How to identify fraudulent in crypto currencies projects?

[cryptovlek 2597]

On 4/9/2020 at 12:28 PM, SuperCrypto said:

Checking the project on news sites: I recommend checking the type of newspaper articles about the project to see if they are written objectively, or published as part of a public relations campaign.

You should know that many projects are paying these crypto news sites to make good reviews of them. The more they pay the better the exposure they get. They pay the youtubers too for interviews and ask them to make them look good. 

[SuperCrypto 7193]

22 hours ago, cryptovlek said:

You should know that many projects are paying these crypto news sites to make good reviews of them. The more they pay the better the exposure they get. They pay the youtubers too for interviews and ask them to make them look good. 

Yes, unfortunately, this happens sometimes, so we have to examine all the points I mentioned, familiarity with the project, its services, and the team responsible for developing it, not relying solely on social media and news related to the project.

[Cryptomint 433]

Yes you are right. But dear friend the scammers have a good mind then us they always grab money from the innocent people they can't touch the well experienced people.

[hatambaba 1064]

In my experience, the most easiest way to spot if a certain coin is just a scam is if they can't provide solid information about their coin, they don't have any website or their whitepaper is just copy pasted on other projects.

[Rigamer 91]

On 4/9/2020 at 5:28 AM, SuperCrypto said:

In the world of cryptocurrencies, we encounter a lot of fraud and fraud on a daily basis. Some fraudulent currency projects have recently appeared that deceived many investors.
How do you know if a cryptocurrency is a serious project or just a scam?

Tips for detecting fraud and fraud
There are some lessons that can be learned that can help you avoid scams and have categorized them as follows:

• The question of who is behind the project: Find the company, the founders and the project team, check out their social media pages.
• Partnership: Many Crypto projects claim that they have entered into many partnerships with big and well-known names but in reality they may be just their users and customers so this must be verified.
• Checking the project on news sites: I recommend checking the type of newspaper articles about the project to see if they are written objectively, or published as part of a public relations campaign.
• Reaching the moon: It is a common term for misleading and may be merely propaganda in favor of parties affiliated with the project aiming at deceiving and gathering the largest possible number of investors.

 

These were some tips and guidelines that can help you and make you familiar with even a little bit about the way fraudulent operations proceed. And please if you have other suggestions to add to the site and enrich it.

 

Thank you very much for sharing your analysis. the truth has never bothered me in that, in learning about what can be fraudulent projects

[Joseunda 35]

When do you not see much information about the project or something that supports it, it is very likely that is scam 

[Shaza Ahmad 1682]

Helpful article, I have advice to add it and it is a constantly updated site that contains the names of many dead or fraudulent crypto projects, it is good to look at it every: period
Website link: https://deadcoins.com/

[Cryptomint 433]

Yes these are some points which will show us that how we can be aware from the fraudulent activities and we can also take away from this in beginning.

[Mella 3680]

This is very good advice given in this post, I am feel that many of the tips are some things that we are over look and need to be better looking for when we are in the research for investments. I am most of all trade the top of cryptocurrency but I am think this post is giving a very good impression of how to find the scams in the center reason of their creation.

[zhoutong 2188]

I identify the dangerous cryptocurrencies as those that are holding at least 10% of the total supply in devs wallets. Anything more than that can easily be a big scam. Even 10% is big, but it depends on the nature of the cryptocurrency as some are identical to companies and would require some percentage to be running. Although this makes them centralized to have a need to hold coins like shares but I am treat some crypto like that.

More than 10% means the developers are planning to exit scam and dump all the tokens or coins in the market when prices are rising. Other projects like ripple hold more than 50% and were all premined. Two big red flags for Ripple.

[Rozy 1918]

With the rise of the sun of every morning a new Cryptocurrency is being created, the thing in common between all these newborn currencies is the promise that they are going to be very successful , and their holders will become rich. Do not be fooled by the sugary promises and go for well known currencies and exchange on the forums that are established long time a go and enjoy a good reputation. 

