In 2020 after the halving, Celsius popped up. They promised around 6% APY over your $BTC , and a bit less for your $ETH . That would mean if you deposited 1 BTC, you'd have 1.06 BTC after 1 year. For premium users, this was 18%, netting 1.18 BTC after a year from your 1 #BTC deposit.
How ridiculous does that sound, right? If you think in "tech terms", it's worse: you deposit the real BTC into a Celsius-controlled wallet and get fake Bitcoin in exchange. Impossible to sound more like a scam than that.
Well, almost every #crypto "YouTuber" was posting about how great Celsius was and shit went fire. Celsius was the new thing, "the next game changer" in crypto finance yada yada yada, reaching news outlets and making headlines:
Needless to say, it was a scam.
Next year we have BTC's halving, which historically has ignited the bull runs. As such, scammers with looking-legit projects will be in the hunt for your money.
To identify these, a list:
High APY;
No self-custody;
Every YouTuber is advertising it;
Out of the blue with people that nobody heard of.
If you don't have single control of the wallet's seed, it's a scam. Stay away from these scams and avoid greed.
What else would you add to the list?
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