Without having more data about the project, the opportunity to get a scam will greater, and the most exceedingly terrible thing that we can get is losing the cash.
We are pulled in to the project as a result of the promising of the groups said that their project would have a brilliant future, yet the truth of the matter is they never run their project genuinely.
Topic: Why lots of people got scam easily - page 24. (Read 5655 times)
A lot of people got scammed because of not doing their own research... They are just impulsive to invest because of peer pressure or seeing other people invest to it... Doing without even researching if the project is worth enough to spend with... That's why a lot of investors especially newbies lost a lot of funds... So better if we can help them, educate them first the pro and cons about investing in crypto projects... Let's help and educate them...
three points you mentioned are very good and that is indeed what often happens to people who are investing but the most punched in my opinion is "Greed" and they are lazy to read so they are easily fooled
Greediness! That is the only word that comes into my mind on why people get easily scammed by those people who want to suck money and do not work hard for it. In every industry that have investments or let us say, work, or anything when people are too greedy, nothing will happen and even in bounty, too many hunters are being played by campaigns by putting large amount in their thread while after which they will lower the amount. That is just an example of it
legendary
Activity: 2716
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
Stupidity is one of the first reasons. How man "send X amount of bitcoin and I will send X amount back". Really people fell for this lol. Countless other scams that could be stabed off by just using a little street smarts. The old adage is true more than ever "if it seems to good to be true....than it is".
people who are often interested in this flow are those who are greedy. I think people will feel weird about projects like HYIP. people might not think that it really is real, that profits will be increased by a few percents for certain investments. however, they would find it strange, only that it was defeated by their greed. we must control our greed, buddy. 
That's a good list and the reality of it as well. Starting with no knowledge of the project, they tend to invest is as a result of hype which has already blinded them from seeking for more knowledge. Most new projects are good in creating hype and once done perfectly they will attract the gullible users. From lack of knowledge leads to users trusting the review of others or experts more than anything thus even to the extent of being greedy to invest all their savings.
Stupidity is one of the first reasons. How man "send X amount of bitcoin and I will send X amount back". Really people fell for this lol. Countless other scams that could be stabed off by just using a little street smarts. The old adage is true more than ever "if it seems to good to be true....than it is".
Yeah I don't understand why people think that someone will give them more money in return. I always block such a person.
Stupidity is one of the first reasons. How man "send X amount of bitcoin and I will send X amount back". Really people fell for this lol. Countless other scams that could be stabed off by just using a little street smarts. The old adage is true more than ever "if it seems to good to be true....than it is".
many people believe too much about what is said in the whitepaper or people who want to get profit from referrals (upline) because I have experienced it myself, it is a faux pas that is normal for a beginner in investment, it takes time for him to know how to not fall in the same hole
this is my way to avoid scam projects
1. I see from the look of the website (I am a website developer so I know whether they bought the script or made their own website)
2. SSL on the website
3. See if the project is possible to be realized
4. See their team if anyone has ever joined a scam project
5. Seeing project partners and checking whether they are partners or not
6. Look at the roadmap
7. If he is implementing IEO on large exchangers such as binance etc. the possibility of a scam is very small (in this case we can go through steps 1-5)
I hope this can be very helpful
this is my way to avoid scam projects
1. I see from the look of the website (I am a website developer so I know whether they bought the script or made their own website)
2. SSL on the website
3. See if the project is possible to be realized
4. See their team if anyone has ever joined a scam project
5. Seeing project partners and checking whether they are partners or not
6. Look at the roadmap
7. If he is implementing IEO on large exchangers such as binance etc. the possibility of a scam is very small (in this case we can go through steps 1-5)
I hope this can be very helpful
Yes. These are the main reasons we can say to fall into scam project. A separate analysis from ourselves is required to do extensive research before investing in any project.
Nowadays, even if a project is legit, there are chances that the project may get failed due to not raising enough funds.
To avoid this or to at least stop loss, we should invest in multiple projects and not in single project.
Also, the investment amount should be such that we can afford it if we lost the complete amount.
Nowadays, even if a project is legit, there are chances that the project may get failed due to not raising enough funds.
To avoid this or to at least stop loss, we should invest in multiple projects and not in single project.
Also, the investment amount should be such that we can afford it if we lost the complete amount.
1 and 2 is the most that's affecting much people being scammed in crypto. Most people will say they did a research but the research is nothing to know with. Greed of some investors virtually make some loose all the capital.
