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We can’t be Scammed in 2018

It was in the year 2015, When I first fall in love with Bitcoin(BTC). My heart was beating fast, i was really excited to own this money for the internet. Because I like things so i didn’t waste any time to buy BTC. The price of Bitcoin that time was sitting at $360, I bought fractions of Bitcoin from Altcoin trader and store them on Xapo wallet. Listen, I got more excited by just seeing bitcoins in my wallet.
I am a very ambitious and experimental person, so I realized my money was not growing the way it should. I started to invest in platforms that promised me high returns using Bitcoin. These platforms promised to raise my money by 30-100% in a month, so I thought no ways I’m going to put my money here and encouraged my friends to do so. After seeing what we expected to get at end of the year we begun planning for our road trip to Mozambique beach, waai, it only took 3 months before we realized we been scammed. All our dreams were crushed and I was depressed after losing so much money. Here is what I like to share with you so you can avoid being scammed in 2018:
  1. Before you invest in any coin, investment package or asset do your research thoroughly, know what’s the investment package all about, check the team behind the asset(are they reliable). Understand how this asset/investment package will  grow your money. If you can’t make sense of it don’t invest in it.
  2.  If it promises consistently high returns on daily/monthly basis, please stay away. There is no investment that will yield 100% consistently  every month, remember the markets are highly, volatile so chances of maintaining consistent returns are slim.
  3. Avoid FOMO (fear of missing out), most of  amateur investors, we got tricked to invest in things we don’t even understand. Just because they are saying, they are making lots of money on a certain investment it doesn’t mean you must invest without doing your own research.
  4. If they say recruit so you can make more money, well you know what it means. It means they will benefit more on your effort. I really don’t like business models that are purely based on recruiting the people.
In conclusion, let’s be wise and avoid being scammed. Get rich quick doesn’t work.
Photo (before meme) by Mpumelelo Macu

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