The basic rule of investing in the crypto sector is to always do your own research (DYOR) before committing your money to any cryptocurrency. The industry has been home to scams and fraud ever since Bitcoin got its first value all those years ago, and the situation has only gotten worse since.
However, there are always those who tend to forget this rule when a seemingly good opportunity emerges, only to realize before long that they have given their money to a scam project that has pulled the rug from under their feet.
This is what happened to many recently when a crypto promoter on X called @MrOverpaid advised his followers to invest their life savings into the new $WOOD token, only for the project to rug pull several days later.
The promoter in question is an Andrew Tate copycat in a way that he tends to post tweets about empowering yourself, dropping everything that could be considered a waste of time, and venturing into a risky, difficult-to-navigate world of business and investment.
https://x.com/SK1Trades/status/1805313131440390225
Since the rug pull, MrOverpaid deleted his endorsement of the project and has posted another tweet in which he says he wants to clear things up. He told his angry followers that a friend of his was involved with a cin and he blindly shilled it to help him out, claiming that he himself did not have any financial gain from the fraudulent project.
CONSIDER JOINING A LEGITIMATE PRESALE SUCH AS WIENERAI
“After investigating this with a few friends and @crypto_bitlord7, the developers sniped it as soon as they launched. Then transferred tokens to a bunch of different wallets & then rugged it,” he claims.
https://x.com/MrOverpaid/status/1805246573858709614
Consider Joining An Authentic, Safe Presale
While the crypto sector has some cases of scam, there are still real, reliable crypto projects that you can join if you wish to become an early investor in a legitimate cryptocurrency with great potential.
One example is WienerAI (WAI) — a big presale that has been going on for a few months now and was audited by a company called SolidProof.
WienerAI is a meme coin that combines a dog, a sausage, and Artificial Intelligence (AI) into a single project. Its token, WAI, is selling for $0.000722, and so far, the ICO has raised over $6.47 million. This is the money coming from whales and countless investors who did their research and decided that the project is worth their time and money.
BUY $WAI TOKENS BEFORE THEIR PRICE GOES UP
The reason WienerAI is so successful is its upcoming trading bot, which is designed to have a ChatGPT-like interface for easy and intuitive usage. The trading bot was designed to operate as a full-scale trading companion, which can instantly scour the market and recommend the best opportunities through the use of its predictive technology. It can also allow users to perform trades and swaps through its own interface.
This is an example of a legitimate presale that is not only worthy of trust but also has massive potential to blow up upon launch. You should still do your own research before investing and do not make your move until you are ready to do so. But, do not wait for too long, as the project is scheduled for its next price increase in about a day, and its ICO is slowly approaching its end, which has not yet been announced, but the devs have hinted that it is nearby several times now.