How to Know Coin Scam or Legit – Before buying or owning cryptocurrency, there are many things that must be considered so that the cryptocurrency you choose does not make a loss. Until now, there are lots of cryptocurrencies that you can find, not many are scams and make its users, including the coin investors, lose money.
To avoid the loss of a coin. So there are several aspects that you must pay attention to to be used as an assessment material, whether the coin is good or not. Here we collect several ways to easily find scam or legit coins.
6 Easy Ways to Know Coin Scam or Legit
One aspect that you can use to judge whether a project or company is good or not is to look at the team they have. Usually a company that has a clear and reliable team will develop very well.
You can also do this, if you want to assess whether a coin is good to own and make an investment. Usually most coins that have developed and run well will list all their team profiles on the official page of the coin.
On the team’s profile page you can see who participated in the development of the coin and whether their profile is really good or reliable in terms of expertise and teamwork. To see more information from the coin team, you can check it through their social media, such as LinkedIn and others.
Roadmap or Future Plans
Every company that comes from various fields must have careful planning and goals about where the company will develop. This can be one aspect that can judge whether the coin is good or not.
Most of the coins that are already available, will provide information on their Roadmap, plans and targets for the public or investors to see. Usually it is very easy to access on the official website of the coin.
Some Roadmaps also present the time or schedule they use to carry out or complete these plans, goals and targets.
Whitepaper is a document that contains explanations and problems to be worked on in a project or company in detail. Usually in a Whitepaper will contain an explanation of project details, creation, relationships with users and much more.
A professional looking whitepaper can be a good value for a coin. A good whitepaper can be judged by the detailed information provided and the most important thing is that the information is easy to understand by users, including investors for the coin.
Public whitepapers are provided on a website and are formatted in pdf format which can be accessed publicly by anyone.
A cryptocurrency or coin usually has a community that supports the development of the coin. The larger the community of a coin, it means that the coin is good or has quality.
There are many types of communities that you can find, whether it’s offline or online. Usually the online coin community will be very easy to find in a forum that specifically discusses cryptocurrencies.
In addition, you can also see the size of the coin community from the number of group members they have on social media, such as Facebook, Telegram and others.
Also Read: How To Get Free Bitcoin
A cryptocurrency or coin company usually has different marketing techniques. Usually a good marketing technique will explain the coin in detail and the advantages of the coin.
However, you should also be wary of coins that use marketing techniques just to make a profit and promote without explaining what they are doing and how to target the coin.
Websites and Platforms
Website has become one of the media commonly used to promote a company/business/coin. A professional coin or cryptocurrency can be judged from their website.
There are many aspects that can be assessed from a cryptocurrency website, for example, does the website provide detailed information about the coin?, is the website easy to use and much more.
Those are some ways or tips that you can do to find out whether the coin or cryptocurrency is good or a scam. In addition to the things above, there are many other things that you can pay attention to when assessing a cryptocurrency or coin, but what has been described above can be used as a good guideline.