That is true, but with IEO this days, projects become less scam, and more trusted
Less scam you said? Do not invest in IEO projects from low exchanges, you will lose your money because the project will never do very well, exchanges like p2pb2b are project killer, invest in projects from top exchanges onlyWe can't predict which one/project is good or which one bad. I have seen 90%+ projects was scam only. Few tokens are listed but trading at 90% discount. Hardly 1% project did what they promised.
For me investing in listed tokens seems bit fine compare to IEO/ICO.
Things why a person can easily get scammed in crypto-world
1. Greed
2. No knowledge about the project
3. Trust
...
1. Greed
2. No knowledge about the project
3. Trust
...
I can reason with your points, however, when it comes to knowledge of whether the project or anything, the genesis of everything is lack of proper orientation.
Now, someone is coming in here to participate in a project in whatever form but does not have any basic knowledge or what is required to identify a good project, it is certain that such can be misled. Better still, having the knowledge of what a scam could look like, whether coming from an individual or a group is another ball game.
The fact is that there are some people who have been investing for years and yet, have not had any awkward experience in the crypto space. How then has that been possible?
It is because they learnt the rudiments before engaging in anything crypto-related.
I wouldn't say easily because its not entire easy.
The best way to avoid scammers is to avoid any conversation with them because they sweet talk you until you believe them, sending you different several proofs until you are unable to find excuses not to participate in their scheme.
But if you can avoid being greedy, i think you can stay clear off scammers
The best way to avoid scammers is to avoid any conversation with them because they sweet talk you until you believe them, sending you different several proofs until you are unable to find excuses not to participate in their scheme.
But if you can avoid being greedy, i think you can stay clear off scammers
You carefully outlined it and it's the fact of what's happening even till now. I think greed comes through lack of knowledge on the project; that is, once hype sets in and the person failed to make out time to study beyond that hype to know the truth, he might be consumed by hype that he invest a lot. Trust as well is a big issue, many projects fakes many things just to make investors trust them hence the reason for proper research. Most people don't even care, once they see a partnership news or anticipated products they let down their guard.
for investors, there is a safe way to invest in projects that are already running and listed on the exchange. but for new projects, it's hard to avoid project scams. we know that projects that are newly registered in the exchange can also be a scam. like the BCNEX project, even though it's not 100% scam yet, but we can judge from the developer performance by closing withdrawals from their platform that is already strong enough evidence to judge the project as a fraud.
You carefully outlined it and it's the fact of what's happening even till now. I think greed comes through lack of knowledge on the project; that is, once hype sets in and the person failed to make out time to study beyond that hype to know the truth, he might be consumed by hype that he invest a lot. Trust as well is a big issue, many projects fakes many things just to make investors trust them hence the reason for proper research. Most people don't even care, once they see a partnership news or anticipated products they let down their guard.
The first and second is very deadly and can deal with the person mercilessly. Most people invest because of what they heard from so called experts and because its from them then there is no need to make further research. To make it worst, most people invest with everything they have all a bid to make it once forgetting that in this space projects can disappoint and experts can also be after their own gains could be they were paid to promote. Trust on the other hand is expensive and shouldn't be joked with but most tends to trust whatever the team say forgetting they are also humans and therefore can disappoint as well. The most important thing is, invest what you can afford to let go, study every project on your own and don't trust everything you hear.
Lots of people get scam easily in crypto-currency mostly due to lack of enough knowledge about the project that they have invested their money into.It is very important to make proper research about a project before making an investment to avoid been scammed and to avoid loss of their money.
More precisely the lack of experience and information about how to invest in crypto properly. Using all the money to buy or invest is the biggest mistake people make when they are interested in crypto. The same thing when people see a project and invest without analyzing it first.
No one is permanently safe from scammers and anybody can get scammed anytime, scammers use different skills to scam people and the only way to safe your neck is using your research skill, think very well before making any decision
Indeed. Even the veterans or those people that have been into using cryptocurrency since then are still prone to get scammed because as the technology rises, the techniques and skills of the scammers are also improving in which the schemes they make seems to be realistic and promising like a legible one. It is really hard to identify it with just a first glance so being educated or making yourself knowledgeable about that certain thing you wish to get engage is the most effective way possible to avoid being scammed so easily. I do believe that innocence is really the factor affecting why such group of people easily get people scammed because some people specially talking about newbies are still not knowledgeable enough about cryptocurrency that is why their weakness have been taken as an advantage of other people to scam them. This serves as a living proof that you must be knowledgeable and let yourself be informed of whatever is happening into your surroundings so that you are aware to avoid such schemes to keep yourself safe away from scams. Controlling your emotions like greediness is also relevant to avoid being scammed so easily.
Jump to: