Don’t fall for crypto scams with these tips!
There are many bastards in the crypto world, with these tips you will not fall for crypto scams.
Even though the cryptos are in a dip, you can still make a lot of money with it. Handy guys are responding to this and raising money for their crypto project. But not all have good intentions.
Tips not to fall for crypto scams
Analyzing crypto projects for investment purposes is a real skill. You can compare it to fundamental or technical analysis on the stock market. So it’s not all easy. Unless you just want to take a gamble.
We advise against that. Don’t invest blindly, because then you might end up empty-handed. After more than a decade of existence, the crypto industry still sees the occasional crypto scam and these scams continue to evolve!
Always look at them media presence. View the publications of the project website lists. Often companies hire PR agencies that try to add backlinks or short mentions about a new crypto project to news articles. If so, it doesn’t count as a full feature. It just goes to show that the project is trying to artificially raise awareness.
A good project always has a advisory board and project support. View the project’s partners, funders and advisory board. This can give you a lot of information about the maturity and professionalism of the project.
Always look at the state of the project. Does it already work? Avoid projects that have not yet been developed. We’ve seen many crypto projects that promise high-end features like scalability, interoperability, or low cost, but never deliver what they promised.
Try to determine if the project already has a proof of concept built, or whether they already have a blockchain test network. It’s a positive sign if they’ve already started developing the product and gathered a small community of beta testers. When people volunteer to try a product, they see value in the project.
