Crypto Death

Is there anything worse than a rug pull?

Yes and no. It depends on how you want to die. Quickly? Or slow and painful?

Quickly you say? Rug pulls are the answer.

Rug pulls take your money in one nice and easy shot.

The problem with rug pulls is you can see the problems if you look close enough. Most people just see the promises and jump in without checking to see if there’s water in the swimming pool.

Case in point – Mutuum.

Will this be a rug pull? Only time will tell.

I’ve heard a lot about this lending platform, which promises to make lending and borrowing as painless as can be. My one fault is for the life of me I can’t find who is behind this project.

Most legitimate cryptos splash the faces of every executive on its website. They want you to know what major corporations each person comes from and how they have 14 college degrees.

I have no clue who started Mutuum. I only know they have a logo that looks very official, almost governmental.

Defi (decentralized finance) is a slippery slope. Ideally, it’s the perfect way to lend. Realistically, there are too many flaws at this point in time. In any event, it’s not something I’d jump into even with the promise of 300% returns.

It’s easy to say “the coin only cost $0.002.”

There are 48 billion tokens in existence. At .002 they could easily walk away with $96 million. Of course, .002 is the pre-sale price. Once they go “live” who knows what the real price would be. I’m sure it will be outrageous considering all the hype I’ve read.

Of course, I could be totally wrong, and I hope to be.

But, my mind thinks back to projects like OneCoin, Thodex, Arbix Finance, and Luna. There are plenty more.

The funny part about losing your money in a rug pull is how fast it disappears.

Fear not my friends, for there is a way to still lose your crypto money, but at a much slower pace.

A slow and steady bleed is for those who use crypto exchanges. These are the guys that shake your hand while stabbing you in the back.

Admittedly, I haven’t used every exchange. There are some that had a hard time validating my ID so I gave up on them.

Coinbase is a good example. They charge for everything. I’m surprised they don’t charge you to look in your wallet. Want to buy a crypto – charge. Want to transfer one crypto to another – charge. Want to transfer to USD – charge.

I understand they need to make money, but to nickel and dime is ridiculous. I’m trying to invest, not buy a car.

God forbid you need to cash out but are staking. In some cases, it can take a week for your money to be released. Should the market crash, and after the fees to cash out, why bother?

Even if you’re successful getting all your money, you’re really not. In most cases, you’re still left with crypto dust. Crypto dust is the very small percentage of coin that’s left over since prices change constantly.

Binance used to let you exchange your dust for its token, but I don’t know if they still do.

On a quick note, I like the interface on Exodus, but again, taking your money out is an extreme pain. And very pricey.

Crypto is like flirting with death.

It can be fun and exciting, but in the end, death will find you.