2) They promise you unrealistic returns in a short period of time
“Invest with me to get $50,000 in a week.”
“It’s easy to get rich, I got thousands of dollars! I’ll get you there too by investing $200 with me!”
In 2021, I got a lot of those messages on Instagram, telling me to invest with them to get rich. Personally, I got fed up with those kinds of things. Anything to do with money, and people promising crazy returns, I’ve turned away from them because:
- There’s no such thing as easy money in a matter of a short time without risk. If someone is promising you triple-digit gains in a few days without risk, it’s probably too good to be true. Part of entrepreneurship is lots of trials and errors. There are no investments that will deliver the kind of returns they’re talking about.
- It’s most probably meme coins or stocks, which can crash fast without anyone knowing.
If we think about all the viral coins such as squid game coin, savethekids coin, baitcoin, blueportal…..everything crashed. And before they crashed, the influencers were promoting them like crazy on Tiktok or Youtube. It showed that no one really knows what they are doing and the market is driven by sentimental investments.
So if anyone is promising you high returns, best you leave. It’s most probably scams. If you want to invest in crypto, best to invest yourself. No one knows how the market works the next day, it goes up and down on its own anyway.