There are thousands of coins, tokens, and blockchain projects online today, but we all know not all of them have a great reputation, to begin with, and a lot of them have been proven to be outright scams. As an everyday person, it is close to impossible pinpointing what project to invest in, which is credible, and what project will run with your money never to hear from the founders. To help you make an educated decision, here are ways to spot a credible crypto project, using the CFX platform as a case study
Every credible crypto project as a clear, concise, and definite vision of what it is, what problems are in its sight, and what technology it hopes to use to solve those intractable problems. A lot of scam crypto projects just want to sell you coins or tokens for selling sake. They don’t have a vision of where things are, and where they aim to be in the future with the help of their project. CFX stands itself apart along with great projects like Ethereum, Bitcoin, and a few others. It has a specific industry that it hopes to reinvent and it has the tech and know-how before embracing blockchain. CFX ticks this box as its vision is crystal-clear.
- FORMIDABLE TEAM
You are only as good as your team, they say. This is absolutely true when it comes to picking the right crypto project to stake your hard-earned money on. Scam crypto projects often go with the bravado of having ‘anonymous” creators, hoping that the mystery will angle in a lot of blind investors. Others have obscure figures with no track record anywhere as its founders, again hoping the lack of public knowledge of who the team is will be filled in by guesses of investors. With CFX, you have a visionary team of business leaders and tech geniuses with decades of track record that is publicly available. With a parent company located in the United Kingdom, CFX is a project that takes investors’ trust seriously and has credible people with long careers that will not jeopardize their investors’ money any day.
- CLEAR ROADMAP
A project, crypto or not, must have a clear roadmap on what it needs to do at what time in order to achieve its goal. Most shady crypto projects have nothing tangible to say in terms of what milestones they intend to achieve at given time periods and that alone should raise the alarm bells for you. Not only does a project needs a clear roadmap, but you should also beware of projects that promise unattainable goals. CFX has already spent years creating some of the investing world’s best trading algos. It has a solid background, it has the new cutting-edge pre-quantum chip from Fujitsu, and a clear map and attainable milestones to boot.
- BURNING TOKENS
Is the project you are trying to invest in going to sell you 1 trillion tokens? RED FLAG. A credible crypto project doesn’t want to sell the maximum number of tokens without a cap and with no plan of burning tokens to offer investors shared profits. CFX has definite plans for this in its roadmap making it a prime example of what the ideal crypto project to invest in looks like. To participate in its IEO, head on to LA Token Exchange today and buy your CFXQ Tokens.