As of now there are 1500+ cryptocurrency exists in the world.
Many dead many rising and many has to come.
So how can i know the currency ,where i am putting my money is not a part of scam?
Or is there any other way so we can check about respected crypto might be it'll work?
You definitely have to do your own research as no one is better to protect your money otherwise than yourself.
One of the few key factors that you can spot a scam is by looking at
- the dev team. Scam projects may not show any faces of the team at all. Or even if they do, they will not give any more links to verify the picture in the website is the real team. Check out if the dev team do also post on their respective social platform about their involvement in the project.
- look out for over promising project. if an ico tell you that you can earn 100% within 3 months, turn away and walk off. If they can do it, they wont even need you. They can do it themselves and within 2 years, they can already became the richest man in the world. 3 months x2, 2 years = x256, so just gather a million or so, and you will have close to a billion in 2 years.
- look out for grammar mistakes, it is not 100% true but a lot of scammer has shown that they do not put in the effort so there will be a lot of grammar mistakes in the website, whitepaper etc.
- read through the whitepaper, gather all your thoughts and doubts, challenge these questions to the dev team in telegram or email. If the dev never reply, just dont bother and if they reply but they cant answer your questions well, you also can consider to strike off this project.