Introduction
I am identifying great streams of income in which I am interested in investing. It is not always easy to find such opportunities because we have so many places where you can deposit your cash. The one I have identified was Yieldnodes because of a lot of good reviews on Trustpilot.
Trustpilot is a website where people can put reviews and share their client experiences and share them with the world. A good tool at your disposal in your research box and brings wisdom to your decisions, but you need to make your own diligence.
Something important to notice is not the magic ingredient or the secret sauce. You can be blind by only relying on good reviews written on a website like Trustpilot.
My mistake on Yieldnodes
I started the creation of my account, so this process was simple, with no hurdles along the way. As simple as you expect it from this process, and I don't want to emphasize too much energy on it.
I came at a bad time during the crypto bear market, or at least the positive reviews of Trustpilot blinded me. I wanted to invest in the platform and was prepared to make a move. Looking around on how to make a deposit into the platform and start producing juicy returns.
In the meantime, a series of 3 emails came along the way pretending they had difficulty and they want to change their business model. My intention was to invest in their core business of masternodes operation, not in a switch to have NFTs backed by real-world assets.
What I did wrong was to purchase their SAPP token that lost almost 75% of its value in a manner of one day. I wanted to transfer the token to the Yieldnode website, but this will never happen.
Another factor on their website I had some issues under the profile section, making sure I could invest the SAPP token. So I had some obstructions there too, and feel completely hopeless about making business with them.
What I did with the SAPP token
I wanted to keep it for a while to recover my loss after a decrease of 75% of the value in less than one-day. Bad reviews keep going on their Trustpilot reviews and people cannot withdraw their money. The team of Yieldnodes keep saying they needed to change their business operation to something else. Mentioned as well the urge to keep the investor fund freezing, maybe until the second semester of 2023.
It is hard to digest this loss and feel hopeless that I make a false move toward Yieldnodes. The token has surged a little during the last 24 hours and I sold what I could recover from the purchase.
I know it sucks when you want to invest, and on the contrary, you lose money. Nothing is guaranteed in the crypto sphere and always applies this adage. Always invest a small amount of money and never go all in with one project. This provides a way to keep your liquidity afloat and not lose everything under one project.
Just writing about this issue took me one hour to find the energy. Nothing cool to lose money in a scam!
Conclusion
Never jump too quickly into an opportunity when it seems too good to be true. You can be blind and make a false move as I did. The current market condition makes bad projects disappear.
To be honest and transparent, I feel a little hurt inside, but I would recover from it. I would make more research from now on before jumping on the next juicy opportunity!
Difficult to be an investor in the crypto sphere!
@Cryptsnowball