Bitcoin Forum

Hello everyone, I want to ask that investing in new projects has worth or not because to many scams projects now a days and i am afraid of losing money.
I wanna invest in quizbox.finance and this project looks really amazing and unique. what you guys think about this.
I need suggestions,

Website: https://quizbox.finance/

I don't see how the token ($QUIZ) can have any value. It'll be distributed as quest rewards, staking rewards, bounty, airdrop, etc. but no mention of how they will generate demand for the token. Unless there's some mechanic to create demand for the token and earning for the platform, it looks like another valueless cash-grab project.

Amazing and unique, these are some of the words I hear from the telegram groups where I got invited to check their project, these are the most used words in altcoin investing it may look promising but in the long run, these projects lose their steam because it lives on hype and the developers are not really that dedicated to sustaining their project, they already got the money so they left the project until it dies down.

My advice is to dig deep and compare to other similar projects that die down.

The description and your basis of those words are really quite confusing. From the website itself, Id rather stay away and has no fundamental use case for their project. One thing to look for when investing is their product or any worth at all and look on the bigger picture, does it have some useful or very unique utility on their end? Like dbshck said, its token will served as reward. Try to check whether they have some sort of usable feature that will create buyers when this goes to market and reason for them why they should buy this.

It's true, there have been many new projects that I have found wrapped in sweet words like the ones we hear today. Don't be hypnotized by words like that, because everyone can brag. I'm not going to say it's worth it or not, because investing in a new project isn't just about whether it's worth it or not. Because a very strong mentality is needed here, we need readiness when developers take our money away. Answering whether it is feasible or not, it comes back to us, are we ready for a higher risk, in the sense of losing money?

Risk will be everywhere in this type of investment, do you dare to take the risk that will be faced with you and of course the risk is losing your money. but the risk will befall you if you do not carefully choose the project. I think investing in new projects should be okay for you to do, but don't fully put your money there.

I've seen the whole whitepaper of this project, nothing special there, do you want to invest in a project that just dumps their tokens for free to people in EU (https://quiz-box-finance.gitbook.io/quiz.box/frequently-asked/which-countries-can-have-quizbox-services)? Instead of doing something like that, it's better for you to donate your money to a charity. Apart from that they will be doing their token sale on Pinksale, this platform is a platform that has been blacklisted by me for purchasing early tokens. It's enough, mate. Don't waste your time and your money investing in projects that have no potential.

Nice ideas when promoting some new coins project did by OP between asking about potential or not with new coins https://quizbox.finance/ or he tries to promote with this project here. I checked this coin still on pre sale and launchpad at Pinksale, there are depend on your hand looking for how interested or potential with this coins or not. But when joining with launchpad or presale coins on Pinksale need to check how rule adopt with pre sale, will the costumer earn 100% coins or need vesting few percent every month.

Second option is not worth because can't guarantee with this project keep exist for long term, if OP excited with this coin need get 100% launchpad coin on Pinksale without vesting yet.

I have never heard of that project before so i don't really know to much about it obviously but i just took a quick look at their website and i have to say, that i personally would definitely not invest into that project. First of all, as others already said, i don't really see where their tokens is needed or where the demand for the token would be created. That you get free tokens for doing the quiz is a fact that only will devaluate the token even more.

Also i see that their are listing Binance as their backers and i am 99% sure, that they are not really backed by Binance at all. Probably they are just using the BNB chain as their blockchain. So to say that Binance is a backer is a very shady move and that alone should be a big red flag to everyone.

Looks can be deceiving, infact the point of them having a website, white paper and all is for them to make themselves appear real to intending customers, most new projects employ capable hands to make up the project to seem profitable and even futuristic.


The truth is that when a projects white paper looks too real to be true make sure to even go further in your research, the chances of that project being a scam is high especially if it doesn’t have an concrete positive reviews.

You want to invest here, then do it if you really think this is something unique and you can still be there.
I think that's fine with that but when it comes to advice then I think you better stay away from it.
It's not a matter of not needing profit or hindering the intentions you have planned, but in this condition the result will be the same as some of the projects that have existed before. maybe for the hype and the initial increase it's still possible it's just that this won't last long I think.

How can you tell its an amazing project and a unique one? What’s your basis for this?
Anyway, investing on a new project for a beginner might not be ideal because of its risk and because of some projects are scam as well. If you want to be more safe then invest with Bitcoin first and invest with the top altcoins while you are still learning. New projects doesn’t mean a good investment, you have to choose wisely.

