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Topic: How would we know which cryptocurrency would be Scam? - page 15. (Read 3117 times)

full member
Activity: 1638
Merit: 122
If you mean ICOs, then you should make a complete research on their teams, their social media platform, investigate their profiles in LinkedIn but don't be fooled some of the profile still tends to be fake. You should also read their white paper, probably you might see if it may interest you to invest in. But be VERY careful, after all this, there are still some fake ICO that would pass all this and still be a scam. You just have to  be careful.
The truth is that there is no way to find out, unless someone else or you yourself falls victim of scam in that site. Even if you make research, you will only find out whether an exchanger or ICO is a scam from people that reported as case of being scammed online by them. That’s why I’m not used to all these new stuffs that claims to give heaven and earth, they’re all fake.

I prefer the old popular ones in the market. Another way to find out if an exchanger is scam or not is from what they promise in return. Some of them will claim that if you deposit $100, you will $10,000 in a week. Wow, what type of organization would give such an amount? It’s a SCAAAMMM!!!!!!
You can always find out. You do not need to fall victim or someone else should fall victim, the handwriting is always written all over the wall and it just requires some little research on your part to be able to get that done.

Most people who have fallen victim are always the ones who blindly invest in a project without checking out if they are qualified or not. Have you checked the team, do they have a product, do they have any past achievements, do they have what to look forward to regarding development ? All these are the questions you need to always ask.

To be honest i actually check all of those you mentioned above but unfortunately i have Still been scammed on the past. that is why i can say that it is really hard to find out if a coin or crypto is a scam. but i now learned my lesson , that is why i didnt invest immediately to an unknown coin even if the specs is good or the supply is low. i now only focus to bitcoin and etherium because im confident that my invested capital wont be wasted.
legendary
Activity: 1442
Merit: 1025
If you mean ICOs, then you should make a complete research on their teams, their social media platform, investigate their profiles in LinkedIn but don't be fooled some of the profile still tends to be fake. You should also read their white paper, probably you might see if it may interest you to invest in. But be VERY careful, after all this, there are still some fake ICO that would pass all this and still be a scam. You just have to  be careful.
The truth is that there is no way to find out, unless someone else or you yourself falls victim of scam in that site. Even if you make research, you will only find out whether an exchanger or ICO is a scam from people that reported as case of being scammed online by them. That’s why I’m not used to all these new stuffs that claims to give heaven and earth, they’re all fake.

I prefer the old popular ones in the market. Another way to find out if an exchanger is scam or not is from what they promise in return. Some of them will claim that if you deposit $100, you will $10,000 in a week. Wow, what type of organization would give such an amount? It’s a SCAAAMMM!!!!!!
You can always find out. You do not need to fall victim or someone else should fall victim, the handwriting is always written all over the wall and it just requires some little research on your part to be able to get that done.

Most people who have fallen victim are always the ones who blindly invest in a project without checking out if they are qualified or not. Have you checked the team, do they have a product, do they have any past achievements, do they have what to look forward to regarding development ? All these are the questions you need to always ask.
newbie
Activity: 6
Merit: 0
Thank you all for the advice!!
hero member
Activity: 910
Merit: 505
never invest in individual altcoin as they are majority scam ,developing from scratch is very difficult so majority of project go for token base ,usually these scam have been reduced compared to previous as people invest in project which are escrowed funds,always make sure to invest in project which have good team and are using escrower and avoid scam link.
hero member
Activity: 2534
Merit: 586
If you mean ICOs, then you should make a complete research on their teams, their social media platform, investigate their profiles in LinkedIn but don't be fooled some of the profile still tends to be fake. You should also read their white paper, probably you might see if it may interest you to invest in. But be VERY careful, after all this, there are still some fake ICO that would pass all this and still be a scam. You just have to  be careful.
The truth is that there is no way to find out, unless someone else or you yourself falls victim of scam in that site. Even if you make research, you will only find out whether an exchanger or ICO is a scam from people that reported as case of being scammed online by them. That’s why I’m not used to all these new stuffs that claims to give heaven and earth, they’re all fake.

I prefer the old popular ones in the market. Another way to find out if an exchanger is scam or not is from what they promise in return. Some of them will claim that if you deposit $100, you will $10,000 in a week. Wow, what type of organization would give such an amount? It’s a SCAAAMMM!!!!!!
member
Activity: 203
Merit: 10
i have no idea if there are coins that are just a scam, if ever that coin is used in a scam ICO then maybe it really is a scam but coins that are used in paying for good ICO projects then it is not a scam instead it has a promising future ahead, means it will probably increase its price in the future. I knew some coins but with low price you can think of most of the coins as real or not scam but will they last for a few months or year because maybe they will lose its value in the future. I suggest just invest in coins that has a valuable price and some coins that have high price such as bitcoin and ethereum.
member
Activity: 207
Merit: 22
If you mean ICOs, then you should make a complete research on their teams, their social media platform, investigate their profiles in LinkedIn but don't be fooled some of the profile still tends to be fake. You should also read their white paper, probably you might see if it may interest you to invest in. But be VERY careful, after all this, there are still some fake ICO that would pass all this and still be a scam. You just have to  be careful.
newbie
Activity: 140
Merit: 0
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?

Read the white paper and see the roadmap. Check their developers for questions about their tokens and their main purpose.

If the cryptocurrency is not justified, it loses its value immediately.
hero member
Activity: 840
Merit: 502
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?

Even a scam coin have some value so if you are playing on them thru trades, then you must know that chances that you might be wrecked on the way is possible. There are people who plays even on a shit and scam join because their purposes is only to take advantage of the volume and not on the technology of that cryptocurrency itself. Risky after all.
The problem of that strategy is that is very risky even if you invest in a coin you think will do fine in the future the truth is there is not a way to be sure you are going to get profits, by choosing specifically a coin that is not very good and that it could even a scam you are relying in your luck and in the fact the coins attracts enough hype so it begins to skyrocket and that does not take into account the morality of doing such a thing.
full member
Activity: 204
Merit: 100
I think that first of all you need to pay attention to the team, correctly compiled by White Paper and the website. And also how actively the team communicates with potential investors.
OPs talking about scam crypto not the project or ICO.
i think if a coin/token already existing in the blockchain i don't think that could be consider as a scam, crypto alone is not a scam but rather those promise or project presented by a team to the public which is for the purpose of ICO. Some ICO even after they release the coins/token there's not further development of the platform and we should be vigilant with those projects.
newbie
Activity: 9
Merit: 0
Looking at the following can give you a good idea:
- Website
- Whitepaper
- Team members
- Github code and activities (commits, issues, etc.) on the account
- Social accounts

Note that this doesn't mean that, if a project has not made there code public on Github or doesn't have any well-known team members, then it is definitely a scam. But these do give you a good idea about the project.
legendary
Activity: 1176
Merit: 1024
In particular, forms that ask for the same information as your wallet address and private key on your google form are strictly fraudulent.
You won’t even need a soothsayer to tell you that anyone asking you for your private key is fraudulent. Moreover, which sane ICO will even want to quickly give up their mission in such case when obviously people are not that gullible to fall for such crap ? That is even the last thing anyone should be looking for in terms of ICO level, as there are other major factors which are realistic like the team, the project and their plans for the future, but the team most especially.
jr. member
Activity: 238
Merit: 7
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?


to avoid being scam , the most important that need to check their code on Github. Whether the code is available in github or not and check the blockchain is running or not. Next the team members whether their link to complete details is available on specific crypto website or not.

