Who are the Telegram Scammers: Protect Your Money

The allure of cryptocurrency is undeniable. Stories of overnight millionaires and life-changing returns dominate headlines, attracting new investors eager to jump on the bandwagon. But there’s a hidden danger in this digital gold rush: the deceptive world of fake signals and scam coins. They tell you to join them and get a 100% return on investment, but it’s a ploy, as most scam companies do. They sell silver for free and take gold in return, but you get rusty iron of no use in the end. Hence, knowing the difference between legitimate traders and telegram scammers is essential.

There is a famous idiom that “Greed never dies until the thief starves.” Thugs can never die of hunger when greedy people strive to accumulate more wealth. So, ask yourself: Are you greedy or an intelligent investor seeking an in-depth crypto investment analysis? But the question is, are they all scammers? The answer is no, but the majority of them are. This blog post will highlight key points for identifying fake Telegram gurus and genuine trading experts. So, stay glued.

Identifying the Traits of Telegram Scammers

The Lust for 100x Return on Investment – ROI

Social media platforms like Telegram and Discord have become hunting grounds for crypto signal providers. These individuals promise lucrative returns, often boasting success rates exceeding 100% ROI. The temptation is vital, especially for those new to the crypto market. However, these promises are a dangerous illusion designed to exploit newbies. But it will not give you anything but a loss of your well-earned money. After a few months, you will be in debt for sure. So if you spot someone selling “Manjan- the Dentifrice”, like providing you great returns for free, avoid him for your betterment.

Stop Saying Yes Interested to Scammers’ Alurring Ads. on Metaverse

Stop saying, yes, interested under the scammers’ posts. It’s like a pigeon closing its eyes in front of a predator cat or a lamb joining hands with a wolf. You know who will face dire consequences, the former ones.

Beware of crypto scammers who run ads on metaverse platforms like Facebook, Messenger, and Instagram. Ask yourself a question. We live in a world where fundamental needs like oxygen and water aren’t free. Then how do you expect someone running ads (which cost them bucks) to help you? Are they doing charity? As the former Pakistani Prime Minister Imran Khan says, Absolutely Not.

You Do Not Lose When You Bet on Both Sides: Exposing Telegram Scammers

Imagine you are a cricket fan, and a T20I World Cup match in the famous New York stadium in the United States is going on between the arch-rivals India and Pakistan. You bet on both India and Pakistan. Or let’s switch our focus towards football or, what the Americans say Soccer! El-classico between Real Madrid and FC Barcelona, and you bet 50% of your wealth on Real Madrid and the remaining on FC Barcelona. In the end, you might not gain anything, but if you have two social media channels, like Youtube and TikTok, you can post betting signals on either. You delete the signal that was proved wrong and keep the other one that will be correct, anyway. 

This is how many crypto signal providers tout impressive win rates, claiming to have predicted market movements with uncanny accuracy. However, a closer look reveals a disturbing truth. A coin that randomly goes up or down 50% of the time is not a testament to a skilled signal provider; it simply reflects market volatility, and anybody can guess the market’s behaviour, either bullish or bearish.

So here’s why a 50% win rate is a major red flag, and you should keep an eye on their track record as signals providers:

• Market Volatility, Not Skill: The cryptocurrency market is notoriously volatile. Short-term price swings are often a result of broader market forces, not any specific signal provider’s insight. A coin could just as quickly go up 50% without any signal.
• Confirmation Bias: Some signal providers employ a deceptive tactic of selectively showcasing their “winning” calls and conveniently deleting the losing ones. This creates the illusion of a flawless track record, manipulating investors into believing their expertise.

How To Identify Best Signal Providers

Not a One Man’s Job: Team of Crypto Trading Experts

Crypto trading primarily requires crypto analysts, expert researchers, data analysts, statisticians and people with futuristic eyes on day-to-day trading insights. If someone comes to you and he/she does not have a diversified portfolio, then it’s a red flag. The honest advice you can take is to please stay away from him. The actual best signal providers don’t say to buy this coin.

They always talk about the growing potential of the coin. They never claim that this coin will grow, let’s say, 100x in 30 days because even the owner of the coin can’t make such claims. Their trading strength lies in the team-assigned tasks and a vast technical and diverse portfolio. First, they invest in coins they trust and then suggest or advise their audience.

Experts Establish Audience: Telegram Scammers Seek Personal Benefits

They don’t require a mere 10$ subscription from you. They ask for a trust. This way, they aim to establish a strong bond on various social media platforms, like Facebook, YouTube, and even X and TikTok. They have a solid plan to grow their legitimate audience, and there is no way they would want to lose people’s trust by selling fake and hyped signals for scam coins. 

Crypto Experts Means Business: Quality Over Quantity Any Day

They ask to invest in a maximum of 3-4 coins, and they research about coins that could potentially grow, and their predictions can never be time-limited. Moreover, they don’t state that their prediction will work 100%. They never make such claims. 

