S4B Crypto Contest - Season 21
Salam hope so all will be fine today am participant of contest this contest organized by @waqarahmadshah today am the article to about some comonly to the cryptocurrencys to the scamers to that every investores on the shoulds to be awaring with the quicklly on growth of crypto marketing to scams like transportes & mess schemes to rug pulls & fake cryptocurrency to promotions on social media are unfortunatelly becomes to more commons.
How do pump-and-dump schemes work in cryptocurrency markets?
A pump & dump happens to when a group forcing to expanding the price of a coin by increasess on a false informations. As the pricess to rising to they sell their coins at a profitts to leaving other on a stuck with worthlles tokens once the price crashing. To avoid this do not on a rush into investment basing to on hype alone. when the lways researching to the projects on a exhaustivelies.
What is a rug pull in crypto, and how can investors avoid it?
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A rug pulls is when on the developing of a crypto projects on a suddenlly desert it taking investors on funds. Its common in decentralised finance (DeFi) projects to where developers making excitement to only the withdraw with the money. To the intercept come down victim to this on always check if the project is examine & if the team behind it is transparents.
How do scammers use social media to promote fake crypto projects?
The scammers to use social media to promoting on fake cryptocurrency to the projects. They making hype with false news or supporting to making in the investores. to always verifying to the legitimasy of any projecting to you hear about online & avoids on the investing basing on influencers to promotions alone.
Have you ever been scammed in crypto? If so, what happened and what did you learn from the experience?
While I have not on the personally been scamming to i have on seen others fall into these of traps. The bigest to the topics is always to the research and avoids on acting out of fear of missing out (FOMO).
Crypto can be profiting but one can still lose out. I like the advice you gave that one should not be in a hurry to invest based on the hyping. Nice post.