How To Deal With Bogus Financial News
No one is immune from fake news, but false financial news has some real life consequences. In this article we'll discuss on how to avoid those circumstances.
The spread of bogus financial news affects all investors, no matter how big or small they are. Nothing is new about fake news it has been around for a long time, but greater understanding of the danger it poses to financial decision-making might help investors avoid being duped into making financially damaging conclusion.
As the Cryptocurrency market gains rapid growth, so did the crypto scams from exchanges vanishing to promoting coins with no use case and rug-pulling them after people invest in it.
Scammers frequently use social media to promote fictitious articles. They have a lifelike appearance and imitate real news organisations. Bloomberg, Forbes News, and others are some instances. Example as the day of writing this article, Litecoin cryptocurrency gained more than %30 after fake Walmart press release news went viral. (The fake press release was reported by numerous news outlets including the Reuters & CNBC).
So how can an average investor be more aware if the biggest news outlets in the financial industry are being fooled? Well… This steps might help you become more cautious.
Steps To Deal With Bogus Financial News
The majority of crypto-assets are unregulated, volatile and come with a high-risk (potentially loosing all your invested capital). So Don't Invest What You Can't Loose.
Visit your national securities & investments commission website and get familiar with the regulations and the latest updates on fraudulent reports or surveys.
Do your due diligence before making any investment advice based on that appalling news.
Be aware of digital assets that are promoted by so called influencers with large audiences, (Influencers are paid to promote that digital asset, most of the influencers didn't even grasp the concept of digital assets, they do for the profit)
Robotic commentary should be avoided.
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