A “scam coin” or “scam token” is a fraudulent project designed to make money quickly by the development team. There is an ever-growing list of low-quality scam coin-type projects. It is critically important to do as much research before investing in a new cryptocurrency or NFT crypto art project. To avoid being the victim of a scam coin, closely research the NFT project and its founding team. You can also check the NFT project’s discord, telegram, email list, website, Github, and the LinkedIn profiles of the projects developers.
NFT Term
Scam Coins
Definition of Scam Coins from the NFTguild.com glossary.
