When it comes to real estate, it’s a seller’s market right now. Everyone wants homes, and thanks to the demand, prices are higher than the Empire State Building. At least, that’s how it can feel to folks who can’t afford to buy a house.
iBuyers, or automated instant home buyers, exacerbate the situation. They’ll snap up homes that hit the market before a human even finds out the house is available. Tap or click here to find out how iBuyers are taking over home sales.
But there are two sides to every coin, and tech could help homebuyers just as much as it can hinder them. At least, that’s what the team behind a cryptocurrency called Realux said. They claimed they would democratize real estate through the blockchain — and investors fell for it, hook, line and sinker.
It was all a lie
From the start, Realux looked like a legitimate cryptocurrency. It had a snazzy, professional site — which is now deleted. Luckily, you can check it out on the Wayback Machine.
Let that be a lesson for you. Don’t automatically trust websites just because they look well put together.
Also, don’t swallow whatever social media influencers tell you. Do your research because they might not. In this case, Realux paid crypto influencers @AltcoinSara and Jim Crypto to hype up RLX coins.
Many fans fell for the hype and took Realux for face value, missing the red flags of a scam. Remember: Unscrupulous influencers can cost you big time. Always do your research.
If you want to spot…
