Just started your new crypto server?
A price bot is a good feature to keep your community members' attention within the discord channel instead of focusing their attention on other charting websites.
In this tutorial, we will teach you exactly how you can set up your own Customised Price bot for your project even if it is not listed on Coingecko yet.
This price bot only works on the following blockchains:
If you do not have a computer running 24/7, you will be required to use external hosting, firebase, to run your program which may incur some fees depending on your price update frequency and how many price bots you have.
For moderate usage, the monthly cost should be negligible in the cents or even free as long as you stay under the threshold.
We will be using Firebase for our Bot application which you will need to create an account and input your credit card details later.
We will also be using the Moralis API instead of the free CoinGecko API as your project may not be listed on CoinGecko yet.
Moralis API is free as well as long as you don't go overboard with the frequency that you request the new pricing.
The current setting of 1 minute per interval should be well under the 10million request per month for Moralis.
So to summarise you will need to create these accounts:
If you are new to programming, you will be required to install the following applications:
You will be taught how to create the accounts and install the following software later and there's no need to write actual code as you will be copying and pasting what we have.
This guide is primarily for Mac OS but it should work similarly for windows as well.
It will not be easy for a beginner but if you are ready for the challenge, let's get started!
First things first, you’re going to want to log into the Discord developers portal navigate to “Applications” and click on “New Application” after which you will be given a prompt to put in the name of the application.
Next, you will want to click the add bot button in the bot's tab and create a bot.
At this stage, you can name it anything you want or upload your project's icon.
Next, head over to the OAuth2 tab > URL Generator and click bot, we will generate a link to invite our newly created bot to our server.
You will find the link at the bottom of this page.
Copy the link and invite your bot to the server.
Install Node.js by clicking this link.
Select the recommended version for the Operating System you are using ( Mac or Windows ) and install it.
Install Visual studios Code by clicking this link.
Install the Stable version recommended for you.
Go over to Firebase and create an account.
After creating an account, go to the console page and then click Add project.
Give it the name of the project you want to track so you can easily identify it later.
You can skip the analytics portion.
After creating the app, click on the upgrade button on the bottom left and click on the Blaze Plan as cloud functions will only work on the Blaze Plan.
However, if you view the full plan details, you will see that most of the cost starts only after you have consumed significant resources.
For our use case, the monthly cost should be negligible.
Click select plan and go ahead and fill in your billing details, remember to set a price cap for your billing at the end under $1 so you never go above a certain threshold by accident.
Click the purchase button and fill in your billing details if you haven't set it up for Google Console.
Head over to Moralis and create an account.
After creating an account, you can see the API tab in the dashboard.
Cick Copy API Key and click default and store it somewhere safe, we will be using it to access Moralis later.
This is the most complicated step so please follow it carefully.
Download the following code package and unzip it to your Desktop.
We will need to use the Terminal to access that folder to install the files later.
Please save the folder name without any space or special character as it may affect the installation later.
Since we already have Node.js installed, we can install Firebase using Node.js in the terminal.
Go to your Visual Studio and in the top navigation, click terminal >> new terminal
You should be able to see the terminal box in the bottom of the visual studio application.
We will first need to navigate to the folder using the following terminal commands:
Cheatsheet cd foldername > Navigate to folder cd . . > Go back to previous folder ls > list the folders available to navigate to
Now we will need to navigate to the correct folder to install our files.
Type ls in the terminal and press enter.
You should be able to see the options available that we can navigate to and get a sense of which folder you are currently at.
We now need to navigate to the Desktop folder so type "cd desktop" if it's available in the list, if not double check the file path required to go to your desktop, and traverse using the terminal commands till you find the desktop.
After going to the desktop, you will now need to go the folder you have downloaded.
Type cd "Name of your folder".
If at any point you have entered the wrong folder, remember you can just type "cd . ." and then ls again to list the available folders in your current location.
Once you are in the folder, we can proceed to install Firebase.
Type the following code:
sudo npm install -g firebase-tools
And then login to firebase in your terminal by typing:
You will be prompted to login, after logging in, type
Next, use the down arrow key and select the "Hosting" option below by pressing space and then enter.
Next, select an existing project
And use the navigation to select the project that you have created in your Firebase account.
Select the following settings and Firebase should be linked to the folder you have selected in the desktop. You are now able to easily deploy the files in here to your firebase hosting server.
Next, let's create a functions folder, type the following into the terminal
firebase init functions
And then select the following options.
Your folder should now have the following files if you have done it correctly.
Now it's time to copy the code available.
