Disclaimer: This article is satirical. We do not encourage anyone to use this fool proof method to lose 130,000$ of his own money.
Who hasn’t been there? A new coin drops, you have no idea what it does. The logo is funny or the coin is somehow attached to a DeFi “influencer”. “Based!”, you tell yourself! “This will moon! ALL IN!”. You invest your life savings first, then go research the project after (Hah right, researching is for losers kek!).
Step 1: Find a shitcoin
You have your retirement money at your fingertips. This is bad! You need to lose it quick! Alas, you see a tweet about this new project dropping called Eminence! It is obvious that it’s experimental and little is known about it, but it says “NFT” somewhere! Call the Apollo 11 out of retirement this is going lunar!!
Step 2: Invest your money
You invest 130,670.28$ worth of Ether! Excellent! But we’re sure you were quicker than us and your trigger happy fingers already did that. We’re proud of you. Mama will be proud of you too.
Pro tip: Don’t forget to pay $16.21 in gas fees! Top kek
Step 3: Research the project
Lmao kidding bro
Step 4: Get rug pulled
Ok listen up buddy! 90 mins have passed… The Bogdanoff call came in. The Illuminati did their bid! The coins you just bought for 369 ETH? They’re worth about 1 ETH now!! We can finally flush our retirement money down the drain!
Step 5: Sell said coin
Ok king. We’re almost there. Now sell your coins on Uniswap!
Pro tip #2: Don’t forget to pay $15.65 in gas fees!
How to avoid getting REKT?
The quick maths: You bought in at $130,670.28 and sold out for $368. Ignoring the (now minimal in comparison) gas fees and peanuts: You are now $130,000 poorer.
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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