The crypto world is full of opportunities… but also traps. With so many people looking for easy money, many scammers disguised as 'promising projects' have emerged.
Here are 5 key signs to identify a crypto scam before it's too late:
1. Promises of quick and safe money.
If someone tells you that 'you will double your money in 24 hours' or that 'there is no risk', be suspicious. In crypto, as in life, no one gives anything away.
2. Anonymous or non-existent teams.
A good project usually has a transparent team, with names, photos, and visible experience. If you don't know who's behind it, that's a bad sign.
3. Pressure to invest now.
'Last chance', 'only a few minutes left', 'only for today'… These are typical phrases of scams. In crypto, FOMO (fear of missing out) is used to trap you.
4. There is no whitepaper or it’s just smoke.
The whitepaper is like the business plan of a project. If it doesn't exist, or if it's very vague and doesn't explain anything, be careful.
5. It's not listed on reliable sites.
Before putting in money, check if the token is listed on major exchanges.
Remember: in the crypto world, it's better to doubt than to regret. If something sounds too good to be true… it probably is.