Basically any suggestion, opinion,.advise, prediction spread on the media from individuals or outlets with lots of skepticism.
People mostly act in there self interest and shilling a project might be in the interest of the YouTuber, but not favour you.
Most times the hype they create can mask the product behind the project and give early investors ROI. That's why they do not lose credibility as easily.
Topic: Why you should trade reviews of crypto YouTubers with caution - page 2. (Read 409 times)
The same applies to ANY famous influencer out there, from game tester to movie reviews and of course crypto projects, too. None of them is doing this for free, its just another form of advertising.
To be truth reviews are for sale and reviewer not putting disclaimer also that they get paid for the review
https://www.reuters.com/article/us-crypto-currencies-promoters-specialre/special-report-little-known-to-many-investors-cryptocurrency-reviews-are-for-sale-idUSKCN1NW17S
https://www.reuters.com/article/us-crypto-currencies-promoters-specialre/special-report-little-known-to-many-investors-cryptocurrency-reviews-are-for-sale-idUSKCN1NW17S
Same applies for crypto Twitter or any Crypto (and non) Influencer in General to be honest
Of course, there are many platforms where information needs to be traded with caution. Such like Twitter and Facebook but also normal blog websites or ICO rating platforms which can be paid to rate a project better than it actually is. I personally don’t trust any YouTube video reviews. I may take an odd look at one every now and then, but I tend to be completely sceptical of any advice given. Recently on my local board, someone posted a link to a YouTube video that was bold enough to tell us which will be the top 10 crypos for 2019. I took a look, and abandoned the video halfway through, feeling that the video had no clairvoyance into 2019 at all, and was conducted by a pair of amateurs trying to get some hits on their score count. That is perhaps another category: amateurs trying to get some hits.
Good comment. The crypto bull market in late 2017 brought lots of hype speculants and new rich kiddies into crypto which were only willing to gain a fast profit. In addition, most on them were very unexperienced and their advice was not helpful at all. Lack of knowledge and hype/greed can be a very dangerous mixture.
I personally don’t trust any YouTube video reviews. I may take an odd look at one every now and then, but I tend to be completely sceptical of any advice given. Recently on my local board, someone posted a link to a YouTube video that was bold enough to tell us which will be the top 10 crypos for 2019. I took a look, and abandoned the video halfway through, feeling that the video had no clairvoyance into 2019 at all, and was conducted by a pair of amateurs trying to get some hits on their score count. That is perhaps another category: amateurs trying to get some hits.
Same applies for crypto Twitter or any Crypto (and non) Influencer in General to be honest
Crypto YouTubers are a very popular source for many ICO participants to get news for promising ICO projects. The result is a new business model of YouTubers to promote ICOs to a large number of followers. There are various channels in English but also in local languages.
Generally, you should trade all the information provided there very carefully and always doublecheck to other sources.
To give you an impression why you should trade crypto YouTubers with caution, here is why. There are different categories where the schemes can be divided in:
YouTubers getting paid directly from the project
The majority of the big YouTubers are getting paid from the project itself. The project hopes to get more investors due to this video because many followers trust in their YouTubers and believe them everything even it makes not much sense at all.
For a high payment the YouTubers will only mention positive facts and forget often to inform about risks and flaws of the project to get many followers in.
The review will most likely be a very biased one if the YouTuber gets paid.
Famous hype channels are Suppoman for example:
Would you really trust people like him?
YouTubers which try to distribute their referral link
A significant amount of YouTube videos is made on the purpose to collect money by referral-links.
Similar to the category mentioned above especially the advantages of the project are highlighted. In the description below the YouTube video you’ll always find a referral link which will lead you to the official site of the project where you can register and invest. It should be mentioned that the youtuber gets a reward if you use his link and join the project and invest, often a percentage of the amount you invest in. Therefore, the YouTuber will be interested that you join and invest in this project and review the project in a positive way.
A famous hype channel was (or still is) Trevon James, who advertised heavily for the Bitconnect Scam.
You’ll mention soon the interest of conflict between a serious analysis comparing both sides, negative and positive ones and a version of review to get you as an investor.
As a first impression these channels can be reviewed, but you should always trade the provided information with caution and never make an investment decision solely based on YouTube reviews.
It is always important to compare all available sources you find out there to consider an investment. Most YouTube videos are based on hype to get you as a new investor.
Of course, not all YouTubers are bad and everything is false information. There are a few good channels which are doing very detailed reviews and don’t support every weak ICO. It’s just important to know how ICO business on YouTube is made to avoid wrong investment decisions driven solely by hype.
What are your impressions of crypto YouTubers and your tips to avoid wrong advice?
Generally, you should trade all the information provided there very carefully and always doublecheck to other sources.
To give you an impression why you should trade crypto YouTubers with caution, here is why. There are different categories where the schemes can be divided in:
YouTubers getting paid directly from the project
The majority of the big YouTubers are getting paid from the project itself. The project hopes to get more investors due to this video because many followers trust in their YouTubers and believe them everything even it makes not much sense at all.
For a high payment the YouTubers will only mention positive facts and forget often to inform about risks and flaws of the project to get many followers in.
The review will most likely be a very biased one if the YouTuber gets paid.
Famous hype channels are Suppoman for example:
Would you really trust people like him?
YouTubers which try to distribute their referral link
A significant amount of YouTube videos is made on the purpose to collect money by referral-links.
Similar to the category mentioned above especially the advantages of the project are highlighted. In the description below the YouTube video you’ll always find a referral link which will lead you to the official site of the project where you can register and invest. It should be mentioned that the youtuber gets a reward if you use his link and join the project and invest, often a percentage of the amount you invest in. Therefore, the YouTuber will be interested that you join and invest in this project and review the project in a positive way.
A famous hype channel was (or still is) Trevon James, who advertised heavily for the Bitconnect Scam.
You’ll mention soon the interest of conflict between a serious analysis comparing both sides, negative and positive ones and a version of review to get you as an investor.
As a first impression these channels can be reviewed, but you should always trade the provided information with caution and never make an investment decision solely based on YouTube reviews.
It is always important to compare all available sources you find out there to consider an investment. Most YouTube videos are based on hype to get you as a new investor.
Of course, not all YouTubers are bad and everything is false information. There are a few good channels which are doing very detailed reviews and don’t support every weak ICO. It’s just important to know how ICO business on YouTube is made to avoid wrong investment decisions driven solely by hype.
What are your impressions of crypto YouTubers and your tips to avoid wrong advice?
Jump to: