Topic: Reason Why People(Mostly Newbies) Fall Victim To Scams Easily. - page 2. (Read 681 times)
The answer to this question is not as simple as one may think. And it could happen to anyone irrespective of the age. A newbie here may not necessarily be someone of a younger age. I remember one of my older friends getting scammed. When I asked him why he feel for the scam, he said he wanted to help his grandkids. He wanted to give them a sort of better life, give them motor vehicles, put them in a better house since their parents are dead and they aren't doing so well.
Just as you've said most newbies make this mistake, most see it as a quick money platform, forgetting that it also requires alot of studying, time, dedication and so on. When you make this mistake you tend to lose so much money than you even intended.
Newbies need to spend a lot of time first in this market before they could understand that it's not that simple just like buying and selling in this market. Once they know how it works they would probably expand their experience and learning and would not fall easily with the FUD that most of the market bring.Reading and understanding plus have a huge patience if they want to succeed in this market. Bitcoin market was not design for short term investment, that's why someone needs a lot of patience if they want to get that desired profit. And to avoid to get scammed is your need to learn the experience of others and don't trust anybody in the internet.
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Newbies are mostly greedy and that they always expect that investments comes with guaranteed profits, the reason why they take every chances in every projects that promise huge profits. If not for their greed, they won’t end up being scammed easily. Also, most of the newbies lack knowledge and experience so their decisions are just only for trial and error, they don’t have various experiences to consider so they would end up with a right and fixed decision in investing.And also, some of them don't even know what research is, especially the not too educated ones, I know this because even at the moment, I have some friends who don't know how to use search engine, for this kind of persons, it looks like trying and failing is the only way they can learn, most especially if they don't have a trustworthy person to mentor them.
The problem is that the majority of people, investors, traders (most especially, newbies) come into the crypto currency space with the mindset or rather, expectation of getting rich overnight.
It can happen of course, because nothing is impossible in crypto, but understand that this is not 2017, the chances of someone getting this lucky is extremely low in this time and age, if you can’t invest and wait for 3 to 5 years to be financially independent, investing may not be for you, if you cant be patient and learn how to trade, bear some loses until you are good enough to start making consistent profit, then crypto trading might not be for you.
Like many of us use to say, if you can't hold for 5 years, don't hold for 5mins, and if you can't bear -28%, don't expect +28,000%.
Make sure to have a long term investment plan, and while you invest and wait, you can trade actively on the side. Could be P2P or actual spot or futures/margin trading on the side to make little profits on the way up.
Get proper education and clear direction, know what you are doing at all time and be patient.
Many might have the education, but not having a clear direction and lack of patience is one of the reasons many (especially newbies) end up loosing their hard earned money to scammers.
Newbies are mostly greedy and that they always expect that investments comes with guaranteed profits, the reason why they take every chances in every projects that promise huge profits. If not for their greed, they won’t end up being scammed easily. Also, most of the newbies lack knowledge and experience so their decisions are just only for trial and error, they don’t have various experiences to consider so they would end up with a right and fixed decision in investing. It can happen of course, because nothing is impossible in crypto, but understand that this is not 2017, the chances of someone getting this lucky is extremely low in this time and age, if you can’t invest and wait for 3 to 5 years to be financially independent, investing may not be for you, if you cant be patient and learn how to trade, bear some loses until you are good enough to start making consistent profit, then crypto trading might not be for you.
Like many of us use to say, if you can't hold for 5 years, don't hold for 5mins, and if you can't bear -28%, don't expect +28,000%.
Make sure to have a long term investment plan, and while you invest and wait, you can trade actively on the side. Could be P2P or actual spot or futures/margin trading on the side to make little profits on the way up.
Get proper education and clear direction, know what you are doing at all time and be patient.
Many might have the education, but not having a clear direction and lack of patience is one of the reasons many (especially newbies) end up loosing their hard earned money to scammers.
Just as you've said most newbies make this mistake, most see it as a quick money platform, forgetting that it also requires alot of studying, time, dedication and so on. When you make this mistake you tend to lose so much money than you even intended.
IMHO, the number 1 reason is greed; it causes folks to go against their better judgement. Maybe the mentality is if I am right just one time, I'm set; however, this can be worse than the baddest of bets. Next would be impatience, not taking the time to gain some knowledge and also understanding the landscape. Then, apathy when it comes to due diligence/vigilance. Finally, the scammers themselves- they have gotten much more sophisticated.
