Red flags of crypto
There are a number of red flags in crypto which should help you determine which crypto to avoid. Here are some red flags that could help keep you or others safe when choosing a crypto to invest in:
- It is using a popular crypto's name while not actually being associated with it.
- Celebrities/influencers that have no connection/knowledge of crypto are advertising it.
- It's copying the name of a previous meme-coin.
- It doesn't have a whitepaper
- It doesn't have a social media page, If it does, is it very small/unprofessional.
- No website/website lacks information on the crypto.
- The entire premise of the coin is to be a money maker. (invest to moon)
- "It has huge, vague claims like decentralizing the internet."
- "No real present (or future) application made clear, even if it's a new area/proposal."
- "If it sounds too good to be true, it probably is." Added by
- "You only make money or 'bounties' when you get friends to invest, or you get a percentage of whatever they invest."
- "If it says things like:
- Liquidity locked 🔒✅
- 50% burned in Vitalilks wallet
- Easy 100x 🔥
- "If it uses the phrases:
- The next “…”
- “…” killer
- Missed out on “…”? This is the next “…” "
Breaking out!! soon to 1000x