NINE Red Flags for New Crypto Projects
The cryptocurrency space is still relatively unregulated, making it a breeding ground for scams. To protect yourself, be aware of these red flags:
1. Unrealistic promises: No legitimate project can guarantee high returns.
2. No clear product or service: Legitimate projects have a well-defined offering.
3. Lack of transparency: Legitimate projects are open about their team, finances, and roadmap.
4. No whitepaper or code repository: Legitimate projects have well-written documentation and public code.
5. High marketing costs: Legitimate projects focus on building a great product.
6. Pressure to buy now: Legitimate projects won't pressure you to buy.
7. Negative community sentiment: Legitimate projects have a strong and supportive community.
8. Unverifiable team: Legitimate projects have a team of experienced individuals.
9. Lack of liquidity: Legitimate projects have a token with high liquidity.
