Too many fake, or junk cryptocurrencies starting as of late?

[Setfragil]

This is why as investors online we should always be careful in the projects we invest in because a lot of these ones were made for only pump and dump and you might lose a lot of money.

Pump and dump is what mist of three whale investors does. They will promote a coin to rise massively, once they make their profits, they will withdraw their money immediately.

 

[Niftyyem]

Until there is some sort of regulation in place, we are likely to see more and more coins launched into the markets. Some are good projects while a large percentage are just scams.

 

[Man]

Yes, this is one area where a lot of regulation is required Currently without any regulation every rich and famous person is starting a new cryptocurrency. Like there are rules and regulation for opening a insurance company, in similar way, there should be rules and regulations for opening a new cryptocurrency.

 

[Skysaint]

I could testify to that as I can't even stay up to a month without having to hear my friends mention a crypto coin that am entirely newly to. I think a regulation should be made on how these coins just pop up from nowhere.

 

[Suba]

Because crypto has no regulation so anyone can create new crypto, especially tokens created on top of other crypto blockchains. therefore investors should be careful in choosing crypto and tokens even though they have been listed on exchanges and coinmarketcap.

 

[gammarays]

There are many scam crypto currency that are available now. There are some coin that we just see that we have it without no knowing how we got it. But with the when we try to withdraw or transfer to another person. We will see that it will not be able to be sent.

The lack ofregulation in the crypto sphere is what causes this. You see every Harry print tokens. Some do it just to vet money from presale. Others remove liquidity immediately the country is launched.

 

[Setfragil]

That is the reason why I research about any coin that I want to invest with my money so as to avoid losing it to a pump and dump cryptocurrency in the market.

 

[jeff87]

That's why I'm making use of Binance exchange. It will really be hard to see Binance exchange site listing fake Cryptocurrency.

I also make use of binance exchange platform. I am pretty sure that binance will not list on their exchange platform a fake or junk cryptocurrency. I believe that binance is not easily listing any fake cryptocurrency.

 

[Yusuf]

A lot of fake crypto currency are out there now and I think Investors really need to be smart to know the kind of crypto currency they invest their money into right now. Lots of them are shit coin and scam

 

[GIFTMICHAEL]

I also make use of binance exchange platform. I am pretty sure that binance will not list on their exchange platform a fake or junk cryptocurrency. I believe that binance is not easily listing any fake cryptocurrency.

Binance exchange knows such kind of coins which are fake gonna dent their long time progress cos it will make customers doubting them. That's why everything you see at Binance exchange is legit.

 

[Josemendez]

It is indeed something that is painting cryptocurrency black as people are being scammed day in day out . However some people are the reason why they are scammed.

 

[Kingstone]

I only trust coins that I am paid with because I don't invest in crypto. I would rather trade than buy some coins.

 

[Josemendez]

I only trust coins that I am paid with because I don't invest in crypto. I would rather trade than buy some coins.

Well , it is all about choices. Many people have made a lot of money from cryptocurrency that has changed their life and most of them have been able to create passive earning for themselves.

 

[McIrx]

This is inevitable as some people will sit down to create a way of scamming gullible and/or unsuspecting people. Every business is a potential breeding ground for scammers. It's up to those involved to operate with caution.

 

[Chibson]

Definitely there are a lot of them and they will be creating fake white paper in order to deceive gullible people. I always make an offer said before I invest in any cryptocurrency.

 

[Senator]

These are actually alled poocoins. They tend to pump very fast and quickly to deceive unsuspecting investors to think it is a coin worth investing into. Only to pull off the rugg off this unsuspecting investors foot the moment they buy imonsuch nonsense coins

 

[tuna89]

Do make sure to study the cryptos well before investing into them, cryptos seem to have various functions, some would last while some won't. That's why you need to be careful when choosing an airdrop, most of them are fakes.

 

[joy101]

It is really good as a investors before investing you have to do proper research to know the fake cryptocurrency so that you will not involved yourself into.

 

[eLdavis]

It is really good as a investors before investing you have to do proper research to know the fake cryptocurrency so that you will not involved yourself into.

Well said, because once you have invested your capital, I don't think it would be possible to get your money back, so proper investigations must be made before putting in capital.

 

[Shigobad2020]

One has just to be wise. Some new coins invented tends to put smile on the face of investors and some do not. Since there's no regulations against that, you just have to think twice before investing.

There are many too many fake crypto currency coin out there and new coin are still emerging over and over again, that's why its better and adviseable to do a better research before investing.