The duty of coinmarketcap.com, and coingecko.com is just to make sure that they are listing as much coins as possible in the market. It is not their job to identify whether a crypto currency project is a scam or not, that is something that is left for us as the investors and users to know whether we are investing in the right coin or not.
So, you shouldn’t expect them to do this for you, rather you should be careful yourself and know what to avoid when looking for a project to invest in. Moreover, there are already lots of popular cryptocurrencies in the market that you as an investor can choose to invest in without having to look for all those little coins that’s owned by scammers.
Topic: The solution is just there (Read 318 times)
If the team behind coinmarketcap could always review the altcoins that they gonna list it’s gonna be great, I figured out that coinmarketcap frequently listing some shitcoins just because they exists and this could cause lose of investment by many newbies in investing.
I think coinmarketcap is also a company owned by binance, if they could make some review just like exactly binance is doing with the projects that they gonna be carrying out, it could significantly reduce the amount of investment loss because of scams projects.
I really wish that they could make this filtering of scams projects comes true because it could literally save many lives and money.
First of all you have to know that this is not their duty, they have one duty which is just to list all the coins that are available in the market, and not to go round checking whether they are scam or not. These people list a lot of coins in a week, and I don’t think they will have that kind of time to start checking which project is a legit one or the ones that are owned by scammers.I think coinmarketcap is also a company owned by binance, if they could make some review just like exactly binance is doing with the projects that they gonna be carrying out, it could significantly reduce the amount of investment loss because of scams projects.
I really wish that they could make this filtering of scams projects comes true because it could literally save many lives and money.
Furthermore, when you want to trade these coins, where you usually go to is exchanges like binance.com, and coinbase.com, or any other exchange in the market, and you don’t go to coinmarketcap.com or coingecko.com to sell these coins.
Maybe if you have said that exchanges should start doing this particular thing, then I would say you are right. Because exchanges, especially the centralized exchanges should be the ones checking whether a project is legit or not, this is not something that should be meant for Coinmarketcap to do.
Project owners know that this makes people arouse so they also use this strategy to gain attraction but coinmarketcap and coingecko have their disclaimers that not all projects posted by them are legit. I am a long time user of both sites and I witness the rise and the fall of the projects listed by them.
That is true, I also noticed it on some telegram group. They celebrate their listing on coinmarketcap and other tracking sites and it got be wondering if they really know what those sites do. But I understand those listing give them more exposure. Cryptocurrency project are built around hype. Even if you have the best project, you have to create some hype around it so more and more people get to know about the project and invest in them.
These projects uses this news of new listing to create hype and newbies fall for it every time. They have to understand that those are just hyping ongoing and nothing too special to celebrate because any project with the right qualification can get listed.
If the team behind coinmarketcap could always review the altcoins that they gonna list it’s gonna be great, I figured out that coinmarketcap frequently listing some shitcoins just because they exists and this could cause lose of investment by many newbies in investing.
I think coinmarketcap is also a company owned by binance, if they could make some review just like exactly binance is doing with the projects that they gonna be carrying out, it could significantly reduce the amount of investment loss because of scams projects.
I really wish that they could make this filtering of scams projects comes true because it could literally save many lives and money.
also cmc should reduce the listings of these new projects because so many of them are actually just shitcoins and made for scamming.
Well, it is not an easy task to find out every coin, plus considering these days crypto is becoming more centralized and people want "doxxing or kyc of the team members" for some reason like the greatest crypto doesn't even have a satoshi nicknamed guy at the creation...I think coinmarketcap is also a company owned by binance, if they could make some review just like exactly binance is doing with the projects that they gonna be carrying out, it could significantly reduce the amount of investment loss because of scams projects.
I really wish that they could make this filtering of scams projects comes true because it could literally save many lives and money.
also cmc should reduce the listings of these new projects because so many of them are actually just shitcoins and made for scamming.
It is really not easy because most of the projects are scams, the ones that you see that does well are like one in a thousand, there are so many coins that you do not hear about because there are thousands, we are talking about like at least once a day every single day, probably more frequently, I guess on average like 2-3 per day. This is how many coins are out there. CMC could only list the ones that trade well and look at that part.
If coinmarketcap and coingecko can just start asking for team verification before listing a new project on their platforms I believe many will be safe from scammers, yes it's not their right to do since those platforms are just for listing available crypto projects but I heard they ask for criteria isn't it? They know how bad the numbers of scammers are growing, I think it's doable
They are just services to list the price of crypto assets, they don't have the duty per se to verify everything. It's our job as investors to do our due diligence and see what is right, it's our money anyways.
Scammers are everywhere, not just in crypto world. That's why we need to be very careful of the people we talk to specially in the market we live in because we are all (pseudo) anonymous.
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If the team behind coinmarketcap could always review the altcoins that they gonna list it’s gonna be great, I figured out that coinmarketcap frequently listing some shitcoins just because they exists and this could cause lose of investment by many newbies in investing.
