How do you determine if a cryptocurrency is legit?

[godislovefll 1880]

On 24/4/2020 at 6:02, Naylor89 said:

Como ahora existen más de 5.000 criptomonedas diferentes. Algunos tienen nombres realmente sospechosos y algunos de sus sitios web ni siquiera tenían otra información de contacto que una dirección de correo electrónico e información oculta de whois, por lo que parece que algunos son estafas descaradas. Entonces, ¿cuáles son las mejores formas que realmente se pueden usar para distinguir las legítimas como criptomonedas?

The best thing to do in those cases is to check your website and make a review, and also to avoid double coins, just by looking for the contract you will avoid being scammed, and every day this will grow and it will be more common to read and see projects fraudulent. what a good topic you have created my friend.

[Kenciuu 1729]

If you are having hard time to know what crypto currency is legit then invest and trade to those popular cryptocurrencies only. Like bitcoin, eth, xrp etc. These are legit and known as popular nowadays. Do not settle to crypto currency and stable coins because not all of them are working properly especially stable coins that release their buy order but not sell order

[Maaz sultan 265]

On 4/24/2020 at 7:14 PM, Badman001 said:

for detect crypto currency is legit or not you need to research about that on different different review website , good coin or tocken is always list on good exchange  . try to join their Social media like Twitter and TeLeGram if they have good auidence then there is a good chances of That project is legit and profitable. 

Yes this is an good trick for detecting scam projects and legit projects but we have too much crypto currencies so choose any of top crypto coin for investing purposes and other low coins is like lottery if go higher then make 4X profit and if dont then your all the investment will lose .

[Biojay 2080]

Hello everyone, to know if a crypto currency is legit, you have to know or check how many people are in purchase of the coin and how things go with it each day.

[TimopheyKa 3900]

It all depends on the state in which it is used. The fact is that in many places it is forbidden, and therefore, we can conclude that we need a more correct approach. For example, in my country, cryptocurrency is not completely prohibited, you can use it, but you can't buy various things and valuables with it!

[scofield64 943]

To determine if a cryptocurrencies is legit you need to know its volumes sales, total supply and make sure its listed in many exchange sites. The price of the coin need to be influenced by the price of bitcoin. 

[teebasas 3018]

There are a lot of projects and digital currencies, most of them are failed and unprofitable projects and some digital currencies do not have any value and it is better to avoid working with these digital currencies.

[M.bello 1015]

Hello everyone the only thing can say is I only know of bitcion, litecion, ethereum but do not put yourself in any form of investment without knowing how it work, acquire the knowledge first before you could go in to the business @Mubiflow

[Zeshan Khalid 2577]

Observation is the most legit way to determine the good projects. When we observe the markets for some days before investing, we can see many coins appearing and disappearing before us. Then we can easily differentiate between scam and legit coins.

[Gluttony 1775]

If ever you wanted to play safe in investing crypto currency, I would say that it would be better if you invest to those which are already well established and well-known crypto currency to avoid loss in the future and fraud as well because of being in the unknown state of the crypto currency that you do not know well yet. If you wanted to risk it badly, then it would be better if you would research to that specific project to know if that would be worth investing since there is a huge possibility that it is a scam if the source of it is unknown.

[Amiami 1362]

I think that the main thing is to consult the legal bases of the cryptocurrency, in order to know if the information is real, the second most important thing is to know who is behind the coin, the CO's, the community managers and other important individuals, alike The best way is to bet on projects that are already established in the market, betting is not usually the best idea

[Teminali69 1081]

There is no 100% way to say a project is legit in crypto, we have heard of onecoin and how they manipulated and scammed thousands. But you can do your research and have atleast 60% sure that you are about to invest on a legit coin.

[KHALED ADWANI 1216]

Stay away from decentralized platforms because sometimes there is a cryptocurrency with the same name, but the currency is not the real one but rather it is fake
Confirm what project is based on that coin and how it was mined, burned or obtained
If that currency is capable of inflation then stay away from it as much as possible because an investment cannot succeed in the presence of inflation

[Biojay 2080]

Cryptocurrency is known to be legit when it is found in the coinmarketcap, because any cryptocurrency that is not found in the coinmarketcap is a fake currency so let us all be careful of the currency we invest on.

[setifien 1016]

By tracking their team activity and wether they work to improve the whole network of their coin, and also by reading their whitepaper and their plans to achieve the pre stablished goals; you may also take a look to the social network accounts of the project, they give a general view of the credibility of a given project.

[Zeeehussain 558]

To know about whether which cryptocurrency is legal you should search it on different platforms of search engines and you will get valuable information about that. But there also many variations regarding cryptocurrencies. Some cryptocurrencies are legal in one country e and at the same time they are illegal for another one. so this also vary from country to country because the laws of every country are independent of others. So you should need to keep every kind of information.

[Garion hirao 550]

I just check social media of the cryptocurrency, how well it is developed, how many goals project accomplished in the recent months, and it would be good for them to have capitalization

[Wane Rastuar 583]

This can be done easily by reviewing the platforms that support that currency. If the currency is present in large platforms like BINANCE, this means that it is a strong and reliable currency

[Idaho Bruk 573]

I don't prefer to deal with any of the Cryptocurrencies i just deal with some of them which is listed in coinmarket cap and such listed coins are legit according to those list i prefer some of the coins to deal with

[Nupeboy 627]

As for me I don't have any idea on that but I will advise you to go on for more research contact people that is to say the experts am sure they will be able to know what it is 

[Quickbee 26]

There is no sure shot formula in determining the legitimacy of a particular Cryptocurrency. So the best way is to read the reviews. See if it is listed in Coin market cap. Another way is to use Google search to find out the details about the particular coin, like introducer's background and address and contact information. Lastly see the volume of trade. Volume trading shows it is quite popular and active in the exchange.

[abohasnn9 2401]

My friend, I think that Telegram is suitable for this task, as there is a special team to verify the bots and their credibility and also verify the validity of the currency, then it is allowed to create the bot for him so I think that Telegram must be used logically as it is very sophisticated and combines several social networking sites within one simple application Thank you

[Syriana 350]

My friend, if you need to prove the legitimacy of the cryptocurrency, you should review the history of the currency and its origin, since it began in 2007 and has credibility. I expect that it is sufficient to prove its legitimacy and safety. You can work with it quite easily and transfer your money and your profits.

[m7md 0]

We must measure the currencies that we want to buy, as we must make sure of the correctness of the currency and make sure that it is not counterfeit and we confirm that it is active in buying and selling your money to preserve your investment

[Amna Hareem 1213]

On 4/24/2020 at 3:02 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 are right dear there are many currencies that are scam but the best solution is this we can it should select the old currencies that are popular and ala profitable and never elect new coins many of them are scams and i am mostly selecting  bitcoin and it is popular and also profitable and I think it is difficult to elect those that are scam so the best option is this only select more using and popular currencies.