Misleading TikTok Videos: A Deeper Look into the Cryptocurrency Influencer Dragon’s Den

On April 22nd, according to research by DappGambl, over one-third of encrypted TikTok videos are misleading. Among them, 47% of TikTok creators attempt to make money by promoting services, including mainstream creators such as Kim Kardashian, Jake Paul, and SouljaBoy. In addition, TikTok videos with encryption related tags, such as crypto, cryptok, cryptoadvice, cryptocurrency, cryptotrading, and cryptoinvesting, have generated over 6 billion views in total.

Research: More than one-third of encrypted related videos on TikTok are misleading

Since its inception, TikTok has become increasingly popular, with millions of users using the app every day. As a result, we have seen a surge in the number of creators who use the platform to promote themselves, their products, and their services. One of the most popular topics among TikTok users is cryptocurrency.
On April 22nd, DappGambl published research that exposed how over one-third of encrypted TikTok videos are misleading, and out of them, 47% of them are promoted by some of the most popular mainstream creators, such as Kim Kardashian, Jake Paul, and SouljaBoy. These revelations bring to light the issue of misleading TikTok videos that users encounter when looking for trustworthy information on cryptocurrency.
# What is Dragon’s Den?
If you have been browsing TikTok lately, you might have come across a group of cryptocurrency influencers called Dragon’s Den. The group comprises some of the most prolific cryptocurrency traders, and they claim to offer honest advice and help their followers make profitable trades.
Although Dragon’s Den touts itself as a reliable source for advice on all things related to cryptocurrency, they still have a high number of misleading videos on TikTok. The majority of these videos are related to persuading users to invest in unproven and unregulated cryptocurrency projects. Many of these projects have no real-world use cases, yet they are advertised as the future of money.
# Misleading TikTok Videos on Cryptocurrency
According to DappGambl’s research, over one-third of the encrypted TikTok videos that are tagged with cryptocurrency-related terms such as crypto, cryptok, cryptoadvice, cryptocurrency, cryptotrading, and cryptoinvesting are misleading. These videos attract a considerable number of views, with over 6 billion views in total.
Many of these misleading videos are from cryptocurrency influencers who promote unregulated projects, which have little to no real-world use cases or fundamental value. One such project is Safemoon, which is heavily promoted by many creators on TikTok, despite being a high-risk and unproven investment.
# Why Are Misleading Videos on TikTok So Popular?
TikTok’s algorithm promotes videos based on their popularity, irrespective of whether they are factual or provide accurate information. This approach allows creators to reach a massive audience, even if they are not knowledgeable about the products or services they promote.
Moreover, the app’s short-form content format makes it challenging for creators to provide in-depth analysis or context behind the products they promote. This lack of context encourages users to take investment advice as gospel, without researching the product or consulting financial experts.
# The Impact of Misleading TikTok Videos
Misleading TikTok videos can have a significant impact on users’ finances, especially those who may be new to cryptocurrency or do not have a thorough understanding of its intricacies. Investing in unregulated and unproven projects can lead to severe financial losses, and users who do not conduct their own research can fall victim to scams.
# How Can Users Protect Themselves?
It is essential to understand that TikTok is not a reliable source of financial advice, and users should avoid risking their money based on the opinions of influencers. Instead, they should conduct detailed research and consult financial experts before investing their hard-earned money.
# Conclusion
Cryptocurrency has become an attractive investment option for many, and TikTok influencers have taken advantage of its growing popularity. As a result, misleading TikTok videos are prevalent, and they can be detrimental to users who do not conduct their research. Users should protect themselves by avoiding unregulated projects and consulting financial experts before making investment decisions.
# FAQs
Q1. Who are Dragon’s Den?
Ans: Dragon’s Den is a group of cryptocurrency influencers who offer advice on cryptocurrency trading.
Q2. Which celebrities promote misleading cryptocurrency videos on TikTok?
Ans: Celebrities such as Kim Kardashian, Jake Paul, and SouljaBoy promote misleading cryptocurrency videos on TikTok.
Q3. How can users protect themselves from misleading TikTok videos?
Ans: Users should avoid unregulated projects, conduct research, and consult financial experts before making investment decisions.