Bitcoin Forum

According to me this can be done by

1) Detailed research about the project and people behind the project.

2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice.

3) Checking the community of the project on social media. If there are lot of bot replies or comments on their posts in social media like Twitter, there is strong chance that the coin price is being manipulated.

These are like general advice but do you some specific signs that newbies can spot in scam projects early. What tips you will give to a new investor to identify scam projects early ?

What kind of scam project is it, actually? Do you mean scam Bitcoin projects or scam crypto projects in general? Your topic should be under beginners and help or possibly altcoins discussion, for I can't think of Bitcoin having any other projects or even Web 3 projects that it could connect to.

Most scam projects can easily be detected by their numerous fake promises, which could sound too good to be true, not even having any good use cases, but yet you can see the project being hyped by many paid advertisers. But most projects these days appear to really be true, with great potential for team planning and developing real things, but at the end of the day all they are actually after is to rug pull and run. So one just needs to be careful before they make any investment in any project; personal research should be done in order to reduce the risk of being a scam victim.

There is no silver bullet to say Project is Scam. Lemme share my thought process if it gelps you.

1. Check Dev Team and their promises are realistic
2. Check any HoneyPots using Dex Analyzers like TokeNSniffer, WuikIntel, HoneyPot.is etc
3. Check their activities in TG, Twitter
4. Check their Tokenomics and justification if they want to hold some tokens
5. Check initial tradings of the coin and find out any trends like they are purposefully pumping to dump or other patterns.
6. Importantly, their project should have Sustainable Earning and Return to investors Model else it will be like Octopus eating himself
7. Invest only you can loose if you trust the project.

If you aren't ready to lose your money investing into projects especially the new ones, don't do it.

Whether it would be new projects, or whatever project it is, that's the only thing that I'm telling to them because TBH, no one can predict whether a particular project is a scam or not. Yes new projects have some red flags that we investors are putting into it, but the reality is, we don't know if a particular project is a scam or not until they will do it. Though there are still some projects that are obviously a scam, I always give them the benefit of the doubt. I guess it's because I'm not investing into new projects that's why that's  the way I think.

If only there is somebody who can predict the future, and tell which are scam project, and which are not then nobody is getting scammed in investing into new projects by now. We've seen projects in the past that has a kind of legit, a bit trusted, active developers, and yet they still scammed people.

The background from the developers matters a lot in this case. As long as people behind the project has very good background and they will be doing something stupid to destroy their reputation.
Just try to remind you that as we have hundreds of new projects come everyday. This is very difficult to knew whether the project used fake identities or not.

Many people in here have been experiencing in the altcoins project started from icos trend a few years ago.

This is also one of important metric but sometimes there was also legit project that have been getting so many bot replies caued by they were doing airdrop.
The airdrop hunters are spamming their tweets.


My advice never try to deal with a project that offers so many promises that's too good to be true.

This of course is the biggest red flag of them all! Once the promises sound too attractive, Runnn!!!

Greed and investing do not go together, a greedy investor will be more easily scammed than an investor who is content.

Yes this is really happening so I suggest to never use their social media presence as a major metric in assessing a project's legitimacy. Some people use it as reference if there is enough hype to invest in a token but for short term only. They buy before the train takes off and sell when more hype is created  - pump and dump purpose only for short.

That is the right step to indicate a crypto scam project or not in its project, especially in new projects, and it seems that there are already some people who add their knowledge and experience for anything to do in indicating the crypto scam project.

But the most difficult thing is to indicate whether or not scams in the crypto project that has been large or long journey, in the community, ecosystems, etc. and maybe the project has been running for quite a long time in its industry, like FTX, Terraluna and others who experience fraud Great in the project, this kind of thing is very difficult to indicate, so that even large investors were fooled by suffering a considerable loss until he was carried away.
The consistency of monitoring a project must be done even though you already have a big name in this Insdusrti, do not let you distract and as if you do not care about the money invested with them..

In my opinion, new projects are easier to be identical with these formulas to test them rather than projects that have been running for a long time.

Aside from the mentioned points for altcoin investors to avoid scam project, we still have a few red flags which i may likely point out which is promises on a certain % profits when listed, because we have some pump and dump scam that already promised a certain predetermined coin value.


This is all a plot to sway investors into putting down huge amount into the investment and coin during the pre-sale period and at the end the coin when listed will get dumped by the team who will pull an exit one on everyone,  

I have a few sure signs that a project is a scam. For example, the project only has a listing on DEX, such as pancakeswap, one wallet possesses most of the entire offering. The project's tokens are sold exclusively through the site, which can sometimes be freshly registered. The number of Twitter followers is fake. The project's website is single-page and some information is presented as pictures, not hyperlinks, when you go to which you can check the information provided. The roadmap is heavily delayed or, conversely, heavily ahead of schedule.

I think first of all it is important to mention, that even if you do your own research as thoroughly as possible, then there is still a chance, that you will become a victim of a scam. So only invest money into crypto that you can afford to lose completely.
My second recommendation would be to never invest into meme-coins. 99.9% of them are scams or dead within a few hours or days.
Also don't believe the follower numbers on Twitter. Followers can be bought or boosted with airdrops for example.

In short, DYOR.
Gather information as much as you can and in every place if there's related data you can see from the socials that they've got. All of it are just the same, a community, a place, the forum as everything that they could possibly be in must be looked upon for them. Because you'll need to verify every information you get and the forum is one of the best place to ask and also if they've got an existing community.

A new investor will have a hard time following hints to identify scam projects, because everything is new to him. He won't have any measures to compare one coin to another, because he doesn't know anything yet. For that reason, I would advise him to start investing only in Bitcoin. And only when he gets used to it and experienced about conversations involving altcoins I would suggest him to select some altcoins for his portfolio, following the guidelines mentioned by OP on this thread.

Some things can't be rushed. Time is needed until the investor learns and understands the difference between a promising and unfavorable coin/token, until he learns what is a coin, token, stablecoin, memecoin and their respective features such as PoW, PoS... If you supply too much information at same time, trying to help, he will just get confused.

Actually, it is part of the research.
 - knowing the team members
 - project use case
 - reading the roadmap

We already have to do these things but unfortunately, it never guarantees us a 100% safe investment. Scammers are absolutely smart now that no matter hard to check, sometimes we still fall into their hands. We just know later after a few days or weeks that a particular project turns into a big scam.

There are ton of things you can do. And this subject has been talked over and over in this forum,
But i have lost faith that most people would even have the tools or expertise to understand how to compare even succesfull projects. Not to mention identifying a scam.

