In Crypto Everything Is A Potential Scam Until It Isn’t

A crypto influencer shared an experience about how a certain crypto project reached out to hime to shill a project, this project was supposed to be a scam, or rather it was supposed to be a token with no utility but with the intentions of the devs dumping on the investors. This crypto influencer, fortunately has a conscience, chose to not fold for the money but chose his followers over the money. He rejected the offer, and moved on, this project moved on to other influencers and changed the name of the project. This project launched and fortunately became successful, it seems like the devs had a change of heart or something happened along the way and they performed over 100X and now the project is considered a gem.

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There are a lot of crypto projects that probably started like this, every crypto project you are trying to invest in or get involved in, the best advise is to look at all crypto projects as a scam, this is the reason it is advised to never invest more than you can afford to lose. You can do your research all you want, read all the whitepaper and still get rekt, this is just paper, you dont know what is happening behind the scenes. You dont know how secure the technology is, look at the case of LUNA, the chain crashed, a lot of people lost all their money, this was a chain that a lot of strongly believed in. The technology might be enticing, but one of the things that helps me trust a token or new crypto project is the utility and the backing, if their utility is nice and they are backed by reputable crypto companies or other reputable crypto companies, my trust is increased by 1. For instance, when I see Binance backing on a project, I trust the project a little, for now, finance has been backing reputable projects. They are reputable now until they are not, so you have thread every project with caution, its crypto, everything is risky.

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