I would unite all your conclusions under one single thesis - Lack of knowledge. Knowledge is gained through experience, so inexperienced people are more likely to trust promises.
Greed is also affected by a lack of knowledge. Therefore, the most important quality that people need to be instilled so that they are less prone to cheating is the desire to receive knowledge from more experienced users.
We, in turn, should share our experience with people, which will increase the resistance of the community to scam.
Topic: Why lots of people got scam easily - page 42. (Read 5646 times)
I agree, a lot of people enter the crypto market because of either FOMO or their desire to earn a lot of money. They don't know, lack of knowledge about the market can get you scammed or even lose your money. It is better to understand about crypto forst before getting your self involved to it. Most people who gets scammed are newbies.
That is true, but with IEO this days, projects become less scam, and more trusted
This is the main objective of the IEO but in reality, Exchange doesn't care about the project development after IEO. So basically you put your trust in exchange decision making and once failed which might happen since human error is always possible then investors face major risk since most of them will invest huge chunk of money because if there trust. I will give some examples, CelerX launch on binance launchpad, They have successful IEO and look now what happened on the project and the token valuation. Those investors that still hodling suffer from huge less.
But we can't deny that IEO is much safer than ICO but still a risky investment compared to what they are claiming.
Binance launchpad is hot on the eyes for some investors or traders who wants to earn a quick bucks, since every project they launched got so much hype and help the price of the coin to rise but at the end of the day they just became the same project that was conducted their IEO on other exchanges. Then those who participate start complaining in the team when in fact it's their own fault for not doing their own research at the first place.
I agree with number two. We don't search for details about the project, and we only invest with them. Without having more information about the project, the chance to get a scam will bigger, and the worst thing that we can get is losing the money. We are attracted to the project because of the promising of the teams said that their project would have a bright future, but the fact is they never run their project seriously. With many people invest in them, they can get a lot of money, so then they can run away from the project.
Those affected by scams only think about big profits with the money they have
and don't think about risk before they invest on crypto, and also not careful before investing whether the project is real or scam
and don't think about risk before they invest on crypto, and also not careful before investing whether the project is real or scam
I believe that there is another reason that is much more important and it is the laziness. A lot of investors are simply too lazy to check everything and want to increase their capital within 24 hours, such an attitude is nothing more than gambling.
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That is true, but with IEO this days, projects become less scam, and more trusted
This is the main objective of the IEO but in reality, Exchange doesn't care about the project development after IEO. So basically you put your trust in exchange decision making and once failed which might happen since human error is always possible then investors face major risk since most of them will invest huge chunk of money because if there trust. I will give some examples, CelerX launch on binance launchpad, They have successful IEO and look now what happened on the project and the token valuation. Those investors that still hodling suffer from huge less.
But we can't deny that IEO is much safer than ICO but still a risky investment compared to what they are claiming.
Things why a person can easily get scammed in crypto-world
1. Greed
2. No knowledge about the project
3. Trust
This are the three main reason why they get easily scam
Greed, because there are a lot of promise by the campaign and the developer we easily believe that its true
investing a lot of money in the project that is garbage.
No knowledge also is the second reason because of the trend they just go and invest without any knowledge of the said project
Trust because they trust the people in the project which sometimes pretends that the person is a member of the project
they can easily decieved that once they invest , they will soon find out that the person is just impersonating , and not really
what all expected.
1. Greed
2. No knowledge about the project
3. Trust
This are the three main reason why they get easily scam
Greed, because there are a lot of promise by the campaign and the developer we easily believe that its true
investing a lot of money in the project that is garbage.
No knowledge also is the second reason because of the trend they just go and invest without any knowledge of the said project
Trust because they trust the people in the project which sometimes pretends that the person is a member of the project
they can easily decieved that once they invest , they will soon find out that the person is just impersonating , and not really
what all expected.
You are right, what is most appealing in the project is their x5-x10 promises return of investment and the investors who are very greedy will surely take the bait. But in this case, only the newly investors will only fall to this kind of tactics.
