How would we know which cryptocurrency would be Scam? - page 3.

yndye

sr. member

Activity: 616

Merit: 262

Quote from: Ionzar on October 14, 2018, 01:16:54 AM

It is necessary to remember the risks when working with cryptocurrencies. No one can say for sure which project will turn out to be fraud. In any case, we can only reduce the risks associated with investments, but we cannot completely eliminate them. To minimize risks, you need to carefully study the project, its ratings, information about developers and technologies.

Due diligence is very important when it comes to investing. It doesn't matter if you are investing money or investing time through participating in bounty campaigns because when you spend some time in the project, you should so some research about it to know if it is worth it. You need to have some criterias before you decide to invest in a project. As for me, it is already a red flag when the team is not answering the questions in the community and they would block someone who will ask some negative questions.

Siegtal81

member

Activity: 334

Merit: 10

Global Trans-Fee Mining Exchange

Quote from: tirthraj on January 22, 2018, 03:37:07 AM

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?

Today it is necessary to take into account the relatively high risks in practical investments in any cryptocurrency. Unfortunately, to identify a fraudulent project will be quite difficult. Although you can use some universal methods to reduce such risks - including exploring information about the developers, platform, technologies and future development plans.

Ionzar

member

Activity: 322

Merit: 10

It is necessary to remember the risks when working with cryptocurrencies. No one can say for sure which project will turn out to be fraud. In any case, we can only reduce the risks associated with investments, but we cannot completely eliminate them. To minimize risks, you need to carefully study the project, its ratings, information about developers and technologies.

iTradeBit

jr. member

Activity: 224

Merit: 1

You need to find as much info about the team as possible and check the sites

Pechalka

full member

Activity: 560

Merit: 100

You just need to analyze the company, which made this crypto. If they still work about their coin, it has so less chances to be a scam.

catsmile

full member

Activity: 476

Merit: 100

Quote from: tirthraj on January 22, 2018, 03:37:07 AM

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 is difficult to determine if the coin you are investing in is a scam or not. So when it's "not cheated yet", try to make a profit from it. Then invest in something more reliable

aileen393332xe5157

member

Activity: 364

Merit: 10

In my opinion, you need to study the project carefully. Use the knowledge and experience to analyze the project to find the problems of uncertainty: Teams, routes, goals, values ... Follow up and refer to the response of the community about the project, refer to the ratings site ...

bittick

hero member

Activity: 2296

Merit: 506

Cryptocasino.com

Quote from: cathat on October 13, 2018, 03:46:28 AM

You need to will be sure that the team members are real and have experience with them. Many SCAM projects expose at this step. Does the company have licenses, certificates. Next, you need to monitor the work activity, if it is not there, then this is bad.

Most of the scam ICO using fake LinkedIn profile so people should take a look further, it's also really difficult to distinguish between real linkedin profile or not because some people just sometimes dont have the linkedIn profile but these scammers are taking someone else's pictrure.

cathat

full member

Activity: 264

Merit: 100

TEMCO

You need to will be sure that the team members are real and have experience with them. Many SCAM projects expose at this step. Does the company have licenses, certificates. Next, you need to monitor the work activity, if it is not there, then this is bad.

margaret22

member

Activity: 196

Merit: 10

In most cases, if something is "too good to be true", than we have to think, that maybe it is a scam. In the same time, crypto can be better sometimes, than what others would think possible.

Sam San

sr. member

Activity: 630

Merit: 250

Quote from: itsik78 on October 10, 2018, 12:11:41 PM

To see fraudsters among many crypto startups, you need to study:
The site is the face of the company;
Technology - what the company does;
People - who does it;
Principles of work - how they do it.
The ICO market is a young and high-risk business. It is necessary to enter into it with a certain knowledge base and a part of the income that will not be a pity to lose.y to lose.

if such a study saved from fraud, it would be a panacea. unfortunately, it depends on the people in the decision making team who can become scammers at any stage and take the assets out of the project.

Pr.Victus

member

Activity: 322

Merit: 10

Global loyalty & rewards

If you are a HOLDer, then you are more likely to stumble upon a SCAM than a trader. A trader may have time to sell the coins before they are worthless; this is not good, but they have money in their hands instead of air coins.

itsik78

full member

Activity: 462

Merit: 100

To see fraudsters among many crypto startups, you need to study:
The site is the face of the company;
Technology - what the company does;
People - who does it;
Principles of work - how they do it.
The ICO market is a young and high-risk business. It is necessary to enter into it with a certain knowledge base and a part of the income that will not be a pity to lose.y to lose.

Sacrib

newbie

Activity: 42

Merit: 0

Quote from: GeoDudeScho on January 23, 2018, 02:04:39 AM

Quote from: Sumaiya55 on January 22, 2018, 11:59:25 AM

Read their whitepaper. Check their developers. Ask questions about their token and its primary purpose. Though none of these might totally let you know if the coin is a scam or not as at first none of them are scam, but you will have the slightest idea if the project is worth investing in or not if you check these things before. One more sign that I see a lot of times that makes it suspicious is the promotional rewards are way higher then how much they should be. It probably means they are trying to attract more people to advertise their service and let the coin get some value and then they might take the money collected from ICO and run away with it.

Interacting with their team is probably the best way to decide whether a project is legit. Ditto on at the whitepaper, roadmap and bogus airdrops. Most of the time if a coin is airdropping a huge number of coins, it just shows that they don't value their own coin very much. If they did they wouldn't be throwing handfuls of it away...

To interact with the team is definitely a good idea!

HauntOne

jr. member

Activity: 177

Merit: 1

Bro, for the most parts of cryptocurrencies are not a scam, they simply depreciate (there was no investor, the team fell apart, anything can happen). But you can select the best ones yourself, or use chat rooms where such companies have already found ... they are usually paid.

o.ogurlu

member

Activity: 910

Merit: 12

You should do a good research on the project you want to make a deposit. My advice is to read the project's whitepaper first. And research the team members of the project. And lastly read the comments about the project and the team members.

Inikoo

member

Activity: 196

Merit: 10

There is no special receipt I guess, we have to look at the red flags carefully. For example, if they promise unrealistic things, rewards, performance.

BlockchainGod

full member

Activity: 322

Merit: 100

I think that no one can give you the right answer to this question except you. You yourself have to analyze each coin of interest and decide for yourself scam it or not. IMHO

DarkDays

legendary

Activity: 2030

Merit: 1189

Well according to a research report I read, somewhere around 80% of ICO projects last year had scammy activity, so you can probably assume that is somewhere around 90% in 2018. However, the vast majority of funding is being sucked up by the actual good projects, so you shouldn't worry to much about getting scammed, as scammy projects tend to fail quickly.

nickwen

member

Activity: 261

Merit: 10

ICO is a form of investment that can bring big profits when it index, you can x10 x20 the amount you have invested. But this is also a form of high risk investment. You can take Describe the following to evaluate an ICO or other crypto project:
Team established ICO
The topic of that ICO on forums or review sites about ico
Development Roadmap
Community and media support
Review the Whitepaper of the project
Quality code (see on Github)

Topic: How would we know which cryptocurrency would be Scam? - page 3. (Read 3150 times)