How to make your own cryptocurrency scam

let's make a scam coin it's a very easy to make a cryptocurrency it's very easy to market to buy reddit posts to buy twitter comments to buy influencers i myself have been approached by multiple cryptocurrency groups and coins and exchanges and i just ignore it because i don't want to sell out my audience but i'm going to show you in this video how a cryptocurrency is created how it can be marketed how it's misleading and how you can avoid all of this so here are the time codes if you just want to make that jump but before you do i would appreciate it if you like this video because it helps me out okay okay this video is for entertainment and educational purposes only do not do this but really though it is important for you to understand how making a coin works so you can better protect yourself from these types of scams these pump and dumps happen and they they always get the new people you don't want anyone to dislike cryptocurrency and blockchain technology that's gonna set back the entire space we want blockchain and crypto to be adopted by everybody and it should be a comfortable space where people don't get scammed market cap a lot of people don't understand market cap so if we make a huge coin supply you know people go for trillion we're going for quadrillion cajillion whatever is after trillion we're going for that we're going to make the per coin price so small people are going to think it's dirt cheap and they're going to have millions of this worthless token and if you're not familiar with market cap this is how it works market cap is determined by coin price times the circulating supply then you have the fully diluted market cap coin price times the total supply so you can see that the price per coin is very different among all these cryptocurrencies with trx being worth 8.8 billion dollars in monero being worth 6.8 billion dollars you can see that the per coin price with trx is much cheaper than xmr that's monero but if we were going to invest in the cheaper currency it would be the one with the lower market cap because the coin supply for trx is significantly higher so let's say i buy one thousand dollars worth of any of these coins this is how many i'm gonna get the amount of coins i get doesn't really matter what matters here is the market cap so if i want a 100 percent gain with monero it would have to increase by 6.8 billion dollars for trx i would need 8.8 billion dollars so it would take less money for me to get a 100 gain you go with the coin with the cheaper market cap another example let's take a look at these coins again and let's say they all have the exact same market cap if they have the same market cap they are the exact same price the only difference is their circulating supply so you have to divide their market cap by their circulating supply and then you get the coin price so even though a coin is worth less than one cent significantly less than a penny it doesn't mean it's cheaper it doesn't mean that's the better deal we should only be looking at market cap but if we are making a scam coin we want the highest coin supply possible so people think the coin is cheap what do you think is heavier a pound of feathers or a pound of lead let me know in the comments all right i gotta keep stressing the point of market cap so let's do one more let's say you have two apples one apple is cut up into two pieces another apple is cut up into one million pieces how many apples do you have you have two apples even though one apple is cut up into multiple pieces the overall substance you have is an apple let's consider that a market cap and coin supply and the market cap is the value of that apple you have one apple and apples are going for 10 the market cap of that apple 10 same thing with the other apple in millions of pieces that's still one apple and apples still cost the same amount so remember coin price is nonsense always look at the market cap coming up with a coin name so we want to create something where people think they're going to make a lot of money that the coin is going to moon that they're going to feel safe but it's something or it's similar to doge so let's just type in doge oh there's 15 results with the name doge so that might be a crowded space let's uh let's skip that let's look up moon okay there are 53 coins with the name moon in it so we might want to skip that one let's see safe there are 37 coins with the name safe in it so uh we might uh might want to skip that when coming up with a cryptocurrency name a lot of these projects don't want you to think they just want you to immediately associate the name of that coin to be safe and that you're going to make money or that it's very similar to an existing successful coin so if you are going to make a scam coin those are the things you should consider if you're trying to avoid scams those are the things you should consider the costs of starting your scam coin all in all it might cost you a little less than six thousand dollars to get started you have to launch your coin if it's going to be on the will be eco chain finance smart chain is really popular or on ethereum now i'm going to avoid ethereum because the gas fees are insane so that's not an option binance smart chain is a little pricey but you have a lot of users so you're gonna see more scam coins on binance smart chain and to launch that coin it's gonna cost you 0.784 bnb and that's about 455 dollars as of the making of this video and then after you make your coin you're gonna need to make a website and some videos you could do this yourself there are a lot of website building templates you can do a lot of free trials you're not in this for the long run so you really don't need that domain or website for very long influencers you can buy influencers as an influencer myself i get a lot of requests from scam projects and i just ignore them i i don't want people to lose money and that's why i'm making this video so you kind of understand this entire process you can buy tick tock influencers youtubers twitch streamers and reddit posts so that's pretty easy to do with tiktok a lot of these young kids have big audiences and they don't make much money with the tick tock creator fund some of them might make a thousand dollars a month and that's if they have millions upon millions of views each month and if we're going to take advantage of anyone we want to take advantage of people who don't understand finance so if you're a bad person and want to scam young people this is how you do it you buy tick-tockers now this is just awful i don't support any of this i just really want you to understand this is what's happening and we can also buy posts on reddit and a lot of other places it can be reddit medium quora linkedin and trustpilot so let's see how much it costs for one reddit post so we want some upvotes we want 200 upvotes that's 30 bucks and let's see the add-ons now we want 10 engaging comments that's gonna cost us another eight dollars so that's 38 dollars for upvotes and comments to promote your cryptocurrency it's really that easy to take advantage of reddit and these other social media sites now let's say we want to buy some posts on twitter for 10 comments that will just keep saying the name of our coin it's gonna cost two bucks it's going to cost two dollars for 10 comments we're going to want to buy a lot of these comments and we're going to want these comments to be on the twitter pages and posts of popular exchanges influencers and cryptocurrency projects so if you ever see a crypto project mentioned in a comet do your research the likelihood of that being a scam could be very high and altogether with a budget of less than six thousand dollars you can get your cryptocurrency started you can start your pump and dump and become a billionaire if uh you know how to pump it really well yeah yeah i'm hearing it too now not not the greatest phrase to say uh or take out a context so that's how that scam works if you want to invest in your own cryptocurrency scam it'll cost you less than six thousand dollars to get started and you don't even have to be that tech savvy so with that let's start a coin making a cryptocurrency so it's very easy to do as we went over the prices earlier we're going to want to make a coin on binance smart chain so we're going to want to connect our wallet we're going to connect our trust wallet and we're going to need some binance token in there and then after you connect your wallet we're going to create a binance token over here look for the binance icon and then we're going to create a beb 20 token that is a binac smart chain token kind of like the erc20 token this is a binance token bep20 and then we come up with a name for our token so let's say moon safe and we'll call it moon safe and this is the initial supply you can put any number here most coins really don't go over one trillion