How do you determine if a cryptocurrency is legit?

[Nnnbht 502]

You can know the legitimacy of currencies by looking at their project and purpose, some of them are intended for gambling, games, or others, and through the currency project you can determine if this currency is legitimate or not.

[james653 981]

Know about fraudsters, so be careful and consult older members to avoid running into risks and losing money.  There are a lot of fake currencies and scams.  We can consult members and search on the Internet to find out fake currencies from real currencies.

[hghadeer611 689]

I am always afraid of buying false currencies, so in order to remain reassured, I only deal with famous and reliable currencies, it is certain that many new currencies are honest and do not aim for theft, but I fear their failure.

[Moon87 798]

I think, my friend, that we search for the cryptocurrency that we want to buy, for example, and what is its quality, is it fake or not, and in general we have to work and use known currencies such as Bitcoin, Ethereum and other cryptocurrencies.

[Adam X 323]

You don't have to risk and try new names of Cryptocurrencies. There are many old and well known currencies in the market (like BTC and ETH) which is more secure and legit.

[Issa88 274]

Because there are so many currencies, it is difficult to determine the currency as legitimate or not, for myself, because I only invest my money in reliable currencies that are popular with people

[abdullah553 1981]

On 4/24/2020 at 1:02 PM, Naylor89 said:

As you now there are more than 5,000 different cryptocurrencies. Some have really shady names and some of their websites didn't even have other contact information than an email address and hidden whois information, so it seem like quite a few are blatant scams. So what's the best ways that actually can be used to tell the legit ones as cryptocurrency?

You can determine through the white paper and through the information that is published through social communication, and perhaps with the advice of some ancient experts.

[Zein21 839]

Because of these reasons and many more, I only invest in known currencies in order not to fall into one of the fraud traps because this matter will greatly affect my life in cryptography

[Saleena micky 685]

In fact, they know that it is a cryptocurrency and intangible, but they also know that it is relied upon in suspicious business and trade in the black market, so they will not agree with you in your opinion or agree with you that it is a peaceful currency and defied its positives.

[Serbberq 724]

It's simple, first you have take your precious time to search rigorously and extensively useful and valid information about the currency in some popular reviewing sites, like Alexa ranking reviewing sites, trustpilot and youtube. 

In addition check the value of the coins, price fluctuations and total volume in Coin Market Cap, Coingecko 

Edited April 23, 2021 by Serbberq