How do you determine if a cryptocurrency is legit?

[ShiNorton 906]

I can easily detect fake or real cryptocurrencies. If crypto has lower trading volume in the limited exchange platforms then such types of coins are generaly the scam & shit coins. Also the coins from the new & the project with unknown technical details are fake & we shouldn't invest in such currencies.

[zagzag 320]

I use 2 control methods on this issue. First one; I'm searching from the Coinmarketcap platform. The second is; Checking whether it is listed on reputable and trusted cryptocurrency exchanges.

[miskyming 1588]

You better to stick the old coins if you want to invest. Nowadays new coin can be risky now to invest because mostly of them are dying, can not survive for long so you better to pick the old coins or in the top coinmarketcap and hold it for long, you will gain profit in the future.

[koynayak 1923]

Currently there are more than 8.000 crypto and it's increasing day by day. I think we should have to be careful while chosing crypto for invest.  I usually check their website project and their whitepaper.  I also don't invest  higher than top 300, but if i invest big amounts i'll try to chose inside top 50.

[Robert William 590]

I think the only way to check whether the coin is legit or not is through coinmarketcap or coingecko. If the coin is listed and has a great trading volume and also is listed in some big exchanges then it must be a legit coin and some coins are not shown in cmc but are listed in exchanges and they are also legit coins I guess

[Crypto-Warrior 506]

On 4/24/2020 at 3:02 PM, Naylor89 said:

So what's the best ways that actually can be used to tell the legit ones as cryptocurrency?

@Naylor89 When I was a beginner on this forum and new to cryptocurrency, I was also curious about finding answer to this question. Where I found a good website named Coinmarketcap. As I have spent most of the years on PTC (paid-to--click) websites and after being deceived most of the time I found Foxyrating same is with cryptocurrency it has some popular websiites to know about legitimate currency (check on coinmarketcap) or to check an airdrop either legit or scam Coingecko is best. 

[jnbezchess 1066]

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?

Reliable and guaranteed currencies will be entered on the famous and trusted global trading platforms. From here we will be able to determine if the currency is suitableو in addition to searching for it in search engines and studying the information of  it.
 

[susan8929 811]

I think that the easiest way to determine if a cryptocurrency is legitimate is to analyze if it is in Coinmarketcap.
In case it is in Coinmarketcap, it is essential to see its daily volume and the exchanges that have it listed.
It is necessary that the volume is acceptable and that it is listed in a good exchange for it to be a good crypto.
The easiest way is to invest in the cryptocurrencies that are in the top 100 of Coinmarketcap, because they are big projects with a good future.
The rest of the currencies are more unknown and therefore risky. It is possible that there are good projects, but also many that in the end end end up being scams.

[Naseer Ahmad78 721]

If you want to check crypto is legit or not,then see it marketing price and its demand,i think that crypto is legit because of high price and publicity having good security,we can also see  how it is developing by seeing his projects which are being launched.

[ABIR21 426]

There is no specific way to determine cryptocurrency legit or not. But you can know legit or not from google and YouTube. To determine it you need hard research and you can read review on google. 

[Ahmad ah 1212]

Cryptocurrencies are too many and many of them are illegal.
I believe you should try to deal with trusted currencies that have value on legitimate trading platforms or ask who is the most experienced before dealing with any currency.
I advise you to focus on working with old and reputable currencies.

[Russel 017 506]

There is no specific way to identify which coin is real and which are fake.By doing some research such as google search we can know about coin. We need to take expert opinion about coin. 

[David84 1191]

Do not go for currencies that no one knows or for ones that have nothing but an email. When you are investing you are putting your money, time and effort and you do not want all that to be lost. Choose well known currencies and google all the information you need to know before you start investing.

[Razan alikac 1899]

We can know this from the fame of the currency itself first and from its presence on famous and reliable platforms, secondly, monitoring it and monitoring the rates of sale and purchase in it for a period of time, there are currencies that appear suddenly and then vanish and the capital and dreams disappear with them, so we must beware when buying any unknown currency

[Farukatie 1271]

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?

My dear friend i thinks that there is no specific criteria to know about that these cryptocurrencies are legit or not. But the only method is that you should search on Google search engine and read the reviews of the people and in this way you can get to know about any coin.

[Adam786 560]

As we know there are a lot of cryptocurrencies in the crypto world therefore this is very difficult to know that what cryptocyrrency is legit but we can only watch the videos at the YouTube about that and can search at the any search engine to get information about that currency.

[khan22 3478]

When i got the profit in the crypto market than i trust on this becasue at start i invest in a low coin and that coin give me good profit and than the BTC make a great high and i make more money at that time.

[sinseoul 0]

If you wanted to know whether a cryptocurrency is legit or not, you should do a research about it. Check their papers, website, who created the cryptocurrency. Check things that are related to the cryptocurrency and from there, you should be able to know whether it is legit or not.

[zeshan1122 654]

in order to know you need to know or search few things like the team of the coin, the vision of the coin and the exchange on which the coin is listed by doing that you will be able to know if the coin is legit or not.

[Arratee877 272]

The criteria greatly depends on the power of research and enquiry, investigation of the project. You must be a research oriented member searching for genuine info about crypto currencies, making use of review site and other popular crypto sites like coin market cap to extensively study everything about currencies.

[Harbeeboullah 428]

For you to detect is the cryptocurrency you are about to invest on is legit I will advice the member to briefly go on research on the cryptocurrency, before getting self involve on, and its prefer to invest on the common ones to avoid been scammed because scammers are now all over.

[Lokeloke 576]

On 4/24/2020 at 11:02 AM, 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?

Don't always fall for scams, you need to be wise and the best way to do this is to ask from experience members in the crypto world or rather still ask for their opinions about the coin if you're ready to invest in them so they can recommend if it's the best or not

[Zeshan7736087 287]

There are platforms like coin market cap and coingecko which can guide users about the currency. Even on exchanges we can see price trends and trade history of coins to have some idea about a coin being legit or not.

[mzk7736 1592]

If the coin is listed on exchange for a longtime and many people trade on that particular coin daily. Means that it have a good trading volume then that is certainly a legit coin.

[Ameralsamt 2558]

My friend 90% of cryptocurrencies are fake and counterfeit, not real, it's scam currencies, and in return there are a few cryptocurrencies that are reliable, real, and very famous, legitimate, being the most famous.