LOST OVER 15,000 BILLION WHEN PARTICIPATING IN CRYPTO PROJECT ICO
I once participated and lost more than 100 million when participating in Crypto investment.
I've told this story before, but I'll tell it to those of you who don't know how to operate and avoid the same thing that happened to me.
In 2017, I participated in Bitconnect Ifan Hextra coin projects.
These are ICO projects that raise capital and follow the Ponzi model of paying interest.
Those who come later pay interest to those who come first with extremely high interest rates.
Interest 48%/month.
The starting price of iFan coin increased to 1.6 USD/iFan coin.
The longest payback period is 4 months.
Playing on the greed of participants, many pioneers called on others to participate with the tactic of "increasing 10 - 50 times within the next 2 months", or the iFan coin will be listed on the exchange.
Will trade on 3 digital currency exchanges.
Launching the internal iFan trading platform.
In particular, this group creates the illusion for participating investors that in January 2019, they will grant European Union citizenship to qualified leaders.
After collecting a large amount of money, the founding team of iFan announced that they would cancel the form of compensation as promised to investors, and instead, iFan would return investors in iFan coins at a price set by iFan. self-declared 5 USD/iFan coin, while its actual value on the free market is only 0.01 USD/iFan coin.
The damage is up to 15,000 billion VND to ask the company to return the money but it is unlikely to be recovered.
Leaving behind an extremely painful lesson from early crypto participants for many people including me.
Through that, I also learned a big lesson for myself.
Before investing in anything, you need to research carefully, avoid trusting in projects that offer huge profits, do not have a realistic business model, choose reputable exchanges to trade like Binance to avoid. Choosing exchanges that are too small to join can easily cause you to lose money.
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