[kryptonick 2659]

With the new explosion of cryptocurrencies we should be expecting too many fraudulent cryptocurrencies. These scams will be like before, some will not even list, others will list and will dump all the tokens and others will appear and disappear out of nowhere.

[Onden 2098]

Thank you for the information, even though we already know that a project is legitimate and not a scam project, but if the project fails then we will still lose money, the risk will always be on the investment project. For that the safest thing is to invest in coins that are well known and listed on the exchange.

[BraveHeart01 1569]

I always see the team in order to make some investments in new coins because if the team is good enough and well known and is working hard it is the only way to know if the project will be a win or lose

[Zafar123 906]

Dozens of new cryptocurrencies launch each month, and alongside these new tokens and coins comes a series of initial coin offerings (ICOs). The appetite among a broad pool of investors for these opportunities has grown, even in spite of the fact that cryptocurrencies were battered in 2018. All of these factors combine to entice scammers. After all, if investors have proven that they are willing to throw money toward a highly speculative cryptocurrency, they seem to be equally likely to invest in fraudulent tokens or ICOs. 

CRYPTOCURRENCY INITIAL COIN OFFERINGS

How to Identify Cryptocurrency and ICO Scams

Dozens of new cryptocurrencies launch each month, and alongside these new tokens and coins comes a series of initial coin offerings (ICOs). The appetite among a broad pool of investors for these opportunities has grown, even in spite of the fact that cryptocurrencies were battered in 2018. All of these factors combine to entice scammers. After all, if investors have proven that they are willing to throw money toward a highly speculative cryptocurrency, they seem to be equally likely to invest in fraudulent tokens or ICOs.

 

 

For the cryptocurrency investor looking to make the most of the host of new investment opportunities while remaining safe from fraudulent ICOs and sketchy coins and tokens, the prospect can be daunting. Blockchain and cryptocurrency technology is developing at a rapid pace, and even experienced investors may find it hard to keep up with the terminology. While there's no guarantee that any cryptocurrency or blockchain-related startup will be legitimate or successful, the steps outlined below can help you to be as sure as possible that you're not falling for a scam.

 

KEY TAKEAWAYS

Fraudulent ICOs and sketchy coins and tokens abound, but there are many ways to help ensure that you avoid these potential scams.

One of the best ways to protect yourself is to thoroughly research the individual team members of a project before you invest.

A cryptocurrency or ICO whitepaper is the foundational document for that project. Companies that don't offer whitepapers should be avoided at all costs. Make sure you read and analyze the whitepaper carefully.

Any ICO will depend upon a token or currency system in order to facilitate the crowdfunding process. Legitimate companies and endeavors make the system itself and the progress of the token sale easy for potential investors toe token sale easy for potential investors to view. Watch token sale figures for the ICO over time.

Edited December 15, 2020 by Zafar123

[Abuhassan 89]

On 4/9/2020 at 10:28 AM, SuperCrypto said:

In the world of cryptocurrencies, we encounter a lot of fraud and fraud on a daily basis. Some fraudulent currency projects have recently appeared that deceived many investors.
How do you know if a cryptocurrency is a serious project or just a scam?

Tips for detecting fraud and fraud
There are some lessons that can be learned that can help you avoid scams and have categorized them as follows:

• The question of who is behind the project: Find the company, the founders and the project team, check out their social media pages.
• Partnership: Many Crypto projects claim that they have entered into many partnerships with big and well-known names but in reality they may be just their users and customers so this must be verified.
• Checking the project on news sites: I recommend checking the type of newspaper articles about the project to see if they are written objectively, or published as part of a public relations campaign.
• Reaching the moon: It is a common term for misleading and may be merely propaganda in favor of parties affiliated with the project aiming at deceiving and gathering the largest possible number of investors.

 

These were some tips and guidelines that can help you and make you familiar with even a little bit about the way fraudulent operations proceed. And please if you have other suggestions to add to the site and enrich it.

 

Thank for this awesome tips in addition to that checkmating their website domain is of utmost important this is another way to distinguish between legit site from fake site.

[godislovefll 1880]

On 4/9/2020 at 5:28 AM, SuperCrypto said:

In the world of cryptocurrencies, we encounter a lot of fraud and fraud on a daily basis. Some fraudulent currency projects have recently appeared that deceived many investors.
How do you know if a cryptocurrency is a serious project or just a scam?

Tips for detecting fraud and fraud
There are some lessons that can be learned that can help you avoid scams and have categorized them as follows:

• The question of who is behind the project: Find the company, the founders and the project team, check out their social media pages.
• Partnership: Many Crypto projects claim that they have entered into many partnerships with big and well-known names but in reality they may be just their users and customers so this must be verified.
• Checking the project on news sites: I recommend checking the type of newspaper articles about the project to see if they are written objectively, or published as part of a public relations campaign.
• Reaching the moon: It is a common term for misleading and may be merely propaganda in favor of parties affiliated with the project aiming at deceiving and gathering the largest possible number of investors.

 

These were some tips and guidelines that can help you and make you familiar with even a little bit about the way fraudulent operations proceed. And please if you have other suggestions to add to the site and enrich it.

 

And they also tend to cheat with their pre-sale, offering a discount of up to 1000% when this would greatly affect the value of the cryptocurrency, there are totally many projects with the intention of scamming in their pre-sale you just have to be careful with their offers because they are misleading

[Russel 017 506]

There are some tricks for identifing cryptocurrency and ico scames. First you should to know your team, checking  their white paper and token selling techniques. 

[Amr90 1064]

Important Tips Thank you.
Often when I am looking for a new currency project I check publishers and partnerships, however I wait a while before purchasing.

[susan8929 811]

Excellent tutorial for people who are just starting out in crypto and often fall into fraudulent projects.
I would also add that it is necessary to check if the currency is in Coinmarketcap and verify the exchanges that handle it. In addition, looking at the history of the volume is also very helpful to know if it is currency that is only pumped or if it is a serious project.
In the case of ICOs it is more complicated, so it is essential to apply the advice you indicate in your post.

[abdullah553 1981]

On 4/9/2020 at 11:28 AM, SuperCrypto said:

In the world of cryptocurrencies, we encounter a lot of fraud and fraud on a daily basis. Some fraudulent currency projects have recently appeared that deceived many investors.
How do you know if a cryptocurrency is a serious project or just a scam?

Tips for detecting fraud and fraud
There are some lessons that can be learned that can help you avoid scams and have categorized them as follows:

• The question of who is behind the project: Find the company, the founders and the project team, check out their social media pages.
• Partnership: Many Crypto projects claim that they have entered into many partnerships with big and well-known names but in reality they may be just their users and customers so this must be verified.
• Checking the project on news sites: I recommend checking the type of newspaper articles about the project to see if they are written objectively, or published as part of a public relations campaign.
• Reaching the moon: It is a common term for misleading and may be merely propaganda in favor of parties affiliated with the project aiming at deceiving and gathering the largest possible number of investors.

 

These were some tips and guidelines that can help you and make you familiar with even a little bit about the way fraudulent operations proceed. And please if you have other suggestions to add to the site and enrich it.

 

Yes, you must see all the details of the currency project, it may be fraud. They must make sure of the plan they have and are they really being implemented or are they only papers

[Abideen 659]

You can easily identify a fraudulent person by observation. If someone really want to scam you, he will insist that you should shere your personal information with him such as your pasword. Or if you want to Know a fraudulent site, it will require you to add your detailed information to the site before you can join. You are always welcome, and be vigilant.

[Serbberq 724]

Thanks for sharing this information, there are allot of fraud site now on internet most especially in cryptoworld bit with this tips we can identified  then and not to fall into their traps at any situation. 

[Cleaner 2549]

We know that new coins are being introduced in the crypto world.  However, not all coins project well.  Many projects are duplicated.  However, many do not recognize the fake project.  And they are deceived.  So we should check about every coin's project.  No one will use new coins without verification.

[abohasnn9 2401]

My friend, I advise you when you put your money behind your money, put it in a trusted place in order to insure it and invest it in real funds, not fake, and also to trade with enough profitable cryptocurrencies and own real lots of them Thank you