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If You Can’t Withdraw Your Crypto, Stay Away

Scott CunninghamMay 17, 2020, 8:38:47 AM

I’ve made many videos not recommending multiple platforms in the past for many different reasons and have many red flags that I look for when reviewing platforms for my comprehensive review. Given many people from those platforms are naturally upset, I’d like to revisit my red flags list.

The biggest and most obvious red flag to look for is whether or not you can withdraw your cryptocurrency from the platform you are using. We will dive into all of them, but this is the easiest indicator. Some people have criticized this saying things like “you haven’t researched enough” or “don’t judge a platform off one thing” or “you have to give them more time” which I get, but there are already more than 10 viable major blockchain or crypto-monetized platforms that don’t have these issues so the question is why risk it? Some might respond to that and say “just have faith” or “it’s the best platform so just wait” but if it was really the best, wouldn’t it have solved these issues?

These are the red flags that I look for in a blockchain social platform to determine whether I would recommend it to others:

• Too niche

• Lacking media functionality

• Mainly messenger-based

• Too much resistance when joining or using the platform

• Not working / lacking users / no engagement

• Invite only

• Requires a download

• Requires spending crypto to interact

• Non-English

• Requires excessive verification / verification doesn’t work properly

• EOS & Tron dapps that don’t work

• Fake or valueless blockchain or crypto

• Not free to use

• Unable to withdraw your funds

In the video, I will dive into each and explain my reasoning for including them. The platforms that I use today are LBRY, Publish0x, DTube, 3Speak, Bitchute, Flote, Cos.TV, Memo.cash, Read.Cash, Minds, Vibravid, and Uptrennd.

What do you look for in a blockchain social platform or better yet, what do you hope not to find on a platform? What do you think of the red flag identifiers I use? Am I missing any and or do you disagree with any of my choices and why? Feel free to comment your thoughts below also please like and subscribe if you enjoyed it.