How to identify a Crypto scam?

How to identify a Crypto scam?

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December 24, 2020 by Ranjbar Webmaster
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Today, fraud has become one of the problems of people in the business. Scammers are also prevalent in the cryptocurrency market. In this article written about "How to identify a Crypto scam?", we want to know how to identify these fraudsters? First, we will deal with the concept of a crypto scam. Projects based on Crypto is called a crypto project.
How to identify a Crypto scam

Currencies, or in other words, tokens introduced to the market by this project, have become a kind of cryptocurrency. Finally, if this project we are talking about is a scam, we are talking about a crypto scam. Detecting these scams is not as simple as typical scams. Technical and essential parameters should be considered for these projects. In this article, we will address some of these issues. So, stay with us until the end of ” How to identify a Crypto scam?” to avoid the trap of fraudsters.

Check the business

To answer the question of How to identify a Crypto scam?, we refer to the parameters that are examined by the Antidolos media to determine the validity of a project. At first, Antidolos media starts its work by examining different parameters about the business of various projects. The first thing to consider about a company is the idea of creating the economic activity of that project. Antidolos first examines whether the concept which is behind this project is practical and feasible or not? Then, by reviewing the legal information and the project’s location, proceeds to validate the project.

One of the points that Antidolos deals with professionally is the discussion of legal information. Every company that sells its tokens has claims to have a presence in the business market. For example, it introduces a place as the location of the company. They probably claim that the company is legally registered. Antidolos examines this information in the first step. The media is searching to see if there is a legal problem in the process of their work? It also reviews their organizational charts. But why? If the company has made a false claim about its physical presence, it is almost evident that it is not right to trust it. But if we find flaws in our details, the story is different. Adherence to organizational and ceremonial principles ensures that all guides are observed in the company. Dear Antidolos companions, stay with us because we will address a more sensitive position in the next paragraph of “How to identify a Crypto scam?” ‘s article.

But it is not over yet. The documentation that the company provides for its activities can give us excellent information about their validity. These documents are called “white paper” in the field of cryptocurrencies. Antidolos examines these white papers with great sensitivity. Besides, by verifying the roadmap provided by the project, it proves its practicality. For example, if a company claims that it will build some houses on Mars for a year, Antidolos will give them a negative score for rating them because the idea behind their business is impractical.

What is the mission of a credible media to identify fraudsters?

Keep in mind that a specialized media such as Antidolos will not express its personal opinion to answer the question of ” How to identify a Crypto scam?”. A reputable media puts all its effort and expertise into responding correctly to the validation of a project with predefined algorithms that we trust. Of course, in the meantime, user feedback should be respected. A reputable media that is responsible for the validation of crypto projects has to pay special attention to user feedback. Of course, a user may submit a personal opinion that does not correspond to reality among users. A credible media should be able to identify these comments and neutralize them in the final rating. Also pay special attention to constructive criticism and revelations made by users, if it is true.

Check the IT structure

Suppose we want to talk about other parameters that Antidolos examines to answer the question ” How to identify a Crypto scam?”. In that case, we can refer to the IT structure of crypto projects. In this section, first, various parameters for reviewing and validating the project are examined. For example, information related to technical issues on the official project website will be reviewed. But what is this information? For instance, we can mention the IP, domain, and so on. Besides, Antidolos examines other parameters related to the various social networks of the project. But what do we mean by different parameters related to social networks? To answer this question, several examples can be given. For example, the Telegram channels and the mentioned collection’s Instagram page will be examined by Antidolos experts. With the help of the experience and expertise it has gained in this field. This media can detect what percentage of users of different social networks are fake. In this way, it is possible to understand how much that team is trying to justify itself. Suppose attempts are made by fake users on various social networks to prove their legitimacy. In that case, it could very well call into question the credibility of the project.

