Its all too easy to blindly buy every crypto or enter an ICO based off some flashy YouTube Analyst information. Of course there are many legitimate YouTube reviewers but there are a few bad eggs which have different intentions than giving you legitimate information. YouTube, Twitter and other social media outlets are sprawled with these pimps but what makes them so untrustworthy? The fact that they are most likely incentivized to promote a certain coin on their social media outlet for personal gain.
For instance if you look at the following screenshot of a the YouTube video and you see an affiliate link circled in red.
Above you can straight away tell that they promoter is getting an incentive for you signing up to this ICO (most likely in bonus tokens).
Others like to promote ICO’s solely to create hype so that they are well positioned when the coin gets listed on exchanges, so they can dump it straight away.
Of course none of these thing mean that the ICO’s are necessarily bad or that the reviewer isn’t providing some good facts but its important to know that the review is skewed into the positive light for personal incentives of the reviewer.
This is why it is no important to for you to do your own research before purchasing any currencies or participating in ICO’s.