The blockchain is actively being integrated into nearly every area of activity due to the dynamic development of technologies.
Crypto investments on decentralized platforms are becoming more and more popular. Let us figure out how to avoid becoming a scam victim while safely and, more importantly, effectively investing in a certain project.
Main Features of a Reliable Platform
Despite the decentralized management, a Blockchain platform, just like any other service, should provide free access to licenses, patents and other documents proving the legality of the company’s actions. This way, each user can check their authenticity and make a decision on whether to work with this platform or not. The more information developers provide, the higher the likelihood of protecting investors from scams.
Another indicator of a good crypto project, which is equally important, is the White Paper — a document on the website of the platform. A responsible investor should definitely study the White Paper. This is where all the platform operation nuances, rules and terms of interaction with customers are described in great detail. If the document turns out to be uninformative or incomprehensible, then, most likely, the creators of the project are trying to deceive potential investors. A lot of promises, quick profit, best projects, and no specifics — these are the indicators of a platform that could end up being a scam.
Since the crypto industry is developing exponentially, fraudsters have become just as savvy as developers. If, only a few years ago, hacking into a crypto wallet was considered impossible, now less-protected services face this issue quite frequently. That is why creators of a certain Blockchain platform have to protect their clients. As of right now, the most reliable protection from fraud is two-factor authentication. Its operation lies in the following: in order to log into a private account or wallet, users have to enter a one-time password that the resource is requesting. They receive the password in a mail or text message to the e-mail address or phone number, which the account is linked to.
The Bitbon System, a large-scale infrastructure project, combines all the advantages of a reliable Blockchain platform. Its distinctive features allow users to invest in a unique way. Projects that are available on the platform go through examination and are checked for profitability, security and sustainability. All the experts, auditors, lawyers, analysts, and other specialists are also Bitbon System participants and are interested in the success of each project because their own profit depends on it. Thus, the chance to lose your own investments is eliminated along with scams. Investors, in turn, do not need to study all the nuances of a certain startup because specialists have already done it for them.