So i am picking one of your advices here:

If you ask about a project. There's a good change that someone in here will take a look at it. Like i often do, even if i don't response to everything.
You might not get the answer you are looking for. And some people blame you for not doing your own research. But if you are asking a honest opinion and not trying to shill something,
you might get answer from experienced people. Some people will overlook the red flags, and some see red flags when there are not any. But you ain't going to lose by asking.

If anything, you'll get more data for your own research.

identifying scam projects might be quite difficult honestly, you just don't know which project gonna be turning out as a scam, but there are some sign that a project is legit
if you careful enough in your observation, one of the sign is the fact that the project got massive supports from either venture capital or some big exchanges not some measly exchanges
but big one like binance and kucoin and you could be sure that these project legitimacy are really high after all those exchanges would almost 100% sure make a thorough observation in regards
of the coin that they listed they just avoid scams at all costs and you could easily follow that.

The easiest give a way if a project is a scam if it promises crazy yields like 1% a day or something. Many will think, great after 100 days my money will be doubled. But it’s not always the case.

Sure there are some tokens that can yield 1% a day but it’s in the token not in fiat terms. So you’ll double your stash of some useless token in 3 months but the price will go down 50% in the same time frame.

Biggest giveaway is if they promise yields which just aren’t possible. I’d stay far away.

The ambiguity of projects about the necessary information to share with everyone, such as tokenmic, team, capital, project content, ... moreover, look at low-cap and planned projects. ido plan or listed on low quality trading places. The crypto environment can be said to have many special things, but it is also a place that attracts many scammers, taking advantage of greed is a worthy act. I have been exposed to a number of projects that follow trends in the period of 2021 and I have realized that when money flows into this market easily, scammers are active in many places.

The best one to identify the scam project by checking the profile of owner and associates in the social media.You have to check with the social media like Facebook,Twitter and LinkedIn will be enough.Because most the real projects will share their own real Id without fear,So they can assure to run the project in long run.Most of the good projects will survive over a couple of years,it was easy to earn good profits from good projects.

The basic identification of a scam project for me personally is that they are always looking for hype from short term trends, there are things like former ICO, IDO, DEFI, NFT, CEX, DEX, MEME, WEB3,... are all crafted to approach the hype on each stage. It is necessary to research everything before deciding to buy, there are criteria about team, community, token, potential, ... for basic assessment. However, in any environment, they have low quality projects, so I think it is really helpful to look at btc or top altcoins to see what's going on around.

If an exchange like Binance is supporting the coin, there are good chances that it is a solid coin. This is because they take a lot of scrutiny before establishing support for any coin. But is is not 100% full proof way to find a good coin.

Yes this is applicable but rarely some give feedbacks unless someone is very fond of altcoin like myself. Im usually lurking and finding some gem on the crypto space especially the new projects. But I cant even guaranteed its good one since many parameters can be discern out of it. Apparently, only few are altcoin enthusiasts here due to a lot of scams and also this is mainly focus on bitcoin feature, news, update and etc.

The main indicator is that the project is good to be real, those projects that promise the user a lot of tokens, most of the distribution of currencies is short-term, the focus is on paying for advertising and advertising, the developer team controls a percentage of the assets, and there is no long-term plan or thinking to solve a problem.The currency is not required to be scam to avoid it. If it was a failed investment, then it and scam coin are the same, you will lose your money.

Usually we easily come across scam projects in this market, and it is worth noting here that the size of these is quite low, they only come with the criterion of trend, or tokenmic There are doubts, the team is always vague in sharing information about themselves and the project, or likes to promise to be a competitor to projects that have received a lot of buzz before, as well as like to abuse their work list on big CEX to build trust. Generally, these things will often abuse the greed and ignorance of investors when they first enter the cryptocurrency market, so don't expect too much profit when you need to face reality, have neither the knowledge nor the luck to receive illusory profits.

I want to look at investing first here, that most of us look for profit in the first place, and it's very easy for us to be swayed by exciting news about an opportunity. Just like hearing someone hungry about investing in crypto can make a thousand times profit, but the truth when we get into it, it's like a maze with many different pitfalls, I think to share from OP is also quite interesting, but IMO here is that we should most taste the failures and limitations after experiencing them.

You can see whether the project they have created is a scam or not by looking at their promises. See how they promise about their projects. What is the price for the initial stage of sales, how much profit or return will they get, and what are the attractive offers from their project. Is it too ambitious or not.

You can check all of them and make sure whether their project is a scam or not.

Many good point in this list so a newbies can follow op list. A scam project giving many fake promise with news. A real project dev team profile is clear like social and there support is fantastic. They have strong community with larger investors family so for a good project no need long time for token slaes.

First thing I research first if I found the project interesting is about the project team members. We don't want project team members who don't have any experience in doing things or at least have no achievements to present in the community. Second thing is deep checking their project white paper to see their plans and problems to be solved. Third is their road map. You need your personal decision to identify if their project goal is achievable in that certain amount of time because not achieving it at that time means that the potential of them losing their token value in the long run is high. Though if you think that the team members and project roadmap is fake that they get to the point that they plagiarize it and if it is too good to be true, then you can identify it as a scam project.

Even if you identify the project as a legit project, there still a chance that they are just a good scammer. It always happen, just be careful. Remember to not invest in too good to be true projects cause it is probably a scam project.

Sometimes those scammers are so smart to the point of building a fantastic social media account..with huge followers who are made up of tons of bots accounts all with the aim to deceive their victims into beliveing that their have a solids team behind the project, meanwhile there is no single team or just a grouo of scammers that call themselves team.


When it comes to altcoin investment, its better to invest in already active top coins in that way you can easily check their previous price chat and movement to know what exact to expect rather than being lifted on promises of the team involved.

As a new investor who have no clue about market behavior it will be best to stick to top coins, this can't be emphasizes enough because of the various scam activities that usually happens in this space and most especially to new investors who can not identify scam projects from real projects.
It takes a lot of researching, observing and reading different guide to be able to identify scam projects and avoid them but not everyone has the time and patient for it.   

In summary

To identify potential scam projects early, new investors should:

Conduct detailed research on the project and team.
Seek advice from experienced members on forums.
Check for manipulated social media activity.
Look out for lack of transparency.
Be cautious of unrealistic promises.
Verify the authenticity of whitepapers.
Scrutinize partnerships and endorsements.
Avoid high-pressure tactics.
Stay vigilant, trust your instincts, and perform thorough due diligence to mitigate the risk of falling for scams.

This is a wide range and important for newbies to be aware of. Scam projects can be deceitful and you can look at the manager handling the project, if the token is escrowed.

