Cryptocurrency Influencer Regrets “Scamming” His Followers

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  • Fifty percent of investors, ages 18-37, trust digital currencies as the economic future.

  • Within the current context, Internet users resort more frequently to content creators to resolve their doubts, than to traditional search engines.

  • Despite speculation about cryptocurrencies, there are currently more than 2.5 million investors in 2021

The universe of cryptocurrencies has become one of the main trending topics, this derived from the great growth within the trust placed on the technological future of the metaverse, as a result of the name change from Facebook to Meta, a movement that placed life within the digital, as the next big step in technology, in which more and more activities would be carried out without the need for a physical space; However, within this culture, digital currencies have faced various problems, not only because of financial speculation, but also because of what has been done by various influencer of cryptocurrencies, as he points out Ben Armstrong, who now regrets the “advice” he gave his followers, which generated large profits at the expense of his followers’ money.

Despite the various speculations about the future of digital currencies, currently the cryptocurrencies Y NFT’splay an increasingly important role, so much so that according to what was pointed out by charles schwabmore than fifty percent of young investors between 18 and 37 years old want cryptocurrencies as an investment asset, figure that reveals the importance of this market and its understanding.

In accordance with hellosafethe number of users of NFT’s, has increased worldwide, since it estimates that buyers went from 75 thousand in 2020 to 2.3 million in 2021 and 2 million 574 thousand 302 in 2022; likewise, The number of wallets of cryptocurrencies they traded with NFT’swent from 89 thousand in 2020, to more than 2.5 million in 2021, figure that reveals the growth in trust within this technology despite the falls in cryptocurrencies that have been registered in recent years.

influencer of cryptocurrencies regrets “advice” that made his followers lose money.

Within the current context, content creators have positioned themselves as one of the main sources of information, an aspect that has generated various positions, since it has been considered that although they usually touch on specialized issues, many of them are not experts in the areas, so countries, such as China, now by law, only those studied on the subject, will be able to generate content for social networksthis with the intention of causing followers to be affected by certain misinformation that could put them at risk, such as what happened with the influencer ben armstrong one of the most viewed crypto influencers on Youtube and who during the first months of the year, has decided to put an end to a commercial practice of cryptocurrencies, which affected its followers.

with a channel in Youtube (Bit Boy Crypto,) which registers a fan base of just over 1.5 million subscribers, Ben Armstrong, stated that for two years he accepted payments from crypto companies to promote his new products among his audience of subscribers, an act “common” among content creators ; however, now the creative regrets it, since “While he was making money, this practice led to some ‘painful’ losses for his own viewers.”

However, this was not the only bad practice of the content creator, since in the fall of 2020, Armstrong announced his association with a cryptocurrency called Xdistcalling it its most reliable currency and that Xdist sought to stop scams; however, in the end, the project itself ended up being a scam, since the project managers disappeared after several months of gathering investment, leaving a digital currency, with a drop of almost 99 percent, so now it is valued at less than a cent on the dollar.

For users, knowing the actions of content creators broadens the panorama on which the internet is focused, pointing out the need to build trust in the information to which they are susceptible, in order to avoid being victims of fraud.

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