Greed and the false idea some people have that they can make huge guaranteed profit by investing in cryptocurrencies are the main reasons why many fall victims for those scam attempts.
Lack of knowledge isn't an excuse, in my opinion, because even if you don't know anything about cryptocurrency, it shouldn't be hard to realize that there is something wrong when someone offers to double your money in few days or tells you he has a magical trading strategy which can generate a huge profit.. Some scam schemes are too obvious but people still for them.
Lack of knowledge isn't an excuse, in my opinion, because even if you don't know anything about cryptocurrency, it shouldn't be hard to realize that there is something wrong when someone offers to double your money in few days or tells you he has a magical trading strategy which can generate a huge profit.. Some scam schemes are too obvious but people still for them.
The problem is that the majority of people, investors, traders (most especially, newbies) come into the crypto currency space with the mindset or rather, expectation of getting rich overnight.
It can happen of course, because nothing is impossible in crypto, but understand that this is not 2017, the chances of someone getting this lucky is extremely low in this time and age, if you can’t invest and wait for 3 to 5 years to be financially independent, investing may not be for you, if you cant be patient and learn how to trade, bear some loses until you are good enough to start making consistent profit, then crypto trading might not be for you.
Like many of us use to say, if you can't hold for 5 years, don't hold for 5mins, and if you can't bear -28%, don't expect +28,000%.
Make sure to have a long term investment plan, and while you invest and wait, you can trade actively on the side. Could be P2P or actual spot or futures/margin trading on the side to make little profits on the way up.
Get proper education and clear direction, know what you are doing at all time and be patient.
Many might have the education, but not having a clear direction and lack of patience is one of the reasons many (especially newbies) end up loosing their hard earned money to scammers.
It can happen of course, because nothing is impossible in crypto, but understand that this is not 2017, the chances of someone getting this lucky is extremely low in this time and age, if you can’t invest and wait for 3 to 5 years to be financially independent, investing may not be for you, if you cant be patient and learn how to trade, bear some loses until you are good enough to start making consistent profit, then crypto trading might not be for you.
Like many of us use to say, if you can't hold for 5 years, don't hold for 5mins, and if you can't bear -28%, don't expect +28,000%.
Make sure to have a long term investment plan, and while you invest and wait, you can trade actively on the side. Could be P2P or actual spot or futures/margin trading on the side to make little profits on the way up.
Get proper education and clear direction, know what you are doing at all time and be patient.
Many might have the education, but not having a clear direction and lack of patience is one of the reasons many (especially newbies) end up loosing their hard earned money to scammers.
Thanks for the advice. I believe this is very timely considering the present market situation.
A lot want to get rich quick, forgetting that cryptocurrency is not a get rich quick scheme.
Many today who have made it big in Crypto have sacrificed a lot in terms of time, money, but some newbies wanna be rich overnight. It might happen, you might be lucky, but don't expect it to always be that way.
Let me guess, it's because they are newbies? 
That's the reason 
.Newbies are the ones who fall easily to these scams. Correct me but there are newbies out there that are very greedy that they don't have time to do some research and what they will do is to just throw their money and if they see that they can earn high profits on particular project, they will risk money into it and not thinking of the possible red flags.
Aside from newbies, ignorant investors are the ones who are falling to scams easily. What do I mean by ignorant investors? They are the ones who are just ignoring the advices of other people. These are people who don't care about what happen to them but they will just invest into projects they believe they will get high profit. Ignorant and newbie investors are the same - same that they are the ones who are falling into scams easily
. Well, these ignorant and newbie investors will not learn if they will not experience it so sometimes, experiencing getting scammed even once would be beneficial to the investor. What's wrong is that they already got scammed once and after that, they got scammed again like they didn't learn to their past experience.
Sometimes these people don't do proper research before venturing to invest in Crypto, sometimes they see just see some site that tells you invest in Crypto and make 100% profit, they just jump in without asking the right questions and talking to the right people. It is greed to think that way at this time. Before investing in any business you mast carry out you study to know if your money will be safe or not.
We can't change their mindset as to whether we like it or not, the truth will prevail and these greedy people will become hungry for money and get fooled easily by this scam trick.However, a person who will consider their mistake as a tool to become right and become successful will somehow change and take action to correct these things. But for those who keep arguing and still believing themselves and their decision was right, they will just fail and no way they went successful.
