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Celebrities Shilling shitcoins for their own interest- You must be aware of this.

Crypto’s recent rise has been inspiring, even for the elite. Celebrities and other public figures are now actively endorsing various crypto projects, some of them for their own interest (and this is how things work in our world) and some of them for the public benefit, which is what it’s all about. However, they should be aware that crypto is not the answer to all their problems, and their public support will be very misleading to the public (and to potential investors).

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The main reason for the success of the cryptocurrency space also happens to be one of its problems. As more and more influential celebrities talk about cryptocurrencies like Bitcoin and Ethereum, we see more and more retail investors getting interested, but on the other hand, we also see that the general public is largely misled. Most inexperienced investors enter the cryptocurrency market thinking it is a get-rich-quick scheme. They do not do proper financial due diligence before investing in a new or pilot project, and seem to largely follow the advice or calls of others to close a deal. One such cryptocurrency social network is Vakar Zaka, formerly known for his appearances on popular TV shows like Champions and Living On The Edge. Waqar Zaka also wants to become the prime minister of Pakistan and promises to make the country debt-free. So how can someone as powerful as he be making such bold statements? This is mainly because he is active in the cryptocurrency world and has a huge army of investors supporting him day and night. In this article, we discuss some of the disadvantages of following influencers like Waqar Zaka and provide real evidence.

Vakar Zak’s private cryptographic group

Waqar Zaka is getting a lot of support from his community on various social media platforms. Therefore, he was able to create a paid subscription group with 32,000 members. He has over 3.5 million followers on Facebook and 487,000 on Instagram, which puts him in a great position to get more reach. It also offers backer benefits on Facebook for a nominal $10, and appears to share exclusive content about cryptocurrency markets and issue trade alerts that members can take advantage of. While this sounds like a good deal for someone unfamiliar with the cryptocurrency market, there are many unanswered questions among this group. It seems to us that most of the information he publishes is already available on many other platforms, which does not help his credibility at this point. Waqar Zaka claims to be an early adopter of the blockchain industry, but he never seems to mention the risks associated with speculative investments. If he’s been in the industry since 2014, he should have a good understanding of how the markets work. It is true that he provides insightful material for research purposes, but his technical analysis is completely flawed. Some participants also have problems with customer service. The feedback we received showed that the support team were unresponsive and some had lost large sums of money. There are many other cases of people who have lost their money gambling due to Waqar Zak’s business warnings. It sells the dream of financial independence and wealth for $10, attracting thousands of would-be investors. Celebrities Shilling shitcoins for their own interest- You must be aware of this.

Is he or she really an expert in blockchain and trustworthy?

The blockchain space is still something very new to the world, and those who have achieved success are people with a lot of experience and knowledge. As for Waqar Zak, he was merely a speaker at several conferences and many have speculated that he paid officials to be part of the group. Waqar Zaka, however, came forward and said he had media partnerships with these companies and was just trying to find out more. For someone who invested in a Bitconnect MLM system and lost $60,000, it’s hard to believe they understand the basic concepts of blockchain. Bitconnect was a scam to get innocent people to invest their savings and Waqar Zaka is launching a similar project. Ouicoin is one of the decentralized ecosystems that Waqar has launched through social media marketing. Despite his lack of experience in the technical side of things, Waqar is a visionary founder of Ouicoin. This project is based solely on social presence and not real utility. The website doesn’t mention the development team, so we don’t know how they made Ouicoin. Looking at Ouicoin’s Github code, we see that the original program activity is almost dead. It just clarifies that they only hired one developer for the technical part of the job. Celebrities Shilling shitcoins for their own interest- You must be aware of this. Ouicoin has not made any major announcements about the project’s roadmap or development status and has always focused on marketing and social media. Some of the stories told on Ouicoin’s Facebook page over the past two years show that the team behind Zach’s Waqar does not support token holders in their time of need. However, they react immediately when someone asks to buy or acquire additional chips. Waqar Zaka conducted a private sale on Snapchat and asked his followers to follow certain instructions before making a purchase, which is rather strange because every time a new project is launched, we see public coin offerings. Moreover, they did not even have a white paper to present their experience and work to Ouicoin. Waqar Zaka also responded to these complaints that Ouicoin has no technical standing in the blockchain space. He wrote a post about why there is no white paper or development team and believes people invest in his name and trust him because of his social media presence. In the world of cryptocurrencies, it is always advisable to research a project before investing. However, in the case of Zack’s Waqar, there seems to be nothing but his posts on social media to promote his own cryptocurrency. He also launched a POS master node-based coin called TenUp, which he says can help entrepreneurs raise funds and help unbanked organizations worldwide. The problem here is that it is completely determined by a community that believes only in Wakara Zak and not in the project itself. The website created for TenUp is full of misinformation and distorts the very idea of a decentralized ecosystem. He points to the proof-of-stake mechanism used to develop TenUp and explains that it will be more expensive to attack this system than the PoW model. That’s not true, because the proof-of-work model used in bitcoin is the most secure digital asset in the world. Currently the coins are listed on only two exchanges, STEX and STAKECUBE, but the number may increase in the future. So the most important question you need to ask yourself is: Should I trust a TV actor who is now a crypto entrepreneur to invest my hard-earned money? You can always learn from people with high-level experience and knowledge, but you still need to do your own research and understand how to manage risk. In the case of Vakar Zaka, he may show up every day to keep you updated on new projects, but he won’t always be there to support you when you get stuck. Envy and admiration can be important emotional factors for many people in various aspects of life, but you should leave them out of financial decisions. Trust the process and understand the basic conceptual model of cryptocurrencies to succeed in the long run.

