Topic: Beware of social media influencers promoting crypto vendors (Read 219 times)

Wetin you talk na true, for me I go like talk say this social media influencers wey dey advertise brands wey them no know anything about the brand all wetin them care na money, them sef contribute to the way our economy dey now.
This topic wey you bring no dey for only bitcoin e dey for fait too. Many people don loss money just because say their favorite influencer advertise this platform or brand. Make everybody dey careful oh because people people wey dey outside ready to do anything for money. Sometimes I see videos like I invested my money on this platform and I got 10×  profit, all those things na scam.
Me I don already talk am say na mumu dey fall for those things, free thing no dey anywhere, if you want 10× profit just work hard for it rather than investing your money on scammers

Most times when I see all these guys guys, skitmakers, musicians, BBN stars, footballers and the lost of them way dey for we society dey advertise one brand or the other, one thing I dey like mutter to myself be say; here is another one way dey advertise people way e no dey patronize. If them no dey patronize am and yet you dey see them shine teeth and shake body for the brand, why should you!

One thing plenty people no understand be say, endorsement no mean say them dey knot in the brand or process. There terms and condition dey exclude them from every every. Make you kwa use your head dey follow up. All these guys get where them dey feet’s and head in, no forget say na hustle them dey. Nothing true pass say, them dey use am collect money.

Na this part be some of issue, we too believe on these people because say them popular but always dey forget say even if person popular nor mean say them fit give financial advice or get money sef way them dey claim. we don see how many of them EFCC don detain bcos of fraud or other illegal activities. Lastly, make we nor forget say these people fit bankrupt sef .

op, some of these influencers know say watin them dey advertise na scam or say risk dey involve like the octaFX copy trading but they go just choose to do/sugarcoat am bcos say they go pay big money and nor be them dey lose.

 I once made a reply on a thread related somehow but different  though,  believe it or not  discussing this over and over till next year won't solve anything  most hype will still continue to come from social media  but guys,  it's  not forcefully brought up and you always have a choice to dig in much bigger into it there's no way this media will wipe traces from Internet.

 There's till many a lot of news as well as write ups backing it up you just need to make proper research to get a perfect and satiable answers to your questions and proper review  about your targets.

Just as brainboss said they are not financial adviser and whatever you are doing you should apply cautiousness as you may fall prey for those platform they are promoting, as 9ja we be we no supposed easily fall something wey we know say we need to do research before we go rush join the investment platform or whatever we finds out those influencers are promoting.

Most time we no need to blame people because anoda thin na lack of knowledge and understanding, we feel say as e from them everythin legit wey be say somethins no pure. And the country don do people onto say them no dey reason again for one day, if them hear any news them go rush go there to put money because them dey find where awuf money go take enter their hands to take sustain family. So you no go blame people like this wetin I dey see here na " where belle face na there food dey" so every body go like to rush go to become earlier people to benefit before then begin hear say e don crashed.

OP nice topic, actually this has been the strategy of most Ponzi scheme by using social media influencers to promote there products, obviously they no that when people will see those celebrities advertising about there platform they will be thrilled to venture immediately with the belief that since the celerity is the one promoting the product it tends to be very legit and perhaps the celebrity may have been benefiting from it, and before you no people has rush into it and along the line they get scammed, but what most people fails to no is that those influencers have not for ones try out the platform instead they are only at for the money they are being paid by the vendor.

You just made a very vital point. Normally I'm not really a big fan of unnecessary investment platform when de in the form of Ponzi schemes but I nearly fell victim because the person that did the promotion na celebrity.

Na the same issue we de get with out religious leaders. because they feed us with Gods word and give us spiritual advice, we sometimes feel say they go fit give us legit advice or update on field when dem no really de into.

After I fall victim for the influencers, I no think say I go ever listen to whatever them fey talk again, until I confirm am say na true by myself. They can do or say anything to get paid, and they don't care about the feelings of their fans, but they are only after making money. Social media is a place which people promote scam and claim that the project is the best, when they know that it is a lie. Na so one of my guy come tell me about one shitcoin, and I tell am say na shitcoin but he say na one celeb dey advertise am. After I explain everything to am, he come vex why them go deceive people to go throw way their money.

The investigation part is very necessary because no be every social media promotion person suppose put hand in. This na one reason besides the fact say government want control the citizens, wey make them say them want make every social media account dey registered.

Cryptocurrencies na the trend for most young guys when you ask them their hustle, but watin dey more common na this shitcoins vendors wey fit carry person money disappear at anytime.

 Most of the promotions on social media serves to help the popularity of cryptocurrencies surge on social media platforms, thereby creating a correlation between social sentiment and crypto price fluctuations.
Crypto vendors like Binance, luno, paxful, Coinbase, only do well to ensure crypto buying and selling or facilitate transaction Payments and should be well known before using them.

No be issue of say my favorite celeb dey advertise one crypto vendor wey just start business, then I go just rush go begin use am. Many of the influencers no dey even use the vendors them dey influence.

Wetin you talk na true and me no dey take dem seriously. Dis social media influencers no send you and na their own gains dem dey after. Dem go promote whatever garbage wey dem get to promote to their followers, collect money chop on top while their followers go use their money buy data, use anoda money come still subscribe to de service wey go fit turn out to be scam. We need to dey shine our eyes, just as BrainBoss talk social media influencers no be financial advisors, dem too dey street like us. Make we no dey rush go commit our funds to a service or project because a reputable influencer endorse am, make we learn to do our own research.

I nor dey take these social media influencers seriously. Dem be like celebrities wey dey advertise non-registered, harmful, skin-glow products wey dem nor dey use. They are in for the money. Make una nor get me wrong, not all of these crypto projects are scam or terrible but some of them never mature enough. Make I give una an example from personal experience. Una abi this Roqqu. I think it is a crypto exchange app built by some Nigerians. One of the reasons wey make me download am na because say this influnecer, Aproko Doctor, influence for them. Him talk about how the app na this, the app na that. Una nor go believe say na Google form dem use dey do their verification process. You need to fill out your information on the Google form. To even do this, you must even first sign in to your gmail. The main koko be say, e don reach 2 months now wey I submit my KYC for verification, them still never verify me. And mind you na the same verification documents and details I submit for Binance, Kucoin, and Remitano. And all these ones nor even reach 24hours aside Kucoin wey be 24 hours before I was verified.

Na so e dey be. Make we say plenty of these things are caused by the proliferation and non-regulation of the contents that are flown over the social media platforms. The ministry wey supposed to dey at least checkmate these things for the masses no really dey function like that, for that reason, plenty people dey see say dem fit advertise anything wey dem bring come for them, especially as far as money go dey involved. Dem no wan do plenty research on the standard of the company wey them dey advertise


Your first paragraph dey so, so give me joy my oga. But the truth be say, even many of them dey put am as disclaimer say them. Them no be financially adviser,, so make people no dey take their words serious since them. Having said that, plenty content creators no dey do better background check on wetin dem they promote for social media and na that non- charlatan attitude na him make dem no dey care. We don see plenty situations where influencer go dey write long note from lawyer say him dey disassociate himself with product. And na why I fit agree say, Although Davido and Wiskid dey collect adverts too o. But dem dey do proper investigation before entering into working for them.

Most people who call themselves influencers of cryptocurrency don't even know anything about cryptocurrency,  them just they do all what they are doing to make money. Make beginners no take every crypto enfluncer as crypto Lord if not they may risk losing their money. Social media is full of lots of scamners,  people just  they find how them go take money from beginners and beginners they fall to it because them just they too desperate to make money.  

They're called influencers not financial advisers so make we no dey believe everything dey post blindly without doing our own research. If dem talk say A na black, no just believe but do your own finding before you believe dem. This guys are hustling, most of dem are newbies like us but dey just have a large social media following so dem dun take dat pros become influencers. Some projects self dey tell dem things to talk because dey know what will drive people to pick interest in their projects so nobody everything wey we dey hear from their mouth be their own thoughts. Influencers are there to bring publicity to the project and not your guide to a safe investment just as people dey believe everything this influencers dem dey talk and make investment based on what dey say, that one na very bad investment practice, no use anything wey you no sabi how e be just because another person talk say e go well.


Even when dem dey free like the project no pay dem for the promotion wey them dey do, no forget say most projects get a referral commission program wey anybody fit use to make money from affiliate marketing. E just dey like 1xbet wey we dey see many influencers dey promote, most of dem no get any official partnership with the company but just affiliate marketers that get paid through referral commission so make we no dey believe anything wey we see. If you dey find better cryptocurency platforms to use like exchange, wallet. Ask question for here and we go direct you go the ones wey we dey use and dun confirm say dem legit and even after recommending, still do your own research before you use dem. No believe anything wey you see online both on and off the forum, as all that glitters is not gold.

This na serious mata guys, we dey see how many influencers the spring of in the Nigerian scene well many of them dey entertain us no doubt and there is nothing bad with all that, I am a big fan of comedy content and I have followed many of the social media content creators that entertain me with comedy videos and as they get popular they want to monetize their talent well that's not a bad thing.

My issue here be say many of this content creators then turn to social media influencers and not just that they influence platforms that pays them without even checking wetin them dey influence, the result is they get richer and their followers who joins such gets hurt.

No matter how you like or enjoy any content creator this does not make them genuine, they get paid for everything they endorse (it's not free), if you must use what they endorse always make sure you do a very extensive research about it.