Scam Crypto Currency Red Flags

[Rickso 768]

invest only in coins that have a good volume, that have a real people who are working for it, so make sure they have social media account where the show their own faces. another thing if they ask for money so they are trying to scam you

[Laboni 755]

I think we should all be away if there are such signs that the coins that are red flags in investing in crypto are usually scammed. The scam is meant for brick.

[Bookpay 26]

On 1/19/2020 at 6:01 PM, MeiLynh said:

I thank you for the details so I know a prestigious program to join. I also want to participate in some ICO programs because it donates a lot of tokens, I will rely on the factors you give to choose.

Whenever you try to join any sale then try to join IEOs because they are sure that they will be listed. Yobit IEOs are very beneficial because the trade on yobit is amazing. 

[duncun007 3577]

16 hours ago, Bookpay said:

Whenever you try to join any sale then try to join IEOs because they are sure that they will be listed. Yobit IEOs are very beneficial because the trade on yobit is amazing. 

i have seen a lot of scam IEO on many exchanges and i think on yobit they even dump harder, a few days ago this coin called 10x was trading at 23 satohsi and now it dumped to just 1 satoshi.

[Naga 1250]

i think pretty much nobody actually check the team members and nobody nowadays even bother reading the white paper and for this is why more people fall for scam coins.

[Sehr 288]

I dont think  peoples read all your lines and points they have no time for lectures bro there is lots of work everyone is busy in their life and work people have experience in their feilds 

[Amirul Islam 382]

On 10/26/2019 at 8:10 PM, GhoulSlayer said:

We all want to invest in a legit company in the crypto currency world but like everything money related there are those who wish to take your money and run leaving you with nothing. Here are some red flags to help you determine if a token or ICO is not on the up and up.

 

#1. The Team Members

A real legit company will list the full names of all team members along with their background and experience. I find team members who also have LinkedIn pages with their full work history to be the most credible. Watch the photos posted. I have seen cropped, vacation and even cartoon characters. Unless a professional photo is present, I say avoid.

#2. The White Paper

Most white papers are used as a marketing tool. They will tell you about the service/product being offered. A rule of thumb is 2500 words minimum, it should have key product or service highlights. It is a marketing tool and should read like one. If the white paper seems unprofessional and doesn't leave the reader with a better understanding of the product or service offered as well as the benefits, it's a red flag the person didn't understand what the white papers purpose was.

#3. Blockchain & Source Code

Blockchains are a good thing. It's an open transparency into the dealings of a company who deals in crypto currency. The blockchain records everything that has happened since the company went live. Any alterations to a blockchain, like restarting a blockchain, these companies should be avoided. The source code within the blockchain should always be visible as this is what crypto currency is all about open transparency. If a company is hiding a source code something is not right and this token/coin should be avoided.

#4. Company Public Statements

A public profile and presence by a representative is vital to a companies image and public trust. Image is everything and the smallest public infraction can send even the biggest companies spiraling. How professional is the spokesperson? Does he or she always act with the companies best interest or are they combative? A company representative reflects the company, how the company works, how the company is run. Public statements become public record, and the utmost care for a spokesman must be taken into account, as their future depends on it.

While this is just a short list you may have other points to add and I encourage them all! Hey if you liked this post please give me some love!

In this crypto market there are maximum scammers here who always try to scam with people. Always we have to verify before invest on any project.

[dewita 12]

thank you for the direction hopefully by reading your posts I can avoid ico scam in crypto
 

[Gunhoo 91]

There are a lot of scam projects since a long time ago. But the last few years, has more scam schemes than ever. So many projects that already has red flagged, so we need to be careful about them. Don't even try joining a shady projects, either ICO or IEO. Unless they're that legit, which is also hard to know.

[Irungu 4299]

Oh so thats how you do it, but there are so many how do we understand how to filter those that are good and those that are as bad, because hundreds of them there is a lot of information , there is a lot of good information over the internet and can help you understand each as we all go

[ram007 391]

well,nice informations,but those ico's issued white paper and team members looks real,those scammers already anticipate what we are thinking also so they will provide us informations,that looks legit but its not,so its really hard to determine which is which. being more vigilant is what we should do and avoid dealing on like that as much as possible,trust those crypto in the market already or being list.

[Heroshema 0]

Very helpfull topic with smart and new show .. its important to know how to protect yourself from scam projects 

 

[teminalibug 309]

9 minutes ago, Fazle rabby said:

I thinkI hope it work out these scams ico are causing plenty trouble in the crypto world, if  this guide can safe many for huge loses it will be great time

We should not just worry about scam crypto, we should also worry about crypto that have weak team so they could die at anytime.