I think coinmarketcap is also a company owned by binance, if they could make some review just like exactly binance is doing with the projects that they gonna be carrying out, it could significantly reduce the amount of investment loss because of scams projects.
I really wish that they could make this filtering of scams projects comes true because it could literally save many lives and money.
also cmc should reduce the listings of these new projects because so many of them are actually just shitcoins and made for scamming.
I think coinmarketcap is also a company owned by binance, if they could make some review just like exactly binance is doing with the projects that they gonna be carrying out, it could significantly reduce the amount of investment loss because of scams projects.
I really wish that they could make this filtering of scams projects comes true because it could literally save many lives and money.
also cmc should reduce the listings of these new projects because so many of them are actually just shitcoins and made for scamming.
Project owners know that this makes people arouse so they also use this strategy to gain attraction but coinmarketcap and coingecko have their disclaimers that not all projects posted by them are legit. I am a long time user of both sites and I witness the rise and the fall of the projects listed by them.
That is true, I also noticed it on some telegram group. They celebrate their listing on coinmarketcap and other tracking sites and it got be wondering if they really know what those sites do. But I understand those listing give them more exposure. Cryptocurrency project are built around hype. Even if you have the best project, you have to create some hype around it so more and more people get to know about the project and invest in them.
These projects uses this news of new listing to create hype and newbies fall for it every time. They have to understand that those are just hyping ongoing and nothing too special to celebrate because any project with the right qualification can get listed.
They are just a tracking website so I do not think KYC is needed. Them listing a token does not mean the token is legit. They are not exchange that should do more research before listing a project. You are supposed to use Coinmarketcap to just monitor coins and not as investment guide. Many people make the mistakes of thinking, if it is on Coinmarketcap it is worth investing in.
Be more concerned about exchange listing project then Coinmarketcap cap. Before investing in any project do your own research. Nobody is responsible for your safety, that is something to do yourself to be able to secure profits.
It is on the people's mentality already that when they hear coinmarketcap or coingecko they automatically thinks that the project is safe and legit. Not just the people that invests but the project owners pushes this too. When I am on a new project's group the admin will make a countdown that their project is going to cmc or gecko and then people will go wild.Be more concerned about exchange listing project then Coinmarketcap cap. Before investing in any project do your own research. Nobody is responsible for your safety, that is something to do yourself to be able to secure profits.
Project owners know that this makes people arouse so they also use this strategy to gain attraction but coinmarketcap and coingecko have their disclaimers that not all projects posted by them are legit. I am a long time user of both sites and I witness the rise and the fall of the projects listed by them.
If coinmarketcap and coingecko can just start asking for team verification before listing a new project on their platforms I believe many will be safe from scammers, yes it's not their right to do since those platforms are just for listing available crypto projects but I heard they ask for criteria isn't it? They know how bad the numbers of scammers are growing, I think it's doable
Do you think that coinmarketcap and coingecko will take the trouble contacting the teams and verifying their details? They are more interested in listing any project which fulfills their criteria as the main purpose of these sites is to earn money and they least care about anyone being scammed by the projects listed on their sites.
lol. okay enough with my laugh.
Not completely wrong man, coinmarketcap and coingecko only do listings for their own profit without caring about scam projects like you said. Because many crypto projects are scams even though they are listed on coinmarketcap and coingecko.
But are we not aware that the more time the 2 sites always improve their services? what they have done so far is also solely to help players who want to enter crypto to avoid scams.
It is indeed difficult to fight scammers, because they will always improvise and continue to develop to be able to deceive new players.
If coinmarketcap and coingecko can just start asking for team verification before listing a new project on their platforms I believe many will be safe from scammers, yes it's not their right to do since those platforms are just for listing available crypto projects but I heard they ask for criteria isn't it? They know how bad the numbers of scammers are growing, I think it's doable
They are just a tracking website so I do not think KYC is needed. Them listing a token does not mean the token is legit. They are not exchange that should do more research before listing a project. You are supposed to use Coinmarketcap to just monitor coins and not as investment guide. Many people make the mistakes of thinking, if it is on Coinmarketcap it is worth investing in.
Be more concerned about exchange listing project then Coinmarketcap cap. Before investing in any project do your own research. Nobody is responsible for your safety, that is something to do yourself to be able to secure profits.
If coinmarketcap and coingecko can just start asking for team verification before listing a new project on their platforms I believe many will be safe from scammers, yes it's not their right to do since those platforms are just for listing available crypto projects but I heard they ask for criteria isn't it? They know how bad the numbers of scammers are growing, I think it's doable
That never guarantees assurance that those developers will not scam as these scammers are smart enough. Think about even legit projects are turn to scams. They can easily slip on it and pretend that they can be trusted by submitting fake documents, there are a lot of documents found in the black market that can be used for the said purposes. That is why we shouldn't just rely either they are complying KYC, we also have to know their background on our own and must still be carefull.
