Identifying a Potential Crypto Scam (Ethereum Max)
Don't be duped, you're too smart to be duped
I fell into crypto in 2018, made a ton of mistakes, and stayed out of the crypto-space for three years. The thing that bothered me the most was listening to different radio shows and seeing newsletters pumping up “the next Bitcoin” and other alternative coins that were “going to jump in value immensely.” I don’t want to say outright that I’m glad the SEC started targeting these scam ICOs (Initial Coin Offering), but someone needed to address the nature of scammers and criminals taking your money by convincing you that you were on the verge of the next big thing.
So, imagine how I felt when I watched the Floyd Mayweather and Logan Paul fight on Showtime a few weeks ago and saw Floyd show up to the fight with “Ethereum Max” on his trunks.
I did a little bit of research into Ethereum Max and you know what I found? I found basically nothing. No white papers, not data, nothing. What I did find was a bunch of celebrities like Kim Kardashian placing an ad on her Instagram account talking about it. So basically, my scam-alert detector went sky high.
Below is a video I found from a reputable YouTube channel giving a straight breakdown of why he doesn’t buy into this new fad with Ethereum Max.
This has all the makings of an “Exit Scam” and when Coinbase, the only reputable cryptocurrency exchange, isn’t even offering it, you should stay far, far away.
Learn more about crypto “Exit Scams” here.
At the end of the day, this isn’t financial advice and your money is your money, but don’t put it ever into anything you don’t understand or feel comfortable with.
Photo by Executium on Unsplash
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Podcasts
On The Run w/ Remso W. Martinez
The Second Print Comics Podcast
Books
Stay Away From the Libertarians!
How to Succeed in Politics (and Other Forms of Devil Worship)