[babaji 1228]

You should also look at how the company is communicating, because you are dealing with huge hordes of people if you get a lot of investment, and in that case you need managers who would constantly update the masses about the production or delay in the release of the product. 

[iloveyobit 6599]

Thank you for this valuable information. Actually, everything you said is true and includes the evaluation of currencies and the real knowledge of the quorum, and everyone must read and understand it well.

[George10 9932]

Its true I agree with your point of views its helpful especially to those new to crypto its always a first thing to check on the data of each company you want to invest..and also to do more research on Google due to many crypto scam investment companies out there by doing so you will save your coins from scamers..

[bliznec 22267]

First of all, I read a white paper, in order to buy bitcoin or other cryptocurrency. This is very effective, since the white paper provides all the information about the coin.

[Sumayya 493]

23 hours ago, Wrong boy said:

Obviously the scam cryptocurrency is red flag.We knows that red flag is dangerous thing and scammers are dangerous for crypto.      

It is a red flag and also it discouraged people from loving cryptocurrencies they think they are all scam.

[bentayebsalah 2280]

One of the most difficult things in the field of cryptocurrencies is finding a good and honest project or strong currency, and this must be studied well before joining any project and checking its credibility.

[Interface User 1070]

The documents and white paper is needed to have a hardcopy of information you needed to have an evidence that crypto currency project is a legit and not scam. Maybe to know the validity of the coin focus on its users.

[MysteriousIdentity 150]

On 10/26/2019 at 10:10 PM, GhoulSlayer said:

We all want to invest in a legit company in the crypto currency world but like everything money related there are those who wish to take your money and run leaving you with nothing. Here are some red flags to help you determine if a token or ICO is not on the up and up.

 

#1. The Team Members

A real legit company will list the full names of all team members along with their background and experience. I find team members who also have LinkedIn pages with their full work history to be the most credible. Watch the photos posted. I have seen cropped, vacation and even cartoon characters. Unless a professional photo is present, I say avoid.

#2. The White Paper

Most white papers are used as a marketing tool. They will tell you about the service/product being offered. A rule of thumb is 2500 words minimum, it should have key product or service highlights. It is a marketing tool and should read like one. If the white paper seems unprofessional and doesn't leave the reader with a better understanding of the product or service offered as well as the benefits, it's a red flag the person didn't understand what the white papers purpose was.

#3. Blockchain & Source Code

Blockchains are a good thing. It's an open transparency into the dealings of a company who deals in crypto currency. The blockchain records everything that has happened since the company went live. Any alterations to a blockchain, like restarting a blockchain, these companies should be avoided. The source code within the blockchain should always be visible as this is what crypto currency is all about open transparency. If a company is hiding a source code something is not right and this token/coin should be avoided.

#4. Company Public Statements

A public profile and presence by a representative is vital to a companies image and public trust. Image is everything and the smallest public infraction can send even the biggest companies spiraling. How professional is the spokesperson? Does he or she always act with the companies best interest or are they combative? A company representative reflects the company, how the company works, how the company is run. Public statements become public record, and the utmost care for a spokesman must be taken into account, as their future depends on it.

While this is just a short list you may have other points to add and I encourage them all! Hey if you liked this post please give me some love!

They are good inputs to trace those scam projects but they are not yet enough to fully avoid them so it will be good if we become wise and think twice before investing to any project. 

 

There are many projects that I saw, they are very genuine to look and even the investors are flooding but the time came that the team behind it just fade after receiving the huge amount of investment. 

[Epic 289]

Good point, people who starts a public offering should be transparent, they should not be afraid to release their information if they believe in their product. Those who hides their identity are afraid that if anything goes wrong with their project, the investors will come after them, which is only natural and comes with the teritory.

[Picksolution 19]

On 10/28/2019 at 7:33 AM, duncun007 said:

Do you really think people would read all this? People no longer even read the date on their food. But to sum it up don't invest in a project before checking the team and read the white paper which is something not a lot of people do.

everyone should be careful before investing in any project of any type. there are many many scam sites now and they can easily make you fool as scam websites look so real but yeah before investing in any project read a white paper.

[Captain Karim 0]

Thank you for sharing these tips and important information to invest in cryptocurrencies, I think the most important thing is to study the white paper and the team and its reputation in the past, it is what determines the success or failure of the project.

[Sasaki 171]

Well good information it helps me to learn more about some scam crypto project, well not all cryptocurrency project can be surely 100% sure to become successful some of it is just scam so we need to be careful as always when seeing some crypto projects.