Scams can mislead the opinion on crypto

They say that more than 97 percent of the crypto projects are Ponzi schemes and scams. We know how fast this industry is growing and how many opportunities are created everywhere. I keep getting a lot of job opportunities in the blockchain world as a blockchain engineer. But not all the opportunities are good because some people do not know what they are doing but still want to be a part of the blockchain industry. Their product may not even need a blockchain but they still want to use blockchain in the project.

Nobody gives you free money

The most common scam that we can see on twitter and other social media platforms is the giveaways. People who are new to cryptocurrencies get trapped on this. I have a few friends who lost money on these scams. I have talked about this a couple of times in the past. Nobody gives you free money. If they are giving some free money, they expect something reasonable out of us. This is something we have to understand.

Source

The scammers usually distribute some tokens to some people and say that the tokens will be valued very high and to claim the reward they have to pay X amount of money in the form of some crypto. This way they earn crypto from many people who are ready to fall into the trap. I understand that there are a few projects that might genuinely give some tokens or coins as giveaways for the sake of marketing and campaigning. But the percentage is very small and the free money that we get will also be a very small value.

People think that crypto is always bad

As it is very common to see a lot of scam projects in the crypto world, people have a generic opinion that the crypto world itself is full of scams and there is nothing good about it. Some people lose interest and they don't even want to explore further. Some people though they are very careful about their investments here, start spreading some false messages outside. There is a general opinion that crypto itself is gambling and there is nothing good about it. If I interact with someone in the real world about crypto, they think it is illegal and is also gambling. It is very hard to make them understand.

The main reason is because there are so many scam projects that try to grab money from ordinary people. People who would like to look for an additional earning opportunity might lose their money here and end up thinking that crypto is completely bad. Maybe we can say that crypto is still not a thing for a very common man. At least some basic understanding is required to deal with crypto. Otherwise, people will lose their hard-earned money here out of curiosity.

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