Not only that, but they are always the ones going around and passing advice like candy bars to people outside the market who will think they are being blessed with good advice when it’s really just random crap. Beware these people, a real trader understands the risks involved and will almost always advise you to take it slow and easy rather than heavy and hard.
At the end of the day, your best option is to research better. And in an ideal way, everyone would research their own ideas rather than ingesting from the hivemind of crypto social media. Always double check what you hear, and always think twice before buying anything.
Usually there are tell-tale signs of bad ideas, look for them. If your crypto project is looking like a pyramid scheme, then it probably is. If it offers more interest than what you think is feasible double check it? When I heard about the APY’s over from staking DeFi in Lycan I had to double check to make sure everything cleared out, and it did, thankfully. This is what you should be doing too, don’t take my word for it, and always double check your data.
One person could lie and deceive you, but multiple opinions will always keep you safe. Always get another opinion, always learn and more importantly, listen. Listen to what other people have to say, watch for how they react when you parrot ideas to them. Not everyone is out there to hurt you, but some people are.
At the end of day, it all comes back to you. The worst project can only hurt you if you choose to keep up with it, and if you choose to actively ignore it, it can’t hurt you.