Peter Parker’s uncle once said, “With great power comes great responsibility.” Ben Parker would have been greatly disappointed in these YouTube Influences who are too blinded by the prospect of monetary gains that they do not shy away from giving out terrible investment advice to their followers. Crypto is indeed a major point of attraction given the potential for profits albeit the obvious faultlines. And now the popularity of crypto has resulted in the rise of a new niche of influencers called cryptocurrency influencers whose work and advice traverse rather blurred ethical lines. Read along to know more about the crypto hype men and how they manage to keep their heads above water no matter how the market goes.
The What and Why
The first and best way used by these pseudo crypto experts is investment advice. Even though they have absolutely no financial training or experience, they take advantage of their huge number of followers to reap profits even when the advice they give out is borderline terrible and questionable. And even if their predictions go wrong, they still make profits through revenue streams. Looks like prudence is indeed an important and necessary weapon to make sure that one doesn’t fall under their hazy charms.
Some others promote referral links to cryptocurrency exchanges and followers are often lured in by their half-baked promises of making them overnight millionaires. The ultimate result is that these so-called crypto influencers end up with profits despite the plight of the market.
Most of these overnight influencers are banking on the desperation of those in need of advice concerning crypto and making money out of their ignorance. It looks like when it comes to cryptocurrency, it is not just volatility and uncertainty that we should worry about. What is even more concerning are these crypto hype men and their superficial optimism that can end up quite badly for those who blindly follow their advice.