Lots of victims have invested in DeFi projects, where a lot of scammers have been used, right as said in the opening post.
Don't be influenced by all the DeFi hype, which many investors ultimately neglect to analyze first and become a buying FOMO
DeFi projects at peak prices. Finally, the project is a price dump, we can lose the capital we have.
Topic: Do not fall for all DeFi HYPES - page 3. (Read 756 times)
Lately, there is a craze regarding DeFi projects. Looking at the solutions being brought into light which is basically to leverage decentralized networks and to transform old financial products into trustless and transparent protocols which is able to run without intermediaries. However, scammers will use this hype to their advantage as well. Do your research carefully before investing in any project, hype or not. Do not fall for just any project which claim to be DeFi projects. We are so excited that we may forget ourselves and just looking forward to the profit if the value of the token increases. Let's not let our guards down as we are not in normal times. God bless!
You are right about the hypes, i feel they are normal hypes especially when it is associated to new developments on the blockchain scene, it is up to each individual to focus on the positives which is taking profits and continue to research on every project you plan to invest on
Defi project is being a new trend form in crypto market. But, be careful when there are a lot of projects which be created continuously and It is really look like ICO's trend few year ago. Be carefull
in the history of crypto there are always surprises. I am not surprised that the defi project has become trending in the crypto room. This hype makes bitter and sweet moments. In my research on the defi project it will last longer than the hype ico. we have to be careful investing in defi project trends because a new defi project will not necessarily be profitable, so choose an old Defi project that already has good development in the crypto space.
After finishing the ICO and IEO hype now people are running behind the DeFi hype. I'm also not different from others. But as we saw back in 2017-2019 there were a lot of scam ICOs. Because scammers love to take the chance of hypes, it makes there's work easy. For that they will surely take the chance of Defi hype also and will try to make some money.
Yes, we should be aware of this. And who ever you are, before do an investment in anything you should do a own research of that platform. So that, scammers won't be able to take the opportunity. Be careful!!
Yes, we should be aware of this. And who ever you are, before do an investment in anything you should do a own research of that platform. So that, scammers won't be able to take the opportunity. Be careful!!
Really this is where everyone need to be careful because scammers and hackers use this as an opportunity to defraud people who are naive on how to protect their assets. Guys be careful out there.
Scammers will always be there to take advantage of anything they can especially if it's getting the attention or hype if the people. But now that DeFi is recently getting the hype, we should be careful about trusting projects. You are also right that the hype for DeFi is not bad, you just need to make further research, not just following it without any background about a certain project. Even if there are real and good projects, there will always be a fake one that we cannot escape. If you're really looking for a good DeFi or any project, research is always necessary to avoid getting scammed by the fake ones.
And the first DeFi project already lost most of it´s gains - Check out the Ampleforth (AMPL) chart- https://coinmarketcap.com/currencies/ampleforth/
Well, most DeFi platforms are actually experiencing meteoric growth at the moment—whether deservedly so or not.
So long as you don't believe that they'll be around in several months or years, and you just trade the trend you should be fine. I personally trade a bunch of DeFi coins like Orion Protocol (ORN), Stake, Aave etc, and don't have emotional affiliation to them.
Just trade with pure logic and no sentiment, and you can turn a profit. Stay away from anything with an anonymous team or no working product though.
So long as you don't believe that they'll be around in several months or years, and you just trade the trend you should be fine. I personally trade a bunch of DeFi coins like Orion Protocol (ORN), Stake, Aave etc, and don't have emotional affiliation to them.
Just trade with pure logic and no sentiment, and you can turn a profit. Stay away from anything with an anonymous team or no working product though.
Newbies most especially needs to be extra careful about DeFi projects, they should avoid jumping into any new projects without doing good research first and popular DeFi projects are even better and more reliable
no problem to participate in the Defi project, but there are also things that must be considered, one of which is an indicator when trading and ROI of the coin, if it is too high my advice do not join, if you join then the risk will approach you
Newbies most especially needs to be extra careful about DeFi projects, they should avoid jumping into any new projects without doing good research first and popular DeFi projects are even better and more reliable
Absolutely true, one need to research extensively before investing in a project especially the new ones full of FOMO! Many noobs will just hear about a DeFi project with unconfirmed partnership but will jump at it hoping to see make quick buck.
