How to Spot a Shitcoin - 8 Tips for Spotting ICO Scam/Fraud - Crypto Investing Tips
January 15, 2018
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7:58Now PlayingHow to Spot a Shitcoin - 8 Tips for Spotting ICO Scam/Fraud - Crypto Investing Tips
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as posted by the channelPlease note that there are exceptions to every one of these rules. Also these rules aren't in any order. Also most of these rules are for long term holds, it's possible to make money on nearly anything in the short term if you buy and sell at the right time.
Does it solve a real world problem? - What problem are they trying to solve? How can it be used in the real world, does the solution make sense?
Guarantees success or that you will make money - The team promises things they can't keep. If a team says that you're guaranteed to make money- all in all, that is simply false. It's impossible to guarantee anything- especially in this market.
Anonymous Team - If the team is anonymous, and it is a normal project. There is no reason for any team to be private if they're doing a regular project unless they want to hide something. Team members should have LinkedIn profiles as well. Who is the founder or CEO?
Where is the Whitepaper/product - No whitepaper or working product: An idea may be great, it may be revolutionary, but with no whitepaper or working product or patent at the least it's useless.
Unrealistic Roadmap Timeline - With time, comes change: If a project has a road map multiple years out, it is very possible that by the time they reach that point, the product is already produced elsewhere.
No Social Presence - Stay away from projects that aren't on social media: If a project wants to be the next big thing and doesn't even bother to have a social media page, then stay far away. Also, if they have social profiles, are they updating and engaging with followers.
Website Sucks - Website is poorly design, has grammar and spelling errors. This is a red flag! Also, is there is plagiarism! Example, Tron!
No Partnerships or Endorsements - Why hasn’t anyone said anything good about the product or its potential. Why haven’t they partnered with anyone?
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Disclaimer - Thinking Crypto and Tony Edward are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This channel and its videos are just for educational purposes and NOT investment or financial advice.
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