DeGrain Crypto is a recent introduction to the NFT industry, dubbed the first cross-chain NTF trading platform. It is also a subject of the “is DeGrain crypto a scam” debate. According to the original sources, the platform will allow users to trade and receive payments for NFTs across different networks.
As stated on the DGRN’s whitepaper, “Users will be able to trade and accept payments from a multitude of networks. Imagine listing your NFT on the Ethereum network and receiving the payment on up to 9 networks. Imagine seeing an NFT you really want to get your hands on, which is listed on the Ethereum network, and being able to purchase that NFT using BNB on the Binance Smart Chain.”
While the concept sounds advantageous, the practical application by actual users has yet to show results, which is why there is a lot of doubt circulating the matter.
In this piece, we’ll look into the legitimacy of this up-and-coming addition to the NFT marketplace—and the possibility of a DeGrain Crypto scam.
Crypto and NFTs Investments
Is DeGrain Crypto legit? Here’s the thing: blockchain currency is an example of unpredictable investment, where you never know if the odds are in or against your favor.
However, attention toward digital currency during the past 5 years, the increasing number of users and platforms, and proper authorities for monitoring and security have rendered the investment somehow safe and worthwhile. With famous figures in the financial industry, such as Elon Musk, supporting the blockchain marketplace, Crypto and NFTs have become popular forms of investment.
Popularity aside, you should always be wary of any investment opportunity, especially NFTs. Any investment decisions you make should come from a combination of one-on-one advice from a trusted source, market trends, experts’ predictions, and user feedback.
Investing in a platform such as DeGrain Crypto is an example of an intriguing prospect in a volatile market that has very little of any above-mention factors to consider for investment. It’s a new platform and not backed with honest reviews; hence the label “DeGrain Crypto scam” circulating the internet.
The Degrain Crypto (DGRN) Token Presale
The sale of the DGRN tokens in August 2022 was extensively marketed by DeGrain Crypto. The platform’s makers attempted to garner interest amongst the users of the NFT marketplace in hopes the inter-chain platform would transform the way NFTs are traded. Their leading competitor blockchains are Ethereum and Solana, each with millions of active users and daily climbing wallets.
While Degrain has indeed introduced something that can benefit buyers, sellers, and stockers of NFTs, the question remains: is DeGrain legit? We’re not sure if DGRN is on the same reliability scale (if not yet the strength) as Ethereum and Solana.
DeGrain Crypto’s Claims
During the token presale on August 3rd, DeGrain tweeted that the DGRN would increase from $0.06 to $0.07 at 09:00 universal time. The specific time of the alleged price hike and the fact that only DeGrain made such a claim raised suspicions of a DeGrain scam. Additionally, the tweet stated that nearly 10,000 people signed up for an account. Whether or not the immense popularity in such little time is true is not something that has been verified, especially with legit competitors present.
Since DeGrain’s claims come from either paid ads or the platform’s team itself, they don’t carry enough weight for you to put blind trust (and your money!) into their coin. Until impartial professional analyses of DeGrain Crypto’s claims and success come forward, any NFT industry user should keep researching before investing.
Can I Trust DeGrain Crypto?
There are many reasons NFT experts and even followers are talking about the DeGrain Crypto scam. First, crypto and NFT scams are on the rise. The cryptocurrency and NFT platforms are still relatively new forms of investment with a shaky history (such as a single tweet enabling the drop in a bitcoin value). Crypto and NFT scammers have successfully looted people of millions of dollars, and due to the non-tangible nature of the currency involved—recovery can be difficult.
Moreover, like DeGrain, many new crypto and NFT introductions and their claims of success come from the creators and not the users and experts.
By calling the platform “revolutionary” without any coverage by major critics or feedback from genuine users, there’s no surprise that the DGRN followers are finding their practice suspicious.
Is DeGrain A Scam – What Does Audit Show?
In addition to the above-mentioned issues contributing to the alleged DeGrain scam, Degrain Crypto has not had a complete audit. CertiK, a pioneer in blockchain security, is currently concluding an audit—which has been postponed repeatedly. According to some sources, the reason behind the delays in the audit may be the lack of cooperation between CertiK and DeGrain regarding some dicey findings during the initial audit stages.
Further Look Into The DeGrain Crypto Scam
In addition to issues with the CertiK audit, DGRN is also accused of removing user reviews that question its legitimacy and ask critical questions. One of the users, who was blocked by the DeGrain team from the Twitter account and removed from the telegram, said they got blocked for questioning their status.
Another matter is that none of the leading media outlets have covered DeGrain in depth. The present articles are simply reiterations of DeGrain’s original press release and convey the same message over and over. With the second phase of the platform’s presale currently underway, a thorough look into their first presale’s true success and their overall legitimacy are of utmost importance. Experts also encourage users to wait for CertiK’s official report on the platform’s audit, which can be tracked here.
Is DeGrain Scam Or Legit?
DGRN’s token price is currently on the rise, and the platform’s Twitter account informs the public that with phase one “sold out,” phase two is progressing in the same manner. Again, this is a claim by the team themselves, and many followers and blockchain experts find it “too good to be true.”
Getting an unbiased opinion on DGRM presales is nearly impossible, as is the case for many new emerging platforms in cryptocurrency and NFTs.
There is minimal information on DeGrain or any feedback contradicting the DeGrain Crypto Scam (most likely due to lack of any actual traction toward the coin) on popular blockchain news sources such as CoinGecko, CoinMarketGap, or TradingView. The only abundance of knowledge about the cross-chain platform is on DeGrain’s whitepaper, which includes details about token distribution, investment benefits, and intellectual property licensing.
If you want to invest in DGRM, your choice will be based on the platform’s own claims and your gut instinct. In such cases, the investment can be a risky one; always exercise caution, especially when making an investment in an early presale investment. DGRN’s second round of presales started at the beginning of October 2022 and is currently active.
Blockchain experts currently have a wait-and-see stance regarding DGRM’s claims and a possible DeGrain scam. They advise NFTs users to check for more information before investing their hard-earned money into the possible DeGrain scam.
Will or will not DeGrain gain impartial reviews and perform to the level of its competitors remains a mystery. Check back on Scammer News to find out is DeGrain crypto a scam or not. We provide our audience with information on new financial and technological introductions in the market to help them verify their value. We compile scam and complaint news from the world to help you make learned investments.