#6: Guarantees of ‘Big Returns’ Are Bullshit
Hucksters have been promising “free” and “easy” money since the dawn of hucksterism, and Web3, transformative as it’s supposed to be, hasn’t changed that.
While many scammers may promise big returns and tell you that you can’t go wrong with their product, government regulators say that those promises are bunk. Nothing is certain in life—especially not financial investments, and definitely not investments in a speculative digital coin that you just heard about two weeks ago. The FTC writes:
The value of a cryptocurrency can change rapidly, even changing by the hour. And the amount of the change can be significant. It depends on many factors, including supply and demand. Cryptocurrencies tend to be more volatile than more traditional investments, such as stocks and bonds. An investment that’s worth thousands of dollars today might be worth only hundreds tomorrow. And, if the value goes down, there’s no guarantee it will go up again.
Wise words!
