There are so many interesting things related to Blockchain and one of those are the Blockchain based social media platforms. As time is passing by more and more common people are getting introduced to these platforms and they are actually loving these as well.
But as more and more people are getting introduced to Blockchain technology some way or the other people are doing fraud with these newbies as they are not very well aware about how things work.
So one thing that every new comer must do is to get a basic knowledge of any platform he joins , also basic about how trading is done , how funds are transfer between different exchanges.
By learning these they will atleast reduce a chance of them getting fooled by someone.
Do you know panic is the thing that is the next big problem with people here , and believe me there are alot of people with this problem. Let me share a short story with all of you.
I am from India and recently there was a fake news being circulated that India will ban Crypto Currencies and there will be strict penalties to those who ever store these currencies.
In just less then a hour , i saw with my own eyes that the price of different crypto's varies when i compared them on a Indian exchange and a international exchange.
What really happened is quite simple , people started selling there Crypto Currencies in fear and panic of getting being penalized.
Thankfully a known personality from India came live on his YouTube channel immediately after seeing this behaviour himself and he cleared it out that the news that is being circulated is fake and no one needs to panic.
But still so many people already sold out their cryptocurrency in loss , so you can see how easily panic was created among the people and because of which they were effects very badly.
So for every new comer, Atleast make sure of these two thing. first is that, make sure to have a basic knowledge of what you are doing. second don't panic and if you can follow the first thing then it will become easy for you to identify fake things and getting panicked unnecessarily.
That's all for the day , see you in my upcoming blogs.