Use Visual Studio Code and open the functions folder as shown above.
You should see the following files in the editor under functions.
We will now need to copy our code and replace the code within these files. Make sure you delete the existing code.
The files we will be need to replace are
Click the add files function to create a .env files if required.
After you have copied over the code, remember to save the code for each file individually by hitting cmd + S or going to the top navigation and clicking file > save.
In the .env file, we are able to set the server that we want this bot to work on and also the which bot to target.
Head over to your Discord Developer Portal and find your Bot Token
If you can't see the Token, click Reset Token to get a new one and then key it into the .env file under DISCORD_TOKEN.
Anytime you reset the token, you must edit the ".env" file and deploy it again to firebase.
Next, copy and paste your Moralis API Token in to the Moralis API token field.
Right-click your server name and copy your Server ID and paste it into the .env file.
If you can't see the Copy ID button, make sure you have developer access turned on in your settings on Discord.
And add it to the SERVER_ID field.
Fill in your Token Name, Contract Address, Ticker Symbol and Blockchain into the .env file and save.
Make sure to use the correct lookup values for the chains, for example for the Binance smart chain it's "bsc", you can find the lookup values in the website provided in the env file.
If you do not find the chain, it means the chain is currently not supported by Moralis so the price bot will not work.
Head back to the terminal and make sure you are in the functions folder.
Tip: You can also type ls to see if "Index.js" or "Package.json" is in the list to make sure you are in the functions folder.
After the node modules have been installed, we will next need to deploy this version to Firebase which is the cloud hosting we will use. Type:
After deployment, you should be able to see the StartBot function in your firebase account under functions.
Hover over the Request URL and copy the hover text and visit the URL in another tab.
Once you visited the URL, the website will write:
This means that your bot is running fine and you should be able to see your Bot come online and then reflecting the price within the next 5 minutes.
If you face any difficulties during the creation process, feel free to drop by our new Discord Channel and go to the #support section that is specifically for project teams.
In this guide, we will distill the IDO strategies that we have picked up from observing the best IDO/ICO launches in the industry.
Before marketing your IDO/ICO, you have to make sure that the problem or opportunity that your IDO project is aiming to solve is easily appreciated by the community.
In your whitepaper, you should address the following clearly:
An easy way to gauge whether your problem or opportunity is clear is by asking yourself whether your target user will use your project regardless of whether you have a token or not.
Most projects that are not sustainable after bull markets are those that have attracted a majority of speculators that are just hoping to make a quick profit from the project.
If your problem/opportunity is one that wouldn't exist even in a bear market, then it's a pretty good time to backtrack on your idea before launching it.
After you have clearly defined the problem, this is the section where you explain the "How-to" in solving the problem of capturing the opportunity.
You should also differentiate yourself from other solutions in the market and clearly state why the existing incumbents do not work in the long run and why your solution will be the last one standing.
Again, if your solution is an imitation or just a 1-to-1 "fork" of another well-known project, it may be a good time to re-evaluate the idea you have.
How many users can your solution potentially help?
Sizing your market allows you to create a more realistic forecast how much earnings your project can potentially capture and distribute to your token holders.
If one of your key revenue drivers is depending on Total Value Locked ( TVLs ), an easy way to size your market is by looking at the TVL of the chain you are building on and their growth rate to forecast your maximum potential.
A project that does not generate revenues or earnings will never be able to reward its token holders. Any project that rewards token holders based on the promise of other token holders buying in later can be easily categorized as a Ponzi scheme by the crypto community.
Make known the different revenue streams that your project will have and also how much is the expected earnings based on realistic milestones.
A realistic milestone can be the closest look-alike competitor you have and their progress in terms of transaction volume, Sales or TVLs depending on your revenue model.
Show your investors why your team is the best suited to execute your idea and bring it to fruition.
Any existing experience closely related to the problem you are trying to solve is a plus point.
If your project requires
Tokenomics is a very complicated subject and there is no single tokenomics structure that works for every project.
If your project is not well-funded and you need a longer runway to support your development, you may consider a larger token distribution to team members and seed investors or partners compared to the public sale.
If your project is just a casual fork of another project and you just need to fund your daily operations and marketing budget, implementing a tax on buy/sells may be sufficient to maintain the project while keeping it majority community-owned so that holders are incentivized to spread the awareness on your project.
Also, your tokenomics is also an important optics of your project and can be interpreted differently from what you want to portray.
For example, a short vesting schedule can scare off potential investors because of the fear of project teams dumping on the project.
