Ever since started trading, I have always done research on which cryptocurrency I will invest part of my money in. In 2016, everything was different. There were very few projects available. The vast majority of projects were successful, and there were no problems with Rug Pull.

There were quite a few of us in ICO investments, according to statistics, the investors were people who strongly believed in Bitcoin before, gamers, and people who did not believe in government organizations. Therefore, marketing new ICOs was fairly easy. It was all about trust and faith in the project. The people who invested in a particular project believed so strongly in the project that we recommended it to our friends and promoted it across all of their social networks for free. Our reward was that the more people who decided to invest in the project, the faster the coin grew in the market, consequently, your investment was worth more. A typical law of cause and effect.

I have been on three projects that have succeeded in such a simple way. We opened a Twitter account, the team opened LinkedIn accounts if no one had them before, we did SEO, Youtube channels, and voila, pre-sales were soon filled, projects came to life. And most tolerant people made a small fortune in the crypto world. There were few of us, everything was in its infancy.

ICOs who did not have enough audiences to fill Presale contacted large profiles to help promote their project to their audience, and consequently filled Presale in exchange for the Token the company has. Certain profiles accepted this and promoted the project because they believed in them. And the project was a success.

Over the years, things slowly began to turn very differently. It has become available that a person who had no idea about cryptocurrencies and cryptography or programming can now make their coin through the website in practically 60 seconds. Without any knowledge. Big scams started. From ICO scams themselves to scams by Influencers. Certain profiles on Twitter and Discord began to take the matter in their way.

So-called influencers began to promote on their social networks from SCAM coins to real projects. They no longer cared what and how it is promoted. All that mattered to them was paying in the top 30 cryptocurrencies at CMC for amazing prices. Certain profiles were ready without a question about the project, without a review, promote a project in which they don’t even believe.

Problems can arise on two sides. If an ICO that has started a coin in good faith approaches such an influencer has to pay $ 20,000 to $ 40,000 for 3 Tweets, definitely not every ICO can afford it. This is totally at odds with Satoshi Nakamoto’s logic, as there was no greed in his vision.

On the other hand, such profiles can come to someone with real money willing to invest for an influencer, but doing the theft from the ICO itself and thus harming all the small investors who blindly trusted the man who followed him on social networks.

That’s why a young trader rarely finds a good project on social media because you never know what you’ll get when you invest in a particular cryptocurrency. Who believed in the project?

Young Traders, it is up to you to do research, do research yourself, from Influencers to ICOs, as well as to disperse the project you believe in wherever possible and with thereby ensuring the success of you and others.

Writer:

Twitter @Captiancrypto0

Website: worldcryptolottery.io

Project Twitter: @WclToken

Telegram: t.me/worldcryptolotteryio

Join Coinmonks Telegram Channel and Youtube Channel learn about crypto trading and investing