Don't get enticed by their promising look and words from the owner of any projects but tried to know deeper just to see the real thing about the project.
You are right, most of these new projects are scams and it is possible that #QUIZ is one of those projects. We are not sure this time but I was having a doubt about this project and felt the huge risk of investing in this.

I'd suggest you to better consider those projects that already have a working product just to assure that it was not a scam rather than spending some amount on something new that is prone to scams. Many AI projects had come out and so we must be careful when choosing them.

^This is not good, you should not ask for financial advice from anyone else, you must have your own research.
It is good to take a thoughtful and strategic approach when investing in new projects. Here are my personal factors that can give you an insight into investing new project, you can increase your chances of success and make informed decisions about where to put your money.
First, before investing in any project, it is important to determine your risk tolerance. If you are willing to take on higher risk for potentially higher returns, then you may be comfortable investing in newer or more experimental projects. However, if you prefer a more conservative approach, you may want to consider established projects that have a track record of success. Because for me, investing in a new project seem to like are gambling your money. I don't know quizbox but if it is new, you should be aware by now of what I suggested above.

it doesn't seem like coin that have real utilities and gonna have place whatsoever, I don't think investing in that coin will yield good results.
try finding projects that are supported by big investment firm and venture capital so that you can be sure you're investing in the right place, after all investing in random projects might get you losing your money.
apparently, there has been many projects that have unique concept but fail miserably because they're not that practical.

It's another scam project my friend. quizbox claimed to be backed by binance but i never heard that if binance even announcing it. It's another false claim that already made by scammer behind that project. Don't be fooled by stupid evelopers who have used binance's name to create false claim.

Binance was mostly backing the new project through binancelabs. That means if it's a fake claim. I have marked it as a scam project.

https://i.postimg.cc/fWmdKn4k/SEFSFGWET2.png

Look at that. How that scam project was also making another false claim. I have been browsing some apps named quizboxes and these apps have only 50 - 1000 times download.

1.3 millions monthly active users were just fake

Could you be more specific? What makes this project that amazing that you find yourself being tempted to invest in it when most people do not even know that such a project even existed?

Stop wasting your time with developers and their coins which make a lot of promises but at the end they scam you, after all you should know better as you are not really a newbie anymore and you have more than one year of experience on this market to still believe those altcoins have the potential they claim to have.

    -    Investing in a new projects will always depends on how you investigate or research it. If you know the right procedure and tools to find out if the project has a real potentials, I could say that you can able to choose the best investment here in cryptocurrency but if not your capital will be turn only in loss for sure in the end.

But if I were you must focus in learning for awhile here in this field of crypto space. And you must always be cautious in investing in a new projects too.

If you are hesitant to invest in a new project, you shouldn't try it because it requires in-depth research and a long time to find. You should find more info about the project you want.

I've never heard of the project and as I said, you should find out more about the project so you can make the right decision. And be careful with this because we don't know if the project will develop well or if it will become a scam in the future.

I suggest investing in big coins like bitcoin, ethereum or bnb. or, if you really believe in this project, you just need to invest in this project. however, based on what many people have suggested, there is nothing special about this project, and it is not recommended to invest. there are still many things that need to be corrected from the project. so, it would be better to invest in popular coins with large volumes.

This is also what I was thinking, I suspect that it is the OP who owns the project, and it seems like they are changing the form of advertising, and it is smart to ask about the potential of the project instead of advertising the project publicly. I have not checked the project as I think it is like previous scam projects also introduced by newbies on the forum. My view of such projects is that they are Ponzi schemes and scams, which will only last for a short while.

I have looked at the website and to be honest I am not sure about the tokens you will have invested.  I mean what value can I get from investing in that project.  Everything that was explained on the project was something uninteresting that would have made me invest a few dollars there.  Actually I was suspicious about the project but I can't judge it because I'm not good at investigation haha

Even in an old project, if we are hesitant or in doubt, it will be better to not do it. Investing is only best if we are confident. Researching helps us better to decide if we will consider the project or not but we must always prepare for any possibility if we pick a new project because some of them are only good at the beginning and at the middle but later on, they can fail.

We can apply the famous rule in finance which is to invest only the money that you can afford to lose. There are people whom I know who only treat new projects as a short term investment but I think they will only re invest on the project again if they think the project is stable and doesn't have a questionable future.

In order for you to earn choose the coin that has already a value and that has an active team behind the projects dont invest in new project specially during the bearish season there are so many project that is scam and we need to be careful in choosing, i only invest in coin that has a good team and transparent specially the team that already build a succesful project from the past and build a new one they have a good reputation.