If coinmarketcap and coingecko can just start asking for team verification before listing a new project on their platforms I believe many will be safe from scammers, yes it's not their right to do since those platforms are just for listing available crypto projects but I heard they ask for criteria isn't it? They know how bad the numbers of scammers are growing, I think it's doable
Do you think that coinmarketcap and coingecko will take the trouble contacting the teams and verifying their details? They are more interested in listing any project which fulfills their criteria as the main purpose of these sites is to earn money and they least care about anyone being scammed by the projects listed on their sites.
Maybe that way the scamer will definitely be reduced, but they can still find a way to get in with the bad goals they have planned, but for now the problem can not be resolved because the platform is only the beginning of a project to do a promotion so that it can be attracted by many investors, so to avoid scamers we have to make research on the project we want to follow, especially the clarity of the team managing the project, If their community is strong then the project can be relied on.
...They know how bad the numbers of scammers are growing, I think it's doable
It is possible that this would be the right decision in relation to new projects that have not yet been added to coinmarketcap. But this will not be done, since decentralization and anonymity are a priority. In addition, what to do with those projects that were previously added to the rating?
If coinmarketcap and coingecko can just start asking for team verification before listing a new project on their platforms I believe many will be safe from scammers, yes it's not their right to do since those platforms are just for listing available crypto projects but I heard they ask for criteria isn't it? They know how bad the numbers of scammers are growing, I think it's doable
I think, even though coinmarketcap and coingecko did a lot of verification and requirements for new project to be listed on their platforms, there is no guaranty that those project is really good and not scammers. Projects team and leaders of those scam project are very wise because they will perform their purpose after listing. Also it is our responsibility to check the project before investing. You need to do a depth research and don't just rely on coinmarketcap and coingecko. That’s still not their job because investing is our own responsibility and it comes with huge risks.
If coinmarketcap and coingecko can just start asking for team verification before listing a new project on their platforms I believe many will be safe from scammers, yes it's not their right to do since those platforms are just for listing available crypto projects but I heard they ask for criteria isn't it? They know how bad the numbers of scammers are growing, I think it's doable
There are a lot of projects where the developers are anonymous many of these are DeFi in nature if both market aggregators don't allow listing without identity verification good projects are not going to be listed and many investors will find and support market aggregator that will support DeFi projects and besides it's not the task of both Coingecko and Coinmarketcap to verify the team code and developers it's against decentralization and anonymity.
Its not CMC and coingecko responsibility to tell investors which projects are more reliable and worth investing money on, that's another load of work to be honest and also why would I trust any of these two even if they are strict with KYC verification from new projects? Is there anything that money can't do?
If coinmarketcap and coingecko can just start asking for team verification before listing a new project on their platforms I believe many will be safe from scammers, yes it's not their right to do since those platforms are just for listing available crypto projects but I heard they ask for criteria isn't it? They know how bad the numbers of scammers are growing, I think it's doable
Blockchain is meant to be decentralized, and as such the burden falls upon the individual to stay safe.Any effort to assign a gatekeeper for determining legitimacy is profoundly dangerous.
Firstly, it gives them the power to censor that which it's owners and managers do not like for arbitrary reasons.
Secondly, it gives users the impression that their own due diligence is not required. No matter what criteria is established and processes implemented, however, crooks will get around it. Better to make sure all understand that they are their own gatekeepers and advocates.
It is incumbent upon consumers to get better educated and more diligent about their financial health, not less.
If coinmarketcap and coingecko can just start asking for team verification before listing a new project on their platforms I believe many will be safe from scammers, yes it's not their right to do since those platforms are just for listing available crypto projects but I heard they ask for criteria isn't it? They know how bad the numbers of scammers are growing, I think it's doable
I don't think they will. because there are many new projects released every day and it will be very difficult for them to have to verify every team member in all projects. it costs a lot of money just to do those tasks. and if in the end the project remains a scam project, it will only lower their trust in the eyes of the crypto community. i think that's what crypto exchanges should do., because they are the ones shit projects get a place to dump. if every project is strictly verified, we will not find any shit project getting any place to trade their coins. 
agreed CMC should put additional effort in refusing listings of scam altcoins because it could be real problems if so many potential investment that are coming from CMC advertising getting wasted in a scam projects that being wrongly listed by CMC.
they should make some kind of verification so that all these scams altcoins couldn’t get listed in CMC and this could save a lot of investment from being stolen by all these scammers.
altcoins that are having relatively low market capitalization should also be categorized under different category because these kind of altcoins are frequently being used for manipulations of the market causing loss in investment.
they should make some kind of verification so that all these scams altcoins couldn’t get listed in CMC and this could save a lot of investment from being stolen by all these scammers.
altcoins that are having relatively low market capitalization should also be categorized under different category because these kind of altcoins are frequently being used for manipulations of the market causing loss in investment.
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