Post
Topic
Board Altcoin Discussion
Re: What makes a crypto project reliable and trustworthy ?
by
Thomas Kralow
on 31/01/2023, 02:46:05 UTC
The most simple thing to know if the project are reliable and trustworthy is depends on the protocol, it must be decentralized and able to trade without centralized exchange.

Decentralized make your coin can't get frozen, controlled and manipulated since you don't have to trust anyone including the CEO. It will be different if the coin is centralized, you must trust the CEO and hope he wouldn't rug pull his own project.

Government always tightening their rules and it's need KYC to trade in centralized exchange, the worst thing is the exchange can freeze your account and confiscate your funds. If you trade on decentralized exchange or non custodial P2P platform, your coin will be 100% safe.

But you need to know 99% coins are centralized, only 1% or less are 100% decentralized.
A project with a decentralized protocol is truly not controlled by others. You have complete autonomy, but the project party does not know where to go, and the tokens of this agreement are meaningless. There is no value left. It is the most reliable if you want Satoshi Nakamoto to create Bitcoin. There is only one reason, everyone's consensus is indestructible.