I believe if a project that has not been listed asking you for KYC should be a red light. This is mostly the case with bounty projects. I think I had a thread with lots of contributions on that, you can check this thread for some of the signs also covered therein the link https://bitcointalk.org/index.php?topic=5230885.msg53975958#msg53975958

If the project has no usability and thrives on shilling and there are loopholes on their whitepaper and the team then these signs are considered a scam if you look at the scam sections so many projects are exposed as having a plagiarized whitepaper and fake team.
The project is just a copy of existing projects and their type of marketing is shilling, for me, new investors should not invest in new coins and just concentrate on coins that have proven their worth in the market unless they have huge capital and are willing to take risks.

In fact, sometimes, no matter how detailed we analyze, today's scammers are very skilled. In fact, they liven up social media and seem to be really an active group. Their marketing methods are also sometimes no less intense than legit projects. It's kinda hard now. The point is if you are ready with the risk, enter into a new project but still make decisions from various analyzes. But the risk will always be there and be prepared. or don't enter the new project, it's better to just top coins which is more reliable.

Aside from this check about their whitepaper and roadmap.  Most of the scam projects are just a copy of another cryptocurrency that became the trend.  Too good to be true promises and developers don't want to show their pictures.  Making high-profile personalities on LinkedIn part of their team without the person knowing it.

About the project, there is no need to research that, we just need to verify the validity of the claims of the developer about their accomplishments.

when the devs are so money oriented, you know they don't care about the project at all but only money is of their interests.
i've seen many projects that ended up become scam have the same stingy devs that are just there trying to get all the money.

I think roadmap, whitepaper and identity of team members are important issues. Anonymous developers are not welcomed by investors nowadays. Developers must have a clear and verifiable identity. You should definitely check the roadmap of the coin or token you want to buy. In this way, you can understand whether the project team is faithful to its word. A unique whitepaper detailing the business model is also essential. Scam projects generally leave these stages incomplete in order not to leave any traces. However, of course, doing all this will not protect you 100% from dangers because this market is unregulated and open to all kinds of dangers.

there has been so many characteristics of scam projects being mentioned above but I think it's also necessary to add some facts in regards of heavily manipulated projects.
in which could be having the same after math like scam projects that is causing massive loss towards many of us.
one of them being, the devs having full control towards the smart contract, basically allowing the devs to mint some new token.
even worse is when the smart contract using upgradable contract mechanism in which expose to the potential of being rugpulled, but then again, people could always determine this smart contract deployed through extensive reviews made by some experienced companies.

Yeah, this is a red flag when they talk about money, money and none other than money and returns.

Greed is on those developers and that can't be helped and stopped unless all of them have become exposed to their nature. That is why as an investor and if you're wth these projects that still gives you interest, you need to safeguard yourself and have a standard the least.

I would advise new investors who do not have a good knowledge of crypto not to get involved with alternative coins at all. There were, are, and will be many newcomers to projects that may not be fraudulent; that is, they do not carry the idea of deceiving investors, but they have little strength for development. Ideas can be exciting and attract publicity at the first level, and even the people who are involved in the project can have famous names, but sooner or later everything turns into dust. If you want stability, trust Bitcoin, although investing in it is quite risky. But if you are attracted to altcoins and their promise of rapid growth and profits, get ready to lose everything. Many have stumbled with faith in alternative projects and have concluded what is more important to them.


All right. If there is even the slightest doubt, you are not mistaken.

The team members and their background checks are essential when researching a project. The team often falls out which can be a bad omen on most cases and thus never take the initial team list and final and accept that they will leave when their bags inflate with price and you will have to handle that or get out at the same time.

Next would be going to LinkedIn and attempting to talk to the advisory board about their opinions. They may know about the project and only talk positive which is normal, because of vested interests. While some others may never have heard of it, which means that the site is scam and put up those names just to appear legitimate.

Stock images used and copied white papers are red flags. Still no method is full proof, your luck is a factor here.

You are right. And the saddest thing is that people still fall for these even if these are too good to be true.

Just buy the old projects because certainly if they have lasted the bear market, they eventually be among those altcoins that also will go up when bull run arrives. And it seem very close already since halving will be next year already.

Becoming an investor these days while the rest of the world are struggling or even have no access to crypto market is the best thing an indiviual can do this time.

not so many scam project nowadays.

first, you need to separate scam project and failed project. i saw many failed project not scam now. i agree we need to do " due diligent " for all crypto project. but the most important thing, we need to understand that project in crypto is just like start up in real life. most of them will fail and the coin / token will never comeback. from 2014 untill now i saw thousand scam and failed project. IMO we need more then due diligent to invest in this industry, we need investment strategy like " spreading investment in many project "

1. totally agree, because research really needs to be done before investing or supporting a project.
2. if there is a problem that you don't understand you should also ask directly in the telegram group so that you get accurate information from the admin.
3. sometimes bots are used so that posts look crowded and people are interested in reading. Bots on Telegram are used to answer questions frequently asked by group members.

The best thing you can do is don't get rush to invest in any coins that you think are new or old but have slow development and rare updates because these are mostly the red-flagged coins especially new but have some anonymous owners or teams behind them because they don't want to be known they have hidden agenda. They also have other plans when their coins do not meet their expectations. Where they try to reach the soft cap at least, they will disappear with the investor's money, and even though they have huge sales, if they are confident about their anonymity, they will still choose to dump their coins at any moment because no one knows them and no one can arrest them.

Investing in altcoins, especially for new projects is prone to scams so I encourage newbies not to fall into them but rather make a decision to buy BTC and ETH for safety and guaranteed profit when they hold.

Scammers are too clever as we know, they won't let somebody knows their real intention. That is why many newbies got fall into them and just notice that they get scammed after buying. If we are not cautious in choosing altcoins, we are possibly their victims, and in just a blink of an eye, our money was gone forever.

Check a project's popularity, people who pronotes it and manages it and more. But these things won't guarantee whether a project is a fraud or not. Unfortunately, even the ones with good credibility in this industry still has a tendency to end up like one 'coz we would only know that it is a scam project once it did its "thing". We saw many projects having huge potential but turned out to be a scam and likewise with suspiscious ones which turned out to be legitimate.Limiting to established coins in this industry won't be advisable as well. It'll always be better to diversify your money to different projects 'coz it would help managing the risk and generatinf bigger profit if you'd be able to determine or make  close to certainty checking of tokens or project in general.

This is important, but not the most vital, of course, the people (team) behind a project will influence how the public evaluates the project which will impact the sustainability and development of the project. The bigger the name of the person behind a team and the more capable the people are, it will have a very good impact.


This is a silly way, not meant to judge, but when you discuss a project (altcoins) on the forum, not a few people in this forum think of you as a shiller or someone who is doing soft-shills.


This is my way of easily identifying poor projects who are unable to properly manage their projects. And for that reason, they have a very high chance of leaving the project.

Check the goal of the project is realistic or has a potential. Scam Project roadmap usually just list bunch of tash that can be done on one quarter and they just listing specific task to prolong it. Also if the project keeps emphasizing exchange listing, price boost and influencer marketing then this is a clear sign that the project is a red flag.

For starter, Check the code of the project is it’s undergone an audit since most of the scam project don’t have the time to get an audit for their smart contract and just focus on shilling to attract investors.

That's a very good observation. Indeed, in the first year of learning cryptocurrencies, I would advise any newcomer to stay away from altcoins and from trading. It is almost 100% the way to lose money. At the same time, I don't advise anyone to buy bitcoin until you have a basic understanding of bitcoin and the crypto market in general. Buying any asset without any prior knowledge always results in losing money, even if the asset is called bitcoin.

If you are a new investor, then I would suggest you to not invest in any new projects. Go for projects which are already there in the market for long period of time, or atleast projects where big people are partnered. If you do it then, the chances of getting scammed here decreases. Though I won’t directly advise you to invest in altcoin projects, but it’s upto you OP. Projects related to Bitcoins or Ethereum have more chances to give you profits.

This is one of the tips to ensure that we take care of when choosing a project for an investment, they must have a past and long term existing progress in their offer, not that we cannot invest also on the newly introduced cryptocurrencies but they have to be from the reliable sources we have their guaranteed reputation over years in cryptocurrency, because we cannot afford out of our own mistake loose the entire money we are investing on them


People are investing as long as they have the money or asset to exchange for an investment, there's an open market investment in cryptocurrency where you have the freedom of choosing which cryptocurrency project you want to invest with, when how and where to store your investment asset over time, unlike how it has always been experienced with the traditional financial economy of fiat currency.

I completely agree with you on that one, I believe newbies who are new in the industry should first learn everything and then think about investments, and initially, the best practice for them would be to only invest in the top and trusted cryptocurrencies that too when they are low in order to learn how trading works if they keep doing that and stay in the market, they will slowly start understanding everything and will be able to identify legit and scam projects over time.

That's why it is better to not invest in new projects if you are new to cryptocurrencies because you can lose your money and won't even earn anything nor will learn anything, but if you invest in trusted coins and learn from them and from around the industry, you will one day be able to easily spot scam projects.

Usually scam projects offer so attractive profit that even experience investors sometimes make mistake. If scam projects will offer a small and reasonable profit they will not be so attractive for investors and nobody will invest in scams.

This is why I check the people behind it, if there is a project with people who have been good for a while, then I would understand that it is also quite similar for the next project. If those people worked on different projects before and made some money, that means it is going to be quite great for the next one as well.

So, bunch of people who worked in maybe over a dozen different projects as part of something, then could become a bigger deal and make a profit later on as well if they end up building something together. This is why I believe that we should be careful about it, I know that it is not going to end up being that terrible but it is also not going to be that amazing neither if we are not careful. Always look at the team, that always matters.

It is in such development teams that large capitals most often invest money. If the project has financing rounds, it means that the developers there are experienced and have some portfolio of their past developments. The higher the level of venture funds is, the more experienced the development team is. Funds also take risks into account, because no one is likely to invest a lot of money in a team without experience.

Even expert investors cannot guarantee that if they invest their money in a new project, this project will succeed and will not fail halfway or at the end; I know that their experience is undoubtedly higher than that of newbie investors in sniping and choosing new and non-scam legitimate projects, but there are many factors that depend on the success of the project, and it is impossible for them to know what will happen in the future, so I advise the new investor or the one with experience to invest in old currency projects, which have a huge status among all currencies, but he takes into account what happened to the Luna currency and not rush to choose, and if he wants to invest in a new currency project, he should conduct a deep research about the project in all its aspects, and look forward to knowing the team’s skills and previous experiences, as this is an indicator that may help him determine a good project.

that should also be a sign and massive one at that that determine whether the project is scam.
I think distinguishing and figuring one is quite easy honestly its just that some people actually getting blinded by greed disregarding all the possibilities of the project they were invested in of turning and becoming scam because
they thought they'd earn massive amount of returns in the future.
thats what happened with most of scam case, they know something is wrong, but the supposed future profit that they thought they'd get make them frenzied regardless with the investment.
I think besides identify through logical means, one should also know self control and avoid become greedy.

You can go into the official website of the project then checked all of the member of the TEAM.
If they don't put the face of the member of TEAM i can guarantee it almost scam project.

That's indeed a general tips, however it is not only the scam projects that can cause your invested money to lose. You will also need to keep in mind that not every project becomes successful eventually 1 out of 20 projects might become successful and gain good value in the market. So, that's what makes these new projects a very risky investment in crypto space. One important thing to look at is the community and investor's interest into a certain project - that means you need find a community with mutual interests.

I think that the most important is to check what exactly product the project offer and how useful is this project and how many people will use it. It is also necessary to check the team to understand how it can to realize all planned ideas.

Someone want to create a new altcoin and then after they read this post, they will do this thing:

1) They will hire someone who experienced to create an altcoin, so it will help the project to make sure anything can be accessed to public. They will create fake linkedin accounts and claimed each of them are professionals.

2) They will buy high ranked accounts in this forum and vouch the project.

3) They will hire people to shill their projects and make sure no reply is like bot.

Now the project already looks legit and they can start to scam ::)

Newbies who go into new projects have one thing on their mind; "I am too late to making big amounts of profit from bitcoin, that can't go x100, so I should invest into something new and take the risk, maybe I will find next bitcoin". We all know how many of them end up losing their money because of this, and that is why it doesn't make sense to invest into new things and we all know that's not going to be a smart decision even for veterans let alone newbies.

However, that doesn't mean that we are going to not do it neither, there will still be some people who will do it one way or another and I believe that we shouldn't be really shocked about this neither, we should be considering this as normal and just hope that people do not invest all their money into it.

