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Author Topic: can you recommend any red flags when buying cryptocurrency?  (Read 70 times)
ac-crypto
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January 01, 2018, 03:10:33 AM
 #1

Are there any particular things that you consider red flags when buying cryptocurrency?  There are a lot of cryptocurrency out there with more being introduced every day.  I'm pretty new to cryptocurrency so I'm looking for input from others as far as red flags that I should avoid or other things that I should be careful about.
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January 01, 2018, 03:39:06 AM
 #2

First, you should post this post in the encrypted currency section. You're in the wrong place
Second, you should know the characteristics of each token yourself and choose to buy it.

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January 01, 2018, 09:55:03 AM
 #3

Are there any particular things that you consider red flags when buying cryptocurrency?  There are a lot of cryptocurrency out there with more being introduced every day.  I'm pretty new to cryptocurrency so I'm looking for input from others as far as red flags that I should avoid or other things that I should be careful about.

you must follow chart only and read more about coin source.
it is hard so that only holding first top 5 coins and invest over it

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January 01, 2018, 09:57:44 AM
 #4

the encrypted currency section.



Saying that you don't trust someone because of their behavior is completely valid.
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July 06, 2018, 09:39:35 PM
 #5

I would make sure that the platform you're buying/selling on is also secure. A lot of platforms have faced security issues as of late, so obviously I wouldn't buy/sell on those.

One platform I would recommend is HBUS, which is not only extremely safe but also user-friendly and overall extremely robust. https://www.hbus.com/
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July 06, 2018, 11:19:33 PM
 #6

The most important flag for me is panic! When people start to panic, then you need to buy)
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July 07, 2018, 12:58:14 AM
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 #7

Red Flags

  • It is not Bitcoin
  • It is a fork of Bitcoin  
  • Do not have a github with the open code  
  • It is only traded on small exchanges  
  • It is centralized  
  • Small group control vote power that could freeze your account  
  • It is only a ERC20 token  
  • It claims that people could mine using their mobile phones  
  • Pay people for shill  
  • Do not have any public face or anyone that have a reputation supporting  
  • Say that they make free transactions  


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July 07, 2018, 01:18:24 AM
 #8

If you are a beginner in the world of cryptocurrency that you avoid in my opinion is panic sell and you also need to be careful when the price bubble occurs.

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July 07, 2018, 01:31:27 AM
 #9

Are there any particular things that you consider red flags when buying cryptocurrency?  There are a lot of cryptocurrency out there with more being introduced every day.  I'm pretty new to cryptocurrency so I'm looking for input from others as far as red flags that I should avoid or other things that I should be careful about.

One of the sign are fake accounts on their team profile, and absent of whitepaper on Ico, be sure to, buy coins that are already in the market and in the process or already have a platform and doing a great job marketing their coin, these are three of the most important sign.

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July 07, 2018, 04:23:26 AM
 #10

For me, these are some things that I consider as red flags:

  • Overpromising. The whitepaper is trying to illustrate something that I know isn't technically possible or rewarding to the market.
  • Team members trying to hype the project by having the "most" people in the telegram.
  • Most important, the token metrics allow seed or pre-sale to gain x10 or no lock. That's the worst because early investors for sure will dump on listing. E.g. Perlin. I expect listing day, their friends/families will dump at first light with their super gains.
  • Inactive team members. Communication with public is almost non-existent. No idea what they're working on.
  • Milestones unable to achieved and delayed for months. E.g. Look at Keep. They're supposed to launch in Feb but till now no news. That's more than three months of delay. Says a lot about the team capabilities.
  • Projects who reserve a lot of tokens for themselves and sold less amount in the market. Without much circulation, if demand goes up, indeed the price skyrockets. But it only benefits the team and bear in mind it's a decentralised idea, you'll need more participants. If there's so little token circulation, how will project function well?
  • Greedy projects who plan on raising a lot of funds for "just another similar idea". E.g. Bankera asked for $215,900,000 and thereafter raised 70% of it. Note: if you try their products, it's nowhere near fascinating. That's why such greedy projects are red flagged.
Hope it helps.

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July 07, 2018, 07:31:21 AM
 #11

Are there any particular things that you consider red flags when buying cryptocurrency?  There are a lot of cryptocurrency out there with more being introduced every day.  I'm pretty new to cryptocurrency so I'm looking for input from others as far as red flags that I should avoid or other things that I should be careful about.
1)If you are not good at , my suggestion is not try to do that before you have got it .
2)You can use some other low-price or free coin to test and train yourself .
3)You can get some free coins by some airdrop or bpuntries .

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July 07, 2018, 11:13:52 AM
 #12

If bitcoin or ethereum starts to actively decline the price, I always sell 10-20 percent of my balance, in order to then buy it at low prices

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July 07, 2018, 01:31:58 PM
 #13

Always sell Bitcoin and ETH when it's on the increasing, don't be so greedy and you won't regret about it in the future when it drops.
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July 07, 2018, 04:00:37 PM
 #14

Red Flags

  • It is not Bitcoin
  • It is a fork of Bitcoin  
  • Do not have a github with the open code  
  • It is only traded on small exchanges  
  • It is centralized  
  • Small group control vote power that could freeze your account  
  • It is only a ERC20 token  
  • It claims that people could mine using their mobile phones  
  • Pay people for shill  
  • Do not have any public face or anyone that have a reputation supporting  
  • Say that they make free transactions  

All of them are true, but there have been lots of ICOs with public faces but came scam now. I think any coin except bitcoin has some degree of red flag when investing

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July 07, 2018, 08:55:56 PM
 #15

Are there any particular things that you consider red flags when buying cryptocurrency?  There are a lot of cryptocurrency out there with more being introduced every day.  I'm pretty new to cryptocurrency so I'm looking for input from others as far as red flags that I should avoid or other things that I should be careful about.

Its a bit subjective, a lot of the opinions people will give also relates to how much risk they are willing to take. Red flags are common sense really. You should really know the ins- and outs of if you want to make responsible choices which also boils down to experience and knowledge of investing. There are so many red flags it would be hard to list them all so just use common sense and always ask why, if some whitepaper looks like a brochure with fancy marketing language then ignore that project and be aware of any ICOs that are flashing with industry names (like Roger Ver) these companies only do that to get your attention and your money and often those situations don't work out well. The example I give you now also illustrates how subjective it is and that it boils down to experience. Try to become familiar with the space first, maybe look up past scams and analyze them for their red flags so you can learn from the mistakes of others.

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