Blockchain Explorer | How To Determine If A Cryptocurrency Is Real


The Blockchain Explorer. This is the de facto
way to determine if a coin that you are looking at is actually a real cryptocurrency. Caleb
Wright here with What Is A Cryptocurrency dot com. And today I have decided to shoot
a little video to help all of you out there who are researching the cryptocurrency industry,
and to give you a tip that will keep you safe with how that you use your money when you
decide to put it into a cryptocurrency coin. Make sure that your coin, or the coin that
you are looking at and considering getting involved with is actually a real cryptocurrency
that has a blockchain behind it. Because there are actually a bunch of companies out there
who are promoting coins that they are actually distributing completely in house, which is
illegal with the Securities and Exchanges Commission. And they seem to completely miss
the point that a cryptocurrency is not just a digital currency, it’s not just a digital
unit. It has to have a blockchain technology behind it. Which is a public ledger which
is accessible via the internet, by the public, hence the ‘public ledger’ name. And you can
basically have access to all of the wallets and all the transactions that have happened
within the blockchain of that cryptocurrency. So basically if a digital currency does not
have a blockchain, it is not a cryptocurrency and you want to stay very far away from putting
money into it until they actually get a cryptocurrency blockchain behind it and get it onto the publicly
traded exchanges. So there is a website here that you can visit, it’s called http://chainz.cryptoid.info
that’s c h a i n z dot c r y p t o i d dot info. And this website gives you access to
the blockchain explorer of all the cryptocurrencies that are legit that are out there. As you
can see we have a few of the popular coins right here at the top of the list. Litecoin
and Capricoin and Rubycoin for example. And so you can also filter the list using this
search bar up here, you can type in a specific coin that you are looking for, so you don’t
have to browse through this very long list of coins. Okay, then you can quickly determine
if the coin you are looking at is real. Now to show you how you can navigate through this,
and like I was telling you before how you can see any wallet that is in the blockchain
and the transactions that have been made with these wallets. All you have to do is click
on the coin. So I’m going to click Capricoin right here. And then it will show you the
most recent blocks that have been developed in the blockchain. Blocks are developed when
transactions happen. And so it also has some other information up here as well, but just
for the sake of digging into the info, I’m going to click into the most recent block
by clicking that number. And it will show you here the transaction, the transaction
was a transfer of Capricoin from this wallet, yes this string of letters and numbers is
actually a wallet address that transferred one thousand and eighteen Capricoins to this
wallet. And if you want to look further into this information, you can even click the wallet
and then it will show you every single transaction that wallet has been involved in okay. And
so this is how you determine if your cryptocurrency is a real functioning cryptocurrency. Because
if doesn’t have a blockchain behind it then you can onto the internet on a blockchain
explorer like this, https://chainz.cryptoid.info and your not working with a real cryptocurrency,
you stand a very large chance to lose your money because there is no guarantee that it
is going to make it onto an exchange. There is no guarantee that the company is not going
to get shut down, before they can get their cryptocurrency legal. So they haven’t done
their homework if that is the case, alright? So bookmark this site https://chainz.cryptoid.info
and use this before you make any decisions to put money into a cryptocurrency. And I
hope that you found this info useful today, and please use rest of our articles on this
site for more great information and education on the cryptocurrency industry. And please
share this video with your network using the social sharing buttons either on this blog
post or underneath the video on YouTube. Please like the video and leave a comment with your
feedback, I would really appreciate that! And you can also use a link right underneath
this video. I’m going to actually put the link to this blockchain explorer site right
in the video description. I’m also going to put a link to more information, with a FREE
REPORT about the Top Reasons Why You Would Want To Get Involved In Cryptocurrency in
2016. So enjoy the information, Caleb Wright here signing off for What Is A Cryptocurrency
dot com, and I’m looking forward to seeing you on the next one. Bye now.

4 thoughts on “Blockchain Explorer | How To Determine If A Cryptocurrency Is Real”

  1. Thanks alot dude I nearly got scammed.Through your video I just found out that pipcion does not exist. I was just about to put in money into it.thanks a lot.

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