I know that during some ICOs, presales, or pink sales, most of those projects are scams, and they go to every length to make sure that they advertise their coins or tokens so that they will get huge investors, and at the end of the day, they will run away with investors fun. About ICOs, I would advise a cryptocurrency new investors to avoid buying a token on the pink sale, or perhaps he or she should just avoid buying a token on presale and only buy the token after it has been listed on CEX. Listing on CEX doesn't even guarantee success for the project, but at least it will reduce the risk of buying a token for $2 during the pre-sale and selling it after listing on CEX for $0.5 (lol). That's how it always happens. Although, there is still some possibility that the token could leta get pumped, if it's not a scame project. So, newbies should avoid investing in ICOs unless they are ready to bear the full risk of losing their money. Also, on the internet, any person who asks you to send your coin to them so that you will earn 10%, 50%, and 100%, respectively, within a week or few days of investment should be avoided; it is obviously a scam.


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

Scam projects are always about the price appreciation and comparing it to other popular coins because they know their project don't have any value but by keeping the hype in their community groups high, new investors will keep investing in their project, observe the discussion ongoing on in their group.
Projects that want to grow will be focused on development and not first and not concerned about the token price because they know they'll appreciate in the future if they can deliver on their promises in the whitepaper. Good project doesn't have thousands of supporters when they start so watch out for that.
Scam projects buys thousands of bot to their telegram group so they look legit and convince new investors to buy their tokens. Legit project grows with time as more investors get to know about the project because of them getting listed on top exchanges and giving their investors good profits.

How can you know whether they have been putting their real face or not? i have experienced that so many teams were faking their faces. It's caused by they wanna only fooling investors. This is the main problem.

It's better to join in a project that has been fully doxxed by the trusted company rather than gambling on their faces that showed on their site.

It is true that there are many cases like that, therefore, to minimize the risk, it is better to join a project that is clearly carried out by a trusted company,
we need to take the time to do research and that's very important,
they scammers have many ways so we have to be careful.

These two things are things that happen very often and make newbies fall into scams or ponzi schemes. sweet promises will multiply money quickly from investing in a new project especially with the support of certain celebrities for promotion, or with various false promises and evidence, some or most newbies will believe easily. Unfortunately, not all of them are willing to study first and be more thorough. Most only focus on the money they promise so they will easily fall into the trap of scams. This happens very often but it seems like it keeps happening over and over again.

It's even funnier when they put pictures of cartoon characters... it screams "scam" right from the start!


Nice comment... if we notice anything from what you wrote it should trigger the alarm in our head. Most of the scams have unrealistic promises, we can never forget the old one "If it’s too good to be true it probably is”.

So the best tip for new investors is to check everything, literally everything... starting from grammar, website design, WP, roadmap, etc. And if anything raises any suspicion, just turn around and walk away.

It is important to exercise caution when investing in the cryptocurrency market. Prior to making any investments, conduct thorough research on the project you intend to invest in. Verify that the project's team members are easily accessible and have a visible presence to the public. Examine the team members' profiles on social media platforms. Engage with the team members to address any inquiries or concerns you may have.

Evaluate the activity level of the project's social media platform. Ensure that the team is actively responding to queries and that the group does not contain excessive spam posts. Be wary of unrealistic promises of high and rapid returns.

Examine the token distribution and supply. If a significant portion of the tokens is held by a small number of individuals or if the team appears questionable, it could potentially lead to price manipulation.

By adhering to these guidelines, you can minimize the risk of falling victim to scams. Most importantly, only invest funds that you can afford to lose.

The project idea of sells then the project will do good, this is a known fact. But most of the newly launched coins don't solve any existing problem rather load up the cesspool of shitcoins with more. Hence you can go by that idea and you will realise that most coins are worthless and thus stop yourself from investing into them. There can be an occasional good apple but that will not get the deserved attention because of the noise made by other coins.

This and working on the team members background yeilds a lot of insight on how the project might progress. I always tell people to give at least a couple of years if unsure about investing and then watch them before buying in.

 The best way to identify a scame project is if we do some research about the project, the research should not just be on one aspect of the project, but every aspect of the project should be properly researched on, otherwise you might not know if it's a scame project.  Also, there are some projects that have Announcement topic on the Altcoins Announcement board, newbies should look out for those announcement topic of any project and ask some questions about the project in their ANN topic. If a newbie do a proper research about any project, it will be difficult to invest into scam projects.

Poor grammar, spelling or anything that doesn't have to do directly with the project doesn't mean the project is a scam. Sometimes it might be they hired an unqualified community managers and they haven't noticed the manager to be inexperienced for the job. The management of social media is a community manager Jobs.
Some projects teams are anonymous but that shouldn't mean they're a scam, nobody knows Bitcoin founder but bitcoin isn't a scam and we have some other projects like Shiba Inu and they aren't scam. Some projects founder don't like to be the face of their invention but allow the community to be incharge.
Any project that has fake endorsement is a scam, as no real project will want to associate their projects with fake things knowing that if they get caught they'll lose their trustworthiness from their community but scam projects don't care, they're just lookimg for ways to trend so they can get more victims to scam.

Special knowledge that everyone wants if we can see from the start that the project has the potential to be a scam because it is very difficult even though we have taken the steps that have been suggested, so I have not dared to start investing, especially in a new project, I have tried many times but I am unsure and fear is always there. therefore it is better to play it safe by investing into the old top altcoins simply researching market movements to determine the right time to buy

The risk won't disappear even if you are confident with the project you are investing. There's always a risk in investing and doing research with the project helps you to reduce the chance that you will get scammed or take a loss on your investment. Investing on a project can possibly make you generate good amount of profit but playing safe like investing when the project had been deployed and it is saw by the community that it has a potential, the profit margin you will earn is not that high. I believe knowing a scam project is not a special knowledge but an accumulative experience from various projects. Small details can make you know what's legit or not.

When investing in cryptocurrencies, it's crucial to be vigilant and cautious to avoid falling victim to scam projects. Here are some tips to help you identify potential scams:
1. Thoroughly research the project: Before investing, investigate the project's background, team members, and advisors. Look for a clear whitepaper, a well-defined roadmap, and a transparent project website. Lack of information or an unprofessional online presence can be red flags.
2. Assess the team's credibility: Verify the team's qualifications, experience, and track record. Check if they have a strong online presence, engage in community discussions, and participate in conferences or industry events. Beware of anonymous teams or individuals with questionable credentials.
3. Scrutinize the project's goals and technology: Assess the project's objectives, viability, and technological innovation. Determine if the project offers a unique solution or if it's merely a copycat of existing successful projects. Be wary of exaggerated claims or promises of guaranteed returns.
4. Review the community and communication channels: Analyze the project's social media channels, forums, and community engagement. Look for a vibrant and active community with constructive discussions. Be cautious if there's excessive hype, aggressive marketing tactics, or a lack of community interaction.
5. Conduct due diligence on partnerships and endorsements: Investigate any claimed partnerships or endorsements to verify their authenticity. Reach out to the supposed partners or endorsers to confirm their involvement and support.
6. Be wary of high-pressure tactics: Beware of projects that employ high-pressure sales tactics or time-limited offers to create a sense of urgency. Legitimate projects allow investors to make informed decisions without rushing.
7. Check for regulatory compliance: Determine if the project adheres to relevant regulations and has obtained necessary licenses or approvals. Compliance with legal requirements is crucial for a trustworthy project.
8. Seek independent opinions: Look for unbiased reviews, third-party audits, or opinions from trusted sources within the cryptocurrency community. Consider engaging with experienced investors or joining reputable forums to gather insights.
Remember, it's essential to exercise caution and skepticism when investing in cryptocurrencies. If something appears too good to be true or if you have doubts, it's best to err on the side of caution and avoid investing in suspicious projects. Conducting thorough research and due diligence will significantly reduce the risk of falling victim to scams.

