To every crypto individual, there is always a part of us that gives us that nudge when it seems like something is about to go amiss as regards any crypto project. What happens most times is that we do not listen to our instincts. The human instinct is a tool that serves as a compass to whatever the mind is trying to go into at any giving time.
You may not understand that you are more than connected to your instinct even more than your cell phone network provider. What makes the difference between Mr A and B is the ability to listen and understand. Living a life without being connected to your instinct is the worse form of living and if care is not taken you will always fall victim to ugly circumstances.
Recently I have been talking about crypto and its prospects not forgetting its losses too. You know we cannot talk about anything that deals with money without also looking at its bad sides. As I have stated in my previous posts that the crypto space is where someone can turn into a millionaire within a twinkle of an eye don’t feel bad if I tell you that you can also go broke just before you can spell Jack.
Permit me to say that it is a crazy world when it comes to crypto space. Whenever you make a successful trade or transaction that yielded go returns, just be grateful to God for giving you the ability to do so because a whole lot of others lose their hard-earned money in such transactions. With that been said, let me go straight to the matter at hand.
Have you ever found yourself standing on a rug or a carpet with your whole mind feeling very confident that you are safe only for someone to pull the rug or the carpet off from your fit without any notice? If you have experienced such a thing then I presume you will understand this crypto term know as Rug Pull.
First I must tell you that every crypto dealer or trader is always on the edge or afraid because of this rug pull. Once there is a new project in the market, everyone is anticipating a pump or dump as the case may be and it is at this stage that people will go into researches on the given project to make sure that they don’t buy into it only for the creator or developer of the project to rug pull.
Let me try and give a little explanation to what rug pull means even though I have used the illustration above but for the benefit of those who may not have had such experience, rug pull happens when the crypto project owner suddenly removes the liquidity backing the project after a lot of transactions has happened without any information leaving those who have invested their money with nothing other than a shit coin which may never come back to life again.
For the project owner, it is one thing to create a project and it is another thing to nurture the project to success but for every investor, it is one thing to see a project and then it is another thing to research very well about the project.
Most times what happens to us is that we get too greedy and this greed takes over our instinct leaving us vulnerable in the hands of these crypto project scammers. My candid advice to everyone reading this article is that you must try as much as possible not to allow greed to come into your heart whenever you are considering buying into a project.
Even though I understand that every businessman thinks of profit first but that does not mean that you should close your mind to the risks involved in the business. Have you had about the word SMART? This is a word that should resonate in the hearts of every crypto dealer instead of greed. Being smart in dealings will get you far away from scammers and it will make you always think safety first before profit.
Now, I told you about the miracle of crypto in my previous post but today, I am here to let you that if you do not do your research very well, you will always be on the losing side. I told us about the airdrop I got some time last year and how it got some value just last two days but can you imagine that the project has rugged?
I have a lot of people who were busy waiting for it to get to either above $70 or more and this made them not to sale when it got above $50 and now they are carrying because the token has become worthless. How do you think you can forgive yourself if you lost such an opportunity because you allowed greed to take a better part of you? It was very glaring that the project was not genuine but they still held on to it hoping that it will get to the moon.
This is where being smart comes into play. Do not take anything for granted. Once you see anything fishy about a project, do not try to convince yourself that all is well rather do what you can to get out while you still can without losing your funds. If you are looking for a project to invest in, I will recommend you try BCH
and 1UP
but don’t forget that this is not a piece of business advice, always do your research to be sure about whatever you must have been told. Trade wisely.
