The Age of Crypto-Confusion & Scams..!!
OKAY
So here we are.... in this great great civilization, that has always adopted the
'Something New' of its era, be it IT revolution with mobiles and Computers...followed by everyone dissing, slowly accepting and ultimately making Gadets and Internet a Critical part of our Life. So what now? What is 'Something new' of our Age?
Well Many have found their answers in the New Emerging CRYPTOCURRENCIES.
Most of the people wern't there to observe the price surge the mother currency BITCOIN had, but they surely heared abt its tale.
So people now are desperate,Desperate to make an overnight fortune because apparently this 'Something New' has the potential of doing so.
But heres what people are doing Wrong,they are investing in an genre that is completely new even to the experts who are currently running all the crypto circus.
Volatility is something that needs to be understood as its the major selling point these cryptos have. Latest ethereum flash crash from 350 something dollar to mere 10 cents an Ether is a classic example of volatility not to mention this happened with the Second biggest market cap holder in the Crypto Market.
Scammer-Scammers Everywhere..!!😲
The oppurtunity of earning those extra bucks isnt just observed by the honest tax paying citizen around the Globe ,but also by the Scammers and Ponzi Scheme runners that take advantage of lack of knowledge on the subject with the people and ultimately lure them with attractive return schemes which are nothing but just a short lived ponzi scheme that people trust and fall for. The information widely spread about cryptos is that it can make you rich,theres no denying it by their surge trend but a person needs to understand the very basics of the subject and then start putting his hard earned dollar if he feels so. All trading schemes with MLM structure and Affiliation programs are nothing but the Ponzi schemes that payout the previous members from the deposits made by new members.
There are few things that one needs to remember.
-There no such thing as overnight Fortune.Everything takes it due course of time ,ofcourse unless u find a treasure in a day.
-Real Money is not in Buying and Selling but its in Holding.
-and the most important of them all is, past performance is not the predictor of future profits so BEWARE and be INFORMED.
Until next time
Ciao..!!
Lot of people getting into those Ponzi schemes. Big returns at first but then everything collapses.
Yes @ivangarza ...!! Most of the people realize this once they loose all their Money..!!
I too have been duped by this in the early days of Crypto and bitcoin..!
Great post! I've been learning this past months how not to jump on hype trains and be fooled by what looks like 'legit' business. You are right when you say HODLing is the way to making money. Learned my lesson, will continue learning.
Thanxx @kingabelicio ..You are better off learning the sport Before actually playing it..!!
I didnt do the same and lost quite a sum of money to one of such scams .!
Be Safe out there..!!!
Will do!