Here are a few important points you have to consider depending on the scale and objective of your project.
The difference between marketing an IDO and post IDO marketing is that the IDO is a very time-sensitive event.
There is no chance your IDO will blow up on the first day if you do not build a following of your IDO in the first place.
On top of that, you may be competing with capturing liquidity from other popular IDOs on the same day.
Here are some common effective channels for building awareness of your project:
Always aim for your call-to-action to drive them to your own community channels where you can communicate with them later and build up excitement.
This method also reduces the amount of advertising spend you need for sending follow-up messages to interested participants.
Nothing gets an investor more excited than joining a brimming community of other passionate investors.
Community engagement is your superpower in converting skeptics into loyal fans.
Make sure to install a professional moderator to prevent your community channels from becoming a cesspool of spam and scams that turn away potential investors.
Build easy-to-digest infographics that community members can share and don't forget to promote active engagers into moderators or VIPs so they get more incentivized to help your project succeed.
Picking your launch date is both an art and a science.
You will need to think about the following:
Nothing is worse than launching an ICO/IDO in a bear market or having the majority of your day-1 liquidity sucked away from an out-performing competitor.
Make sure to have a strong and engaging marketing sequence counting down to your IDO along with clear explanations on how to participate in various languages.
Projects that only focus on the English-speaking community will miss out on the global pool of investors which can be 4-5 times bigger than just the English-speaking community.
There are many factors underpinning the success of an IDO/ICO. Network with other successful IDO projects and find out the strategy that they used to achieve their success.
If you are on this page, you would already know that having a discord server is important for crypto projects to build visibility and retain a loyal pool of community members.
In this guide, we will give you the step by step instructions on how to create a Discord server specifically for Cryptocurrency projects, from start to finish.
We will talk about a few important topics that most beginners miss out on when creating their servers
We recommend using our template here that contains all the category, channel, and role structures preset for blockchain communities, the methods for creating a server are slightly different.
Before we start, make sure you have already registered an account on Discord.
If you are creating from scratch, below are the exact steps to creating a server as well as key items to change for better personalization of the branding of your project for your Discord Server.
Click the add a server button and Click Create your owner Server.
Click Create My Own and do not start with any templates that they have because it's not relevant for crypto communities.
Then select for a club/community then followed by typing your project name and uploading your logo.
Congratulations you have a discord server now after completing this step!
The reason why some users prefer Discord to Telegram for community chatter is that the information is way more organized on Discord.
However, it's also important for you to set up the channel in a way that is structured and familiar to Crypto investors so that they can easily blend into your community without much friction.
Let's get into how to set up the right categories and channels for your project.
You may have seen the other options for using templates but currently, there are no good templates on the web that fits a blockchain project completely.
That is why we have created WhereCrypto's Template which you can install here to quickly add all servers without spending hours to set it up.
Click this link here to install our discord template.
We will talk about each category and its channels in the next steps.
We understand that not all channels are applicable to your project so feel free to modify or remove whatever channels that are not applicable to your blockchain project.
We have also added a template copywriting which are not imported from our discord template.
An essential channel to make sure your community members can quickly learn about your project and why they should invest in it as not all discord users come from your website.
Most newcomers may come from discord invites and we want them to easily do their due diligence.
That is why it's important to have all your official resource links and also marketing content in the welcome category immediately.
In this channel, we have all the links to official information from your team.
You can copy and paste the template text here into the channel.
Here are the official links to <Project Name>. Website - https://www.yourwebsite.com Twitter - https://www.twitter.com Gitbook - https://gitbook.com Medium - https://medium.com Youtube - https://youtube.com Please stay away from any links that are not listed here as they are not endorsed by our project.
The next section is the rules section where you explicitly tell your community members what they cannot do on your server.
It's important to make the channel as inclusive as possible and stay away from sensitive topics that may get the server banned as a whole.
You can copy and paste the template rules below:
Thank you for joining <Project Name>'s community. To ensure that everyone has a great time here on our server, here are some ground rules that we expect all members to comply with: 1. Be respectful of each other 2. No spreading of misinformation or deliberate FUD 3. No threats and promotion of violence 4. No discrimination, bullying, and hate speech towards others 5. No pornographic materials are allowed in this community 6. No unsolicited DMs to other members 7. Moderators reserve the right to ban anyone who is deemed harmful to the group's purpose 8. Each channel has a purpose, please use it for the right purpose. 9. Comply with discord's general guidelines ( https://discordapp.com/guidelines )
The News section is as it is named, a place where your community members can keep up to date with all the latest updates of your project at a glance.
