Web3 is a Scam?

Don’t get into the TRAP.

Richard Warepam
Dare To Be Better
Published in
4 min readFeb 21, 2022


By now, We all have heard about Web 3 right?- If you haven't heard about it yet! C’mon, you are missing out a lot! Here, you can read this —

Somewhere in your mind — Do you think Web3 is a scam?

Hehe, It really isn’t something unusual but, a revolutionary development and a very good thing. The problem is- I think, the hype and marketing about Web3 are a little too much!

The Web3 Bubble:

When the Internet first came out in the 1990s, it was a truly revolutionary invention, wasn’t it? So, back then, there was a lot of buzz about “.com.” Many corporations began investing in “.com,” and their stock prices skyrocketed as well. So, we may argue that there was a “.com” bubble at the time, but the bubble finally burst, and those companies did not get what they expected in the end.

Currently, I feel the same is happening again with Web3 and this bubble, we called it a “Web 3 Bubble”.

Don’t invest in it if you don’t know anything about it, just because it’s popular. Learn more about it, and when you see a future for web3, invest in it!

The Web 3 Scams:

As I previously stated, the hype and marketing for Web 3 are at an all-time high right now. As a result, scams involving Web 3 are both visible and expected. So I heard about some scams in which you should not invest your time or money.

  1. Scams with Web3 Courses.
  2. Regarding Web3 Job Offers.
  3. Crypto Investments.

As a newbie in this Web 3 Space, you should be aware of all of these scams before investing.

Web 3 Courses:

These days, I have found that there are many web 3 courses that are extremely expensive. Some of them even cost nearly $2,000! Where everything they teach in those courses is almost publicly available for free, on YouTube, to anyone. All this is happening due to the high demands of these courses. This is also a kind of scam.

By all means, do not enrol in those classes!

If you need free resources to learn something in the Web 3 Space, you can follow me on Twitter and ask me about it in a message, and I will provide you with links to free resources that you may find useful to learn.

Job Offers:

If you are getting into Web 3 Development, there is a possibility that you get some job offers through e-mails from various unregistered companies or start-ups with false promises.

Don’t get excited about those e-mails.

Do your research on those companies first, and only accept them if you are very certain that they are genuine. Always bear in mind that it could also be a Scam.

Crypto- Investments:

Hey, Investment in Crypto is a good thing. I am not against it! As a beginner, many wants quick money and they invest in cryptos with the tips they get from YouTube videos. That is the issue:

They will say, “I bought these 5 coins and I made this huge amount of money”

If they’ve made that much money, why are they uploading videos to YouTube?- When they can spend that much money on having fun in life with their friends and family! It’s not a joke, those videos receive a lot of views, and I believe this is a form of scam that tarnishes the image of the crypto space among newbies.

Don’t get FOOLED by those Clickbaited Videos.

Before investing in the crypto industry, you should conduct your own research and study.


Did you find this article helpful? — If you think my observations in this article are wrong! You can also comment on your ideas below. I would love to hear about your observations too.

If you are a new reader of my articles and if you like my writings. I write about some of my personal experiences and tips of coding and all about new technical topics like Blockchain, NFTs. Please make sure you follow me on Medium. You can also check out more content on my website: https://richardwarepam.tech/blogs/

Richard Warepam, Software Developer.



Richard Warepam
Dare To Be Better

Technical Writer | Data Nerd | Developer | Business Guy | For any ghostwriting gigs: richardwarepam16@gmail.com