By checking some samples you can understand a scam project. Like social accounts of those projects like twitter, telegram, Instagram, YouTube Facebook because a good project is active in all their communities. Also you can research about seo in that project to see how true his experience is. If they are promoting any falsehood then you should abandon those projects.

The world of cryptocurrency is growing day by day and along with its growth are also increasing its scams and new methods of those scams. So the current situation is very difficult to understand which project is going to be a scam and which project is legit. But even then following some basics to understand scams I think you will want to avoid scams even if you don't identify them. Like seen the background of this project who is behind of this , check the developer, verify the certificates and check the information is true which given by them. Visit their white paper and take help from forum or others community to more info.

refrain from investing in a project that falls under category of shitcoin and meme coin, usually these project have no use case, rarely good products its just plain token that they offered and thats it.
you already do yourself a favor saving yourself from investing into shitcoin which definitely have the potential of scamming you.

I do not invest in new coins at all. I created this thread to help other new investors who get tempted from huge returns being offered by new coins. One must avoid these coins or his whole trust on bitcoin and ecosystem will collapse.

Generally, it emphasizes here the importance of doing deep research on a particular project before investing. This is the most important thing to do in order to avoid falling into scam projects because even if it was suggested by some forum members and any influential personalities, it is our obligation to undergo separate assessments just to make sure that we are investing in the right project. Because what I see is that many people (new investors) had invested in new projects without any piece of information about the project, they only just hear it from some friends and then believe it. But it was not enough, we should be more cautious when investing knowing that scam projects are flooded in the market already.

You will see this point quite a lot of the project is running a bounty campaign to promote their projects. Most of the comments there are just garbage and so many recycled words that is not bring nothing constructive into the projects.

I would not recommend checking the Twitter for this kind of matter, would be better to check the telegram to see how well they manage to answer any queries from the askers both investors or just lurkers. You'll see something good there based on how well they answer and how the supporters acting.

Perhaps, we can't fall into scam projects if we are able to determine whether that project is a scam or not but at some point, some promising projects had also turned into scams, and Terra Luna is an example.  I would say that it was hard to determine early if the project is a scam or not because these developers are clever enough to keep their intentions, sometimes we only got surprised.

This is why if we have to invest in crypto, better to choose only those projects that it has existed for many years and still show good performance like BTC, ETH, and BNB.

I certainly agree especially now that everything could easily be faked from followers to ratings, websites and more so we really have to be careful and skeptical. Deep research is the only thing that we can do to double check the legitimacy of a project.
We shouldn't just rely on what we read and what we see as they could be easily faked and manipulated just so they could gain attention and trust of their investors.
We should know the reputation of the team behind each project and check if they have a concrete plan in the long run. Scam projects sre everywhere these days and most of them looks legit so we have to be careful.

Social media are complete no on. I have been following some older scam projects and they used to populate their social media with paid posts and now they are dead lying with a handful of followers with zero activity. Looking back at the time they were active, it would have seemed that the project would have been a huge landmark one, but of course this is only a facade.

Hence to evaluate a project, analyse their teams their backgrounds and the feasibility of the project and whether it solves an actual problem, like I have said in many posts, such projects are almost non-existant in this niche market.

The reason behind this common pattern in all projects is that they outsource this work to same companies most of the times. Or in worse cases, same person is behind these multiple difference scam coins.

For me, this is the most important because there are a lot of projects that are fake, like whitepapers are fake, their social media or websites are fake, and followers are fake.
Also, check the community because some could be fake, try to google also, and search some keywords. And verify also their team if they are legit because some projects are using fake names or names that are famous without really them knowing.

Too good to be true promises in some projects maybe a sign they are just fooling with investors. Social media accounts can be boosted to make it more legit looking that is why it is too important to make your own due diligence. Even with reputable teams a project is not guaranteed to be successful. I experienced projects before on signature bounty that has reputable teams but end up with shitcoins. So beware! 😅

One side for the OP too and one side for those of us here who are still young in understanding. Maybe OP's advice is also useful, especially for newcomers. From the OP to point number 2, namely 2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice. I'm pretty good and that review is what we're really waiting for here.
     

My opinion on identifying a potential crypto scam early is to conduct thorough research. Look for any flaws or red flags in the project. Some people, however, tend to prioritize finding what will hype them up, often investing first and researching later. They search for green flags even when the value of their investment has dropped significantly, perhaps to ease their fears or maintain the belief that their tokens/coins will eventually surge.

My advice would be, for instance, if you've found a crypto project you really like and are certain about investing, plan ahead. Establish exit prices for both downturns and upswings to manage your investment risks effectively.

Well there are had been some projects whose social media always give prompt updates and replies to enquires in all their social media platform yet the project ended up a scam this is from personal experience, I invested in that project in 2018 it was well packaged, promoted and well advertised with a well define roadmap, I so much had confidence in the project that it going to be a successful project, they did a successful bounty campaign here launched an ICO phase 1 and phase 2 and all their investors were looking forward to the successful launching of their token in a reputable exchange Lo and Behold they suddenly disappeared without any traces it was a big disappointment henceforth I can invest with the money I can afford to lose in any new project.

Maybe it's good but in my opinion It's a bit difficult to identify fraudulent projects early and requires in-depth research, critical thinking and vigilance. one way is to look at the whitepaper, evaluate the partnerships they have established, whether there are any red flags and of course this at least increases the chances of avoiding fraudulent projects and making the right investment decisions.

Here are a few more tips:

1- Not Realistic promises:
If a project is making unbelievable claims of guaranteed high returns or quick profits with little risk(like they will say give 1x and they will give 10x in few hours). Don't fall in these kind of projects.