Here are the channels that we think are relevant to keep your community members excited.
Let investors quickly know about the latest updates you have on your project in one channel.
This can be timely information such as:
Investors love to know that the project is getting media coverage because that adds credibility to your project.
This section is mainly for building trust and social proof from community-generated content or parking your sponsored influencer videos.
There should not be any templates for this so you can paste individually each generated post or youtube videos so the embed shows up as a social media newsfeed just as the original content creator intended.
We believe this creates a lot of excitement for your project instead of static links in the previous channels.
Credits to Coin Bureau, one of our favorite Cryptocurrency Youtubers.
The most important channel in your server.
If there are no investors, there is no project.
You will always need to make buying your project as easy as possible for all people interested in your project.
This makes any marketing spend you have even more effective because you won't be wasting precious ad dollars on an audience that is not able to buy your tokens due to a lack of buying information.
Great projects do not neglect the huge pool of non-Defi crypto investors and non-English speaking crypto investors as they know this audience actually makes up a huge majority of the market.
The buying steps should be as detailed as possible, including adding networks to crypto wallets or bridging tokens over to your blockchain.
We do not recommend pasting text into this channel because
We suggest linking it to your website instructions OR even better, the WhereCrypto buying guide that is created for you which consists of all information from turning fiat into crypto all the way to bridging to the right network.
WhereCrypto even includes switching to the correct language options with one click.
It will take at least one to two weeks and good money to translate your buying information into 14 languages and also set up the multi-lingual options on your website.
You can request a buying guide to be written here which you will receive within the next 1-2 days if your project is approved.
This is where most of your community members will hang out at all times.
We have included the four most common channels in every crypto discord server here.
We advise not creating too many channels if you are just starting out as there are not enough members to create liveliness in each channel and some channels will just become "dead" and not inviting to new users.
A channel for conversations about anything under the sun including the general crypto markets and about your project.
You may consider creating sub-channels for different general topics depending on your group size and interests.
You will always need a dedicated section for price talk because price movements can be highly independent of the project's progress.
Obviously, we do not want any negative price talk when the project goes down because it affects the confidence of other investors but you will still need an outlet for investors to vent which is the purpose of this channel.
This channel is important for you to capture valuable community feedback and suggestions on your project.
Good suggestions can often be lost in the general chat so moderators can always direct community members to post their suggestions in the suggestions chat.
A dedicated questions channel is very important so that moderators can quickly provide support to users instead of going through the entire general chat.
Also, new members can easily read through the past question asked so this channel acts an improvised FAQ page.
As your community grows, the non-English speaking population in your server will also increase.
It's important to be inclusive and give them an avenue to chat with their fellow nationals about your project's progress.
We have added a list of languages with growing crypto adoption that you should cater for.
You will always need to have a private channel for conversation between team members and moderators so everyone can better manage the community.
The privacy for this channel should be already set to private by default but please double-check to make sure that it is not visible to the casual viewer.
A verification bot is highly recommended for all discord servers.
Crypto discord is dominated by shill bots and scammers, it's important you try your best to block the majority of these bots so that your moderators won't have an uphill battle trying to ban scammers later.
There are two verification bots we recommend with their own pros and cons.
Captcha bot - More secure against bots but harder to setup
Dyno.gg reaction roles - Less secure but easier to setup
We will give both methods below so pick your preferred method.
You can drop by our discord server to test out the verification bot here.
Click this link to go to the captcha bot.
And click the invite button to invite the Captcha bot to your server.
After you have selected the right server, allow the Captcha bot to have these permissions.
You should now see the Captcha bot in your server.
The steps here are for those who have not cloned our Discord Server Template.
If you cloned the template exactly, these roles will already be set for you.
We are going to create a "Verified" role that we can assign to people who have completed the Captcha so we can set permissions for which channels they can view.
Go to the server settings
And click on Roles and the Create Role button
And then create a role called Verified.
Set the Verified role to be able to see all channels.
Now we want to restrict the @everyone role so that not everyone who joins will have access to the channels.
Then head to server settings >> roles.
Make sure the captcha bot is above the verified role in the list, if it isn't you can just drag it up.
Again, the steps here are for those who have not cloned our Discord Server Template.
If you cloned the template exactly, these channel will already be created for you.
The logs channel basically logs what the user is typing when they are trying to get verified so you have some visibility on the verification process your user is taking.
Click on the create a channel button.
And create a channel called "Captcha-logs"
Again, this channel is already created for you.
