Topic: How would we know which cryptocurrency would be Scam? - page 10. (Read 3150 times)
No one knows for sure. You could just participate or not and Malle your own forecasts about campaigns or projects and only when it finished you will know it.
There are different ways of identifying cryptocurrency scam. I am not an expert but have a little bit of knowledge about Cryptocurrency. The best way is to research white paper neatly. And you might some good ideas whether it is a scam or not. I already involved with a new Cryptocurrency project @SciDex. I also researched their white paper already. Looks like everything is clear.
I am a newcomer, so I am very anxious in choosing projects because I am afraid that electronic money may be Scam. My friend shared, the choice of project to avoid Scam needs to be alert and feel with his experience. Depending on the content of the project, the participants of the project are transparent and reputable. There are many other factors, but empirical reasoning is very important.
Remember, most projects are phishing.
Remember, most projects are phishing.
Everything is under hope and faith so we don’t know what happens next but the experience will teach a lot to make some good decisions and also gives some good vibes to us.
Until it is scamed we don't know how to identify the scam ICO because most of the scam ICO are very active with the community and other legit projects will do same but it is hard to find the good project.
Small disclaimer that I use scam here in the broadest possible sense... To include, for example, coins and projects that are not entirely upfront.
In that regard, I would consider almost all ICOs scams... Except for those raising funds specifically for growth or expansion. But new blockchains? New projects? If you're raising funds to start an idea and need to hire devs to do ahit for you then I'm sorry you're out for profit not innovation.
Second related sign. Non open source. If you're not sharing, you're hiding something or have nothing to show. Scam from the get go.
In that regard, I would consider almost all ICOs scams... Except for those raising funds specifically for growth or expansion. But new blockchains? New projects? If you're raising funds to start an idea and need to hire devs to do ahit for you then I'm sorry you're out for profit not innovation.
Second related sign. Non open source. If you're not sharing, you're hiding something or have nothing to show. Scam from the get go.
Cryptocurrency can't be a scam if it simply exist in the market for trading. You might be referring to the volatility itself but that isn't the idea of the scam anyone can refer into because nobody can really reduce up to 99% the risks involved in cryptocurrency, it could be determined by luck. Are you referring to ICOs? It could be hard to determine the legitimate ICOs these days especially if you're just truly a bounty hunter without even trying to get in through the checks needed for you to be sure that ICO will pay after it ends.
As of now there are 1500+ cryptocurrency exists in the world.
Many dead many rising and many has to come.
So how can i know the currency ,where i am putting my money is not a part of scam?
Or is there any other way so we can check about respected crypto might be it'll work?
I guess there is no way we can determine which is a scam. In fact almost all cryptocurrency that was created has a value, it is better to research first and better annalization which cryptocurrency will exist in the long run and in the future. Many coins have created but not all of them will still manage to have a good value in the future. You can always check the market for you to monitor which coin is better. This maybe will prevent you from being scam. Many dead many rising and many has to come.
So how can i know the currency ,where i am putting my money is not a part of scam?
Or is there any other way so we can check about respected crypto might be it'll work?
In fact, the ICO level is even the easiest time to flag down a project that is a scam or not. One thing I always say to people is that if your mind is not comfortable with the project and you are seeing the investment you are about to do as a gamble, then do not gamble it.
You can just wait for the project to hit the market, see how it fairs, which is if you have the desire to still want to hold. The team that has worked on a project before and have an old profile with some reputations on linkedin cannot be compared to a team that just opened a professional account.
You can just wait for the project to hit the market, see how it fairs, which is if you have the desire to still want to hold. The team that has worked on a project before and have an old profile with some reputations on linkedin cannot be compared to a team that just opened a professional account.
(1) Read the white paper (focus on their economic model)
(2) check the founders
(3) check the website.
You can use an a-priori probability of ~97% that you are looking into a scam/unprofessional garbage. So only if you have been amazed by the above mentioned 3 topics and have no doubts whatsoever, there is some chance that you are looking into something worth more than nothing.
(2) check the founders
(3) check the website.
You can use an a-priori probability of ~97% that you are looking into a scam/unprofessional garbage. So only if you have been amazed by the above mentioned 3 topics and have no doubts whatsoever, there is some chance that you are looking into something worth more than nothing.
There are many things you are suposed to check
Check if the team disclose their identity, check their btt account and LinkedIn account, check token metrics and their project if its achievable
Check if the team disclose their identity, check their btt account and LinkedIn account, check token metrics and their project if its achievable
As of now there are 1500+ cryptocurrency exists in the world.
Many dead many rising and many has to come.