Identify Scam Coins to Save Your Investments

A Staggering Statistic: 80% of ICOs Fail

According to a CoinMarketCap report, 80% of Initial Coin Offerings (ICOs) fail within the first year.  This statistic highlights the prevalence of scam coins in the crypto space.  Fraudulent projects often leverage fake signals to create artificial hype and inflate their price before collapsing, leaving investors with empty wallets.

The STRK Scam: A Case Study in Deceptive Hype

Let’s delve into a real-world example to illustrate the tactics used by unscrupulous actors. The STRK coin launch is a cautionary tale of how fake signals and scam coins operate.

Red Flags Galore: Why STRK Was a Recipe for Disaster

In the case of STRK, several red flags should have immediately raised suspicion:

• Non-existent Product: STRK lacked a functional product or service, a crucial element for any legitimate project.
• Massive Token Supply: The total supply of STRK tokens was incredibly high, indicating a potential dilution of value for investors.
• Concentrated Liquidity: The developers controlled a significant portion of STRK’s liquidity pool. This control allowed them to manipulate the price and potentially dump their holdings on unsuspecting investors.

Despite these red flags, many crypto influencers aggressively promoted STRK, promising astronomical gains. This tactic is known as “shilling” and is often employed to inflate a coin’s price for personal gain artificially.

The Predictable Downfall: When Hype Meets Reality

As predicted by those who saw through the deception, the price of STRK predictably plummeted after the initial hype subsided.  Investors who blindly followed the fake signals suffered significant losses.

Deception After the Fact: The Charade Continues

Following the STRK collapse, the same influencers who previously promoted the coin conveniently shifted their narrative. They claimed to have warned investors about the risks, conveniently forgetting their earlier bullish calls. This tactic further attempts to manipulate public perception and potentially avoid accountability.

The Multi-Channel Trick: How Influencers Fool You

Another tactic some bad actors use involves creating multiple social media channels with conflicting signals. Here’s how it works:

• Spreading Disinformation: They promote opposing buy and sell signals on different channels. When one call is “correct,” they delete the losing one and claim a perfect track record. In this way, fake telegram gurus exploit the market and fool people.

This deceptive practice makes it difficult for investors to discern genuine signals from fabricated ones.

The Human Cost: Why Fake Signals Matter

The consequences of fake signals and scam coins extend beyond financial losses. These deceptive practices erode trust in the cryptocurrency market, discouraging legitimate investors and hindering its growth potential. Furthermore, the emotional toll for those who lose money due to fake signals can be significant. Hence, identifying telegram gurus is more logical as we must protect the investors as they run the crypto market.

Top 8 Pro Tips for Crypto Trading

Here are some valuable tips to safeguard your investment from fake signals and scam coins:

• Do Your Own Research (DYOR): This is the golden rule of crypto investing. Be sure to follow any signal provider or influencer. Before investing in any project, research the team, their technology, the project’s roadmap, and its overall purpose. Read whitepapers, visit the project website, and explore independent reviews from reputable sources. Do not trust the telegram gurus.
• Beware of Unrealistic Promises: If it sounds too good to be true. Cryptocurrency can be volatile and speculative, but legitimate projects focus on building long-term value. Avoid signal providers or telegram gurus influencers guaranteeing massive returns or overnight success.
• Look for Transparency: Reputable signal providers will have a clear and transparent track record. They should be upfront about their methodology and success rates. Be wary of providers who offer vague or secretive strategies.
• Focus on Fundamentals: A vital project will have a solid team with proven experience, a well-defined problem it solves, and a clear path to adoption. Don’t get caught up in hype or empty promises. Focus on the project’s underlying fundamentals before investing.
• Diversify Your Portfolio: Don’t put all your eggs in one basket. Spread your investments across different cryptocurrencies and asset classes to mitigate risk.
• Use a Trusted Exchange: Store your cryptocurrency on a secure and reputable exchange. Avoid keeping large amounts of funds on unknown or unproven platforms.
• Be Wary of Social Media Hype: Social media can be a breeding ground for misinformation and manipulation. Be critical of any information you see online, especially in unregulated forums like Telegram and Discord.
• Don’t FOMO (Fear of Missing Out): Don’t make impulsive decisions based on market hype or social media pressure. Take your time, research, and invest only what you can afford to lose. But never take signals from scammers, a.k.a fake telegram gurus.

By following these tips and taking a cautious approach, you can protect yourself from fake signals and scam coins and make informed investment decisions in cryptocurrency’s exciting but often risky world.

Conclusion

The cryptocurrency world offers immense potential but comes with inherent risks.  You can confidently navigate this dynamic landscape by educating yourself and staying vigilant. Remember, there’s no guaranteed formula for success in crypto.  However, by prioritising research, focusing on fundamentals, and avoiding the allure of quick profits, you can significantly increase your chances of making sound investment decisions.  The crypto market is constantly evolving, so stay curious, keep learning, and never stop questioning the information you encounter.  You can become a more informed and empowered crypto investor with a healthy dose of scepticism and a commitment to thorough research. It’s therefore essential to avoid fake telegram gurus to smoothly invest in crypto. Read more quality crypto-related content on Latest Web3 News.