Using the same steps you used to create the Captcha-logs channel, create a verification channel, "Verify-here", which visitors will land to verify with the Captcha bot.
Now go to any text channel and copy and paste the following bot command
/config verification_channel set
You should set an option that says "Set the verification channel".
Go ahead and click it and select the "Verify-here" channel and then press enter.
If it does not appear in the options due to having too many channels, simply type it out the word and it should filter and show the channel.
Next, add the verified role by copy and pasting the following bot command.
/config roles add
And select the verified role.
Lastly, add the config logs channel by pasting the following bot command.
/config logs set
Select the captcha-logs channel.
Now that every channel is hidden by default to @everyone.
We still need them to see the "Verify-here" channel to verify themselves, so we are going to change the channel permissions for this channel.
Click the edit channel button
And go to the advanced settings and change it as follow.
You will have noticed that the verification channel is empty because users will receive a DM by default to verify themselves.
However, that can be quite confusing for new users who do not check their DMs.
Let's create a better user experience by placing the verification bot so that they can't miss it.
Copy and paste the following code in the verification channel
And click on the "Setup the button panel" button and click on the text option so you can type any verification text that you want to display.
Next, click on the "Dismiss message" button for the command you have entered so you can have a clean verification page.
The final step is to remove the sending message option from this channel from @everyone after you have set up the bot so that no one else can type in the verification channel from now on.
Congratulations you are done with setting up the Captcha verification bot!
Now if you prefer an easier method to verify, let's learn about Dyno.gg
Click this link to go to the Dyno.gg bot and click the add to server button on the top right.
Select your server and grant the Dyno bot all the permissions to manage the server.
After you have verified, you should now see Dyno bot in your discord server.
Head back to your discord server and go to the server settings
And click on Roles and the Create Role button
And then create a role called Verified.
Set the Verified role to be able to see all channels.
Now we want to restrict the @everyone role so that not everyone who joins will have access to the channels.
Now let's set some special permissions for the Verify-here channel so that @everyone will be able to see our verification message and react to it. Click the Edit channel button for Verify here.
Go to the permissions tab and select settings for @everyone
Make sure enable reactions and read message history are enabled.
Now @everyone will be able to see and react to messages in the verify-here channel.
Next, go to server settings and roles.
Make sure Dyno.gg is above the verification roles in your server settings >> roles, if not you can drag it up in the list.
Click into the Server you want to manage.
And under the modules tab, use the search bar to search for Reaction Roles, enable it and go to the settings.
Click the New Message button and give your server any name you want. Most importantly select the verify-here channel as the selected channel.
You may also just let Dyno Bot be the verification message sender or select an existing message on your verify-here channel as the message to react to.
Customise the "React here to get Roles" to any message you want.
If you want to react to an existing message, type a message in the verify-here channel and get the message ID.
You will only be able to see the ID when you right-click if you turn on Developer Mode on the settings page.
Copy and paste the ID in the existing message field and save and you are done.
After clicking Save, your verification channel should work perfectly, make sure you invite a friend to test it out.
It's a really long process so make sure you clone our discord server template to skip half the steps in this section.
If you face any problems or you need help, feel free to drop by our Discord server and post your questions under the #support channel.
If you have completed this guide, you can read our next tutorial on how you can set up a cool price tracker for your project on discord.
Scammers are getting more creative with their tactics every single day.
It has come to our attention that Telegram Groups are being used effectively to trick people into losing their hard-earned money.
Below is an example of a popular doge theme coin Dogelon Mars.
Unsuspecting users who are searching for the telegram group can easily fall for this tactic due to the realism of the scam.
As you can see, these groups have thousands of members and even fake profiles chatting amongst each other.
New users can be easily fooled into thinking there is an airdrop for this project.
We advise all users to only use reputable directory sites such as CoinMarketCap (CMC), or WhereCrypto if the token isn't listed on CMC yet.
Below this, we have an upcoming Ethereum layer 2 projects, MetisDAO and with a quick search, you can similarly find many scam groups with a huge number of members.
This scam tactic however differs because instead of an airdrop, you will be prompted to connect you wallet to a website.
Once connected, all your tokens will be drained after you have granted permissions to the scam protocol.
Unfortunately, there's no easy way to stop this other than having your members report the scam groups.
Even then telegram may not actually remove these scam groups.
Reporting is also not sustainable because these groups can be created again easily and the members can be bought for cheap.
At WhereCrypto, we have decided to tap on the same exact techniques these scammers are using to raise awareness.