2- Lack of transparency: Scam projects don't provide clear information about their plans team or progress. If you get any problems to find detailed information about the project so be careful and never invest in these projects.

3- Poor support: If the project team don not respond to questions so in my point of view it's a warning sign. Good projects always give a good support to the users and will give answers of your questions.

4- Copying from others: Scam projects copy content from reputable projects or websites.If you see a project that has copied content so you ( newbies) should think before investing in it.

Always do your own research and never invest according to the others suggestions.

some investors have already mastered knowing the right entry and exit strategies so they might be able to profit from memecoins

most memecoins are definitely best for short-term only so that should be kept in mind some investors who have been investing for a long time might not be as eager to “waste” time and resources in memecoins or they might not be as knowledgeable about memes in general

The best thing that a newbie investor can look at is with the developers and everyone who's part of a project. Looking at the team, if you are familiar with some known notorious developers then you're not going to waste your time looking at them.
And if you find someone that's not real like a grabbed photo and name then that's another factor why you need to avoid that project and even if they're good in the marketing and enticing you as investors.

A scam project has one common characteristic. Most of them use greed to attract investors to them. They offer a high APR, bonus, imaginary future rewards or some kind of benefits that is not easy to resist for an investor even they identify them as an scam project. What they do is distribute rewards to their early members and they are the ones who market that project throughout the crypto industry. Later participants are the ones who took the financial loss. There are some scam identifier project in twitter you can follow them as well.

Investigation is necessary but sometimes a person Investigate about a project but after sometimes the project become scam. Actually in bear market lots of project become down so they are mostly consider as scam project. It will be helpful if we try to know about the project manager as we can search about the history or can see past results of project created by that manager but a person with little knowledge will not take it serious to search about desire project.

Investigate about the aims and vision of the project and also know the listing mechanism and exchange at which it's coins will listed can also be beneficial in order to accept or reject certain project. You can search about the value of token but sometimes token does not have any value but when they listed on exchange then these token can make a person lucky.

Do everything possible to know the team members in that projects before embracing the project, because it will be difficult to see potential investors around fake projects in the community because they have all the tools to identify them easily. Try to carry out your personal research before making your final decision in that particular projects no matter the evidence you get from members in that particular projects but ensure you research how strong the teams are and how old are they in the community before investing your money.  Always ask questions when you notice some things you have never experience before in the project, and the answer you will get from the question will determine if the project is fake or real.

If an investor is really looking to put their money in a project that is just being released, they really need to put the project under the microscope and look for anything, no matter how small, which could indicate that it is a scam, thankfully if you know what you are doing it is not difficult to find some inconsistencies in a matter of minutes and avoid investing in that project as a result of your due diligence, however probably one of the saddest realizations you will make if you do this is that most projects are being released by scammers and there are very few real projects out there.

Yep, those are the signs that we can easily recognize sh*tcoin things. Checking smart contracts helps us somewhat know the quality of that project, but most people who come into contact with hype projects expect big and fast profits, like playing the lottery. Of course, if you don't have skills, or even if you have skills, you can easily be attracted by promises of profit. After many trends have appeared, we all understand that this field has seen a shift in current trends. When scammers are more active, they break the nature of trends and even seasonal things. So there are many beginners who make mistakes when starting out. I always feel sorry for those who start without learning the basic principles of the investment process.

Shitcoin is not something you can see, but meme is something that promotes itself. If something comes up with a name "apeshibadogecoin!" and you see that, know that it's full fake and horrible. I have seen one called PEPEAI, it was using pepe and also AI in the same name just to make sure people buy.

And there wasn't even anything AI about it neither, it literally had zero AI in the system, it was just using the name, and promising something related to AI will be added on later when you give them enough funding, I am sorry but I can make an AI product if you give me enough funding too, or you can too, everyone can do that if you give them enough funding, that is not really why people like to fund projects, you need to have something in your hands.

Well I think a new investor needs to be careful with investing in a new project. There is thousands of projects that we know are going to fail or will in the end do a 'rug pull'.

But a new investor will still want to invest if project can look profitable. We need to be careful how the project handles itself on forums and social media. If it does sound like the profits is too good to be true then it is good chance to avoid the project.

Be wary of premature project partnership announcements. Especially if the project has not existed for a long time. Building a strong reputation among companies such as venture capital firms, media or large stock exchanges takes time and effort. Questionable endorsements or celebrity given token boosts, can also contribute to making a project seem more important than it actually is. Remember, the scammer's goal is to increase the perception of the project's importance, which then translates into positive price action, further generating FOMO in its eventual victims. Therefore, we must carry out careful in-depth research in order to avoid losing money, especially as finding the latest forms of fraud is not always easy.

Identifying scam projects early is like navigating a minefield; they're getting smarter. I've been burned by a seemingly solid project that went kaput, draining all capital. Despite having a good team and product, they just pulled the plug. I recall us developing the app, and suddenly, the CEO dropped a bomb, canceling the project. For me, a doxxed CEO and team is a plus. It means they won't sacrifice their reputation for a crime. It might fail, but at least it's not a scam or rug pull, a tough lesson in the unpredictable world of crypto ventures.

You provide good advice for new investors in identifying fraudulent projects. In addition to these suggestions, there may be additional steps that can help identify fraudulent projects early.

1. Check the project whitepaper carefully. See if the information is clear, credible and detailed enough. Avoid unconvincing project whitepapers.

2. Explore the background of the development team members. Check the background of the development team members. whether their team's experience, expertise and track record. A transparent project will have a verifiable team and a convincing track record.

3. Be alert for suspicious signs related to fraudulent projects, such as promises of big profits that don't match the reality.

4. Ponzi schemes, or unreasonable requests for funds. If something like that happens then be careful.

A lot of times, projects that have evil intentions often copy the content of the whitepaper of a different and similar project that they are copying, and I've seen this myself. I remember, there was a project, probably a scam, that had a lot of similarities with another project that was released or started earlier, and upon checking, I found out that a lot of the content on their website and whitepaper are simply copy-pasted from the other project, word by word.

In such situations, a person who doesn't know about the other project would think it's a legit project because it has a very good whitepaper and very good content. However, if someone does a simple research using the content, they can easily find out about it. So, I always advise people to do a simple Google search with the content of the project's website and

well, basically they will do everything they can to attract the attention of investors. In fact, for scammers who are so intent on defrauding investors, they will create a really good project, and as you said, they will probably try to copy another project's whitepaper to make people feel that this is a good original project.
However, the solution in this case is to continuously carry out research, starting from the team, even to the community. Apart from that, don't forget to ask other people who are more experienced, or maybe ask on this forum.

