Many people will try to take advantage of you especially when you are new in the crypto community. You need to be mindful of these people and avoid them at all costs.
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These could be people who use social engineering tactics to steal your money and identity. Or people who promise big returns on investments but never deliver any results.
Some try to make you buy their coins at high prices but sell them off at a loss later on. As well as people who are not as knowledgeable as they claim to be and give false advice on what coin is good or bad for investing in.
The crypto community is a large and diverse one, which means that there are many different types of people you should avoid in the community.
The following are 3 of the most common types of people you should avoid in the cryptocurrency community:
The Haters/ Trolls
These are those who come into the crypto space and social media channels to spread negativity and try to make others feel bad about investing in a particular crypto project.
Many people have been in the crypto space for a long time and are very knowledgeable about the ecosystem. However, some people are trying to take advantage of this knowledge and they should be avoided. These are those who also try to take advantage of the newbies or who use their knowledge as a weapon against others.
It is hard to tell who the influencers are in the crypto space and social media channels. It is therefore important to be aware of those who are spreading negativity and trying to make others feel bad.
You never hear from them when the market is doing well or when innovative moves are being made in the crypto ecosystem. They will only show up after a major dip or crash and try to sell you on their idea of what's going on. They might also try to take advantage of new investors by promoting their projects or ICOs that they have invested in.
These types of people should be avoided because they cause confusion, spread rumors, and can cause unnecessary panic when they promote their projects or ICOs.
The Scammers
Crypto scams are prevalent in the crypto space and it is important to know how to avoid them. It is also essential that you know who they are because they can take your money and you will never see it again.
The Scammers are those people who will try to take advantage of anyone who has not had some experience in the crypto world. They will try to steal your coins or send you a fake coin, and you won't know for sure until it's too late.
These people have been known for their aggressive advertising campaigns that are designed to deceive people into thinking that their project has a good chance of succeeding. They often use fake websites, fake addresses, and fake pictures of themselves on social media accounts. These people will make promises without any intention of delivering on them. They will also ask for money upfront before giving any product or service at all.
Some people might be tempted by the prospect of easy money. They might also have been scammed before and are now on the lookout for a way out of their predicament. Whatever your reasoning is, if you're in reading this, please avoid these people at all costs!
The Ponzi Promoters
Many people are not worth your time in the crypto space. Some of them are just trying to make a quick buck, some of them don’t have any clue about their investment, and others just want to be part of the cool kids club.
The Ponzi promoters are the people who are making their money by convincing others to invest in a certain project. They have no experience in the industry and they don't care about the projects they promote. They only care about making easy money without putting much effort into it.
Some Ponzi promoters will even take your money and run away with it. As such, it is important to be mindful of who you choose to invest in.
It is important to know what makes a good or bad investment because there is always a risk involved. It is best to do your research before making any investments and also make sure you know how much you can afford to lose.