Imagine this: You’re scrolling through Telegram, minding your own digital business, when suddenly, a message pops up. It’s from someone you’ve never met, but they found you in a shared group—a serendipitous digital crossing of paths. Intrigued, you engage, only to be introduced to another figure, a mysterious character in this unfolding digital tale. The plot thickens: they’re on a quest, searching far and wide for individuals who stand tall, quite literally, in the crowd.
But it’s not just about stature; it’s about ambition, the drive to scale new heights. And in this case, those heights are paved with the shimmering allure of cryptocurrency. They speak of a golden opportunity, a chance to join forces and venture into the vast, volatile sea of digital currency together. It’s an adventure that promises the thrill of the chase and the allure of lucrative rewards. What lies ahead? Only time will tell. But one thing’s for sure: in the digital realm, where fortunes can be made and lost in the blink of an eye, every message could begin a new journey.
If you would like to earn on crypto, you can choose more safety ways. I have shared my experience in other articles, for example, about how to earn on a TON project or trading quantum strategy. In this short article, I would like to prevent you from losing your money because of unknowns. Scammers become smarter, and their methods become more and more cruel. Take 2 minutes to read to save your money.
How Beta Testing Scammers Act? (Scam story)
The legend is that they are searching for people who would like to earn with them on crypto.
In Bali, I met a 23-year-old who had figured out how to make a fortune online. Curious, I asked if he could teach a friend of mine. He asked me, “Why would I create my own competition?” That hit me hard. It was a clear lesson that people who know how to make money, especially in areas like investing and crypto, aren’t going to share their secrets easily.
Since my twenties, when I started exploring investments and cryptocurrencies, I’ve been looking for scams. I’ve learned to dig deep to understand how each scheme works. The journey taught me that offers of easy money are usually traps for the unwary.
He inquired about my experience with cryptocurrencies. After I shared a brief overview, he quickly suggested we have a short call.
Next red flag – personal talk.
Scammers will try to make you an emotional maker; the primary things they operate on are your time and attention.
After the short talk, he offered to try to earn on beta testing.
What is beta testing?
Beta testing in crypto projects shares the core principles of beta testing in software development, tailored to the unique environment and requirements of the cryptocurrency and blockchain industry. This phase involves releasing a project’s features—such as smart contracts, decentralized applications (dApps), platforms, or even new cryptocurrencies—to a selected group of external users before a full-scale public launch. The goals and processes are similar to traditional software beta testing but with a focus on aspects critical to crypto projects:
Crypto projects often engage the community through beta testing phases, rewarding testers with tokens, exclusive access, or other incentives. This approach helps refine the project and builds a base of early supporters and users. Given blockchain technology’s experimental and rapidly evolving nature, beta testing is a critical step in the development process, ensuring projects are robust, secure, and ready for the wider market.
Remuneration
Remuneration for beta testing in crypto projects can vary widely and depends on the project developers’ goals, budget, and policies. Some projects offer compensation or incentives to beta testers, while others might not. Here are a few common forms of remuneration or incentives that might be offered to beta testers in crypto projects:
Tokens or Cryptocurrency: Many crypto projects offer tokens or a certain amount of cryptocurrency as a reward for participating in the beta testing phase. This compensates testers and encourages the use and holding of the project’s tokens.
Early Access: Beta testers might be given early access to features or services available on the platform. This can be considered non-monetary compensation, especially if the project is popular.
Exclusive Features: Some projects might offer exclusive features or benefits to beta testers once they go live. These could include lower fees, special statuses, or access to premium features.
Recognition: Recognition within the project’s community, such as being listed on the project’s website or receiving a special badge or title, can also be a form of remuneration. For many enthusiasts, being acknowledged as a contributor to a project’s success is highly rewarding.
Swag or Merchandise: Physical items such as T-shirts, stickers, or other branded merchandise might be offered as a token of appreciation for beta testers’ contributions.
Free or Discounted Services: If the project involves a service with a subscription fee, beta testers might receive free or discounted rates.
How to track beta testing?