but there's a few brave enough to go beyond that so let's say 1 000 million billion trillion kajillion and then you can set your other settings here can burn deflation pause that's you kind of just freeze the network but let's just say create token and i don't have my wallet connected it's really that easy though once you connect your wallet you just have to confirm that you want to create the token and then you pay that fee but once all these tokens arrive what do you do with them you can't just have them sitting in one wallet you're gonna want to have them sitting in multiple wallets so you can create a lot of wallets very easily so if we go back to the binance section here we go to batch wallet generate and let's say we want to have a significant portion of all these tokens let's say 90 percent of them and we want to hide them in 1 000 different wallets we can do that we can even go higher than that but it's going to be really hard to manage so let's uh do that and here we have it it is that easy it is generating all the wallets we need that is the wallet that is the private key and this is how we can access it if we want to restore that wallet to uh trust wallet or anywhere else we can just copy it here and we can export all this data it's very easy for a scam coin to say oh we only have a few tokens we all this is our developer wallet this is our burn fund whatever you can have thousands of wallets slowly bleeding out the liquidity of the project as they're cashing out and taking advantage of people through this pump and dump it's just a much slower dump but it's very easy to do and then you're going to want to distribute those tokens also very easy to do through the coin tool app so you go back to this binance section and then we can select bsc token multi-sender that you can airdrop tokens you can batch send them and that's how you can distribute these tokens to all of your wallets you own a majority of the supply and then you dump the rest on victims so this is how that works don't be a victim it's this is very easy to do and if you're using the coin tool app anyway they have a lot of features for different types of coins and you probably won't even notice it but you can scroll down and if you scroll down here there is a section that just says happy let's click that and demonetize we got to get out of here all right so yeah i've used the coin tool app there's a lot of features here for multiple tokens for creating your token distributing it collecting it making airdrops and this is for the wobby chain finance chain uh ethereum tron chain is synth working when i tried using it so uh be aware of that listing your token so you can easily start trading your coin on the buy net smart chain with pancake swap now you're gonna want some trading volume there so you're gonna have to have two wallets set up or they're just buying and selling the exact same tokens as you're building up that fake volume you're also going to be promoting your coin through multiple social networks reddit twitter tick tock youtube to get more people's attention as they see the coin price is really cheap that's when the suckers come in and start buying that coin now if we want to list our coin on more exchanges we can pay for a listing a lot of these exchanges have a very low bar for getting in they just want to see trading volume so they make money they are not interested in the quality of the project which is why you won't see any of these scam coins or any of coin that has been out for a month on binance or coinbase they are very selective of their projects and they have to go through a very thorough vetting process before they get listed so if you are an investor and you want to get in new coins i highly suggest looking at coinbase ventures see what they're investing in and look at the binance launch pad see what binance is investing in and what they're going to be launching soon and if you should invest if it's a good project and you believe in it making your website now you don't really have to make anything too complicated you just have to be very direct from the home page you can even have home just put home there you can sell merch and make a little extra chatter you can put in your white paper most importantly show how to buy your token the safe moon contract and buy now basically those are three buttons that lead you to buying the coin and for your team you could put whatever no one really checks these things as long as there's a picture up there you can steal that off the internet or anything and people do not do a reverse google image search even though they should and as a scam project you have to idolize this one they have over 1 million holders very few projects have over a million holders and them being around for a month very impressive with a market cap in the billions so this has been the most impressive scam project if you are a scammer look up to these guys these guys know how to do it as an added bonus you can check out their funding page and yeah that's the first image you see and they have a fundraiser to raise one million dollars so they can make their own exchange these guys got seven hundred seventy three thousand dollars was the cryptocurrency for you to fund them to make their own exchange now why does that matter uh yeah that's too much money you can white list an exchange you can make your own crypto exchange for a few thousand dollars that is not very hard to do but a quality project will get listed by exchanges that is just going to happen and this guy got three quarters of a million dollars i highly recommend watching this video from the home page just hit the funding page because there's no link anywhere else let's just watch a little i'm the the statement ceo this video is 48 seconds and he doesn't remember any of this if you're developing a project you know it inside and out you don't really need a teleprompter or a script you know what you're working on so they're trying to raise a million dollars uh from other tokens and as you can see they don't even accept their own token [Applause] yeah i'm sorry if you invested in this um but if you are going to be a scammer look up to these guys they know how to do it making your commercial you got to make a pitch to people to invest in your coin so you want them to focus on they're going to make money fast don't focus on the technology focus on them making money by holding the token and that they just keep getting rewards obviously this project has no technology behind it we're just riding the coattails of existing tech and we're just going to try and market it better so let's make a commercial hi do you want to get rich quick with cryptocurrency you can buy this coin and you'll be super rich to the moon and some of the safe moon army if you're out there and you're watching this video and you're trying to defend your investment that's okay i'm i'm not invested i don't like money i'm on the other side of this i support safe moon as a scam i'm like yeah they're doing a great job there is no other coin out there that has been out for a month got 1 million users and a market cap in the billions in a month it's very impressive it has shown us all the power of social media the power of uh the group mentality and even though i'm not an investor it's just very entertaining just watch now if you are invested in it or you've been scammed before it's a lesson i'm sorry that's just what it is there are so many crypto scams out there i've been scammed when i first started and i learned a lot i learned about investing in a quality project a quality team and making sure it's a project that lasts a long time i am very scared to invest in any coin that is not listed on a semi-major exchange especially if that coin only trades on a swapping platform like uniswap or pancake swap that's a very dangerous coin we don't know how long it's gonna last we don't know if it's gonna dump and the coin can say anything any new project they can say whatever they want they can write anything they want on their white paper they could say this is a impressive roadmap they can say yeah we got partnerships with uh binance uh toyota nike whatever they can say all of that and they don't have to justify it you gotta remember none of these projects are regulated they can say whatever they want once they get your money they're gone is there a penalty for them do they get arrested no they just disappear that's the that's the bad part about cryptocurrency and if people get scammed like a million people get scammed then we have more regulation in cryptocurrency and that's just bad for everybody that's what happened with icos in 2018 a lot of people fell for icos i did too because they can say anything and you're giving your money to them up front so with that i hope you learned a lot i hope you hit the like button that helps me out and you got your full value for today [Music] you