No doubt DeFi is the latest hype right now just like ico hype last few years, scammers will definitely wants to take advantage of it. The hype will soon subside and lots of people will be scammed from it. A friend of mine who bought $comp at higher price due to the DeFi hype is currently regretting why he bought it
It is not even scam, it is not even the ones where people try to steal your money, those are everywhere, both in crypto world and in real life as well, there are people trying to steal your money in all over the world. However the bad ones are just too funny with how they are making themselves look and how they claim they will be in the future, the ones that eventually just fails, not scam, just bankrupted and failed, they claim they are going to be the FUTURE OF MONEY for so long that eventually you start to laugh about it.
Like, dude you have been around for a month yet, you didn't even get that much attention, calm down and just focus on what you can do with what you have and not what you want to achieve with unlimited money and sources if it was given to you, that is not going to happen.
Like, dude you have been around for a month yet, you didn't even get that much attention, calm down and just focus on what you can do with what you have and not what you want to achieve with unlimited money and sources if it was given to you, that is not going to happen.
We should not investing in any projects based only from the hype because scammers can use it, luring people to buy their project.
Hype is not bad, but hype alone is no different than other scam projects, hype + real use case project is the key to become a success project. DeFi project is good, but if only it is not a fraud one.
That's why we need to check it by ourselves, if we don't research and keep telling the project is a fraud then all promising project will be all considered a fraud. There is something maybe in the hype it gets, the idea is for better financial system that is needed for transparency. What we jist need is to clearly monitor how the project will be implemented and how legit the team behind them. Investing is researching and risking after all. Hype is not bad, but hype alone is no different than other scam projects, hype + real use case project is the key to become a success project. DeFi project is good, but if only it is not a fraud one.
The saddest thing is that due to the large number of scams, good projects also suffer, as it was during the ICO boom.
2017 success was what ruined ICO projects, scammers took over right after many success stories about ICO projects filled crypto space and the internet, I believe same thing is about to happen with DeFi projects soon
Thank you so much for this advice. Some Defi coins have started breaking hearts with pump and dump and some after listing on a particular exchange team dumps it on investors and run away so any coin or projects that claims to be Defi please always do your research before jumping in. Scammers have already started invading.
Indeed you're right. Scammers are attracted by profits as much as investors are, so whenever some area of crypto creates hype and pumps - scammers will be around as quickly as possible to gain their filthy funds 
We should not investing in any projects based only from the hype because scammers can use it, luring people to buy their project.
Hype is not bad, but hype alone is no different than other scam projects, hype + real use case project is the key to become a success project. DeFi project is good, but if only it is not a fraud one.
That is why we need to research to find the project which is not hype. But it is difficult to find the right project because almost all project looks real and not giving a sign to scam the investor. DeFi project is the next trend of cryptocurrency, but as we still at the bearish trend, the DeFi project is not exploding yet. So if you want to invest in the DeFi project, you need to research and find more info to know which project you can choose to invest. Hype is not bad, but hype alone is no different than other scam projects, hype + real use case project is the key to become a success project. DeFi project is good, but if only it is not a fraud one.
We should not investing in any projects based only from the hype because scammers can use it, luring people to buy their project.
Hype is not bad, but hype alone is no different than other scam projects, hype + real use case project is the key to become a success project. DeFi project is good, but if only it is not a fraud one.
Hype is not bad, but hype alone is no different than other scam projects, hype + real use case project is the key to become a success project. DeFi project is good, but if only it is not a fraud one.
Alot of fraud and scam are already noticed in DeFi project. some investors are already com[plaining . I just hope the way the hype on Defi project is going it wont turn out to be like the then IEO which alot came out just to scam investors . we need to be careful in investing in them anyways.
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