We do this by similarly creating lookalike groups to the original project and making it realistic while changing the message within to raise awareness so investors actually check through every group before joining.
If you see a legitimate WhereCrypto signpost, help the community by joining it and increasing its telegram search presence to help others avoid scams.
Many users browse WhereCrypto every single day to look for promising projects.
Just like in popular token directories like coin market cap and coin gecko, project teams can easily list on our website by submitting our token listing form here.
We also allow community members to list projects on behalf of the project team.
Every project submitted will have an unverified status by default so that users know the risk when it comes to community-submitted information.
Project teams can easily get their token verified by contacting us with an email from their official website address and verifying that the information provided on our listing page is correct.
Our team members may also occasionally do housekeeping and reach out to verify with unverified project teams to make sure we have as little fraudulent information on our website as possible.
If our team member reaches out and there is no response within 3 days, the token listing will be taken down from the website.
We advise project teams to always reach out first to us to avoid accidental de-listing.
Project teams can get huge awareness from our website and appear on the majority of our pages by ranking well on the trending page.
Note: Only verified projects can get the trending status to avoid any fraudulent projects being listed.
The trending tokens can only be voted on by the community and we do not accept any payments from project teams to be listed.
However, we do understand that some communities may not have the most active members and we want to make it fair for new projects with enthusiastic team members.
Each day the clock resets and it's fair game again.
However, we also want to reward project teams that make it a safe experience for newcomers. We want to make Wheretobuycrypto to safest and trusted place for newcomers.
Here are some ways your project can start with extra votes every single day.
Visit our featured on page to add the simple code snippet to your website and submit the trending boost form.
This drives awareness to newcomers to use our website to safely browse the world of crypto and avoid and scam projects.
We have articles ranging from a wide topic to make community moderation easier.
Here are some of our recommended commands:
/daily - Add voting on wheretobuycrypto to your daily task!
You can also add a query parameter to the end of this article link to make any click on the post automatically vote for your project.
FUD - Fear, uncertainty, and Doubt.
This guide aims to serve as a universal guide for group moderators to weed out genuine concerns from FUD disguised as questions.
Let's first define that FUD comes from a place of untruth, where there is no evidence to support whatever the FUDer is implying.
Most FUDs are unintentional but they can do a lot of damage to the community.
Investors FUD for a variety of reasons but most FUD comes from the price action.
There will literally be no FUD during a bull run but when the price drops, every conspiracy theory on why it dropped will come out of the woodworks.
FUD also comes mostly from people who invest more than they can afford or invest based on pure speculation without any underlying idea of what the project does.
Telegram and Discord groups are the new "Shareholder" meetings in the traditional business world.
A group where fellow shareholders can come together and ask questions to project teams, some even allow for shareholder voting through a DAO structure.
In a situation where all shareholders are in the same room, any negative comment without context can snowball very quickly cause people to sell stock in a panic if it's not kept in control.
That is why is it's important for Moderators to keep irrational emotions in check in communities to protect the well-being of every investor.
Hard FUDing is obvious, these are untrue statements that are not supported by any published fact and should be banned immediately.
"This project is a scam"
"This project will go to 0"
"This project will fail because X" ( Where X is not backed by any truth )
"This is a slow rug"
"The price will dip to X" ( Without providing any technical analysis )
You see, these soft FUDers have the same eloquence as the brightest and most manipulative politicians.
They come prepared with a long list of logical fallacies that can be easily used to make an opponent look bad in from of an audience.
Let's dissect and see how each of these fallacies play out in a community and how you as a community can tell when someone is intentionally trying to hurt your investment.
Soft FUDing is not so obvious and can be a headache for moderators because they are disingenuous and are always framed as a genuine concern by the perpetrator.
These soft FUD can sometimes also gain support from genuine investors who cannot see beyond their intentions and contain the same fallacies that politician uses to make the project look bad.
Here are some examples of Soft FUD.
A loaded question is a question that subtly (or not so subtly) pushes the user toward a particular response. The question attempts to limit direct replies to be those that serve the questioner's agenda.
This causes the community attention to be on a negative topic that is not even relevant or true and can be done without providing any evidence because it is just a "question".
"Is the price down because the Devs have abandoned the project?"
Many jokes that are exaggerated only work if the audience has the specific context to get it. If not it can be easily perceived as an ordinary statement and misinterpreted as truth.
"100,000 in marketing for one Twitter post"
"Devs ran away with the money"
"Just a joke guys, don't be sensitive"
When the price goes down, people will find all sorts of reasons to justify the drop. Unless the investor can provide data-driven insights OR constructive criticism to correlate the reason why a situation has happened, it is just plain FUD.
