How To Find Cryptocurrency Scams Before Investing?

Hi Whaleshareans, I'm going to provide information about finding Cryptocurrency Scams as they are popping out all over internet. A wrong Decision in Investment and you can lose all your money. But Cryptocurrency Scams have a similar pattern to attract Investors and with correct Knowledge, you can easily find out about them. Below are the Traits with which you can find a Cryptocurrency Scam:

Heavy Marketing and Promotional Offers

Cryptocurrency Fraudsters will use heavy money on marketing through Paid Blogging, Full page Ads in Websites, Multi level Airdrops etc which are meant to reach as many as people as possible in shortest amount of money to raise money fast. Compared to this, a Legitimate Cryptocurrency will not waste money on Marketing.

Members Of Team

The second thing to look will be the Team Members of the Cryptocurrency. Are they experienced in their respective field? Check out their Social Media Pages to find out about them. How many followers they have? When was the account created? Do they really exist or they are just Vague figures with Vague Names?
This takes a lot of time but make sure to check every Member's Background.

Check The Whitepaper

Next check their Whitepaper, in this they will have mentioned above their Project Design, how they will grow, how will they make money etc. After reading the Whitepaper, if you don't clearly understand the Stratergy of the Project. Don't Put Your Money In That Project

Promises Of Guaranteed Returns

Beware of Schemes with Guaranteed Returns on Daily/Weekly Basis as they are definitely fraud. Their payments in the beginning will be legit but afterwards payments will be slow or completely stopped without any notice.

Also beware of Pump and Dump Groups in Discord and Telegram as they will not bring you a single penny.

Disclaimer: I am not a financial advisor and this content in this article is not a financial or investment advice. It is for informative purposes only, or simply to make you think, entertain, increase testosterone and adrenaline level. Consult your advisers before making any decision.