Topic: Do the needful this period and save yourself stress and heartbreak - page 3. (Read 638 times)

Thanks for the reminder. I've been in the crypto space for many years already, and I'm confident enough to say that I will not fall into these scam projects, or me being hacked whatsoever. What I worry about is those newbies who don't know anything about cryptocurrency.

Newbies who are just starting, and the first thing that they will encounter is something that will scam them. Newbies will get lured by these scammers to invest in their project or whatever it is in exchange for some huge monthly interest. I worry about those newbies out there who are prone to scams and hacks especially now that we are near the bull run phase, and with this, newbies tend to decide based on what they feel not on what they know. They feel that they don't want to be the last on the ride thus, they will immediately invest their money into a project that they don't even know only to end up as a scam project. I also started as a newbie, and luckily I didn't fall into these scam attempts even though I've received many emails from them. What I did was I watched videos online on how scammers are scamming people so that I would know what to do if the time comes that they will come to me, convince me, and try to scam me.

Overall, this kind of advice will help maybe at least 1 or 2 or even more newbies out there, but there's no harm in constantly reminding these newbies to be vigilant. As for newbies out there, at least equip yourself with knowledge first before investing.

Ahhh the pump groups. Each time we have a bull season and a larger number of newcomers are entering the cryptocurrency world there are an increased number of scammers who start fake operations telling these newcomers about the "profit" they are making by buying shitcoins as if they see the future.

Little do the newbies know, these scammers are entering that shitcoin then tell the newbie to buy that shitcoin so that the scammers can sell their bags at a profit they take out of the newbies' pockets.

Its always normal for numerous altcoins projects to spring up few months to halving as this is a period almost every project is hoping to experience a pump in their prices because of the attention that cryptocurrencies attract these periods, all thanks to bitcoin for creating such season of positive energy. The heartbreaking thing is that most of them do not get listed at the end of the various campaigns. More dangerous that people are doing all the risky tasks they present like connecting their wallets and main social media handles even unintentionally. These guys are really advancing by the day and I see a lot of their tricks that can catch unsuspecting individuals, I try my best to raise alarm in groups where I belong, but people are greedy already and it will lead most of them to regrets later.

It really wounds me that at this period, when you try relating security threats to unsuspecting individuals, they see it as though you are against their progress, that's the basis of these scammers progress, they have a way of convincing  greedy and unsuspecting people to trust them easily in expectation of their empty promises which has a high possibility of turning around to the loss of such individuals. Most people have sworn to learn from experience rather than information and what baffles me is when I see people who have been scammed before still engaging in such projects saying that the present project looks more real. Its surprising how ready people are to patronize scam projects even more than legitimate ones.

Not everything when we search on internet is legitimate information, for example if we type best wallet then it will give lot of articles that filled with craps and it may show bitcointalk results too but not always on the top of results so whoever search something on internet may get mislead too.

As you said, it's the investors priority to find the good projects and in my opinion every newbie should start with Bitcoin and hang around a bit to understand how market works before taking risks with shitcoins.

Most of the people who invest in this bull market have limited knowledge of how the crypto space works. They were just attracted by the increase in the price of most cryptocurrencies. I was in a betting shop and two friends were discussing the bull run and how they bought some altcoins which turned out to be a scam. A careful examination of their discussion points to the fact that they don't know anything about the market. Maybe they saw an advert that promises a mouthwatering profit and they wanted to get rich quickly.

Before investing in any coin there is a great need to invest in learning to avoid being a victim of scams. Investors shouldn't be too lazy to put in a few hours of research to ascertain the genuineness of a project. There is also a need to learn how to keep wallets safe to avoid phasing and hacks. The beauty of the crypto industry is that everything you need to learn can be accessed by just a quick search on the internet.

I mean the market price is just really volatile at this time of the market so a single little news could easily affect the market price of Bitcoin at any moment, so there is a lot of manipulation of the market at any moment, bringing up this kind of news right now, especially on a hype market is going to make them some money, if they wanted to buy more Bitcoin they could release hacking news that might scare a lot of traders making them sell of, But it's true that at this moment hackers are getting a lot more aggressive since there are a lot of traders out there that are vulnerable to hacking just because there are kinda new to this trading thing. There are for sure a lot of Cryptocurrency projects that is being developed with and scammers are finding new ways as well how they are going to trick newbies in the space.

As you get more knowledgeable you can easily avoid these kinds of scams and hacks, so what you just need to do is make sure to do a lot of research in order to protect yourself from it. Because hackers cannot hack you if you know something about how they do it you know the right thing to do in order to avoid it. Most likely it is still going to increase because of the hype in the market, there's nothing we can do about that because for sure they are earning a huge amount on hacking people so they are not going to stop unless they are not earning anymore.

If they really wanted to invest then they should have chosen to invest in altcoins that are already in top list instead of investing on new altcoins but if they want to be sure that they won't lose all their money then they should invest in bitcoin. Although the value they have may decrease when btc price decrease but the amount of btc they have would still be the same like i have 1 btc and the price decrease to 50k then I stills have 1 btc but when it increased to 60k then I have 60k. Even though it is on the top crypto people should still be careful as their might be a clone or fake crypto with same name. One more thing, invest what they can afford to lose.

Even some people who believe themselves to be crypto professional may start giving the confusing advice for newbie investors to also invest in altcoins as a way to ensure that they really benefit during this season. Some of their reasons may be very convincing and enough to make you an investor want to consider investing in new projects, projects either endorsed by them or not. Investing in new altcoins now apart from the already good altcoins with a reputation and bitcoins the ultimate is a risky move.[/list]

This reminds me of the TRON airdrop  scam that was all of the internet few days ago. Friends were sending their referral link  for me to sign up and get the airdrop. They kept sending me screenshots of their so called wallets to convince to quickly sign up, follow the process and get my own rewards. This also turned out to be scam.  It is not only this case there are other projects that have rug pulled and investor's funds gone down the drain.

No matter how much you sound the alarm for people to stay away from these types of shitscoins and projects they won't listen because they want to cash out quickly.

I guess where there are newbies, scammers also take advantage. But I guess within this bullish market, scammers are not only eyeing for newbies but certainly for all investors out there most especially for those who are motivated with their greed. Learn to invest only on the amount you can afford to lose, as much as sell only when you think there is a deep reason to sell. That way, scammers won’t find any holes that will lead them to scam us, and most importantly, while this is the season for profits, protect your wallet 24/7 so that scammers won’t find means to steal our coins from its storage.

This is an excellent lesson for all of us, not just newbies; we should be very cautious at this time because everyone, including scammers, is attempting to earn money with cryptocurrency.
These scam methods mentioned above should be rigorously avoided because all centralized exchanges and anything involving centralizations are untrustworthy.

It is always sung like a song on this forum about "not your key, not your coin." Anyone who fails to adhere to such warnings will bear the cost of their ignorance. Holding Bitcoin for a long time requires storing it on a self-custodial wallet, which gives the holder full control over their asset, rather than storing it on a centralized exchange. 

Any investor who is also planning on investing in altcoins should only invest what they can afford to lose. It's certain that the Bitcoin price will surge high due to the bull season, but altcoins only use the opportunity of the Bitcoin bull market to pump, which is why most altcoins are not also profitable. Like the OP already said, scammers use different methods to scam investors out of their funds. They can develop new altcoins as a means to scam investors, and that's why it's important to be careful about the kind of new altcoins to invest in. 

Scams exist in the crypto market irrespective of bull or bear market but most of the newbies enter the market in the bull season which could be the reason why the number of scams is high during the bull run. The friendly remainder is going to be effective, I don't think so because the people who really do their research before risking their money will be cautious and one who just blindly jumps in will learn the lesson in hard ways.

And this exactly what most of these owner of these new altcoin project do. Lately there was this scam project that has been flooding the internet in my locality and the name of this airdrop is IRON and they claim to link with matic polygon network and also claimed that people can actually get from from this coins as they claim people having the coins can now swap it through a link in trust wallet browser to USDT and the crazy part is where the scam locates which is the network fee required for you to swap the coins which is at exactly 12$ worth of matic and when you pay this fee thinking to have your coins swapped to USDT the whole process start all over and the fee gone.

In such times where it is easy for the fraudsters to raise more money and achieve profits, so they will pay well to promote because the advertisement and promises with quick profits attract more customers more than building something valuable.
Do not believe the fraudsters or any new project, invested in Bitcoin and projects that have a significant market capacity, do not force new bridges or those projects that have nothing but promises that you will make quick profits.

The high rate of scam through all this altcoins is something alarming one just have to stay informed and vigilant not fall for all these altcoins and their antics. The other day a friend to me that he was referred to by another to join in promoting the coins on X(formerly twitter)  and Telegram and other social media platforms and after that he should refer the altcoins to 5 different people and he will be rewarded with an amount of the coins so that he can exchange to fiat he did accordingly but to his suprise all about this altcoin was rubbish. They just keep deceiving people that the coins is the fastest growing coin and it will hit so so figure but all are lies. Anyone interested in investing in crypto just have to be very careful of the antics of all these altcoins. Bitcoin is the most reliable, it's evidence is crystal clear can't be compared to all these altcoins they just want to disguise and take advantage of Bitcoin growth to promote their shit coins or scam individuals.

note: just a quick reminder

The bull market is here once more and we can definitely see the effect it has on folks that HODL and others that are weary in a haste to sell off their coins due to FOMO and also others that were doubtful are still going crazy looking for huge funds to invest in Bitcoin for particularly the same reasons.

And this period comes with alot of significance because a whole load of shit normally happen during this period like

• crazy scam altcoins projects
• exchanges bringing up stories about being hacked

• hackers striving to get to as many victims as they can
• scam traders flaunting their progress to lure novice into trading of their coins

All these and many more happen during this period so it would be nice for every newbie and know what to do to avoid such stories especially for the aspect of saving or keeping your coins on exchanges.

Let's all stay smart out there and avoid getting entangled in any scam event and be always be on guard that these are trial time for those that refuse to learn and heed to advice.