I want to trade a certain Asset, is it legitimate?
Last updated
Last updated
Assets/tokens are issued on the Bitcoin blockchain directly. This means that anyone with access to the internet is able to create and trade tokens freely without restrictions. There is no way to block Bitcoin addresses and transactions, which means that there is also no way to limit any Counterparty activity. We recommend significant due diligence and research before trading.
Freewallet does not filter any assets. Please check the official website of whatever asset/token you are planning to trade, and make sure to verify that it is legitimate.
In some cases, tokens from verified projects will have a green banner showing “This is an official card in the [Project Name] project.”
The above example shows the process of verifying that this token has a Locked Supply
That the Total Supply is the number you expect it to be
It is the EXACT Asset Name you are looking to trade
That you are seeing a Green Banner on xchain linking to the project you can verify includes this asset.
While this is useful to verify that specific asset you are viewing is a part of the project you know it to be in, make sure to verify all aspects (token name, issuance, holders, token supply etc.) to make sure you are absolutely sure this is the token you intend to trade.
It has been attempted to fraudulently display this banner as part of the Digital Image Section of the description. It is not intended as a “fix all” solution to individual due diligence when trading an asset.
For more help in recognizing fraudulent Counterparty assets, please read more here.