Everything you do in this industry will always be the decisions of your like and regarding that matter of investing to a new project will always have a mindset and DYOR is the first comes to it before going at it. Always look for a good project that has great backers, team and what will be the project is all about. Web3 and AI is the trend today, so better give that look first.

I'm finding a way for the project to earn, so that the token will have value, but it seems like there isn't any.
Maybe the Code2Earn feature where you will outsource your codes to other clients. They might have a portion on the payment, but what if there isn't that clients? The token will have no value.

Monthly active users and the daily new users might seem attractive for those newbies since they might believe that there really are many who are using the project, but the truth is, anybody can just input any amount of users in their own website. I'm not saying that the project is a scam, but if it's me, I will not invest into this kind of project.

They are just alluring newbies to their Quiz2Earn feature where you can earn just by answering the question. There are some other ways there for the users to earn, but that isn't sustainable in the long run especially if the company doesn't have a way to earn from their project itself.

I think you need to be more vigilant and cautious.  This may not be the right time to invest in new projects - first, the trend is not really clear.  second, bitcoin is in the recovery cycle of the market, the competition is getting fiercer.  Third, it is possible to seize more opportunities to generate better ( bitcoin, ETH, BNB… ) returns instead of having to choose a new, higher-risk project.  There are too many fake projects every day and it is possible that we will have wrong judgment even if some people have a lot of experience.

Before investing in any new project an investor should know the project intensively. Especially the social media of that project should be well verified. It is also necessary to know whether the project has been audited by a third party or not. In bearish times, new projects do not get proper support from investors as per their goals. At the moment Bitcoin is showing a good potential. This is the time to be bullish. So if you research well and invest in good projects then there will be opportunities to profit from it. Since the number of scam projects are high, one should invest with caution.

I don't understand how good your project will be for the future. But if they can exchange with Binance exchange then it will be pretty much better. Also I think investing in new projects is very risky at present. Most of these projects are turning out to be scams. So don't waste time and money by investing in all these new projects. If you want to invest, you can definitely invest in good quality coins.

Those doubts should be a sign to not invest in that project, I remember that when I first read about bitcoin and how it worked I was marveled about how something so incredible could exist.

And while I cannot claim that I understood everything about bitcoin back in my newbie days, I immediately knew that bitcoin was an opportunity like no other I have ever seen, but if your first reaction towards a project is to have doubts about it then you know there is something wrong with it.

In my option there is no any limitations one can select any project whether it is new or old. We know very well about old one but we do not analyze about new projects as we did not take part in it and did not trade it. I think that old one is better and more successful than new project. If you want to invest in Quiz then surely you will have get the details about it. It totally up to your fortune and the project will then become successful for you. I does not put large money in any coin and I does not put money in new coin as I have not such large amount to be wasted as new project has no guarantee.

I won’t recommend you invest in any new project currently, now we are in bear market, most new projects will find it difficult to survive in the current market condition even if the project is a good one. I will recommend you invest in existing project, now that the market is down, you can get those coins at a cheaper price, you can just buy and wait for bull run, it will be better than you risking your money on new projects.

If you have no basis about researching a project then don't invest your money in a new project that you don't know about, we are not here to suggest it because in the future it will be fraud as well and don't look at the appearance of the website or anything else it doesn't mean they will be successful in trapping beginners to invest here.

I hope you stay away from obscure projects soon, now what is quite clear is investing in bitcoins not new projects.
Remember bitcoin has a long history, don't be tempted because quick profits in a new project are misleading.

What I think is that, you might be low-key promoting  this website without being noticeable. Your said you're afraid to lose you money in investing with altcoins, but you find this amazing and unique? Seriously? If you really want the amazing one. Then put your money in Bitcoin, that's much safer than putting your money in some projects that could potentially lose your money. Remember that, it's not only the scam that will make you lose money, but failed projects as well, because of the tight competition in the market.

DYOR!

This is all you do need, you do need to have that indepth research about the project from WP to the team itself and its usecase. I havent searched or seek up on the link given but its up
to you whether it would really be a worth project to invest in or not. We do have our own criterias on choosing a good project, some might that succeed and some might that fail.
This is why if you do believe if its a good one then go ahead and dont let others be influencing on what are the decisions you would be making.

And funnily enough that is precisely what people do not want to do, and that is because DYOR requires a big deal of effort, as even if you find that the project in which you were interested on investing is a scam in less than half an hour, you will need to look at hundreds of projects to find one that could be worth your time.

And this means investing tens or even hundreds of hours in this process, something the majority of the investors and traders out there are not willing to do.

If you want to invest in crypto, you better find more information about the project so you can find out if the project is worthy of your investment. Of course, there is no guarantee that the old project will produce better results than the new project and to find out, we have to find out for ourselves. We also don't need to spend a lot of money to invest in one project and it's better to spread the money over many potential projects so that our profits can be bigger. Apart from that, this also prevents losses in one project if the project cannot develop properly because we still have investments in other projects.

Investing only the money we can afford is the main thing that we should be aware of because we will not lose all the money and can still choose other projects with more potential for improvement.

It's better to look for other projects if we are in doubt about choosing one project. I have experienced that but I tried to continue to invest in the project but it turned out that the project really couldn't improve and eventually disappeared. Fortunately, I don't use big money and only small money so my losses are not too big and I can profit from other projects.

For bitcoin, it is our biggest opportunity to invest so we should focus on accumulating more bitcoins. And while we are still buying bitcoin at the current price, we have to use it well so we don't miss it to get big profits later.

Not sure if you've researched it?
But from my experience with this market there is absolutely no doubt that this is shitcoin, and at the moment we are focusing on the top coins as well as easier on the market trend.
Some things that I note to the OP about dyor, re-evaluate the basic criteria that come to mind, transparency, product, team, stakeholders,.... This is a place where it is easier to lose money than to make money, let's start from the most basic, don't matter big profit with a small investment that you can feel for yourself.

Really want to advise you to stay away from such projects in the crypto space, keep your money for the market leading coins for safety as well as profit.
Familiarize yourself with the market to have your own research that suits you what criteria you can accept to invest, or gamble, be wary of projects that are not transparent.

Investing in a new project has a greater risk than the benefits that will be obtained later, especially since the project does not have a professional and experienced team and developers. usually the new project will disappoint its investors. I think it's better to invest in old projects which have great team and the Products are listed on Exchange and have lots of markets traded

Of course, I don't really follow the projects that are used by Pinksale, but I really can't remember a decent project that came out of there. And I always avoid this platform. And such proposals as questions also pass me by

it is indeed very difficult to determine which projects will be good in the future, including the quiz project that you mentioned, if you have done research on the project and are confident in the project, such as the project development team, roadmap, etc., then invest your money but still an amount that you think is safe

It is really quite hard to determine and examine the legitimacy and capability of new projects these days unless we do a series of research. We need to be keen observers so we will not fall for scam projects.
If you seek assurance over risking your funds in new projects, better invest with top and trusted coins. Since you already know their capability, you better invest and accumulate more and gain profit when the bullish season comes.

Obviously, the topic was created to shill a specific project :)

It is possible and necessary to invest in new projects if you want to get the most out of your investment. It is no secret that new projects bring the highest interest to their investors, if they have time to fix their profits and do not get greedy. As for this project, I would not invest in it. This is not investment advice, but only my subjective opinion. I do not know any successful project with the learn-to-earn business model, all of them, sooner or later, will die because of the lack of liquidity and the flow of new money into the ecosystem.

I would say no and move myself towards more bitcoin oriented attitude. The problem is the out of nowhere projects are always horrible. This is worst way of having any project discussed. There is no official announcement of such project neither they have professional community. Most of the attention goes to project when it is in the discussion on Official forum. Such as this one with projects lead owners “leading” the official announcement here. Then we can talk about it and start discussing about putting real money in it. Better yet get out of it and invest in bitcoin or ether.

I don't understand why some people out of the thousands of projects on coinmarketcap you can't find any to invest into but those that you can see are the take my money and shut up, this is just one of the tokens in the space with no value and the team will likely pump and dump the tokens on you because if there is no demand the price will eventually die

It is likely that the OP is just shilling their own coin as otherwise it makes no sense what he is doing, there are probably hundreds if not thousands of coins released each month and each one of them is more terrible than the previous one, at this point anyone with even the smallest amount of experience on this market will know the majority of those coins are nothing but scams and money grabs for the developers behind those coins, and they will know they have to avoid them as much as they can.

You are probably right that OP is shilling the project that he provided a link for and in my honest opinion, a project that requires such shilling never really deserves investing in. If a project is genuine and has a notable cause and products and services that serve a purpose and has something to offer to their investors and users, they would use normal marketing techniques to advertise their project, not like this.

Projects that have nothing else than a pump-and-dump token that they utilize to collect money through ICO investors will always have something that shows their reality. It is just that a person evaluating the project should have a keen eye for detail.