Three ways to find fake currencies on the Yobit

[kizz 3370]

I think there is no fake currencies, there are "trash" or has a low value of crypto currencies. Yes, before trading or investing in crypto you must have a proper research and knowledge about that.

[Moaz 7239]

You are absolutely right, you mentioned the most important ways to detect fackes currencies on any platform and not only in the yobit, so we must be careful and be patient and follow these ways in order not to invest in a dead currency and thus lose money

[Cammer 4609]

On 1/31/2020 at 12:37 PM, SHAABAN199 said:

Three ways to find fake currencies on the Yobit platform:

1- Before investing in any currency I am looking for on this site (https://coinmarketcap.com) for currencies, this does not mean that every currency on this site is a real currency.

2- Search for the currency within its official website, form, and white papers, in addition to the currency road map

3- Don't invest immediately, wait and slow, as fraudulent currencies go up quickly and fall faster in less than a minute

There are many other ways to find fake coins ... and every trader has his own way of finding the right path

It was pointed out that impulsion and impatience are the most important factors in the loss, so you are waiting and not rushing, because the stock market in general or trading is what "

Except for an attempt from a patient merchant to a less impatient dealer

 

Thanks for sharing these tips. I always see what experts think of a certain coin in the market. Then I will definitely know if that coin is true or fake.

[Ayush Singh 1175]

Exactly i also prefer to do these research before investing and trading in any of the coins mostly we should preffer legit coins which shows in coinmarket cap so before investing and doing trading with the coins i try to find it in coinmarket cap and i study about such coins from Google. 

[Divya rana 1252]

The question which is of public concern is that how can fake coins be listed on the Yobit , this shows that there is some loop holes in the security of the server and that arises a risk of people information and cyber crime.

[Dark_Sky 8489]

On 2/1/2020 at 12:10 AM, Muhammad Haroon said:

Good instructions, By this post, many people will learn how to invest properly? I think patience will give you reward and haste will give you loss. We should examine all perimeters before taking an action.

Just don't rush and wait for the right opportunity. 

While waiting think for some better strategies that may lead for you to success. 

[koussai999 1986]

I think that we really have to fully check before investing in cryptocurrencies because there are many untrusted cryptocurrencies in which investment can be a waste of money

[BTC Future 3946]

On 5/26/2020 at 5:21 PM, Moaz said:

You are absolutely right, you mentioned the most important ways to detect fackes currencies on any platform and not only in the yobit, so we must be careful and be patient and follow these ways in order not to invest in a dead currency and thus lose money

Basically the op did gave a few pointers but this doesn't mean that other altcoins are legit just because they are listed on an index or they have a whitepaper. There is need to perform due diligence when investing in a coin for the long run. We should examine the whitepaper and find out if it is plagiarised or real, find out the team behind the project and figure out if they are real or fake identities and many other details.

[Kawuak 142]

Thank you my friend for this vital information and I think the best thing to do here is to make sure you read the white paper and roadmap including the previous history of the developers of that coins, believe me these are not only applicable to only yobit exchanger but to all exchangers in cryptocurrency world.

[Wilmer Garcia 0]

You're right and I agree with what it says we should do a thorough investigation before investing in a very little conicity currency and we should not fall into impatience is very dangerous and can make us lose a lot of money

[betelihem 4766]

On 1/31/2020 at 1:37 PM, SHAABAN199 said:

Three ways to find fake currencies on the Yobit platform:

1- Before investing in any currency I am looking for on this site (https://coinmarketcap.com) for currencies, this does not mean that every currency on this site is a real currency.

2- Search for the currency within its official website, form, and white papers, in addition to the currency road map

3- Don't invest immediately, wait and slow, as fraudulent currencies go up quickly and fall faster in less than a minute

There are many other ways to find fake coins ... and every trader has his own way of finding the right path

It was pointed out that impulsion and impatience are the most important factors in the loss, so you are waiting and not rushing, because the stock market in general or trading is what "

Except for an attempt from a patient merchant to a less impatient dealer

 

Yeah this trick is best and will save our moneys more than we think, but there are so meany new tokens ever day they come and go, but i don't think we can get full information's about them coins like corona and water tokens they are only for some times but they don't have full information's.