By now, most people are probably familiar with the bad case of food poisoning that many investors recently received when a certain food monikered token crashed.
To add insult to the financial injury, the crash was spurred by the selling of a lion’s share of tokens held by the primary non-face behind the project.
The anonymous figure, after dumping all of their tokens, caused the token’s valuation to tank by nearly 50% in a single week.
With this, investors learned an important lesson that came with a high cost; that lesson, don’t ever believe the hype.
As more projects begin to come out of the woodwork, these lessons will surely be repeated again.
So, how can you protect yourself from sinking your financial future while lining the pockets of a unnamed figure?
Avoid the Pain of a Crash
So, what are a few tips to help the average investor avoid falling prey to planned price dumps?
- Don’t Believe the Hype –
If something seems too good to be true, it probably is. This means that if a relatively new asset without a proven track record or utility within the space is shooting towards the moon it’s probably not because it is going to change the industry. More than likely it is spurred by more people buying into the hype.
- Forget About FOMO –
Since many people missed the chance to jump in on Bitcoin early like some investors there has been a fear lingering in the space. This fear of missing out on the next big thing has left many eager to adopt too early within projects that have not yet proven their worth. So, don’t be like them.
- Anonymity is Good For Somethings and Bad for Others –
Like the recent crash, having a faceless figure behind a project is usually a bad sign for most investors. Given that the highest valued asset was created by such a figure, it’s not a hard rule but usually a norm. So, don’t trust projects with no public figure to hold accountable.
Level01 & Lessons Learned
Utilizing the above lessons as a basis, investors within Level01 can avoid the pitfalls experienced by other token holders this week.
So, going by the numbers we can see that unlike $Sushi, Level01 is led by very public figures that have staked their careers on the success of the platform and bringing DeFi to all. With this, there is no unnamed figure leading without any accountability to investors.
To continue, Level01 is not a hype based platform without proven utility.
The platform itself offers retail investors a opportunity to secure their financial future with assistance of AI. It’s the first of its kind.
So, will you take a note from the lessons learned the hard way by others or find your financial future in more secure hands?
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Download the Level01 App today and start trading!