Influencers promoting crypto content are common on platforms like Telegram, Discord, YouTube, Twitter, and Medium. Although it could appear like they are looking out for your interests, I assure you that they are not. With one objective in mind—to generate money—they distribute referral links and promote sponsored content.
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Unjust advantage
Is it therefore wrong that they want to profit from their content?
It’s acceptable if they genuinely believe in a project and are prepared to invest under the same terms as their supporters. Same circumstances means:
-investing their personal funds
-taking part in a public auction
But remember that influencers frequently possess an unfair advantage. They frequently have the opportunity to invest during presale, allowing them to enter at a price that is significantly less than the public sale’s starting bid. In other circumstances, they can get free tokens in return for spreading the word about a project.
If things don’t work out
Another thing to keep in mind is that influencers disassociate themselves from negative outcomes. I recently viewed a YouTube video by an influencer called Andy in which he performed a sponsored advertisement for the Xodus Finance enterprise. A day or so later, the project faltered during presale and made 300K off of investors.
Although Andy is not at fault for the rug pull, he profited from the project while his fans who made investments based on his video lost everything.
Promotion vs. content creation
Does this imply that an influencer cannot produce content on a project unless he funds it? Obviously not. I’ve written numerous articles regarding ventures that I either did or did not invest in, although I wouldn’t advise it to my followers.
Once an influencer tries to get someone to invest in a project for his own gain, it becomes unethical.
I often ask myself if I would suggest a buddy of mine to invest in this venture. If the response is no, I won’t suggest it to you either and I won’t provide a link.
Conclusion
Sincere to say, I find it simple to distinguish between right and wrong. Since I’m not an influencer, I never get requests to participate in paid advertising. When there is a chance to make a quick profit, doing the right thing is much more challenging.
What I want you to remember from this article’s is to never trust an influencer blindly.
Influencers frequently think two steps ahead of you, and by the time you make your investment, they may have already made five to ten times what they first invested. Because of this, it’s crucial to constantly conduct your own research and to only invest in causes you firmly believe in.
Remember to Report all your scam experience to us, in order to get a refund.