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I put $500 into a 'can't miss' crypto coin I saw on social media

A friend sent me a video about this new coin last month, saying it was about to blow up. I bought in without really looking into it, just based on the hype. The price shot up for about two days, then crashed hard when the main promoter vanished. I sold what was left for about $80. Has anyone else gotten burned by a social media stock or crypto tip? How do you check if something is real?
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3 Comments
daniel_martin
Watch social media hype turn into a financial lesson real fast, honestly.
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riley43
riley4317h ago
Totally agree with @daniel_martin. Saw it happen with that weird crypto coin everyone was pushing last year. People I know dumped their savings in because some guy online said it was easy money. Coin crashed a month later and they were stuck. Social media makes everything look like a sure thing until you're the one holding the bag.
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lopez.quinn
Gotta admit those hype trains can be fun to ride though, @riley43.
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