Bloor Group
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Bloor Group

Which crypto should I buy? How do you spot a crypto scam? (Explain Like I’m 5)

Dumb blonde?

I’ve been hearing about crypto exchanges. Are they just like the stock exchange?

How are they different, Cryptoman?

Yes, Apple, and Microsoft?

Through Etrade.

So can I just sign up and trade my crypto?

So some exchanges don’t trade all of the crypto currencies?

So how many cryptocurrencies are there?

Are some of them are scams?

How can you tell if a coin is a scam?

What else should I look for?

What are Whales?

For what?

How do you know this?

I thought you were all-knowing.

So what mistakes have you made?

  • Look on LinkedIn to find out who the executives are and whether they have a track record.
  • Check the telegram channel and get involved in conversations.
  • Go to Reddit.com and see what’s being said about the coin.
  • Look at the price record to see if there are any signs of frequent pump and dump activity.

What was your biggest mistake — aside from being dragged under by a whale?

Do your crypto mistakes make you smart?

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Robin Bloor

is a technology analyts with a 30 year pedigree. He is also a frequent blogger, a published author and an advisor for Permission.io,