Recently, something dangerous happened in the world of cryptocurrencies. Davinci Jeremy - the same man who became famous in 2013 for supporting Bitcoin ๐ฐ - has now started to deceive people ๐ก. Many new traders still trust his old reputation, which is why they easily fall into his traps ๐.
๐ช How he deceives new traders
It keeps launching new meme coins ๐ช๐ช and promoting them as if they are the next big opportunity. It says things like: 'If you missed Bitcoin, don't miss this!' ๐คฆโโ๏ธ. Upon hearing that, people believe the coin will soar ๐ and rush to invest their money.
๐ฎ What really happens
Once people start buying the currency, the price goes up. Then, at its peak, they suddenly sell the currency ๐ฎ โ meaning they sell all their tokens at a high price. After that, the price of the currency crashes โฌ๏ธ, leaving ordinary investors with significant losses ๐. This trick is fully known as pump and dump ๐ฃ.
๐ Why do people fall into the trap
Many beginners trust influencers more than they should. They believe that a famous person wouldn't lie. But in the world of cryptocurrency, fame doesn't always mean honesty. Scammers use their popularity to deceive people and make money quickly ๐ฌ.
๐ How to stay safe
Always be cautious ๐. Don't trust anyone blindly โ even if they are a celebrity ๐. Always do your own research (DYOR) ๐.
Check:
Is the project real?
Are the developers honest?
Is the team transparent?
If someone promises you 'guaranteed profits' or says 'this is the next Bitcoin' ๐ง โ that's a big red flag ๐ฉ.
๐ Final advice
The world of cryptocurrency is filled with opportunities, but it is also filled with traps. Be careful, protect your money ๐ช๐ฐ, and invest wisely ๐ต๐. Don't let scammers exploit your dreams.
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