The Dark Side of New DeFi Telegram Projects: The Risks of “Tap” Games
New DeFi projects on Telegram, often referred to as “tap” games, lure users with promises of high returns for minimal effort. However, behind this shiny facade often lies a dark side fraught with risks and potential fraud.
Some of the most common issues associated with tap games include:
- High Volatility: The prices of tap game tokens can fluctuate wildly, making them highly speculative investments. You could easily lose your entire investment if you’re not careful.
- Fraud: Many tap games are outright scams designed to deceive people. These projects often disappear with large sums of money, leaving investors empty-handed.
- Lack of Transparency: Numerous tap games fail to disclose any information about their team, code, or business model, making them highly opaque and risky investments.
- Market Manipulation: Some tap games engage in market manipulation tactics to artificially inflate the price of their tokens, leading to potential sharp declines when the manipulation ends.
- Influencer Dependence: Many tap games rely heavily on social media influencers to promote their projects. These influencers often receive commissions for selling tokens, creating a potential conflict of interest where they may recommend unsafe or unreliable projects.
Before investing in any tap game, it’s crucial to conduct thorough research. Here are a few tips to help you avoid scams:
- Don’t invest more than you can afford to lose.
- Make sure you understand how the project works.
- Research the team and their experience.
- Seek independent expert opinions.
- Be wary of projects promising unrealistically high returns.
- Don’t invest based solely on social media influencer recommendations.
Given the high risks associated with tap games, it’s essential to weigh the pros and cons carefully before investing.
Remember, you should always exercise caution when investing in cryptocurrency, and never invest more than you can afford to lose.
I can also recommend equally promising Telegram games and bots: Musk Empire, The Baboon, ChainCrops, PixelVerse, TimeTon, Iceberg, Gemz, TimeFarm, CLayton, BullRun (check in every 8 hours for 10 seconds) Hamster Kombat, W-Coin, TapSwap, Memefi, DotCoin, Pocket Rocket and Wormfare Slap
