The influencer trading scam
Many people enter the crypto world because they see a video of some influencer with a flashy car and millionaire vibes, claiming they make absurd figures.
These are scammers with edited photos and fake transactions, just like those apps that have a roulette wheel, including Binance's monthly mission roulette, which always lands on the pull. As a programmer, I know you can rig a roulette to hit the pull 99% of the time, with the other 1% distributed among the rest, leaving the max payout box at 0.0001% probability.
Those who jumped into trading because it's trendy won’t achieve much, as it requires analysis, independent study, and watching how that crypto evolves—how it moves across different time intervals. You have to take risks because many times you lose, especially at the start while learning to read the candlestick chart. Then, like everything in life, the losses decrease, and you start compensating for those losses until you achieve gains, always knowing there's a risk involved.
The most challenging and riskiest trading, but the one that yields fast profits, is futures trading. You have to analyze whether to use leverage or not. Then there's spot trading and margin trading. You should always start small, knowing you might lose it, but that’s part of the process—you learn by doing. A good approach is to spend at least a month using paper trading, so you don’t lose money while you learn.
Many people enter the crypto world because they see a video of some influencer with a flashy car and millionaire vibes, claiming they make absurd figures.
These are scammers with edited photos and fake transactions, just like those apps that have a roulette wheel, including Binance's monthly mission roulette, which always lands on the pull. As a programmer, I know you can rig a roulette to hit the pull 99% of the time, with the other 1% distributed among the rest, leaving the max payout box at 0.0001% probability.
Those who jumped into trading because it's trendy won’t achieve much, as it requires analysis, independent study, and watching how that crypto evolves—how it moves across different time intervals. You have to take risks because many times you lose, especially at the start while learning to read the candlestick chart. Then, like everything in life, the losses decrease, and you start compensating for those losses until you achieve gains, always knowing there's a risk involved.
The most challenging and riskiest trading, but the one that yields fast profits, is futures trading. You have to analyze whether to use leverage or not. Then there's spot trading and margin trading. You should always start small, knowing you might lose it, but that’s part of the process—you learn by doing. A good approach is to spend at least a month using paper trading, so you don’t lose money while you learn.