How to Tell if a Coin is Real or Fake: Friends, you have heard about many cryptocurrency frauds. Every day new projects are launched in the market and most of them cheat people and loot money.
We should keep ourself safe from such kind of scam investment projects. There is safety in wisdom. Otherwise you may lose your valuable time and money as well.
So, the question arise, How to Tell if a Coin is Real or Fake for new investment. Actually, we should invest in early stage for higher returns. So, I am telling you to identify the coin reality.
How to Tell if a Coin is Real or Fake
You should keep focus on the following points to check the reality of coin.
- Who is behind the crypto project?
- Is project has WhitePaper
- Website Security
- Support System
Let’s see everything in detail:
1. Who is behind the crypto project?
If you want to test the veracity of any cryptocurrency project, first of all see who is launching this project. Search the person on Google and get their details on social media profiles such as Twitter and LinkedIn.
If everything seems fine to you then you can invest money in that crypto project. If you do not find the details of some particular person on Google or any other social media profile.
You understand that a big deception is going to happen to you. Your chances of losing your money are more than 90%.
2. Is project has WhitePaper
When a new cryptocurrency project comes in the market, a white paper is also released along with it. In this, a lot of detail about the project is given and along with the roadmap of the project is also given.
All the information you need about that new cryptocurrency is found in the White Paper. When a person asks you to invest in any cryptocurrency, first of all see the white paper of that cryptocurrency.
If everything goes well in the white paper, then do not even bother investing in this cryptocurrency.
3. Website Security
The websites of all the real cryptocurrencies are completely secure. You will get an HTTPS certificate installed on all secure websites.
When some people think of scamming in the market, they do not put HTTPS certificate on their website. It is clear from this that this website is fraud and you should not invest money in it.
Along with this, you should also check their other social media profiles and also check Google app, even here if you see any mistake. Then do not invest money in that project.
4. Support System
When a project is launched in the market for some purpose, the support system is most active there. The same thing happens in the field of cryptocurrency. Before investing in any project, you should talk to their support system.
You can get information about the system, get information about the product and get information about their service. If you have a little doubt here, then you should not invest money in the project of that company, otherwise you may have to suffer heavy losses.
So these were some of the best ways you can find out if the cryptocurrency project you want to invest in is a good fit.