Topic: Identifying potential scam coins - page 2. (Read 433 times)
Check the teams identities and their website cause most cheap scams copy websites and dont offer proof of team identities.
Read the whitepaper and if it makes no sense than it's likely a scam coin. They like to overgeneralize about changing the world, and use crypto terminology to the point where it makes no sense. You can buy a whitepaper on People Per Hour or Fiverr for $100, so it goes to show that most of them mean nothing. See if you recognize any of the team from other projects as the team is the most important.
Check to see if they are a working product. Stay away from anything promising the moon.
Hello,
It's a well known fact that cryptocurrencies are everywhere. Every now and then new projects come up purporting to solve a problem. But we all know that some are destined for success while others will eventually fail no matter the hype. Some are outright scams.
Is there any way one can recognise potential scam coins? Any way one can predict whether or not a project will succeed?
It's a well known fact that cryptocurrencies are everywhere. Every now and then new projects come up purporting to solve a problem. But we all know that some are destined for success while others will eventually fail no matter the hype. Some are outright scams.
Is there any way one can recognise potential scam coins? Any way one can predict whether or not a project will succeed?
You can identify them by the way of there kind of posting that you know it is impossible and its easy to identify if there post or their intension was not good and if they are not pay you for how many week you should know and take an action for those not victim the others just observe and read properly there post thats the way you should identify if scam or not.
Sometimes its easy to spot fake project by checking the team, product, comms channel, reviews etc. However be aware of another most common type of scam which is getting a lot of money for adding very little value.
Just think do they really need that amount of the money to build and promote the product. If not, why they ask for so much money then? Don't let the extremely marketing campaign to fool you, the product and dev team is more important. I would also check the roadmap too, some ICO have a long product roadmap, first stage 2019. In other words, they are far from what they want to do (like monetha), or just not be able to do it with the current technology (like any advertising exchange related coin).
Just think do they really need that amount of the money to build and promote the product. If not, why they ask for so much money then? Don't let the extremely marketing campaign to fool you, the product and dev team is more important. I would also check the roadmap too, some ICO have a long product roadmap, first stage 2019. In other words, they are far from what they want to do (like monetha), or just not be able to do it with the current technology (like any advertising exchange related coin).
Just use your brain man. Follow the project for some time and you'll see if they have a good team and a good plan, and most importantly, if they really follow their plan / roadmap.
Hello,
It's a well known fact that cryptocurrencies are everywhere. Every now and then new projects come up purporting to solve a problem. But we all know that some are destined for success while others will eventually fail no matter the hype. Some are outright scams.
Is there any way one can recognise potential scam coins? Any way one can predict whether or not a project will succeed?
It's a well known fact that cryptocurrencies are everywhere. Every now and then new projects come up purporting to solve a problem. But we all know that some are destined for success while others will eventually fail no matter the hype. Some are outright scams.
Is there any way one can recognise potential scam coins? Any way one can predict whether or not a project will succeed?
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