depends on how you define SCAM.
my definition for SCAM in crypto coins is a road-map that can't be met !.
most coins have a GREAT road-map where they claim really amazing things to happen!. so people invest in that coin based on that. only to realize after a while that non of the so called plans worked out. and the worst part is when the devs themselves know they can't achieve their road-map so the dump their coins before others do leaving everybody else with BAGS!
to stay safe, only invest in TOP coins. less reward yet less risk.
Topic: How would we know which cryptocurrency would be Scam? - page 11. (Read 3150 times)
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.
The only way we can differentiate legit cryptocurrency from a scam is by reading more about the project and the integrity of the team behind such project.Because it is very painful to waste your time and other resources on a project that is not paying.We should always do a background check well before trusting a particular coin.
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.
Research on the three 'P's;
People,
Process and,
Product.
Who makes up the team? Are the credible managers?
How efficient is their strategy? If the ICO has too many gaps you should scrutinize further.
And what is their working product? Is it unique enough toto be invested in?
People,
Process and,
Product.
Who makes up the team? Are the credible managers?
How efficient is their strategy? If the ICO has too many gaps you should scrutinize further.
And what is their working product? Is it unique enough toto be invested in?
I think there are a few steps you can follow that will reduce the risk of you investing in low quality projects. Look up the project on GitHub. Does it have an active community of developers? How engaged is the team when it comes to dealing with issues. A good place to start with that would be on this forum. All the major projects engage with their protocol users on this forum and you can have active engagement with them. What's the token issuance structure like as well? As in what proportion of the money raised goes to the team and how will that be released? If they take up an extremely large proportion and these are not released in incriminates then what will incentivise them to work hard after they receive the funds?
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.
I also see that the more scams on btc forums are growing.. BCASH is one of the outstanding scam web distributors, many investors are losing money balances! They send IDR as BCASH coin deposit, it turns out their investment place is a scam and they can not withdraw the balance of BCASH coin deposit so they lose the amount of IDR which has been deposited in BCASH.
If you see all the cryptos all of them are seem to be legit. So choosing the right crypto is very hard to do.
To minimize the chance that you might choose scam crypto, we should check first all the information about that crypto.
We should check if all the members and devs are doing thier best just to make the crypto sucessful. Untill we can conclude that it is onehundred percent legit.
To minimize the chance that you might choose scam crypto, we should check first all the information about that crypto.
We should check if all the members and devs are doing thier best just to make the crypto sucessful. Untill we can conclude that it is onehundred percent legit.
you need to look at the idea of a coin and understand why it is created, you can also find out information about the partners.
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?
The most important thing you need to do is your due diligence to not invest in a coin out of impulse take your time to research the coin and then decide if you want to invest in it, many people rush to invest in altcoins just because they fear losing the bonuses but the bonuses are meaningless if you lose all your money if you invest in a 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?
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?
what you can do before investing in an ICO check the roadmap, whitepaper and the team behind the project. Review their platform and what they offer, read carefully every details on their whitepaper. Visit their telegram channel, and from there you will see if they have lots of investors. Do some reseach about the project before investing. 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’m not really sure of how someone can tell which cryptocurrency is scam or not, but one thing for sure is that the good ones are made to look professional. Fake ones are made to look fake as they are, cause the devs are only interested in money and are so careless that they won’t concentrate to build it. Well, it’s always good, so we can find out and detect which ones are genuine and those that are not.
Well, people say coins and token are a scam because of they lose their value, but sometimes when coins lose their value in particular reasons, they just disappear without trace or saying what happen and people will start saying about it and pretend that their thought is real and suspect that the project is a scam.
It is very difficult to describe how to know which cryptocurrency would be scam. You cannot predict the scam in cryptocurrency. One thing is only possible the performance of cryptocurrency and its interaction communications with investors and links can be roots to identify the scam otherwise it is no easy to find scam.
Though it's hard to predict, you can still analyze the ICO details to know the truth behind. We have few factors to look at. Get into the white paper and read the details. Know the project they have undertaken. This would make you bit clear. Then check out the team members' profiles. This another strong clue. Then know the amount they invested on projects, marketing and other stuffs. Look for proofs they hold on the above then invest in them. This would be a way to find the correct ICO.
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?
Digital currency are all risky due to it decentralized system (untraceable transactions).For me, all can be a candidate to be scammed so one must be very careful. We must do researches as to which is popular and has given results. Also join furoms such as this so others can advise us which is better. By far Bitcoin is the best for me.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?
A lot of people when they see a graphical website, a well written whitepaper, and a graphical road map as well, all they look out for next is to invest in the project, whereas the most important things is to find out if there is a product and a good team to always get it right.
It is very difficult to describe how to know which cryptocurrency would be scam. You cannot predict the scam in cryptocurrency. One thing is only possible the performance of cryptocurrency and its interaction communications with investors and links can be roots to identify the scam otherwise it is no easy to find scam.
Though it's hard to predict, you can still analyze the ICO details to know the truth behind. We have few factors to look at. Get into the white paper and read the details. Know the project they have undertaken. This would make you bit clear. Then check out the team members' profiles. This another strong clue. Then know the amount they invested on projects, marketing and other stuffs. Look for proofs they hold on the above then invest in them. This would be a way to find the correct ICO.
Read people's feedback about the coin, feedbacks are really important, it is one of the essential ways to know if the coin is a scam, if the feedbacks about the coin are negative and lots of people are complaining and are really confused about the coin then you better stay away from it because it will promise you nothing.
The first thing I look is how professional they use social language. How they answer people. How they fix issues when faced. The best thing for me is team and professionalism. If project have this 2 things then I believe it can start steady grow
There are no cryptocurrencies that are scam
You are wrong, there are crypto's that does have a goal to scam investors and this can't be denied.If you are aware of bitconnect it's one of the scam that is using cryptocurrency to make their leaders and founders wealthy.
Look on where are they right now, Bitconnect is nearly dead but it's still breathing. If there's something wrong or the scheme is very popular and the way of making money is obviously unreal, it's a scam.
There are ICO's that are also scam.
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