Asymmetric dominance, a way to fool cryptocurrency investors.

Originally Posted: Publish0x

Cryptocurrency markets and speculative trading have grown rapidly due to the effect multiple developments have had on their innovative technology and have a growing number of global supporters eager to invest in them for high profits. As a result, cryptocurrency investments are becoming more commonplace in everyday life. Unfortunately, this has led to the rise of all kinds of deceptions to attract investors, one of them, used quite frequently, is called - asymmetric dominance -.

And what is asymmetric dominance? Although you don't constantly believe it, and in almost all areas of our daily life we are facing this type of deception. Asymmetric dominance, also known as the decoy effect, is nothing more than a form of deception used to manipulate investor confidence in individual cryptocurrencies, as well as financial markets in general. One of the goals of this type of manipulation is to drive up the price of certain currencies and induce traders to make risky investments that may not be in line with their personal financial situation or specific investment goals. This type of deception technique consists of presenting two or more options in such a way that one seems more desirable than the other. Fraudsters often use it to lure unsuspecting investors into risky cryptocurrency investments with the promise of guaranteed huge returns.

This decoy effect is a cognitive bias that affects consumer behavior by influencing the decision-making process and works by displaying weak negative information next to the product. This smear effect leads them to give more importance to the good things of the product and to overlook its defects. It is commonly used in product pricing, variant selection, and other financial decisions to put people in a position where they value one option more than another of similar value. The main objective of the lure effect or asymmetric dominance is to influence investor decisions through abundance policies and help them choose their product among other available options.

This strategy, used in all types of marketing, manages to fool the consumer by adding a third option, the strategic price lure, and occurs when people tend to choose one option over the others after being presented with three options. The third option is usually less expensive than the most expensive, but it is still more expensive than the other two options. Thus, people are induced to buy the most expensive of the three available options. In this way, companies get customers who would never have chosen the most expensive one if it were not for the fact that they have a third option.

This deceptive practice often targets those who are new to investing or those who may not be aware of the risks associated with financial transactions involving the use of cryptocurrencies. By offering investors lucrative ways to make money, scammers can lure people into making investments without fully understanding what they are getting into and how their money may be at risk, in some cases these scammers will also offer false tax returns. as part of his plan to further deceive investors and gain access to their funds for tax purposes.

Many NFTs and MemeCoins have been especially susceptible to this type of deception because prices are easy targets for unscrupulous dealers who can manipulate them to their own advantage and leave investors with losses on assets over which they have no control. Although cryptocurrency investments, in a general sense, offer certain security advantages over traditional investments, investors should be aware of potential risks, such as price manipulation and volatility. The use of these psychological methods, in certain situations, causes potential investors to feel financial stress, as it can seem that the only way to make money in the cryptocurrency markets is to invest large amounts of money and people are often willing to invest more than they can afford.

The use of asymmetric dominance or lure effect in cryptocurrency trading, as a marketing strategy to deceive investors, is a method that has been tested and proven to work, most consumers will choose the more expensive option because they think they are doing a better business. Constant desperation can cause many people to ignore the risk and jump into fraudulent currencies or scams. It is important that investors do not fall for these forms of manipulation and scams.

Remember, staying emotionally balanced plays one of the most important roles in being able to predict potential fraudsters, whenever you decide to invest you should take your own risk tolerance level into account before making any decisions.

 “Everyone has their own forms of expression. I think we all have a lot to say, but finding ways to say it is more than half the battle" - Criss Jami.

"Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth" - Marcus Aurelius.

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Author's Note: The opinion expressed here is not investment advice, is provided for informational purposes only, and reflects the opinion of the author only. I do not promote, endorse or recommend any particular investment. Investments may not be right for everyone. Every investment in the market and every trade you make involves risk, so you should always do your own research before making any decision. I do not recommend investing money that you cannot afford to chair, as you could lose the entire amount invested.