Because the professional or the experience investors will make sure to dig first the project before deciding to invest. Some projects will also being hype, so it's better that you should also stay away from this kind of tactics. Lastly before investing, make sure that you know well the project and you have a better chance of gaining a profit once their coins/tokens will reach the exchange.
We have been educated and taught to trust and not to question anything: that's why we fall into pitfalls that easily cheat us.
Scamers have been around for a long time and still exist today and someone can easily get scammed in this industry because they are careless in putting their money into projects. but I often observe that someone often puts their money in because they are attracted by the lure of large investments or large investment returns when in fact such a project is a project manipulation.
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
While I agree with number 1 and number 3, it is more of number 2 that is the foremost reason why a lot of people are easily scammed. In a way, we are all greedy. We always want money. And if we already have it, we want to have more. That is basically human. It could be all right if in the process of wanting more, more research is also being done so as to make sure that the process of getting more is safe and near certain. However, it is where almost all of us fail. We do not do enough research to make sure we know the project very well before investing.
Trust is a lesser concern because it should only be a direct result of number 2 and nothing else.
Things why a person can easily get scammed in crypto-world
1. Greed
2. No knowledge about the project
3. Trust
This are the three main reason why they get easily scam
Greed, because there are a lot of promise by the campaign and the developer we easily believe that its true
investing a lot of money in the project that is garbage.
No knowledge also is the second reason because of the trend they just go and invest without any knowledge of the said project
Trust because they trust the people in the project which sometimes pretends that the person is a member of the project
they can easily decieved that once they invest , they will soon find out that the person is just impersonating , and not really
what all expected.
Not really, see we humans all have weak points and when something we most desires is been use against us its pretty hard to shake the temptation away, every crypto investors first aim is PROFIT, we want to make profit in everyway, this is what scammers use as well to lure newbies, there is no way you won't fall for scam one way or another, everyone is a victim, atleast for a first time before we become smart 1. Greed
2. No knowledge about the project
3. Trust
This are the three main reason why they get easily scam
Greed, because there are a lot of promise by the campaign and the developer we easily believe that its true
investing a lot of money in the project that is garbage.
No knowledge also is the second reason because of the trend they just go and invest without any knowledge of the said project
Trust because they trust the people in the project which sometimes pretends that the person is a member of the project
they can easily decieved that once they invest , they will soon find out that the person is just impersonating , and not really
what all expected.
Trust has long been lost, but greed is added more and more. I have repeatedly written here, until there is control over the projects and the team that creates a particular project, nothing good should be expected.
You have three good points that you have explained above, but often that happens to new investors. the first is limited knowledge that keeps them stuck in junk projects and big prizes are bait to attract market investment. and my advice is only one, never invest all your capital if you cannot return the feedback you will receive.
That is true, but with IEO this days, projects become less scam, and more trusted
To add to that, we decide too soon without making a proper research. A quick search could change our mind about the project.
Another reason that's highly applicable with me is we trust something blindly. Putting all your money is a single project however legit it may seem is always a bad idea. Don't put more than 10% of your funds in a single altcoin.
Another reason that's highly applicable with me is we trust something blindly. Putting all your money is a single project however legit it may seem is always a bad idea. Don't put more than 10% of your funds in a single altcoin.
Things why a person can easily get scammed in crypto-world
1. Greed
2. No knowledge about the project
3. Trust
This are the three main reason why they get easily scam
Greed, because there are a lot of promise by the campaign and the developer we easily believe that its true
investing a lot of money in the project that is garbage.
No knowledge also is the second reason because of the trend they just go and invest without any knowledge of the said project
Trust because they trust the people in the project which sometimes pretends that the person is a member of the project
they can easily decieved that once they invest , they will soon find out that the person is just impersonating , and not really
what all expected.
1. Greed
2. No knowledge about the project
3. Trust
This are the three main reason why they get easily scam
Greed, because there are a lot of promise by the campaign and the developer we easily believe that its true
investing a lot of money in the project that is garbage.
No knowledge also is the second reason because of the trend they just go and invest without any knowledge of the said project
Trust because they trust the people in the project which sometimes pretends that the person is a member of the project
they can easily decieved that once they invest , they will soon find out that the person is just impersonating , and not really
what all expected.
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