Check technical structure

A valid project has the characteristics of a coherent technical structure. Economically, a credible project must have the right economic backing. For this reason, Antidolos is usually trying to obtain accurate information about the financial system behind the project. By expert examination of this topic, this reliable media tries to find out whether the project can be economically viable or not? One of the parameters that can be mentioned is checking the type of tokens and the status of ICOs and IEOs in the projects. Also, reviewing the tokens sold and the remaining tokens can give us interesting information about the project’s acceptability. So to answer the “How to identify a Crypto scam?” question, we can technically examine the economic structure of the project. But keep in mind that this should be done by experts in this field with unique algorithms that we trust their efficiency. Usually, an expert’s personal opinions can not be a reliable answer to an economic project’s credibility and efficiency, predominantly if the project operates in the field of cryptocurrencies. So it is better to be careful and not to trust the websites that validate with straightforward algorithms and bloggers who express their personal opinion. A credible media always has reliable and accurate support for what it publishes.

Examining the leadership of the crypto projects

Whether a project is presented in the field of cryptocurrencies or not, to be successful, it must have good leaders and managers. Suppose a leader or manager is not able to steer the project in the right direction. In that case, that project will undoubtedly fail miserably. So before entering into any work, it is better to get acquainted with project management. One of our tasks is to review the resumes and capabilities of project managers in scoring projects. Keep in mind that this can be very important, regardless of whether it is a scam project or not. Even if a project has no intention of cheating, stupid managers can do a lot of damage to the shareholders of those projects. If you buy the tokens generated by that project, the projects will probably never be profitable for you. But the question about fraud is whether the members who are introduced as the head of the project management team have an external presence or not? We will discuss this further in the next paragraph. So do not miss this article and accompany us to the end of the article we wrote for you about “How to identify a Crypto scam?”. Antidolos Media thanks you for taking the time to read this.

Check out the team behind the crypto projects

As we explained, the project management team members can play a crucial role in achieving the final goal of a project. But people who seek fraud and make money illegally in the field of cryptocurrencies have a common trick. They introduce people as members of their steering team who do not exist externally. The Antidolos team works hard to identify the project management team members so that if it is proven that these members do not exist externally, one can almost be sure that the project is a scam. But as we have explained many times in this article, a parameter alone can not be an excellent answer to a project’s credibility.

As you know, the team behind the digital currency giant, or Bitcoin, is still unknown. No one can claim that this coin has little credibility in the cryptocurrency market. So, as we have mentioned many times, the validation of a project must be done according to specific algorithms. Examining one or more simple parameters can not give us a definite result about a project’s validity. Antidolos Media is one of the most reputable media in this field. The press has always strived for proper accreditation of projects. We will learn more about this media and the differences between Antidolos and its competitors in the next part. So, if you do not want to fall into the trap of scammers, we suggest you get acquainted with the Antidolos media. Stay with us until the end of what is written about “How to identify a Crypto scam?”.

Antidolos

If we want to tell you about Antidolos, we have to refer to a media’s attributes in the word’s real sense. Unlike some of its competitors, Antidolos has no financial transactions with any of the projects. Unfortunately, some media competitors do not observe justice in scoring those projects by selling premium accounts. According to Antidolos’s ideology, this is a kind of betrayal of users’ trust. Also, the Antidolos media, while respecting the opinions of users in the project rating system, does not include unfair criticism in the accreditation system. As mentioned, the characteristics of a full-fledged media can be compared to the attributes of Antidolos. It should also be noted that Antidolos does its best to save its users from the trap set for them by fraudsters. Hence the help of the most advanced algorithms and experienced specialists in this field. As a result, Antidolos can be considered one of the most reputable media in crypto projects. In conclusion, our answer to this article’s central question or ” How to identify a Crypto scam?” is that before participating in projects, be sure to take a look at the Antidolos website. You will probably get useful and reliable information from this website.

1 Comment

  • Amelia Quill

    Hey Antidolos ICO IEO rating and review. Do you need any partnership? A Cryptocurrency lecturer, Business woman, and a nerd Bitcoin trader

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