And they are doing it to steal your money

Yes, I know. That sounds contradictory — to say the least — coming from a Medium crypto writer, but that doesn’t matter. I’d rather take the criticism and be called a hypocrite or something if it means I get to warn you about this type of writers.

Here’s the thing. Medium gives a platform to independent writers to express themselves, expand their audience, and share their thoughts. But not all writers have good intentions.

Especially in the cryptocurrency sector, there are many scammers promoting fraudulent platforms and schemes. They do so to pump their own bags, use you as exit liquidity, or mislead you into throwing your money on a dumpster just for a referral bonus.

I just can’t keep it to myself: that makes me sick. That’s why I wanted to write this article and tell you how to spot them.

If it’s too good to be true, it probably is…

Fortunately, there is an easy way to distinguish honest crypto writers from the shameful liars: their promises.

If someone is telling you that you can make crazy amounts of money every day orbecome a millionaire in a few months, your first reaction should be to assume they’re lying to you.

Why? Simple: if it really was that easy, then everyone would be doing it. In fact, they would be millionaires themselves, and believe me, millionaires don’t spend their days trying to scam people on the internet.

Photo by BP Miller on Unsplash

Let’s do a brief exercise, shall we? Can you tell what’s the difference between the two headlines below?

• How to turn $2,000 to $2M in one year

• 3 cryptocurrencies I believe will explode in the coming years

One of them is for an article I’ve written, and the other one is a random headline I took from a post on Medium. Can you spot the difference?

The first one is promising something virtually impossible. If there were a formula to earn 99,900% (that’s what $2K to $2M is) in a year, we would all be rich by now.

On the other hand, the second one — the one I wrote — is stating a personal opinion. “I believe” indicates that. If you read that same article, you’ll find several warnings that I’m not guaranteeing any results or profits. I’m simply stating a personal belief.

Don’t believe in promises of riches

In short, most Medium writers promising you astronomical gains is likely just trying to get you to invest in their ponzi scheme or using their referral link to some shady crypto project.

These writers will use flashy headlines to tell you what you want to hear, and once they get your attention, they’ll do anything to take your money.

Photo by Marcos Mathias on Unsplash

That’s why I’m begging you to do your own research before investing in any project — as I always say. Never fully believe what anyone on Medium — or any social media, for that matter — tells you. And that includes myself!

Instead, use the articles you read as a starting point for your research. Verify and cross-reference everything the articles say with other sources of information to see if they’re telling the truth.

This problem is why I’m starting a Quora space for everyone to ask their questions about crypto passive income, clear their doubts, and seek help. It’s free to join if you’re interested:

FIRE Crypto

Building sustainable passive income through cryptocurrency investments

firecrypto.quora.com

It takes little effort to go around the internet and research a project, but it could save you thousands of dollars. If this article saves you even $1 worth of your crypto, then my mission here is done.