Channel: Full Value Dan

Views: 426,400

Keywords: create your own cryptocurrency, cryptocurrency scams, how to make a cryptocurrency, create your own cryptocurrency on ethereum, create your own cryptocurrency bsc, create your own cryptocurrency coin, create your own cryptocurrency blockchain, how cryptocurrency scams work, biggest cryptocurrency scams, cryptocurrency scams 2021, crypto, bitcoin, ethereum, safemoon, scams, cryptocurrency for beginners, cryptocurrency to invest in 2021, cryptocurrency for dummies

Id: BGul38vjlGk

Length: 19min 54sec (1194 seconds)

Published: Thu Apr 22 2021

Reddit Comments

[u/jcn50ie]

If you can watch the whole thing: your patience will be well rewarded!

I watched this many months ago~ the Butters will say "central banks create currency out of thin air"....well it's even worse in their case: you don't even have the paper to wipe your a$$ with banknotes.

[u/gprime312]

I wish I didn't have a conscious. I'd be so rich.

[u/Wrong-Ad5755]

Stop! my Friend told me if you really want to make money in crypto he said to me .That's so easy we as group of scammers start a crypto then we have multiple wallets and trade with each other as if there is a demand to prop the coin up ,then we pay a few YouTubers to promote our coin ,once we hits desired market cap ,we start dumping our coins and give it to the bagholders .they we start another coin and rinse and repeat . And it's perfectly legal.

[u/SpicyNoCoiner]

Some of the most successful scams like OneCoin didn't even have an actual cryptocurrency. Yet another L on the use case side of things.

[u/H__Dresden]

Wow! This really opens your eyes to how easy it is to scam using crypto. They make it so easy. Poof, fools hand over money.