Detecting Crypto Scams

Every year we see the emergence of new digital currencies. With them comes an array of ICOs.

The admiration towards cryptocurrencies has grown among the investors witnessing the growing importance of this digital money as a payment mode by many big companies.

However, they must be very careful in knowing that the crypto world is not at all completely secured.

There are incidents of scams that lead to big losses for those who bet on fraudulent ICOs and tokens.

I won’t say to run from it but should know to detect those scams.

There is no point in burning your money when it gets into the wrong hands.

So why not take a precautionary measure by noticing the foul play via different angles.

How To Protect Yourself From Scams

If you don’t want to become a victim of scams, then follow these things

Know The Team

Researching on members of the team is the safest and smartest way to protect yourself from the clutches of scams.

If there are no available facts on the developer then no need to invest in any foul project.

Scanning Whitepaper

A whitepaper is an important aspect of the crypto world. It displays all the essential details of the project.

But if you notice spelling mistakes or no clarity on the concept, then it hints towards a fraudulent intention of a firm via its flashy website.

Explore about cryptopia unconfirmed on Cryptoknowmics.