Getting involved in the beta testing of a crypto project requires staying informed and connected with the cryptocurrency and blockchain community. Here are several strategies to discover beta testing opportunities in crypto projects:
- Crypto Forums and Communities: Engage with crypto-focused forums like Bitcointalk, Reddit (subreddits like r/CryptoCurrency, r/ethdev, r/Blockchain, etc.), and others. Developers and project teams often post calls for beta testers in these communities.
- Social Media: Follow crypto projects, developers, and influencers on social media platforms like Twitter, LinkedIn, and Telegram. Announcements about beta testing phases are frequently shared through these channels.
- Crypto News Websites: Visit cryptocurrency news websites and blogs regularly. They sometimes feature articles on upcoming projects that might be looking for beta testers.
- Blockchain Events and Conferences: Attend blockchain-related events, conferences, and meetups, either virtually or in person. These gatherings can provide networking opportunities and information on projects seeking beta testers.
- Project Newsletters and Blogs: Subscribe to newsletters and follow the blogs of projects you’re interested in. Updates about beta testing opportunities are often communicated directly to subscribers.
- Developer Platforms: Platforms like GitHub, where developers host and share their project codes, can be good places to find projects in their early stages that might require beta testers. Engaging with developers here can also lead to direct invitations to beta test participation.
- Direct Contact: If you’re particularly interested in a project, consider contacting the team directly via their official contact methods to express your interest in participating in beta testing. Showing genuine interest and highlighting relevant skills or experience make you a strong candidate.
- ICO Listing and Crypto Project Platforms: Websites that list ICOs or track the development of crypto projects can also provide information about projects entering the beta testing phase.
Remember, while engaging in beta testing can be exciting and rewarding, conducting your research is important to ensure the project’s legitimacy and understand the risks involved. Always use caution when interacting with new projects, especially those requiring you to invest money or share sensitive personal information.
3d red flag – scammers use emotional triggers:
- Let’s try today, and you will earn almost today.
- You will see that you can trust me.
- You will earn a lot of money, and I will show you more options.
- Do you know what compound interest is? My guys earn 50% from the initial deposit in a week.
4th red flag – they always stay with you.
Time and attention. Scammers will follow you on each step and try to do all you won’t contact any other person\ consult with someone\ or investigate the field. Most importantly, you can’t find the information from open sources.
In my case, it is because “The info is very expensive and from insiders.”
When my colleague entered the room, he asked me if he didn’t disturb me to be aware I was with him.
Beta testing scam
We accessed the exchange account, and he mentioned that I could use any account that fits my preferences. He also noted that the starting amount could be anything, even as low as $50, just to help me understand the process.
Then we buy the coin WAXP and
asked to copy the MEMO code
MEMO code—In cryptocurrency transactions, is an additional identifier for sending funds to shared or centralized wallets, much like an apartment number within a large building. It’s crucial for transactions on networks like Stellar or Binance Coin, where many users share a single wallet address but have individual MEMOs. Including the correct MEMO ensures the funds reach the recipient within the shared wallet. Failure to include a MEMO, when required, can lead to misdirected funds, necessitating support intervention to recover.
And then I should transfer funds to testnetwax15
Of course, with a MEMO.
Then, in 10 minutes, I received the sum I invested + 3% from this sum.
But we needed to do it together three times, and then I could earn it myself.
The key moment came when I mentioned investing $1000, at which point the scammer said he wasn’t interested in guiding me if that was all I was considering. However, this contradicted what I was initially told—that the minimum investment amount was irrelevant since their take would be 50% of the total profits.
And then I told him I didn’t think I was ready for 5k. He asked me to proceed and then to think. Of course, if I see good returns a couple of times, my greed will be on top.
On the internet, there is no info about WAXP beta testing. But I found this wallet:
The main point is to make you believe that you will receive a return on your investment on a low sum and that when you deposit a huge amount, you will lose it forever.
As you can see, WAXP had a team of testers. Always check official documents. For example, WAXP Whitepaper.
Remember that all airdrops and various marketing events are announced through official channels.
In a future articles, I’ll delve into the most effective cryptocurrency earning strategies, providing practical insights and methods.
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