(and what you should actually do)

So, you’re taking crypto tips from the same people who sold you detox teas and flat-tummy shakes? 🤔 Yeah, we thought so. Celebrities might be great at posing on yachts, but when it comes to navigating the crypto space, their track record is… let’s just say, less than stellar.

Let’s have a looksy into some of the biggest crypto fails from celebs, and more importantly, why you should avoid their advice like a bad 90s haircut.

Let’s start with Kim Kardashian, who got slapped with a $1.26 million fine from the SEC for promoting EthereumMax to her 250 million Instagram followers without disclosing it was a paid ad. She’s great at selling makeup, but clearly not as good at picking crypto projects. Then there’s Tom Brady, who you’d think, with all his strategy skills, would know how to make a good play. Unfortunately, his association with FTX left him scrambling when the exchange imploded in a spectacular flameout. Let’s not forget Floyd Mayweather, who’s been tangled up in promoting several ICOs that were basically garbage. The SEC even fined him for failing to disclose that he was being paid. I guess dodging punches doesn’t make you great at dodging bad investments.

Here’s the thing: Celebrities aren’t crypto experts. They’re just figureheads, and in most cases, they barely understand the basics of blockchain, let alone the projects they’re promoting. They’re paid to sell a fantasy, not reality. Their role in this space is simple—get their fans to buy in. And whether or not you end up losing money, well, they’ve already pocketed the paycheck and moved on to the next endorsement.

What’s worse is that celebrities can afford to lose big. They have mansions and million-dollar contracts to fall back on if things go south. You? Not so much. When your investment tanks, you’re left holding the bag while they’re back to living the high life, probably promoting another crypto project that will fizzle out just as fast.

If you really want to get into crypto without getting burned, you’re going to have to put in a little more work than just scrolling through Instagram for hot tips. The first rule of crypto investing is to always do your own research. Yeah, it’s more boring than taking advice from your favorite actor, but it’s also the difference between making informed decisions and gambling your money away. Learn to dig into the projects, understand the technology, and figure out if there’s a real-world use case for what you’re buying. If you can’t explain it in simple terms, you probably shouldn’t be throwing your cash at it.

You also need to be selective about where you’re getting your information. Instead of looking to influencers and celebrities, focus on credible sources that live and breathe the crypto space. There are plenty of analysts and experienced voices in the industry who offer sound advice without the celebrity glitter. Sure, it’s not as exciting as hearing it from someone with a blue checkmark, but it’s a lot more reliable.

Another red flag to watch out for is hype. Celebrities thrive on it, and they’re paid to sell it, but you need to stay skeptical. If a project is being pushed with flashy promises of insane returns, question why. Hype without substance usually means someone’s about to cash out, and it won’t be you. Pay attention to the fundamentals of the project, not the marketing blitz surrounding it.

Finally, don’t feel like you need to go all-in on any one project. Tom Brady might be able to throw millions at an exchange that later crumbles, but unless you’re a Super Bowl MVP with money to burn, start small. Crypto’s a rollercoaster, and while you might catch a wild ride up, the drops can come out of nowhere. Only invest what you’re willing to lose, and keep your investments spread out. That way, if one project goes belly up, you’re not left wondering how you’re going to pay rent next month.

So, what’s the takeaway here? Celebrities can be great for entertainment, but when it comes to crypto, they’re about as useful as asking your Uber driver for stock market advice. You’re playing with real money, and that means you need to rely on real knowledge, not someone paid to post about their “new favorite coin.”

The next time you see a celeb hyping up the next big thing in crypto, remember—they’re getting paid to say that. You, on the other hand, are risking your own cash. Make sure you know what you’re getting into.

And if you’re tired of scrolling through bad advice from celebs, stick with us. We’re here to give you the real scoop on what’s happening in the crypto world—no hype, no BS, and definitely no celeb endorsements. Sign up for our newsletter to get tips from people who actually understand crypto, not just those pretending to.

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This article was aided in writing by AI and edited and reviewed by our editor.