How to Identify Cryptocurrency Scams

[Zentoly 419]

1 hour ago, hina said:

You cant belive on any of person he say about sel or buy with them and avoide them dont trust any of one people so friends just i waana to say that dont belive on mony to any person.

Right to say mate we should not trust any body when they offer to buy coins with me because sometimes they are steal are money so just buy and sell coin in exchange.

[mrbe6436 6]

ICOS nowadays are mostly scams, while there are other legit ones but it's destined to fail because people lost trust on ICOS so no investors would put that much money on it. The projects cannot even raised their softcap there's no way to develop their project.

[minhl86723 8]

Why don’t you go to Apple and ask them when they will start accepting Bitcoin cause this question doesn’t fit in anywhere here? Maybe if you asked Apple direct, they will tell you whether they planned on accepting Bitcoin and when they planned to do so. None of us works in Apple, and stop describing them as closed, or not helping, cause they are not doing anything wrong. By the way, Bitcoin is not to be used as payment for anything, it is just for investment.

[manhh7652 8]

Agree, there are many ways to make a profit in the cryptocurrency market. Although ICO is now starting to fade, there is IEO that is replacing and might be an alternative in funding new projects. In addition, we can do daily trading and many people assume that trading is one of the quick ways to double our portfolio

[zhaazure27 524]

On 10/26/2019 at 4:37 AM, dextrolker said:

How do people usually see if something in this cryptocurrencies world is a scam? Emails, websites, products, icos, etc... what is your way of protecting yourself from these scams?

For me, seeing if it can be said to be a scam or fraud is when we want to withdraw funds, we are told to make a minimum deposit for the money disbursement of funds. From there I saw and guessed that the site was a fraud.

[joveda 11]

Some people were cheated because they do not research before investing. If you crawl ask yourself whether their information is true not because even though they have many followers but that does not necessarily mean that they are legitimate. Be responsible for now you will fall into a fraud.

[mrbe6436 6]

If you want more profitable investment, don't get into ICOs because they are dead now and the new trend is IEOs which are better than ICOs because they are efficient because they are already listed in an exchange and there is a bigger chance to make a profit in IEOs compare to ICOs because the hype is better as long as you join into big projects and not to those sketchy IEOs.

[suzuya 945]

If the people's offer is too good to be real like he will make your $350 to $2500. It is really hard to find out whether it is real or not because we really do not know the person we are transacting with.

[SyntaxEr. 709]

I usually check the team behind the project, if they can't provide it then it is a red flag for me. I'm instantly leaving the project once I know that they don't have a real team.

[khan22 3478]

On 10/26/2019 at 1:37 AM, dextrolker said:

How do people usually see if something in this cryptocurrencies world is a scam? Emails, websites, products, icos, etc... what is your way of protecting yourself from these scams?

If i buy any coin first of all i searched about that coins and then check that the history of that coin. History will told you everything if that coin is regularly trade in the market then we can buy that coin easily because trading coin is a real and good coin in the market.

[Raven 7817]

I think it is very difficult to identify which crypto currencies are scams. You need a lot of experiences and do some research to identify the crypto currencies scams. But what i'm doing now to prevent those scam sites is i don't approved the proposal if that site is not trusted by many people. That's for me. 

[Tine0313 3053]

Well i think the best way to avoid scammers is don't click links that you are not sure what is for all about especially links sent in your emails, it prevent you from scammers.

[manhh7652 8]

Concepts that doesn't have real  possibilities should also be avoided, it's a sign of nothing will be accomplished along the way, those scammers always have a good sets of promises but there's nothing to provide, avoiding them is a must to lessen chances being scammed.

[minhl86723 8]

After checking the site of the project I can conclude this project is legit or not. It is as simple as that for me. What they wrote in the whitepaper doesn't mean anything to me if there is no capable team which can count ten successful projects they were part of it.

[bean 515]

The way to identify cryptocurrency scams, is to look at what they are offering you and what you are giving them in return, most scams always offers things that are not possible, if you see a cryptocurrency promising millions over night it is a scam.

[Emma 611]

39 minutes ago, Hasan420 said:

At least when a proposal is far from reality with unsustainable percentages it is an indication of a scam, if something is too good to be true it usually is not.

But newbies can't find the difference. They think, earning a lot of money instantly is really very easy in crypto world and give their money to the scammers.

[miran523 70]

Yes indeed, for now many ICOs end up as scams. And therefore, many investors are starting to hesitate to invest in a project because of the many scams. This is cryptocurrency, a free market that everyone can participate in and of course there is always a risk in it. So, everyone must be prepared to face the risks and do something that they think is right to do.

[camren653489 57]

As an investor we have the tools to check whether the project is shady or may end up failed in the end. You are responsinble for your own funds, it doesn't matter what the teams project promised to do, you must see and milestones or roadmaps that have been achieved.I agree, the main idea/goal of cryptocurrency is decentralization and transparency

[FlatterCar 696]

It seems to me that to understand whether it is a Scam or something else is quite simple, since I once myself almost fell for such a moshenic scheme on my mail, it was just written that you won on The bittrex 1 bitcoin exchange, in order to get it write to us, and there was a link to a copy of the exchange and I almost entered the data of my account.

[bucuc342 20]

 IEO is the latest alternative from ICO, which is a development and still functions same, namely as a fundraiser. Some investor concerns are a bit helpful here, but there are still many projects that carry out IEO on exchange and the team does not provide any development news. In fact, there are still several new projects that hold ICO.

[rakib7970 217]

Which offer you more, scam you more too. There are some ICO projects which will offer you to send them ether into their wallet in return of their tokens. Please don't do this. They are actually scammers and their ICO won't  be listed any more in exchanges. 

[minhl86723 8]

The only thing that can stop scam are the regulations, but if we would implement hard regulations we will lose the major feature of all crypto currencies and this is the anonymity. I will rather stay decentralised and will avoid scams on my own.

[camren653489 57]

As I would like to think, the banks worldwide need to enormous influence since they control all the cash. Those individuals who claim this banks are not trustfull and they manhandle they control for some awful things which occur on this world!I think we require bitcoin or some other cryptographic money to get back the influence.

[teminalibug 309]

On 11/18/2019 at 1:21 PM, olalitt52332 said:

If I want to know if an ICO is a scam I will look out for all their social media activities. I have a huge preference for telegram group because there are lots of ICO that will not have telegram group and still come out that they have an upcoming ICO.

ICO is not a scam juts some ICOs are scams, and as time goes more scams are showing up in ICO, and solution for this is IEOs.

[miran523 70]

You are right the decentralized system is not centralized. so that all security is in ourselves. ICO has now replaced IEO to create new support through large exchanges. but that does not guarantee the project will become a scam. choose the best project to invest in blockchain. so as not to fall on the ICO scam and other traps.now ICO has begun to be forgotten. because it no longer provides a good future for investors and project developers. yes, one reason is that too many coin projects are born. thus damaging the blockchain ecosystem which has the aim of making a better economy and transaction.