"Our price is going down because our marketing sucks"
"Our project is not getting more investors because the website looks horrible"
Troll baiting is used to describe an investor who knowingly invites the hatred of a community for their own agenda ( For attention or for shilling another project ) then turns the narrative into being censored or bullied by the project team or community members and making the project team or moderators look bad.
These investors usually make statements or ask questions without the real intention of finding out more about the project, they simply find anger and hate amusing.
They may not even be invested in the project ( Or invested in a competitor ) in the first place.
This fallacy occurs when you argue that your conclusion must be true simply because there is no evidence against it.
"No projects in this space has been able to complete their platform on time, therefore this project cannot do it"
"The developers have not been able to explain the marketing plan, therefore there is no marketing happening".
If you are selling, just do it. But you don't have to announce a sale and convince others to sell with you to make you feel better.
"I am going to sell $100,000 if this project doesn't do what I say"
Concern trolling involves someone opposing an idea or viewpoint, yet acting like they’re an advocate for the cause.
Concern trolls are usually able to get people to agree to 2-3 of their points by stating the "obvious facts" while inserting FUD statements within these irrefutable points.
A Concern troll can quickly rally emotional people to support their cause by appealing to their emotions while camouflaging the untruth within their viewpoint.
Whether intentional or not, concern trolls are dangerous because they gain power from fear, uncertainty, and doubt and can very quickly rally unsuspecting investors especially when the project is going downhill.
If you have definite evidence or proof that there is something that investors in the project should be genuinely concerned about, it will never work going into the project's community and questioning the team members because you will be banned immediately.
Here is the most effective way you can share your concerns
This way your content can be searchable by other investors who have the same genuine concern as you and you can build a very strong case against the project.
Most projects will already have a long list of frequently asked questions available, make sure you read every single piece of content ( AMAs, Voice Recordings, Pinned Post ) before asking it in public.
If it is not answered, you can ask the team members but make sure you do the following:
Good project teams are never afraid to answer any hard questions in private so that is your best bet of deciding whether a project team is legitimate or not.
It depends on how the project team wants to moderate its community. Just like how countries have their own policies of free speech, project teams have every right to decide whether they want a community with the full freedom to criticize or to rule the conversation with an iron fist.
At where crypto, we suggest clearly letting anyone who joined the ground rules and giving every member a minimum of 2-3 warnings to get used to how the group is run.
This gives other investors the confidence that they will not be silenced or they have to be fearful of what they say because there is an opportunity for moderators to correct them.
These are all interchangeably used when an investor expects the project team to "make price go up".
What investors must understand is marketing in the crypto world is heavily limited because cryptocurrency marketing is still restricted or under huge scrutiny on many platforms.
Crypto marketing is also notoriously more expensive due to these limitations because there are simply not as many marketing methods available.
However, there are also projects that can literally spend nothing on marketing and the price still goes up because they have managed to align their large community members to spread the word about the project.
Here are some common and very effective things investors can do to help
It is totally fair game shilling it on your own social channels such as twitter, stocktwits public reddit groups and tagging other projects to gain exposure when users search.
However, when it comes to community groups you must be careful.
It is frowned upon to blatantly shill your project in another project's group without contributing to the community first, never make any shill your first message, and always ask permissions before you shill.
There are also generic crypto groups that accept discussion about any token in the ecosystem, similarly make sure you engage meaningfully first before talking about your project.
Be sure to share our buying guides!
Most coin listing sites get heavy viewership from fellow investors like yourself. On these sites, there is always a trending coins section where the token that gets the most positive activity will be listed.
That does not require any money but just a few clicks from any member of the community.
There are many types of content about crypto on youtube.
Fellow investors like yourself are always looking through testimonials and reviews on projects and they will look through the video's comments to get a sentiment on the project.
You can either find the project you are invested in and tell others why you love it or find other projects closely related to yours and ask others to consider your project.
Not all content creators are fine with such comments so make sure you also engage meaningfully with their videos and the topic they are talking about.
What is the SAFU?
During unscheduled maintenance, Changpeng Zhao (CZ), the Binance CEO, tweeted out to users saying "Funds are safe."
After this, the phrase “Funds are safe” became regularly used by CZ to ensure users were aware that their funds were, in fact, safe. SAFU was probably a typo on Twitter which immediately became the preferred choice for "safety" in the crypto world.
