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

[Mayorla]

Of course, there is an increase number in fake cryptocurrencies because People are more involved in cryptocurrency now than ever. We have witnessed a lot of rug pulls. It is very important to carry out proper research before investing.

 

[Ononivami]

Of course, there is an increase number in fake cryptocurrencies because People are more involved in cryptocurrency now than ever. We have witnessed a lot of rug pulls. It is very important to carry out proper research before investing.

Last year was when we had the greatest rug pulling in cryptocurrency because so many projects emanated and the you are able to amass huge number of people and a lot of funds were carted away.

 

[Mayorla]

Last year was when we had the greatest rug pulling in cryptocurrency because so many projects emanated and the you are able to amass huge number of people and a lot of funds were carted away.

Yes, that is true. There was a lot of rug pulling that happened in the crypto space last year. I think the cause of those rug pulls is because most people are looking for quick profit, so they were played.

 

[Yohanna]

We understand that there are so many fake cryptocurrency in the crypto market and it is totally uncalled for because these are the projects that will scam the people and ripped them off their hard earned money.

 

[Riberet19]

I think today we have almost 23000 coins if I remember correctly what I saw the other day in coinmarketcap, this is really too many and knowing that many of them are scams, this can damage the credibility of the ecosystem, I think there are many that are really incesesary.

 

[Lynaia]

You just have to be careful because there are so many fake crypto coins and there are also so many fake cryptocurrency projects. That's the reason it's good to do a thorough research on any crypto coin you want to adopt

 

[Ernestnari]

When a cryptocurrency is touted and there is no information about it's technology and the team behind it, it is surely a scam cryptocurrency. And when they promise you guaranteed return, it is obviously a scam.

 

[Yohanna]

It is expected that they will be fake cryptocurrencies because it's a an industry that is growing very quickly and the scammers would want to use the opportunity to penetrate it.