We know that cryptocurrencies are some of the most important and one of the most popular investment assets. They are used by many people so that they could make money and this is why tend to invest money in many such kind of cryptocurrency projects. Cryptocurrencies are used to cater the needs of people and they are produced for a purpose. However, despite all this, there are many cryptocurrency scam projects as well such as OneCoin. So, how do you identify such scam projects?
How Do You Avoid A Scam Cryptocurrency Project?
- Thread starter Passiveearner
- Start date
For me, any crypto that is not listed on major exchanges is proven to be scam till it gets listed. I won't even go near it. If it is not on Binance and coinhase exchange, I avoid it like a plague.
In the online space, there are so many scam projects out there. You need to be extremely careful before Making an investment. Make sure you have done all the necessary research on the investment you are about going into before doing it.
- Thread starter
- #7
Well, it might be possible for a well-known scam cryptocurrency to be listed on an exchange. However, the fact of the matter remains that this does not mean that such kind of cryptocurrency is legit to begin with. We must remember this.
No strategy can beat the importance of carrying out thorough research before venturing into any crypto investment project. A person also needs to be aware that scammers are adept at manipulating the internet space to ensure that they receive a critical mass of positive reviews.
- Thread starter
- #9
Rich people know when and where to invest and this is why they tend to be really smart and rich in the first place. The fact of the matter remains that they consider many things such as investing in the right kind of market before actually making an investment.
Investing in cryptocurrency projects it's not something you just go ahead and do as their steps when needs to follow and few things you need to consider as it has to do with making your own research before investing in any crypto projects in order not to be scammed or lose money.
I am not into crypto because I know very little about it. I heard that some people make a lot of money investing in crypto. I'm not sure if it's true or not. But I think the risk of investing in crypto is very high as its value fluctuates a lot.
