some days ago i discovered that my friend also invest in bitcoin and not have much knowledge about bitcoin, he just invested in it recently for doubling his money.
It’s better you advice your friend that bitcoin is not a Ponzi scheme where you Will invest and your money will be doubled, he should be careful because most people that are really desperate to make profits without knowing about bitcoin are the once’s that do easily fall for Ponzi schemes, after they have been scammed, they will end up blaming bitcoin, not knowing they didn’t invest in bitcoin, the invested in Ponzi scheme.
Then i told him about what is bitcoin and how it's work, suggested some youtube channel to learn from but, he also did like many people do in greed of making fast and easy money and invest whatever coin is down(cheap) or trending.
I won’t recommend he watches YouTube videos alone, most YouTube videos will just focus on profits, they don’t real talk about lose which is really misleading people, most newbies will end up thinking bitcoin is just about profits, if you invest in bitcoin you are already in good profit which is wrong, if you invest in bitcoin, don’t be surprise you might even be in lose immediately. If he will be watching YouTube videos, he should know their will be lose, bitcoin is not a get rich quick scheme.
but after some days he came across a youtube video, video was live about tesla and elon musk giving away millions in bitcoin, the scam is like this: send 0.01 btc and get 0.02 btc back. I previously told him don't send crypto and there are many scams, but he didn't followed it and sent some amount of bitcoin and after some hours he realized that it was a scam!
I always find it interesting whenever I advise someone and he/she those not listen and things goes wrong. I don’t trust most of the videos I see on YouTube, but the pattern which they used to scam him is kind of cheap, why will you send someone 0.01btc and you will be expecting 0.02btc without doing anything, the pattern is very cheap but people will still fall for it most especially newbies that think bitcoin will just double any amount you invested.
the question is how can we try to save newbie's from scams in crypto verse, we and many youtuber are saying that don't send bitcoins, there are many scams, etc. or we should not tell and left them to learn the lesson in hard way, I already listened many people those are in crypto for a while they said many things like don't be greedy, stay away from free crypto, etc. but i just listened and not applied and got scamed one time.
We should try our possible best to at least advice then on how to stay protected from scammers, but we all know no matter what you tell some people they won’t listen, if the person refuses to listen then it’s better you leave them so that they will learn it in hard way.