Sometimes these people don't do proper research before venturing to invest in Crypto, sometimes they see just see some site that tells you invest in Crypto and make 100% profit, they just jump in without asking the right questions and talking to the right people. It is greed to think that way at this time. Before investing in any business you mast carry out you study to know if your money will be safe or not.
Most of then get scammed because they don't really understand what cryptocurrency is all about, they get brainwashed by people and they also invest their money and they get scammed. Most of them think cryptocurrency is just all about investing your money and you will be in good profit immediately which is wrong. Most ponzi scheme will ask you to invest and they will use your money to trade and they will give you return either every hour, everyday or every month and they also get deceived and they invest, after investing their money is gone. I believe people don't really understand what cryptocurrency is all about that's why they get scammed easily.
Sometimes most newbies get introduced by greedy investors and the make them have this notion that crypto is a get rich quick scheme so the try to find all means to catch up with the trend. Nothing good is so each to achieve. Good proceed is a process of time, passion and devotion. Scammers take advantage of three things
- Greed
- Lack of Knowledge
- Impatience
Man investor don't tell newbies who they mentor what they need to hear. Some investors will only talk about the importance and benefit of cryptocurrency so that they can have more followers who will always look for their articles or videos. But they failed to let newbies know about the risk that are involved in cryptocurrency, and to tell them cryptocurrency is not a money making rich scheme.
Let me guess, it's because they are newbies?
Sometimes most newbies get introduced by greedy investors and the make them have this notion that crypto is a get rich quick scheme so the try to find all means to catch up with the trend. Nothing good is so each to achieve. Good proceed is a process of time, passion and devotion. Scammers take advantage of three things
- Greed
- Lack of Knowledge
- Impatience
The believe of some people is that once you start cryptocurrency you will start earning money immediately and this make them to be subjected to scammers. Things in crypto has changed not like before that it was easy to get the administration work.
My advice for the newbie is for them to calm down and be ready to learn. They should allow someone to mentor So that they too can become an expert
My advice for the newbie is for them to calm down and be ready to learn. They should allow someone to mentor So that they too can become an expert
Most newbies fall into scams due to greedy behavior. And of course, the intention to become rich overnight is a part of greedy behavior. Newbies think they would be a millionaire from crypto very easily which isn't true always though sometimes happens. We need to change our minds, need patience and be realistic. Crypto can make you rich and also poor as well. It depends on many things. Holding is the best policy to make money from crypto but there are always limits. If you do not release your Holding during the full bull run and cry again in a bear market then no one could help. So timing is matter here. Need to learn as much as possible, sadly we learn always after losing money.
Yeah, the majority of newbies fall into scams due to greed and ignorance, and my favorite advice to newbies: "If you don't know where to start, you don't know enough."
Most newbies who are trying to get into crypto think that they are too smart for the game. They believe that they would be successful in crypto because they've heard some stories of successful people who became rich using crypto and not conventional financial investments. They think that by simply buying random shitcoins on the market they will get their fortune. Which, of course, is very far from the truth.
Most newbies fall into scams due to greedy behavior. And of course, the intention to become rich overnight is a part of greedy behavior. Newbies think they would be a millionaire from crypto very easily which isn't true always though sometimes happens. We need to change our minds, need patience and be realistic. Crypto can make you rich and also poor as well. It depends on many things. Holding is the best policy to make money from crypto but there are always limits. If you do not release your Holding during the full bull run and cry again in a bear market then no one could help. So timing is matter here. Need to learn as much as possible, sadly we learn always after losing money.
...Like many of us use to say, if you can't hold for 5 years, don't hold for 5mins, and if you can't bear -28%, don't expect +28,000%. ..
Holding not every coin for such a period will provide you with a profit. It all depends on how well the investment object was determined, which is very difficult for a beginner to do on his own. In this case, instead of the expected profit, we see how the size of the investment decreases tenfold from the initial ones.
Make sure to have a long term investment plan, and while you invest and wait, you can trade actively on the side. Could be P2P or actual spot or futures/margin trading on the side to make little profits on the way up.
That's easier said than done. One can only hodl long term if one has a steady source of income and not the regular kind of invest today and then expect it to give a nice ROI overnight so one can harvest it. Another is your advice on trading. That's not an advice for newbies because trading is not an easy thing to venture into. The complexities of trading, whether spots or futures, have led so many who saw how simple it looks from far to burn their capital and went back to square one. Trading is a specialized field and should be given its due attention. Jump to: