Crypto Is a Scam

[Olatundespo]

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.

When someone uses the word crypto, it actually sounds like a mix of scams, hype projects, altcoins, shitcoins, tokens. But Bitcoin is completely different. By assets, we mean all those things that can store value in the long term. Usually, the altcoins, shitcoins that are in crypto cannot actually be called assets. Because they suddenly come to the market and then disappear after a few days. They are not suitable for the long term. But Bitcoin is completely different. It can strengthen your savings a lot in the long term. However, even if Bitcoin cannot be guaranteed, it can be called a potential asset for the future.

Although the term crypto refers to all types of currencies, Bitcoin is a unique digital asset and also store of value. If you analysis Bitcoin you will be able to easily distinguish this digital asset from shitcoins. Most shitcoins wear a decentralized mask and deceive traders. Especially those who are greedy for high profits in a short time. Short term projects have the temptation to earn high profits but also have risks.

By analyzing the prices of coins that are considered reliable in the market, you will understand how much the price has decreased and how much capital traders have lost. The greed for high profits in a short time sometimes tempts them to sell at a loss, as is the case in the current price trend of altcoins.

[tech30338]

People should not just invest into crypto or tokens they need to study and check what are they going to invest in the reason why they got scam is because they invest into something they just saw and think it will be greater than bitcoin because of the false promise of the creator of the coin or groups that it will surpass and the greed of the new comers kicks in and investing sometimes everything and they get wreck by this groups.

[Akbarkoe]

People should not just invest into crypto or tokens they need to study and check what are they going to invest in the reason why they got scam is because they invest into something they just saw and think it will be greater than bitcoin because of the false promise of the creator of the coin or groups that it will surpass and the greed of the new comers kicks in and investing sometimes everything and they get wreck by this groups.

The most important requirement is to know what you are doing, most people are deceived in crypto because they are gambling, he does not know where he keeps their money, does not know who operates the projects he invests in and only sees the hype and sayings of marketers so when they collapse they cry and call crypto a scam.
It is not wrong to invest in altcoins but we must first know where we are investing or not in a certain period of time and of course altcoins are only a small part of the portfolio and the big part is bitcoin and the main note is a lot of literacy and thorough observation, just like we analyze stocks, we must know the financial statements and officials in the company because that is what is fundamental.

[IjawMan]

People should not just invest into crypto or tokens they need to study and check what are they going to invest in the reason why they got scam is because they invest into something they just saw and think it will be greater than bitcoin because of the false promise of the creator of the coin or groups that it will surpass and the greed of the new comers kicks in and investing sometimes everything and they get wreck by this groups.

The one-third of the people that carry their money into a crypto project has hardly taken out a moment to analyse those alternative crypto projects before investing into them.

I tried to left it off my chest by discussing with a brother about a crypto coin he was trying to introduce to me to invest in cause the person that introduced it to him told him it is a new project and with a high prospect of giving quick profit since the price is said to pump soon.

Simple question I asked him was if he did his own dew diligence about the project, he began stammering with words and that was when I concluded he does not know a thing about the project he has gotten his money into and also trying to talk to me about doing same.

[Pablo-wood]

The most important requirement is to know what you are doing, most people are deceived in crypto because they are gambling, he does not know where he keeps their money, does not know who operates the projects he invests in and only sees the hype and sayings of marketers so when they collapse they cry and call crypto a scam.
It is not wrong to invest in altcoins but we must first know where we are investing or not in a certain period of time and of course altcoins are only a small part of the portfolio and the big part is bitcoin and the main note is a lot of literacy and thorough observation, just like we analyze stocks, we must know the financial statements and officials in the company because that is what is fundamental.

Most projects could still have loopholes that might be difficult to spot even when we understand what we are doing. After understanding the pros and crons of a project and we find reasons to risk our funds and invest, the best approach for me is to keep the risk within our means. Most preferred is to consider such invest as gambled incase it turns out to be scam. Altcoins can be very overwhelming especially as new projects keep pumping into the market each day and the rate of FOMO being projected with this project pump is even more alarming.

[Rockstarguy]

People should not just invest into crypto or tokens they need to study and check what are they going to invest in the reason why they got scam is because they invest into something they just saw and think it will be greater than bitcoin because of the false promise of the creator of the coin or groups that it will surpass and the greed of the new comers kicks in and investing sometimes everything and they get wreck by this groups.

If people conduct good research, I don't think they will feel comfortable investing in crypto because when research is done, one will have a clear understanding that Bitcoin is more reliable to invest in than other cryptocurrencies.

Normally, tokens can't be predicted because some claim to have very good potential in the market, but in the end, they still become shit coins. It is just the lack of knowledge that makes one think tokens are a better investment than Bitcoin. It is unfortunate that people invest in cryptocurrency based on their perspective, but in cryptocurrency, it doesn't work that way; understanding is a must.

[Razmirraz]

People should not just invest into crypto or tokens they need to study and check what are they going to invest in the reason why they got scam is because they invest into something they just saw and think it will be greater than bitcoin because of the false promise of the creator of the coin or groups that it will surpass and the greed of the new comers kicks in and investing sometimes everything and they get wreck by this groups.

This is why checking the fundamentals is an absolute key to avoid being trapped in FOMO and avoiding greed, novice investors need to do research before investing because other coins or tokens often promise something beyond common sense, there are even new coins that claim to be "Bitcoin killers". Beginners should never buy crypto just because of trends or other people invitations, before getting caught in the evil intentions of certain groups, so it is necessary to read the project whitepaper, learn about the team behind it and understand what problem the coin or token is trying to solve.
If the coin creator or the team responsible for the coin promises large guaranteed returns, that is a major red flag of a scam. Beginners should always remember one thing, there is no free lunch offered by any party without expecting anything in return.

[Fiasem20]

People should not just invest into crypto or tokens they need to study and check what are they going to invest in the reason why they got scam is because they invest into something they just saw and think it will be greater than bitcoin because of the false promise of the creator of the coin or groups that it will surpass and the greed of the new comers kicks in and investing sometimes everything and they get wreck by this groups.

If people conduct good research, I don't think they will feel comfortable investing in crypto because when research is done, one will have a clear understanding that Bitcoin is more reliable to invest in than other cryptocurrencies.

Normally, tokens can't be predicted because some claim to have very good potential in the market, but in the end, they still become shit coins. It is just the lack of knowledge that makes one think tokens are a better investment than Bitcoin. It is unfortunate that people invest in cryptocurrency based on their perspective, but in cryptocurrency, it doesn't work that way; understanding is a must.

Exactly most folks wants to jump into investing in a cryptocurrency without doing a solid research about the foundation,creator and some other important aspects to be checked.Thinking about a cryptocurrency that would surpass bitcoin would literally be one of the greatest fantasy of an individual,their price at the start may be very impressing but what matters most is how long they would stay in the crypto market,a lot of shitcoins came in with unrealistic price but today they’re no where to be found.So carrying out research about the foundation of any crypto aside bitcoin is a way crucial way to navigate through the crypto space.

[EarnOnVictor]

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.

Is Bitcoin not a crypto? I wonder why some of you guys are too illusionary in your thoughts than being real. I don't think I have the luxury of time to waste lecturing you on that; I'm sure you have the internet to learn that through unbias outlets.

From your context as well, many cryptocurrencies are not scams.