Crypto is like the wild west and scammers are cooking up more ways to scam unsuspecting investors out of their hard-earned money.
In this guide, we will show you the most common scams and how to spot and avoid them.
We will start with 3 important tips followed by a list of common scam contributed by our community
No coin listing website, influencer or celebrity endorsement can ensure that the project is 100% not a scam.
Even the most famous rug pull event, Squid Token was listed on popular Coin listing sites and also publicised by the media before the project owners ran away with some $3.3million in funds.
Your best chance of lowering your risk of being rug-pulled is making sure the following:
Don't FOMO into any project just because you see a parabolic chart, as long as you don't lose all your money, there are always great opportunities out there that can give you the same killer returns.
The best scams work by tapping on our greed and creating immense fear of missing out, if you see a project that sounds too good to be true, 9/10 times you will lose money.
You can easily start your research from the project's community
Would you give someone your credit card details? No right?
It's the same in crypto.
Never, ever give anyone your secret phrase.
This is so important that we have to repeat it again. Never, ever give anyone your secret phrase.
Your secret phrase in the unique 12-word Secret Backup Phrase and can be used to restore your wallet on any device.
There is no blockchain application out there that requires your secret phrase to work.
Administrator of projects will never need your secret phrase or ask you to connect your wallet.
Even if you see tokens airdropped to your wallet by projects, never attempt to connect to their website because many users have their funds can be stolen that way.
How can you prevent your wallet from being compromised?
It is literally impossible not to receive a "Support Text" from a scammer after joining a crypto telegram/discord group.
These scammers will often ask you for your seed phrase or ask you to connect your wallet to a fake phishing site in a roundabout way.
The scammers are getting smarter with their gimmicks every time, these scam baits could come in the form of a "free" airdrop or scare you by saying your wallet is compromised and you will lose all your tokens unless you connect to a website to re-sync your wallet.
Unfortunately, many beginners will lose their hard-earned money this way.
If you notice in most telegram or discord groups, the administrators or moderators will clearly state ( even in their bio ) that they will never DM you, this is to prevent any sort of misunderstanding because the scammer can copy the moderator's profile exactly down to the profile picture.
Most people start with Google when they want to find an official website for a crypto project, however scammers are getting smarter and using blackhat search engine optimisation techniques, they can trick google into ranking their website on the number one result.
These techniques can usually last for days before google's algorithm catches on and if you are one of the unlucky few to search during this window period, you might land up on the fake website instead.
There is no way to tell a fake website from a real website because all the styling can be copied completely.
The best way is to get the website link from reputable directories such as Coinmarketcap, Coingecko or Wherecrypto.
Crypto users may also use the search function on discord or telegram to find the project's group and scammers know that.
That is why almost all successful projects have many fake telegram groups that ask you to connect to their website, some of these telegram groups have even more members than the real group.
There are also fake mobiles apps.
Some mobiles app promise you staking or mining rewards with your device.
While others are phishing apps for popular crypto applications such as ( Wallets or Coin discovery Applications )
Always make sure to get the official application download link from the official website.
A honeypot is a scam contract where you can buy into a project but you cannot sell.
It is very hard to determine if a project is a honeypot even by looking at the charts because the scammers can whitelist several wallet addresses for selling to make the price chart look more realistic.
The best way is to AVOID projects that do not look legitimate or make sure to always buy a small sum first and try to sell before investing a larger amount.
Some scam projects go even further to complete tax all your investment the moment you buy.
This means that you will not receive any tokens after "Swapping" your precious stablecoins for the project's token.
Again make sure to only invest in legitimate projects or invest a smaller amount to test the waters first.
A rug pull is where crypto developers abandon a project and run away with investors' funds usually by dumping the entire team's token or pulling out the liquidity of the project.
This is harder to catch unlike contract scams because it's like musical chairs where everything looks exciting and price only goes up until the developer decides to pull the plug and run.
Some tell-tale signs of a rug pull through the unsustainable marketing activities of a project. Rug pulls are a quick cash grab and the developers would definitely want to exhaust any method to make people buy their tokens so that they can scam a larger amount before anyone discovers the scam.
Pump and dump signal groups are very common in crypto where a group owner tells a group for the next token that they are going to "pump" up and then the members rush to buy into the project hoping that they can sell for a much higher price and not end up being the last one.
Unknown to the group members is that the owners have already bought into the project and will dump on them once the price hits their target.
If you are in any project's community, you can easily do your part by spreading the word and making this article a pinned post in your telegram/discord group so that any newcomers will not have their precious tokens taken away from their wallets.