Topic: Popular projects and none popular projects - page 5. (Read 927 times)
meme coins are mostly very popular, like shib it's very popular yet it's still meme coin at the end of the day, there are many cases where the coin is very famous and ended with rugpulls I think fame alone isn't concrete proof that you aren't gonna get scammed instead I think you should see the underlying project technical and the devs itself, moreover if coin gets listed in platform like binance there's lower chance of having rugpulls in the future.
There's no guarantee that popular projects won't take your money away. Some time ago we were faced with a coin that was popular even had a high rating in the market, but still it brought a very big loss to date, I think I don't need to mention which coin because it happened recently and even they made a new project again which I think will have the same fate as the previous coin.
Do not be lured by its popularity, because it could be a very terrible trap. If not quite sure it is better to put money on the already self-explanatory bitcoin.
Do not be lured by its popularity, because it could be a very terrible trap. If not quite sure it is better to put money on the already self-explanatory bitcoin.
Popularity being used as an indication of where to put your money is reckless. Terra Luna was once popular, and Squid Game Token was also popular. There is no certainty that the term popular could be established to firmly stand whether some projects are safe or not. There is more assuring effort like analysing the token/business model, and the underlying technologies which could be used with more weight compared to popularity.
Popularity only affects within pump and dump scheme, but be in mind a scam scenario like Squid Game exists.
Popularity only affects within pump and dump scheme, but be in mind a scam scenario like Squid Game exists.
If I invest in a popular project does that make my money safe from scams or popular projects can turn to scam as well?
A popular project does not mean a legitimate project. We have so many examples of the same, since my time BitConnect became a massive hit, but then turned ponzi, probably you never heard of it and recently the Terra project.These project may initially look legitimate, but you can never understand when they reveal their true colors and by then it is too late. Properly done research might sometime reveal the red flags, but often the scammers reveal very little info so as to keep investors in the dark while giving out lucrative offers for taking the money.
Since the crypto space is not regulated a large number of scams may be going on right under our noses, but they will be caught in the coming 10years, not now when the hype is at peak.
it could have happened at any time after several high-profile projects collapsed in the last year. because we won't fully understand what the existing famous projects have planned and our job is only to do our own research before putting our money in the project.
and for me it is safer to invest in bitcoin which has been around for a long time and has a good track record for a long time and never disappoints investors in the long term. if you want to read all the bitcoin journeys from the beginning until now, chances are you will prefer to go there
and for me it is safer to invest in bitcoin which has been around for a long time and has a good track record for a long time and never disappoints investors in the long term. if you want to read all the bitcoin journeys from the beginning until now, chances are you will prefer to go there
It's not about whether the crypto project is popular or not, but how you research and understand why you should buy the coin.
There are more significant disadvantages than gains if we are not knowledgeable about the project.
Crypto is a high-risk investment asset, and the victims of scams are newbies who FOMO a crypto asset.
Do not invest in crypto assets without understanding the fundamentals and use case of the coin. DYOR
There are more significant disadvantages than gains if we are not knowledgeable about the project.
Crypto is a high-risk investment asset, and the victims of scams are newbies who FOMO a crypto asset.
Do not invest in crypto assets without understanding the fundamentals and use case of the coin. DYOR
Well, look at terra. But yes, relatively less chance to get berserk.
well this a good of example,
i mean yeah terra have a good community a good backend of investor good at development but still hahahaThen you must learn from what happened with terra luna, bitconnect and some major projects that have been going down due to the serious problem. There's no guarantee if top coins will give you safe place to store your money. Your money will not be safe. If you wanna put your money into the risk and then use it as investment rather than store of value. There's no safe place in the crypto other than owning fiat balance.
Truee haha . NO SYSTEM IS SAFE
Well, look at terra. But yes, relatively less chance to get berserk.
I assume by 'fiat balance' you mean stablecoins, then even UST fell. Imo there is nothing completely safe in the world.
..There's no safe place in the crypto other than owning fiat balance..
I assume by 'fiat balance' you mean stablecoins, then even UST fell. Imo there is nothing completely safe in the world.
If I invest in a popular project does that make my money safe from scams or popular projects can turn to scam as well?
The latter could happen too and its proven in the past. Best example is bitconnect. Also some others well known projects that collapse and got their dirty tactics exiting the market. It doesnt mean that if you invest on a popular one then your safe. What you need to invest in are those big projects with a lot of proven legit and has a major background. Well for that you need to check top projects, some of them arent popular but indeed more trusted than those popular one.
Look at the community in the project, whether it is active, and how the developers work with the community.
I can give you an example of a promising project Amulet Protocol.
Amulet Protocol, it is a decentralized risk protection protocol.
This project at the moment probably has the most active community, and the developers are very open.
So here's an example of one definitely not a scam project. DYOR
I can give you an example of a promising project Amulet Protocol.
Amulet Protocol, it is a decentralized risk protection protocol.
This project at the moment probably has the most active community, and the developers are very open.
So here's an example of one definitely not a scam project. DYOR
If I invest in a popular project does that make my money safe from scams or popular projects can turn to scam as well?
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