Bitcoin Forum

Is there any website or Organization where CryptoCurrenys register itself just to make sure that particular cryptocurrency is trustworthy? If no then I would love to get some tips that help me filter a real cryptocurrency and a fake one?

So far the answer is no since most of the project provides utility token only which doesn't cover by SEC. Most of the trust website like ICO review previously was purely a speculation and can be paid to increase the project reputation review. The only thing you need to check to verify the project is to background check the team itself and read the whitepaper completely.

But the easiest to do it was to buy only project that already proven. Like project that listed on big exchange with big trading volume and has a working product.

Can you please explain it with an example like should I go with Pi network?

Is this the Pi network you are pertaining? https://minepi.com/team

If that is, The detail about the team member is so minimal and also it has only 2 members listed on there website for a crypto project. It has no known exchange on coinmarketcap.com and it is unranked. Seems not an establish project.

That's the project that aims to do mobile mining. But AFAIK, it's been so long since there's no progress for that project.

Choose another project to invest your money and time instead of that project. There are other projects that are worthy of your time and money to invest.

CERTIK Blockchain security leaderboard (https://www.certik.org/) might be what you are looking for. They also have their own token. Their business is to verify and validate whether projects are trust worthy or not

A new project needs more time to be defined and evaluated. There are few tips such as looking for the developing team, participating in community chat or reading whitepaper. You can also ask member on bitcointalk for advices.

You should never go for it. PI network was a scam and there are bunch of scam accusations to this garbage coin that claimed had 21 million users in total.


There's no website or organization like that. You can ask what you wanna ask that to the community and i do believe we can help you a lot.

There are a lot of discussion about it, spreading through various forum threads. I suggest you search the forum with keywords like "scam ico", "how to filter scam project", etc. Keep in mind that not all of the filter works, for example, an anon project might not be a scam, while a project with a team can easily scam you through various ways.

As far as I can remember, dozens of projects audited by them still got hacked, aren't they? I don't really trust their audit.

Thank you very much. This forum already helping me a lot. The members of this community are trying to guide newbies like me in a great way. thank you all of you.

Mate, let me just give you a general idea not specific to PiNework or anything, there is no official or government led regulatory body for the cryptocurrency niche. What we have like SEC is non existent here.

You have to decide on your own whether something is worth putting your money into. Now let me make this clear, 99% of the projects that are pitched are failures from the start. They cannot generate any inherent market or bring anything new and useful to the table - most project are just bringing old concepts in new names and then going bankrupt. The investors get tokens for funding that project when end up with zero value, essentially a scam and one in which you have no power to go legal.

Now coming to specific details, it is better to keep your VC/Angel investor dreams to yourself if you want to keep your money safe. Invest in bitcoin at lower price but not in any shitcoin like this one. You will regret the second choice after a few years.

Few fundraising platforms have strict rules on new projects that plan to use their platform to raise funds, those kind of rules that can't make a project to rugpull or exit scam, do some research on polkadot's polkastarter

There is no authority or organization is controlling the crypto currencies that is why we call it as decentralized. You can find the legitimacy of a project but analyzing about the project team if you don't have knowledge regarding it then don't take any risks blindly. Just invest on cryptos like BTC,ETH and centralized BNB and few others which are reputed enough.

In the case of SEC, they are not a fully crypto regulatory system per say, their only involvement in any crypto related projects is when that project (s) is being described as security which must follow certain procedures before any project can be considered as such,
Crypto in general has no regulatory body to oversee the activities in the crypto space, if there will be in near future is unknown but for now, the space is free of regulations .

How can you regulate a decentralized market and anonymous community? if you don't wanna be scammed then never become greedy and filter everything about investment and never look for a promises
specially those big income related topics, most of them are scammers.