Scam is a very sensitive word and is probably what we would want to avoid most when investing in this market.
No one wants to invest in a scam project.
Sure!
But how do you know what a scam project is?
Are there any clues or signs that can help us guess what a potentially fraudulent project is?
The answer is yes, here are 10 signs of a project that you will want to stay away from:
Anonymous Team - Fake profile
Let’s accept this, the idea is very easy to copy and steal. Anyone can think of the idea.
Do you acknowledge that every day too many ideas over million dollars running across our minds?
So why are not we the millionaire that having those ideas?
Easy to understand, everyone can think of ideas but important who is capable to turn that idea into a service, real products.
New performance is the decisive factor in whether a project is successful or just at the level of the idea.
How to evaluate the performance of one person, a dev team?
A piece of cake ,just look at the results they have made.
Details on how to evaluate a dev team will be discussed below, but usually when analyzing an ICO project I try to understand very well who is behind the project.
This is one of the very important factors when evaluating an ICO.
So if any project does not provide clear information about the dev team including failure to provide information or deliberately fake profile, then Red Flag signaling a possible cheating project.No purpose to use the coin given
Why do we need to understand the purpose of a coin you want to invest?
The price of a coin in the crypto market is largely governed by the supply and demand rules.
When the demand is higher than supply, the buying pressure is higher than the selling pressure, the price will increase.
Conversely, when the demand is smaller than supply, the selling pressure is higher than the buying pressure, the price will fall.
If we do not understand the purpose of coin use, it is difficult to determine where the demand for coin comes from, and if this source of demand is not identified, then a news release, We do not know how it will affect the price of coin we are holding.
That means almost as we are holding a coin that it increases, it does not know why it is rising, and it also does not know why it is falling.
As such, the investment style is like hugging a rabbit or gaping its mouth to wait.The sketchy whitepaper
I remember not long ago, during a Vietnam Blockchain Week event held in Saigon.
A speaker asked more than 1,000 people in the audience:
Which one of you have read the whitepaper of the projects you invested in raising your hands up and tell me loudly !
The results are amazing, as I remember, only 5-6 arms raised.
This is also one of the most interesting paradoxes when investing in crypto. Although the whitepaper is the most informative document on the project, most people do not read it.
When referring to a whitepaper, there are two things to clarify:
First, the project must provide specific and detailed information as possible.
This will help the investor better understand the project and make it easier to make investment decisions.
Moreover, I think that we are the money for investment, so the desire to understand the project is the desire to be justified and reasonable.
In contrast, reading and understanding of the project is an act that shows that we are more responsible for our investment.
If we do not read the whitepaper and invest in losses, the first mistake is because we have not studied it thoroughly, and not by anyone else.
A sketchy, unadvisable, low-quality whitepaper is a testament to the attitude of the team to the project they are trying to call for.
How can they do great things even if their whitepaper is superficial?
Do you feel right?
— — — — — — — — — — — — — — — — — — — — ——
WEBSITE
🔸 https://kriptoa.com/
TELEGRAM
🔸 https://t.me/KriptoA_com
FACEBOOK
🔸 https://www.facebook.com/KriptoA
INSTAGRAM
🔸 https://www.instagram.com/kriptoa_com
TWITTER
🔸 https://twitter.com/KriptoA_com
REDDIT
🔸 https://www.reddit.com/user/KriptoA_com
MEDIUM
🔸 https://medium.com/@KriptoA