Can social media influencers have a negative impact on the crypto-currency market?

Celebrity marketing will not decline in this growing industry. So we need to root out those who promote bad projects – just to get more users to invest in their platform. If the person really knows the basics of the project, you can trust him, but it is still advisable to do some background research. Celebrities produce so much crap that people will learn not to trust them. – Jameson Lopp (@lopp) 10. February 2021 World-famous actors and sports stars have already promoted cryptocurrency projects, and many have faced serious backlash from the community. If we look at the incidents of the last three years, we see that many prominent personalities, such as John McAfee and DJ Khaled, have been involved in many unethical marketing campaigns. In the case of John McAfee, he was responsible for promoting $23 million worth of illegal ICO projects. Celebrities Shilling shitcoins for their own interest- You must be aware of this. In our example with Zack’s Wakar, he also promoted some really bad projects like Safemoon, which is considered one of the most rotten plays on the market. He titled his message: A play with less investment and super profits, and it’s totally irresponsible of him to promote such a project with no real use. https://www.instagram.com/tv/CN2rJO6AGsC/?utm_source=ig_web_copy_link Another example of such promotions took place recently during the boxing match Mayweather VS Paul, where Floyd openly promoted EMAX, a currency that went up 2000% in one day. It’s a fad that has no real value. In cases like this, it’s hard to believe that social media influencers can improve the crypto industry. Celebrities Shilling shitcoins for their own interest- You must be aware of this. Therefore, we need to follow the early adopters who have been working on real time projects for a long time. Some experts on Twitter may give good ideas, but no one will ever send signals and provoke the idea of making quick money.

Final thoughts

With celebrities jumping into this sector and choosing individual projects, we need to be careful when making investment decisions because it is more or less likely that these projects will turn out to be pump and dump systems or substandard altcoins. The best way to promote cryptocurrencies would be to educate on the basics and spread the message about risk management when buying such volatile assets. In the future, it should be about celebrities promoting cryptocurrencies as a whole, rather than creating hype around a project to make more money. Celebrities Shilling shitcoins for their own interest- You must be aware of this. Kartikeya Gutta, born and raised in India, is a cryptocurrency journalist and freelance writer for the website itsBlockchain. It covers various aspects of the industry through in-depth analysis and research. His passion for blockchain and the crypto-ecosystem is largely because he believes it can truly change the world and help millions of people.

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You should know that celebrities are not just famous for their work, but for their money, and they are known to have a lot of it. You may have seen them promoting a number of products both in and out of their acting career, and there are a lot of them doing so while they don’t even have their own financial interests at heart.. Read more about shitcoin millionaire reddit and let us know what you think.

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