How to research crypto altcoins to avoid scams

[Austinaldo]

Alt coins are layer1 and layer2 cryptocurrency that are not Bitcoin. Alt coins are mostly trending now because they seek to build utility and use cases into the crypto industry. Seeing that there are thousands of crypto coins coming out everyday here are a list of research work to do when thinking of investing in any of them:

1. Search online. Simply type the name of the coin and include the word "scam". The results will show if there are cases of scams associated with the crypto.

2. Search on apps like discord and telegram: these two apps are like the hub of crypto projects where you can search and try to connect to the developers of the project. Approach them and ask them very critical questions. Evaluate their response and make your investment decisions from there.

3. Search for the basic utility of every coin: things like market cap of a coin, utility, total supply, etc should be checked on coinmarketcap to determine how safe any coin is before investing.

There you have it. Do you have any questions? Feel free to ask or add some of the things you feel you have done in the past months to enhance your crypto investment.
Thank you.

 

[Suba]

Thanks for sharing, I agree with your opinion, that we should be careful in buying new coins and tokens, there are many scams out there that only aim to raise money for personal purposes, so to prevent us from getting caught up in scams, rugpull etc., we also need to check the developer of the coin or token by visiting their whitepaper, we will know about the destination of the coin and its journey. we need to also pay attention to the sale of coins/tokens, which are mostly bought by their family, team and friends,

 

[sincerem]

At the moment, I am involved in crypto influencing, I am currently involved in a crypto project called 'Robeecoin. It is still under development, which will soon come Live sooner. The coin will operate as a dollar dominated crypto coin for buying and selling products online and offline too with time. It will be based mainly on football business, which the owner is concentrating at the moment, building a marketplace to advertise talented footballers and uploading their data to the marketplace for scouts, and professional football coaches who are registered members in the marketplace to spot them and pick them up from junior level. The marketplace is tagged 'Impros.io, it is undergoing development at the moment. The coin owner has already signed up an amateur football club in Nigeria, via a sponsorship agreement, which is it's number one use case at the moment. Showing that, he is in to run crypto business and not in to hide under the fringes and running a scam coin. I've spoken with him severally, and the project he is working on got enough potential to excel. That's how to spot a project that will lit up in the future, I made my researches to get a convincing facts about the coin project.