Post
Topic
Board Altcoin Discussion
Re: How can we avoid scams in blockchain?
by
bilal_jan321
on 11/11/2021, 14:05:20 UTC
So we have a crypto project that tests whether the other crypto projects are trusted or not?

Thats funny. How I am supposed to check if the CheckDot is trusted or not? Well I would just start studying the project, have some reviews from the hunters here, get involved with their social networks, most probably would be active in the Telegram and after that I may just get some idea whether they are honest peeps with good success ahead or not.

Thats how you do it for all of the crypto projects old or new one. There is no way to secure your predictions way before timeline. For example, it would be idiotic to believe on the project which just got launched with some white paper, poor social network, too shiny roadmap etc. Even the most serious looking projects have failed for some reason or another in the past.

Main thing is that there is no way one can certain that ICO is legitimate or not. Some have lost money by investing in scams while many missed the real projects on fear of getting scammed. To me it all boils down to your research and luck. There is no proven software (like the one OP referring CheckDot)  that can tell the legitimization of the project.


Quote
So be sure to keep yourself updated with what you invest and act fast according to the time. Depends you wanna buy more or sell etc.

Real time to invest in project is before it get listed on any exchange, you can get the real juice out of the coin if you invest before that. Once on exchange the margin of profit goes down alot.