I saw many projects without team members details avoid this projects.
hero member
Activity: 1190
Merit: 504
I think we can determine scam projects only in retrospective. But there are some indicators, for example the level of the project realization, its whitepaper and roadmap, functioning product etc.
Most of the ICO's are very professional when it comes road map, white paper and if you'll stay at the services section you can even see people who are offering this type of service who are specialize in creating those things.
Look at their team developers, you can say if they are real people and look for their references.
jr. member
Activity: 94
Merit: 5
The mischievous development has many ways to carry on the action as it happens lately within a period of 6 months around 3 types of crypto coins that can be said to die not worth it at all. I will not mention the name of the coin, how is Dev in action? Actually not too hard to read the way in the world of crypto You will hear the term ICO intent of coin ICO is a coin that once existed in the mine before its release to the public so that Dev coin owns own coins first, if Devcoin has collected coins first then at worried that the price of the coin reaches the peak point then Dev will sell all the coins that are then released without disturbing again, it will follow investors, miners, and coin holders and it is certain the coins will die. However not all coins of ICO do the same thing there are some coin remain active in the market and in forums
legendary
Activity: 1442
Merit: 1025
It so hard to find which cryptocurrency is Scam, but for me if the crypto have many discount gave and give-away that's sign of Scam. For you not to be Scam, I think you should search about the crypo you want to invest or you should just invest in the Top10 crypto in the world.
It is not so hard mate ! All you have to do is to just do some diggings on the project surrounding the cryptocurrency, the team, how well they have been working hard to stay relevant, the chances of them surviving and bringing good profits for holders in the long run and the chances of the product they have being usable.

There are a lot of coins or tokens that are not even in the top 100 with a low cap and there is a huge guaranty they will still do well, so it is left for each person to take their time for proper research on any coin.
hero member
Activity: 2996
Merit: 609
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?

It's really difficult to make sure which cryptocurrency could be a scam. You have to go through very attentively of every cryptocurrency's whitepaper. Also, their team combination would be a symptom regarding this issue. So that if you really want to invest your money then you have to select some of the top currency like Bitcoin, Ethereum, Bitcoin cash, Bitcoin gold, Litecoin and so on.

I think over experiment would cause a matter of disaster in this platform. So that you have to stay with recognised and popular cryptocurrency regarding investment and saving. that's why Bitcoin and Litecoin would be the best choice for making an investment.
I wonder why people go through whitepaper a lot first. That should be like something that should be done after you have checked if the cryptocurrency have a viable project and a good team of developers that are working pretty hard and active. That alone should cover most of the things you need.

The whitepaper will just give you a broaden knowledge of the project as a whole and some of the roadmaps. Normal common sense will tell one a project to run away from and the one to stay glued to.
Then i would like to ask you. How you would able to know if the project do have potential or not if you dont read up the whitepaper?If you do mean about just seeing the summary or just the description then its not really completely a full basis that you would able to understand such project potential on just reading up few words of it. Having a transparent developer is one of the important things to check it out.
member
Activity: 252
Merit: 10
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 believe you will never know exactly which cryptocurrency is a scam, it is very difficult to trace scammers until they leave the limelight withour paying anyone. Well, maybe to avoid scammers in crytocurrency the first you can do is to read everything about their project. analize every information they have, from platform to road map, teams and developer. Maybe this way you can avoid scam project.
member
Activity: 406
Merit: 11
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 first one you must know what's the prospect of a project in later years. How to know? You can learning in road map and whitepapers since ICO release. how can you invest money in a unknown place and you do not learn anything about project plan ICO in the future? Be a smart investor dude.
legendary
Activity: 1512
Merit: 1041
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?

It's really difficult to make sure which cryptocurrency could be a scam. You have to go through very attentively of every cryptocurrency's whitepaper. Also, their team combination would be a symptom regarding this issue. So that if you really want to invest your money then you have to select some of the top currency like Bitcoin, Ethereum, Bitcoin cash, Bitcoin gold, Litecoin and so on.

I think over experiment would cause a matter of disaster in this platform. So that you have to stay with recognised and popular cryptocurrency regarding investment and saving. that's why Bitcoin and Litecoin would be the best choice for making an investment.
I wonder why people go through whitepaper a lot first. That should be like something that should be done after you have checked if the cryptocurrency have a viable project and a good team of developers that are working pretty hard and active. That alone should cover most of the things you need.

The whitepaper will just give you a broaden knowledge of the project as a whole and some of the roadmaps. Normal common sense will tell one a project to run away from and the one to stay glued to.
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