Cryptocurrency is full of scammy projects trying to siphon funds from non-savvy investors. Without technical knowledge and long-term exposure to cryptocurrency, it can be hard for newcomers to differentiate between scams and legitimate projects. Additionally, it can be hard to judge whether genuine projects are worth getting excited over.
This is intended as a simple guide to distinguish valuable projects from scams. It should also serve as a way to evaluate projects and help differentiate between
If the answer to any of the below questions is no, you are probably in dangerous territory.
- Does the project have a github?
- Is there code on the github?
- Does the project have developers?
- Does the project have a white paper?