Quote from: Finestream on January 04, 2023, 11:58:45 PM

Quote from: Jentle on January 03, 2023, 04:56:02 AM

Often as a newbie, when you see a new project you are tempted to invest in it. Why I agree that not all new projects are scam, always ensure that you do your own research before putting your hard earn money into a project, otherwise you will wake up to discover that the devs have disappeared with your money.

I have a personal experience, a friend and a mentor told me about a new project that was looking very promising, he advised that I invest in it. So, I did even without doing my little investigating, not too long, the dev pulled out liquidity and that was the end of the road for the project.

So, that's how I lost my investment in that project, though I didn't put much, just about 10$, but a lost is a lost.

Please, be careful out there, the devs are not smiling
And if you must invest in a project you are not too sure of, always put something small, don't go all in, you might end up regretting.

This goes not just for newbies but definitely for all aspiring investors as investing is risky, but its even riskier if you put your hard-earned money into projects that have no real long term profiting goals. Be careful not only to devs, but on the project itself as it may look promising and very profitable at first, but the moment you put all your capital and profits in it, the project suddenly disappear just like a thin air. So be cautious and always DYOR.

The first is always to do research first and that for me is very important,
indeed when doing research it takes a lot of time but it's better like that than investing in projects that are ultimately scams,
we do our best to minimize the risk