How to avoid scam on Mint Club

Example story

You, as a good member of the community, explore new tokens on Mint Club to find something interesting. You just saw someone was promoting a new token in the Mint Club telegram group, and you want to invest in it. Entering the token page... the price graph seems cool! You decide to invest half of your MINT token holdings in this smart token. Now you have some of these, waiting for the price to pump... You check the price every hour, it keeps growing... But at some moment when you were almost ready to sell your investment, price dumped! What happened?

The answer is that token creator is a regular scammer who tries to gain profits on people who buy his sh*t-coin.

But how can you know, if the token is good or not?

I'll explain it in this article.

Introduction

You should understand that anyone can create their token on Mint Club and anything can be a lie.

Most important thing is to DO YOUR OWN RESEARCH and decide if the token is good or not. Never trust random promoting messages from Telegram groups, Twitter, etc.

You MUST be aware of the scam, especially in crypto.

How to avoid scam

The first thing is a token rating

Rating

When you search for a token on Mint Club, you will see its rating close to the token name.

Rating is a number in the range 0-10.
Good rating: 8-10
Normal rating: 5-7
Bad rating: 0-4

If you see that token has a bad rating, you better avoid buying it.

The token can also don't have any rating. It is also not a good sign and you should be more careful.

If the token has a good rating, you should move to the next step.

Description

Enter the token page. There you will see description, announcements, links to the website, and chat.
Let's move through them all one by one.

Look at the description of the token.
It can be full of info, describing what is the project about and what is the purpose of the token, or it can be 2-3 lines of text where the creator asks you to purchase the token.

If the description doesn't explain the purpose of the token, DO NOT BUY it!

Here are a few examples of good descriptions:

These were the GOOD descriptions for token.

Now look at the BAD examples:

Scam-token creators often promise big profits and easy money to people. If you see that somebody asking you to purchase a token without a visible reason for it, DO NOT BUY it!

Announcements

Announcements are also an important thing on Mint Club.

The token creator can announce something from his project there and many people will see it.

The good token should have several good announcements which are full of info and doesn't just promote the token like "go buy it"

Let's have a look at good examples of announcements for tokens:

These were the GOOD announcements for token.

Now look at the BAD example:

If token have good announcements and you like how the project grows, go to the next step!

Website & chat

On the token page, you can see links to the website & chat of token.

The token does not have to have a website, but if it does, it is worth taking a look at the design and content. If the website is well done and contains useful information about the project, that is a good sign.

Now let's check token Chat / Channel.

If it is a channel, there should be much news about the project.

If it is a chat, you should check how active the community of the project is.

There can be hundreds of members in the group, but only a few of them will be talking: THIS IS A BAD SIGN

If the community is active in chat, it means that the token has strong support from the community.

Final decision

If the token was good on all steps from this article, it should be a really good token and there is a low chance that it's a scam.

But you don't have any guarantee! Always DO YOUR OWN RESEARCH!

You can check transaction history, look if the creator did the "buy-promote-sell" thing (when a scammer creates a token, purchase some of it for a cheap price, then promotes it very hard in different groups, and when people pump its price, the creator sell all his holdings to gain profit)

Be careful and you don't need to blindly follow everything that is written on the internet.