin “crypto” only helps shitcoin promoters confuse beginners and make their projects look more legitimate than they really are.

Bitcoin is a digital asset that cannot be compared to crypto, its limited supply is completely different from crypto tokens or shitcoins. From this perspective, lumping Bitcoin into the same category as just crypto can be confusing for new investors, and can create a confusing situation where many weak or centralized projects have the same level of legitimacy as Bitcoin for newbies who don't know. But we know that most crypto tokens are created by founders, and have controllers who can control the coins if they want. But Bitcoin's limited supply is completely decentralized, so no one can control it even if they want to. That's why new investors need to understand these things well and then understand the difference between shitcoin and Bitcoin before investing.