Are you putting your money to Work or Waste?
Don't just leave your money in the bank, let your money work for you while you are sleeping is something we hear every day from influencers, motivational speakers, and others. These people preach about the opportunities we can enjoy in the digital space from time to time. Many of them aren't doing it because of the love they have for people, bringing people on board is one of the opportunities they are enjoying and whether things go well for you there or not doesn't concern them as long as they have benefited.
The world has gone digital and there are lots of opportunities awaiting people who are ready to grab them but unfortunately, a lot of people just jump into these opportunities with their money without doing one thing properly. Among these opportunities, there are many of them setup to steal from people and regardless of whoever is talking to you about them, it is an obligation for you to make your findings.
The issue of scams here and there is one of the threats attached to the opportunities available in the digital world and because of this problem, a lot of people are missing out on real opportunities just because they didn't do their proper findings before taking the previous opportunities presented to them in the digital space and they fell victim of various scams.
In a world where even genuine investment fail due to mismanagement, I wonder what happens when there is no good structure for an opportunity presented to you in the digital space.
Over the weekend, I spoke to a group of friends on an old student association WhatsApp group about investing in Hive and other second-layer tokens. I spoke to them about saving, staking and other opportunities on the platform but many of them turned down the discussion because it had to do with the digital world.
They claimed to have been scammed several times and they weren't buying anything that has to do with digital investment.
The discussion reminded me of the first time I spoke to someone about cryptocurrency, the man told me that it was a scam. I was surprised to know that he invested in a project because a famous musician promoted it and in the end, he lost the money he was told to put to work. When things got messy and victims began dragging the musician, he made it clear that he was only promoting the project because he was paid for the advert and unfortunately for them, the Mastermind behind the project wasn't apprehended.
The words of a celebrity or influencer are not enough to make you invest your money in the opportunities they bring to you, it is your responsibility as a person to always make your findings before investing.
Putting your money to work when you don't know what work your money was put into is an unwise decision. When Ponzi became a trend, someone invited me to be his referral and I asked him where the returns of our investment would be coming from if this money weren't used for anything than paying A with B and he couldn't give me a reasonable answer. It is a simple calculation, if bringing a referral is what's sustaining what they refer to as an opportunity then one day, there won't be enough referrals and everything will crash but people are so obsessed with the returns and just jump into scam opportunities.
There are lots of logical questions we need to ask ourselves before taking opportunities presented to us whether in the digital or physical world and when we don't do the right thing, we should not paint other opportunities bad for people who could really benefit from them.
Most times when proper research is not done, we get the opposite of putting our money to work. It is purely putting money to waste because if you can make a proper finding before buying a physical property, the same approach should be taken for digital investment.
In recent time there exist many scammers in every digital platforms and people are afraid because of them and don't ready to invest in real project also where they can earn. But I think we all should do analysis before investing in any project and it's very important which we don't do generally.
I remember when mmm was a thing. These people carted away with people's money with no conscience. The red king ? He used popular Facebook influencers to make millions of people invest their hard earned money in his company not knowing that it was barely a ponzi scheme.