How can we tell if it’s real or not?

Qudscoin
1 min readDec 13, 2022

Regardless of what is happening in the market right now, cryptocurrency is here to stay. For those who are perplexed by the entangled world of new jargon and complicated algorithms.

I have a very simple method to determine whether a cryptocurrency is legitimate or not. I am not predicting whether it will win or not; this depends on a variety of factors. In fact, for any type of cryptocurrency, this method should be the very first step in your due diligence process.
The project is the test’s keyword. Each cryptocurrency should stand for something real (though not necessarily physical). To put it another way, each cryptocurrency is a genuine project. Before devoting time to learning about the cryptocurrency’s technicalities and mechanics, it’s a good idea to understand what it stands for and what type of project it’s intended to support.

That’s why, before a token or cryptocurrency can be distributed to the public, it needs to have a whitepaper explaining its purpose in detail.

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