How to identify fraudulent in crypto currencies projects?

[Ms.o 3322]

Blockchain and cryptocurrency technology are growing very rapidly and as it grows fraudelent act comes with it. There are no guarantee that any cryptocurrency projects will be legitimate or successful,there are also no project that gives easy money,so one way to determine if it is scam is the promise of high returns so better be careful and wise always.

[SuperCrypto 7193]

2 hours ago, Jump said:

Wow this is a helpful post for an beginner like me. Now I know what is n fraud and what type of scam is the scammera using. We should always stay on the alert.

You may have encountered your fair share of scams and deception, as some fraudulent projects like “Bitconnect”, “OneCoin” and “CentraTech” have fully played their role in investing in many investors.

[bentayebsalah 2280]

Yes your advice is useful and good and it can determine whether the project is a fraud or good and always in any project or currency invest what you bear the loss and do not put everything in it that you have

[SuperCrypto 7193]

14 hours ago, Cryptotanu said:

You have picked some good points to judge a project whether it is good or scam. I wold like to add some more points like checking their social media profile and latest activities, reality and possibility of road map, developer team who are involved with the project, Past experience of CEO.

The point you mentioned is very important. It is useful to know whether the company is registered in a trusted legal environment or not. In some countries, company directors are required to disclose their previous biographies and projects. Often, this information may indicate the knowledge of the project owners.

[Nezar 7169]

Good advice and very useful for everyone Because the crypto world contains a large number of scammers, so we must follow these tips in addition to other advice so that we are not subject to any fraud or theft of our money.

[SuperCrypto 7193]

On 4/16/2020 at 2:43 PM, Jone20 said:

The white paper is an important part of the project, so it must be checked and if there is a summary, confusion or copies of another project, these are indications of a fraud. ICO is not just creating a token and selling it on the market. There should be a correct explanation about the symbol and the project.

Yes, one of the important things in any Crypto project is the white paper because it is the mirror of any institution and the investor must check this main document in detail and search for any gaps or errors in the sentences and offers presented therein.

[Honny143 13612]

Present in online no one easy trace any company are project real are fake, because scam projects also behaves like liget but don't join in starting stage wait some time, and check reviews and watch videos in you tube, when you satisfied to check this results then join its the safest way to check.

[teminalibug 309]

50 minutes ago, Honny143 said:

Present in online no one easy trace any company are project real are fake, because scam projects also behaves like liget but don't join in starting stage wait some time, and check reviews and watch videos in you tube, when you satisfied to check this results then join its the safest way to check.

There are sites dedicated to give reviews on sites if they are fake or real, and even teach how fake/scam projects look like.

[jacker 1095]

There are many ways to identify a currency, but it is generally just a focus on the currency's information. All the information, any information related to cryptocurrencies is worth exploring. then look at its reviews and examine its popularity in the market.

[Lover840 0]

On 4/9/2020 at 2:58 PM, 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.

 

You are absolutely right my friend. We should always be careful of the new crypto currency project as most of them are turned out to be a scam. I prefer to work in the top and listed platforms. 

[deepown 0]

21 hours ago, Sty1e said:

this is very difficult,the most simple but ineffective way is to read reviews on the network about a channel or project,if they are scammers, then there is not a small probability of finding information about it

My way of avoiding scams is to never send money to the companies that says to withdraw your bonus make your first deposit, that is a big shameless scam.

[SuperCrypto 7193]

21 hours ago, ritadhernandez1 said:

Hey mate, thanks for your information how we can identify fraudulent in crypto currencies projects, your point is real and we can apply those thing to find scam project in the crypto world. Now a day's most of the project are scam but we can do check the project member of this social media, we can also check the partner of this project etc.

Yes, this is an important point as many founders or project leaders market they promote the project through their social media channels and link them with the company's website, so this is an easy way to check whether the characters match or not.

[Ridam 7455]

The main thing is we can't be sure already before the coins listed on exchanges. Everyone pretend like they are going to win over btc but at last they all end up in 100 satoshi(not all but many) . Thats why before investment in any project and doing work we should think twice and main thing that i would consider is Investor. But this thing is also ruined after Facebook Libras project.

[SuperCrypto 7193]

1 hour ago, Ridam said:

The main thing is we can't be sure already before the coins listed on exchanges. Everyone pretend like they are going to win over btc but at last they all end up in 100 satoshi(not all but many) . Thats why before investment in any project and doing work we should think twice and main thing that i would consider is Investor. But this thing is also ruined after Facebook Libras project.

This is true, as a lot of new currencies have emerged that they said will reach the moon, which is a common phrase, so you should pay close attention when you hear it and look for objective reasons that will make this coin fly to the moon or is it just propaganda.

[Trader21 1199]

Sometimes it is really hard to identify fraudulent in cryptocurrency. That is why there are really a lot of projects. You don't know which one you must trust. In my opinion we must try to find the best popular project. 

[SuperCrypto 7193]

8 hours ago, Saiful890 said:

Don't put everything you have into it, and always invest in a project or currency that you suffer from, and it can determine whether the project is a fraud or good and yes your advice is useful and good

Yes, my friend, knowing that it becomes difficult to be exposed to deception and fraud, so you must get acquainted with some of the methods used in fraud and know their types in order to prevent and protect against them and from falling into the net.

[Syedbesharat 5423]

These are very basic points which are must considered before investment in any project.These scamming project ruin the future of new developing project where they are dead because of no investment.We have to make good research and run some extra miles for verification.We can find them easily because lies doesn't have legs to stand .We have to check their advertisers also.

[Zaino34 0]

Thank you for sharing this information. You are right. We must be wary of fraud sites. The most important thing is to verify the site, the date it was created, and proof of payment until we know that the site is reliable.

[Whited35 15285]

On 4/9/2020 at 3:20 PM, xpertt said:

This is a good thing to know especially when you were a first timer or a newbie to this kind of career, there are a lot of people getting fooled by scammer and that is the reason why we need to conduct our own research first before investing our money in a project that has a possibility that this project will scam you.

Sometimes our own research also gets flopped because scammers are cleaver enough to cheat users. I badly got a scam project Ultrachain. Where scammers have managed everything genuinely to cheat the users  from all around this world. So best idea, we can follow the expert's guidelines and warnings.

[SuperCrypto 7193]

3 hours ago, King98 said:

My first suggestion is to trustPilot for the site and CoinMarketCap for the currency and to review each site before joining it. There are many sites that can give us reviews and the best way for us to identify them is in it.
 

Currencies in the initial offering stage are definitely not yet listed on CoinMarketCap and this does not mean that their project is necessarily fraudulent. It may be a successful project and you can make a profit, but studying the project is a better guide.

[Dark_Sky 8489]

On 4/10/2020 at 2:26 AM, malik6314193 said:

It is great topic which will help us to get the scammers easily. Thanks for sharing this useful information with us and i will also suggest to be careful about these things. 

That's right. 

So next time we can avoid being scam by those who have a bad intention in our coins or accounts.  

I hope scammers get caught and they pay for what they doing. 

[CryptoMaxim 2372]

On 19.04.2020 at 17:13, Majeshi said:

I think the best way for us to identify scammers projects its to search reviews of every site before joining. There are many sites that can give us reviews but my first suggestion is trustpilot for sites and coinmarketcap for coins.

You are right, searching for reviews can clarify a lot about a resource or ICO company. I also want to add sites that offer a large percentage of payments or a large amount for attracting referrals usually scammers.

[SuperCrypto 7193]

On 4/23/2020 at 11:34 AM, Ganhanmarin said:

It I not about studying the project now,  have you heard about pump and dump  before, such coin can seem so not scam but still a scam. 

Certainly I heard about pump and dump and I never encourage entering into these operations because it is a hoax and causes the loss of small traders and the whale profit that organizes these operations only.

[Raqeebzy 6456]

A very good piece of information for everyone to look into, especially some of us that invests or trying to go into investment. This will surely go a very long way to help. Thank you and more of this. 

[SuperCrypto 7193]

On 4/24/2020 at 2:12 PM, bqolarer said:

Sometimes no matter how much you research you can not find out if a project is fraudulent and scam, but at least if you do your research about them on google or social media you can tell yourself that you tried.

Of course, there is no 100% guaranteed project, but searching for the project and its goal and the team behind its development and reading the white paper can reduce investor fraud and make sure of the project by 90%.