I've seen people argue about how social media has been used to spread fake news about Cryptocurrency and someone even said it's killing Crypto cause lots of people have been scammed of their Cryptocurrency through links they come across on the media well my thought to that statement is that the media didn't force them to click on those links and they fell victim to scammers on the media due to ignorance or greed.
But at the same time, social media is another way that made many people millionaires through cryptocurrency today. Why they did not also consider that one is to think they are just arguing because they don’t have knowledge about the cryptocurrency.
The thing is that many people are scammed due to greed; I won’t say ignorance, because when it comes to money, as long as you are going to put your hard-earned money into such things, research should be the first thing you will do. But Many people are not doing that, Once they get convinced that they will earn a huge amount of money, they will do it, and that is how many people get scammed; it is due to greed.
You made a valid point here. Because why would someone invest in a project they have not done proper research on, they allow quick money scheme to happen to them. Social media is a useful tool for cryptocurrency, it is used to pass vital information as well as host some of these airdrops on telegram that paid off like Dogs of recent.
Social media is not to be blamed if a project goes wrong or someone gets scammed because we need social media to communicate and we also need it to research facts for ourselves. And of course scammers will keep pulling up scam projects so its best to do be sure before you engage and invest in them to avoid sad stories afterwards.