Such things as fake cryptocurrencies? If so, are they a problem?

[Grant]

Crytocurrencies are all over the place, and we continue to see new ones pop up. Some, if not most, are likely legit, but there are more likely fake or intended to be scammy in nature. But, with that being said, do you think that there are fake cryptocurrencies being put out? Maybe with the intention to scam.

Have you ever encountered any fake crypto? And if so, what was the sales pitch for it? Like what did they promise or offer?

 

[Skysaint]

I haven't really encountered a fake cryptocurrency and I guess it's those coin that are yet to be launched and don't have plans to get launched but to deceive others. It once they are launched, it's no more fake but probably shit coin.

 

[Imran_Noori]

There are many scam crypto currencies but when some corrections in market occur it causes the scam coins to die and I think some corrections are good for crypto industry.

 

[Abigael]

Personally, I have not encountered fake cryptocurrencies but I have read people talk about them. Some don't have a good project and so they fail even before they do anything much. So you always have to see the project behind cryptocurrencies before you trust them.

 

[Nomad]

You don't know whether the coin is fake or not until it is rug pulled. A lot of crypto projects have turned to be rug pull. Things like these will create a bad impact in the market and those who are thinking about investing will stop doing it.

 

[Sotherefore]

Crytocurrencies are all over the place, and we continue to see new ones pop up. Some, if not most, are likely legit, but there are more likely fake or intended to be scammy in nature. But, with that being said, do you think that there are fake cryptocurrencies being put out? Maybe with the intention to scam.

Have you ever encountered any fake crypto? And if so, what was the sales pitch for it? Like what did they promise or offer?

There are so many of them in existence and I have come across so many of them before.
Most cryptocurrency have been doing well initially but suddenly they change and turn into a Ponzi scheme in which thousands of people lost their investment.

It is one of the greatest challenge facing many investors In The crypto space.

 

[Danny4cash]

I have not come across fake cryptocurrency but it'll be hard to say there are not fake cryptocurrency. Anything that has original will definitely have fake. And considering how scammers are now finding their way to crypto market, there will be fake.

 

[Abigael]

I have not come across fake cryptocurrency but it'll be hard to say there are not fake cryptocurrency. Anything that has original will definitely have fake. And considering how scammers are now finding their way to crypto market, there will be fake.

That is right. Scammers always find a way to corrupt even good things like crypto. I am sure there have been so many fake cryptocurrencies created by scammers. People need to be really careful when investing in them.

 

[Sincerem]

Crytocurrencies are all over the place, and we continue to see new ones pop up. Some, if not most, are likely legit, but there are more likely fake or intended to be scammy in nature. But, with that being said, do you think that there are fake cryptocurrencies being put out? Maybe with the intention to scam.

Have you ever encountered any fake crypto? And if so, what was the sales pitch for it? Like what did they promise or offer?

Most of them the reason why they are coming out is just to scam.
Any cryptocurrency with the intention of not lasting long has another motives which will be very detrimental to investors.

 

[Yaqoob Habib]

Crytocurrencies are all over the place, and we continue to see new ones pop up. Some, if not most, are likely legit, but there are more likely fake or intended to be scammy in nature. But, with that being said, do you think that there are fake cryptocurrencies being put out? Maybe with the intention to scam.

Have you ever encountered any fake crypto? And if so, what was the sales pitch for it? Like what did they promise or offer?

Of course, nowadays there is a lot of trading in cryptocurrency, but there are some fake trader who are bringing people towards trading as illegal ways. Because many currencies have come in cryptocurrency, about which if you do not have knowledge, then do not invest in them or do any trading, due to which you will have to face loss.

 

[Skysaint]

Personally, I have not encountered fake cryptocurrencies but I have read people talk about them. Some don't have a good project and so they fail even before they do anything much. So you always have to see the project behind cryptocurrencies before you trust them.

You're right about this. I haven't fallen a victim to it as I haven't lost my money to them but the truth is that they are actually a problem and the market should find a way if fishing them out and deleting them.

 

[GoldenLady]

Most of the fake coins happen to be on decentralized exchanges, and you can also find out from the white paper and token allocation. There's also another strategy you can use to see if it's possible to sell the tokens you buy using the holders information

 

[Kennysplash]

I will not call them fake cryptocurrencies I will call them scam coins and there are many of them that have scammed innocent investors are run away with their money. You just have to be careful when you are seeking for coins to invest in.

 

[Jonaville]

Crytocurrencies are all over the place, and we continue to see new ones pop up. Some, if not most, are likely legit, but there are more likely fake or intended to be scammy in nature. But, with that being said, do you think that there are fake cryptocurrencies being put out? Maybe with the intention to scam.

Have you ever encountered any fake crypto? And if so, what was the sales pitch for it? Like what did they promise or offer?

I bought a fake cryptocurrency some time ago but I am glad that I did not buy it with a lot of money and that is why I use Binance because they will never list a fake cryptocurrency on their platform.

 

[Ononivami]

It is requisite to understand that it is important to gain experience on the fact that any industry that is growing will experience proliferation of fake deals and projects and cryptocurrency is not an exception.

 

[eenya00]

I have heard about a particular coin that is called flash Bitcoin, scammers usually use it, you see the Bitcoin in your wallet after sometime the coin completely varnishes from your wallet.

 

[Potuse]

I have heard about a particular coin that is called flash Bitcoin, scammers usually use it, you see the Bitcoin in your wallet after sometime the coin completely varnishes from your wallet.

There are different ways at which people are exploring to scam every individual . This is why it is very important to ensure that you are very careful of cryptocurrency transactions.

 

[Lens]

There are fake cryptocurrencies in the crypto market and it was why it is important to always ensure that you carry out proper research before investing in any cryptocurrency.

 

[Ononivami]

There are fake cryptocurrencies in the crypto market and it was why it is important to always ensure that you carry out proper research before investing in any cryptocurrency.

There are lot of fake cryptocurrencies in the crypto market. It is important to carry out due diligence on the crypto that you want to choose before venturing into it because most of them are scams.

 

[Yohanna]

There are numerous fake cryptocurrency projects and cryptocurrency that is coming out of such crypto project could be regarded as a fake coin because it will not last.