About 80% of crypto startups turn out to be a scam. Digital coins and tokens promise a lot: high profits, passive income, or even completely new economic systems. In a wildly unregulated market, any project can declare its ambitious goals and make bold claims about its possibilities.
How to avoid fraud?
Investors should take several steps to check the project. The first step is to view the startup’s social networks and communication channels. Do they look good? Is it understandable, or is it a couple of words with poor grammar?
Make sure the team is transparent about the personality of its members.
Do you understand what’s written on the white paper? Is it a clear idea, or is it just a mixture of fancy words?
Does the project offer huge rewards by encouraging you to attract other buyers? Such a project is probably a pyramidal scheme.
Locklet aims to protect you from fraud and allows the projects to prove their trustworthiness. In addition, teams can lock in their tokens and prove commitment to their community.
It’s possible to secure your private sales over several months; make sure that none of your big investors jeopardizes your project.
Locklet is the world’s first decentralized vesting (locking) platform 🔐. It allows any crypto-currency holder to create more or less complex vesting clauses according to their need and have them executed over the desired duration and this is accomplished in a completely decentralized way.
Thanks to our platform, serious projects can now cryptographically differentiate themselves from scammy ones!
For more information on Locklet: