BITCOIN REVOLUTION: SIDE-STEPPING POTENTIAL SCAMS

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BITCOIN REVOLUTION SIDE- STEPPING POTENTIAL
SCAMS
Theres an ongoing explosion of interest in
Bitcoin, and thats not going away anytime soon.
Cryptocurrency projects raise money through
ICOs. While two-thirds of all ICOs are genuine,
its the reminder that worries the everyday
investor per a credible estimate. One-third of
all ICOs being fraudulent is a massive strain on
the investor pool. Furthermore, the insidious
ways fake crypto projects infiltrate even
genuine websites, leaving positive reviews and
creating a following, gives fake news a whole
new meaning. Fake cryptocurrencies do real wash
out genuine ones. The fairest course of action
would be to be aware of measures that ensure the
crypto under examination is real. Are there
Bitcoin Revolution scams? These days theres no
detailed set of guidelines or policy statements
regarding cryptos and derivatives from public
agencies. The investor must follow her common
sense. Trail by elimination is the only way
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to know if their burgeoning crypto ios is a scam.
And one must not get too excited over cryptos.
Income possibilities are not unrealistically
fantastic, even with cryptos. You ought to fight
shy of the urge to have very high passive
income, mainly courtesy of cryptocurrencies and
their derivatives. Sketchy coins, dubious tokens,
and fraudulent ICOs A plethora of new
cryptocurrencies launch each month, and
alongside these new tokens and coins comes a
series of initial coin offerings, or ICOs. The
hunger among a broad pool of investors for these
opportunities has grown, even though
cryptocurrencies were drubbed in 2018. All of
these factors join together to entice scammers.
After all, if investors have plainly evidenced
that they are willing to throw money toward a
highly speculative cryptocurrency, they seem to
be equally likely to invest in fraudulent tokens
or ICOs. The prospect can be daunting for the
cryptocurrency investor looking to make the most
of the host of new investment opportunities
while remaining safe from fraudulent ICOs and
sketchy coins and tokens. Get to Know the
Team Perhaps the most important success factor
for any ICO or cryptocurrency is the developers
and administrative team behind the project. The
cryptocurrency space is dominated by prominent
names, with superstar developers like Ethereum
founder Vitalik Buterin capable of making or
breaking new projects simply by having their
names listed on a development team.
Unfortunately, therefore, its increasingly the
norm for scammers to dream up fake founders and
biographies for their projects.
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• The best protection against this dishonest tactic
  is to thoroughly research the individual team
  members before you invest.
• Beyond resolving whether the development team is
  real, its important to make an effort to see if
  their qualifications measure up. For example, do
  the founders have the experience they claim to
  possess? Is it relevant to the current project?
• Peruse the Whitepaper
• A cryptocurrency or ICO whitepaper is the basic
  document for that project. The whitepaper ought
  to lay out
• strategy,
• the background, goals,
• concerns, and
• timeline for any blockchain-related project
  implementation
• . Whitepapers can divulge a great deal
  companies that have a flashy website may reveal
  they are going without a fundamentally sound
  concept. Conversely, a website containing
  spelling errors may have a whitepaper indicating
  a rock-solid concept and a well- conceived
  implementation plan.
• The first step toward a whitepaper analysis is to
  read it very thoroughly. Then, check to see if
  the whitepaper has complementary resources,
  including financial models, legal concerns, SWOT
  analysis, and a roadmap for implementation.
• A whitepaper ought to reply to all of the
  questions a potential investor might have about
  what sets this particular project apart from its
  competitors, how it aims to be successful, and
  the measures it will take to gain its goals.

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Scrutinise the Token Sale Any ICO will be
contingent upon a token or currency system in
order to facilitate the crowdfunding process.
Legitimate companies and endeavours make the
system itself and token sales progress easy for
potential investors to view. Carefully observe
the token sale figures as the ICO is ongoing.
Better still, watch the token sale over time to
jot down how it is progressing. If a company
makes it impossible for anyone to chart the
progress of its ICO, this is a major red
flag. How transparent Is the Project? Companies
that have outstanding concepts and models will be
more likely than others to seek to be as
transparent as possible with the broader
community. Watch out for companies that intend to
keep potential investors up to date with
thorough, fairly frequent progress reports on a
company website or on social media. Its
instructive to look if a company is motivated
enough to have a timeline for what has taken
place in the development process. Be
cautious Even the most successful ICOs and
cryptocurrencies are severely criticised for
being propelled by speculative investing. The
thought of getting rich quick on investment is
tempting enough to attract seasoned investors
and beginners into risky areas. Keep an eye for
caution as you examine new investment
opportunities in the ICO and cryptocurrency
spaces. Be aware that projects sounding too good
to be true most likely are. Spend time
scrutinising every detail, and assume that the
absence of a piece of crucial information may be
an attempt to obfuscate hide an unsound model
or concept. Look up outside sources to verify any
projects legitimacy before investing. Continue
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