BITCOIN REVOLUTION SIDE-STEPPING POTENTIAL SCAMS
                     BITCOIN REVOLUTION: SIDE-  
STEPPING POTENTIAL SCAMS
There’s an ongoing explosion of interest in Bitcoin, and that’s not  
going away anytime soon. Cryptocurrency projects raise money  
through ICOs. While two-thirds of all ICOs are genuine, it’s the  
reminder that worries the everyday investor per a credible estimate. 
 One-third of all ICOs being fraudulent is a massive strain on the  
investor pool. Furthermore, the insidious ways fake crypto projects  
infiltrate even genuine websites, leaving positive reviews and  
creating a following, gives ‘fake news’ a whole new meaning. Fake  
cryptocurrencies do real wash out genuine ones. The fairest course 
of  action would be to be aware of measures that ensure the crypto 
 under examination is real. Are there Bitcoin Revolution scams? 
These  days there’s no detailed set of guidelines or policy 
statements  regarding cryptos and derivatives from public agencies. 
The investor  must follow her common sense. Trail by elimination is 
the only way
to know if their burgeoning crypto ios is a scam. And one must 
not  get too excited over cryptos. Income possibilities are not  
unrealistically fantastic, even with cryptos. You ought to fight shy 
of  the urge to have very high passive income, mainly courtesy of  
cryptocurrencies and their derivatives.
Sketchy coins, dubious tokens, and fraudulent ICOs
A plethora of new cryptocurrencies launch each month, and  
alongside these new tokens and coins comes a series of initial 
coin  offerings, or ICOs. The hunger among a broad pool of 
investors for  these opportunities has grown, even though 
cryptocurrencies were  drubbed in 2018. All of these factors join 
together to entice  scammers. After all, if investors have plainly 
evidenced that they are  willing to throw money toward a highly 
speculative cryptocurrency,  they seem to be equally likely to 
invest in fraudulent tokens or ICOs.  The prospect can be daunting 
for the cryptocurrency investor  looking to make the most of the 
host of new investment  opportunities while remaining safe from 
fraudulent ICOs and  sketchy coins and tokens.
Get to Know the Team
Perhaps the most important success factor for any ICO or  
cryptocurrency is the developers and administrative team 
behind  the project. The cryptocurrency space is dominated by 
prominent  names, with superstar developers like Ethereum 
founder Vitalik  Buterin capable of making or breaking new 
projects simply by  having their names listed on a development
team. Unfortunately, therefore, it’s increasingly the norm for  
scammers to dream up fake founders and biographies for 
their  projects.
The best protection against this dishonest tactic is to 
thoroughly  research the individual team members before you 
invest.
Beyond resolving whether the development team is real, it’s  
important to make an effort to see if their qualifications measure 
up.  For example, do the founders have the experience they claim 
to  possess? Is it relevant to the current project?
Peruse the Whitepaper
 A cryptocurrency or ICO whitepaper is the basic document 
for  that project. The whitepaper ought to lay out
 strategy,
 the background, goals,
 concerns, and
 timeline for any blockchain-related project implementation
. Whitepapers can divulge a great deal – companies that have a  
flashy website may reveal they are going without a fundamentally  
sound concept. Conversely, a website containing spelling errors 
may  have a whitepaper indicating a rock-solid concept and a 
well-  conceived implementation plan.
The first step toward a whitepaper analysis is to read it very  
thoroughly. Then, check to see if the whitepaper has 
complementary  resources, including financial models, legal 
concerns, SWOT analysis,  and a roadmap for implementation.
A whitepaper ought to reply to all of the questions a potential  
investor might have about what sets this particular project apart  
from its competitors, how it aims to be successful, and the 
measures  it will take to gain its goals.
Scrutinise the Token Sale
Any ICO will be contingent upon a token or currency system in 
order  to facilitate the crowdfunding process. Legitimate companies 
and  endeavours make the system itself and token sale’s progress 
easy for  potential investors to view. Carefully observe the token 
sale figures as  the ICO is ongoing. Better still, watch the token sale 
over time to jot  down how it is progressing. If a company makes it 
impossible for  anyone to chart the progress of its ICO, this is a 
major red flag.
How transparent Is the Project?
Companies that have outstanding concepts and models will be 
more  likely than others to seek to be as transparent as possible 
with the  broader community. Watch out for companies that 
intend to keep  potential investors up to date with thorough, fairly 
frequent progress  reports on a company website or on social 
media. It’s instructive to  look if a company is motivated enough to 
have a timeline for what  has taken place in the development 
process.
Be cautious
Even the most successful ICOs and cryptocurrencies are severely  
criticised for being propelled by speculative investing. The thought 
of  getting rich quick on investment is tempting enough to attract  
seasoned investors and beginners into risky areas. Keep an eye for  
caution as you examine new investment opportunities in the ICO  
and cryptocurrency spaces. Be aware that projects sounding too  
good to be true most likely are. Spend time scrutinising every 
detail,  and assume that the absence of a piece of crucial 
information may  be an attempt to obfuscate – hide an unsound 
model or concept.
Look up outside sources to verify any project’s legitimacy 
before  investing.
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