So how can i know the currency ,where i am putting my money is not a part of scam?
Or is there any other way so we can check about respected crypto might be it'll work?
Many dead many rising and many has to come.
So how can i know the currency ,where i am putting my money is not a part of scam?
Or is there any other way so we can check about respected crypto might be it'll work?
i think there is no cryptocurrency scam but only the one who make the coins sometimes are scammer. yes,there so many coins in the crypto market but not all of them are successful to grow in several years. Other coins are just use to raise funds after that they don't care about the coins if it will continue to grow or not,that's why it become dead coins after a years because there are no more demands. There are also a lot of good coins that has a potential to grow because of it's uses like bitcoin,ethereum and others. That coins are already tested,even a lot of dumps they still rising. That coins are already trusted by many people and has a great value and popularity. So,go to bitcoin and ethereum if you want to invest in secured coins. If you want other coins then you need to study those coins if it has a potential to grow in the market even how many years will pass by.
If there is a project that's says pays you a lot in return it's likely that it's a scam. something unreasonably good and better looking payouts are initial sign of scams.
As of now there are 1500+ cryptocurrency exists in the world.
Many dead many rising and many has to come.
So how can i know the currency ,where i am putting my money is not a part of scam?
Or is there any other way so we can check about respected crypto might be it'll work?
For me to know that cryptocurrency is a scam or not, I'm looking at it first if it has a roadmap and whitepaper, but in that sense when there is no scam, because we do not know if a cryptocurrency is a scam or not , if we want to invest it's better to see if there is a coinmarketcap or nothing else. Many dead many rising and many has to come.
So how can i know the currency ,where i am putting my money is not a part of scam?
Or is there any other way so we can check about respected crypto might be it'll work?
Actually sometimes you can't tell whether a project/ICO is a scam because most of the professional scammers are opening a project that looks professional, all the informations and whitepapers are perfect as well as other parts of the projects including social medias, ann thread as well as the community.
Well if you're about to invest into a project you should be aware about the risk you're about to face. Such as a scam or whatever so we should be responsible in every investment actions we're about to do and we should be doing a deep research about the teams background, the projects and we should not be afraid to ask about other stuffs to their representatives.
Well if you're about to invest into a project you should be aware about the risk you're about to face. Such as a scam or whatever so we should be responsible in every investment actions we're about to do and we should be doing a deep research about the teams background, the projects and we should not be afraid to ask about other stuffs to their representatives.
Very much good question. Really many cryptocurrency is scam and we face frustrated. Have any method to identity scam project??
I'm not an expert but I'm trying to consider the main and simple points: what exactly will solve definite cryptocurrency, where it will be used, how and by whom. If I see that it this currency is really something interesting I'm getting involed deeply and again continue learning.
In fact is is not possible for the inexperienced people to know that which coin or ICO is going to be fake and scam. For that you need a regular study and must know the expert opinion, who have passed such a long time in the market, and who have good experience and studying the market regularly. i think that using internet you can also get good information about ICOs and coins.
Quite a nice topic…. But don’t you think it’s better for you to focus on cryptocurrencies with a good reputation online already, instead jumping into new and unstable platforms and looking for ways to know which one of them is scam or not? This is practically a waste of time, cause you should have used those times wasted as opportunity to invest on other good coins and make a lot of profit.
I've received several pm stating that they have started their ico, and invite us to be a part of the network. They never have a Ann thread and other sources. With this don't fall without proper research, because once lost is lost forever with cryptocurrency. Getting caught into the hands of scammers will result in initiation of negative thoughts among the users.
I think everyone here has been dealing with these PM's, but the only thing that you can do in this case is report them from where the accounts sending these PM's will likely end up getting nuked. Important for people to understand is the fact that the harder an ICO or project tries to advertise itself, and especially when it comes to spamming links and people's inboxes, the less trustworthy it is. Proper ICO's and projects only stick to more basic forms of marketing, where after that people themselves will spread the word, and that effect is something doing the work for you as project.
Fake team, fake advisors, no MVP, lots of marketing.
I've received several pm stating that they have started their ico, and invite us to be a part of the network. They never have a Ann thread and other sources. With this don't fall without proper research, because once lost is lost forever with cryptocurrency. Getting caught into the hands of scammers will result in initiation of negative thoughts among the users.
You don't need to check all the crypto to find out what is ordinary stone, from diamonds, from gems, from nickle, from platinum since they are all mixed up in this muddy society, you need to be flexible in choosing and bargaining if you find crypto that is worth a small diamond then use it to gain, if you purchase a lot of ordinary stone then just leave it alone put it aside and keep trading, no need to waste time looking for scams.
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