Researching about project and team consist of finding what degree of work had been made on creation and planning of the project. A roadmap and plans to increase uses in future. A scam won't provide a detailed plan and it might be a copy of something else.
It's rare to find the details about the people behind a new project these days but of those that provide, it's easy to find more about those people on internet. Most of the scams have shady linkedin and twitter profile while popular real people are also covered in news (real ones).
The forum sure is a good place to see discussion but you won't find good gems early here as most new coin suggested are likely shill post. I look for listing on popular exchange and look for their utility, compare the alternatives and look when I might get a price deal on the projects as most of them pump at the initial listing.

Give an example (with data and facts) of a big scam that could open his eyes that not all projects have the same responsibility, because to this day many projects are slow to develop and abandoned also when the sale is closed. Sadly and this is still happening. cheap prices are not a guarantee and expensive prices cannot be identified as the best projects.

I myself read more tokenomics and Twitter (especially which followers managed to be mentioned and justified and I usually see active followers and not bots above 100,000 followers) or some people who have a big influence. Because if the developer is transparent with investors, nothing is covered and natural, of course it is more and reflects professionalism than the whitepaper and roadmap are brilliant but there is no care and interaction, of course it is the same nonsense, the project needs a community for marketing, and good involvement. and users need developers to consider what progress is being released.

All projects can plan as high as the sky but solidarity creates a wave of market gaps in the enthusiasm of new altcoins. Indeed, the final result is that no one knows about the scam or developing project, but the attitude that is seen should be able to reflect the character of the developer in running his project even though it is slowly.

Projects can failed to pump to the moon, after much money put behind to milk from the project, the false beliefs from other top influential men, what will happen to the one person that convince everyone to indulge in the project? The market comes with different projects, some tend to looks legit but deep down, they're one of these numerous scams in the system. We tend to apply safety in whatever activity we anticipate in because none of us would want to see the downfall of other colleagues in the market.

I believe one of the best things one can do while seeking for projects is to use the Blockchain explorer to check the distribution of the tokens or the coins among all the existing wallets, that helps to know whether the creators of the coin/token are whales who could easily dump the value of the token and run with much of the money.
Another thing I would like to point out is checking on the liquidity in decentralized exchanges, it is important to know whether it is possible to easily sell and purchase the token one wants to invest in, if there would be a way to verify the number of liquidity providers on the decentralized exchange it would be ideal, the more providers of liquidity, it becomes less likely for us to become a victim of a rug pull.

Also, checking on the team behind is project is advisable, but rarely the team of a project are willing to put their actual personal information out there for others to see, regardless their coin/token being legitimate, so sometimes this is not completely a deal-breaker.

its honestly easy avoiding rugpull just invest in a project that are invested by venture capitals and we can avoid rugpull really easily to be honest.
the thing is that some people are still fixated with random coin doing presale through dexes even more ridiculous meme coin doing presale, a meme coin was supposed to be for fun but some devs are just too money hungry to let that money grabbing chance missed so they did some presale, as a result the meme coin got rugpulled.
just stick with coin that are invested by venture capital they are definitely already thoroughly reviewed by the venture capital team and will definitely become bountiful investment in the future.
otherwise we will be having some unnecessary risk in the future if we dont just avoid those shady presale altogether.

These days, it is becoming more and more difficult identifying scams. These scammers have really up there game. Now, everything looks clean and near perfect and yet eventually turns out to be a scam.

Before investing in a new project, you must know about the project and you must have a general idea that you will invest immediately.  And Sabla wants to see it is not possible stupidity.  In any case if I ask you to notice some things you must follow the project's ICO and IEO and follow the project's website and the project's supply and security to see how it supplies and what the price is and see what kind of exchanger list.  It is better if it is a good quality exchange list.  And you must look like a safe and you must take care to keep it in messenger.

I think this has been done a lot, there are so many new projects out there created just to make a profit in a short time, then the project dies, and they create a new project again to do the same thing.
Why do you think this keeps happening?
because there are people out there who keep buying projects like this.

This is not just about giving tips of how we can know scam project because this can be very difficult to the newbies.
The more we stay in the market, the more we tend to understand the market. If we know what we are doing and are able to work with so many projects, with that we can know what project really worth our investment. This is why investors that had been in the market for long can always spot bad projects because they might have fallen victim to majority.

People lost their money in one scam project but they never realize the fact that there can also be same project which are newly generated project and they don't read about the project's whitepaper which is most important point for knowing about project.

Newbies do this thing most of the time and repeat the process again and again as a result of which they loss their money and also make the project trendy which become end when a slight negative news comes to hear. All new project are not scam and one can easily predict about the project by giving little timing to investigation and reading detail about the newly originated project.

Tip 1: wherever you hear or whichever project tells you that when you invest money with them, they’ll double it or triple it, run pretty far because that building will collapse. Additionally, if a project is being too sure of returns, you need to check them again and be very careful because the market is never certain and luring you to invest with assurance that you’ll get interests in no time can be deceitful.

Tip 2: check their socials and telegram community (if any), see how much people are also interested in them. Do people believe in them or just unnecessarily hyping them.

Be careful that if the new projects are doing bounty campaigns somewhere, then chance of the meaningless comments appearing are really high because somehow they just don't bring any organic comments to the thread and they just make a generic comments possible and hence why the team sometimes don't really like the result of those because of how bad the comments are.

I just don't bother to check the comments on social media, because it's just full of that. I only check the telegram and only the official announcements on twitter because I find it really reliable.

I don't really understand the situation at the moment but just remember when ICOs were very booming how many projects used fake names and photos to deceive their investors and also if he wasn't a well-known developer of course we couldn't know his actions in the crypto world and also see how some well-known developers actually make their projects cause losses to their investors so this cannot be used as a guarantee.

And I feel this is better because many members on this forum are honest in expressing their assessments about new projects except for newbies, I quite doubt it.

Another step that we can take is to continue to monitor developments or news about cryptocurrency, this will increase knowledge, including new forms of scams launched by developers or also potential projects that are scams because their fundamentals are very weak.

Yes that's right sir, I agree that trading is not a competition over whose predictions are the fastest to identify instantly, the solution step is to keep your footing even though you are still monitoring in an altcoin because you are increasingly recognizing charts with past conversions (maybe some time near the beginning of the listing) because trend events may repeat themselves. If anyone guesses so quickly on his full analysis in the future conditions are not the same because it needs such identification. Moreover, altcoins are so not too many visits if you are sure it is better to reduce the percentage of capital into several parts of the buying session. for me there is no need to force a long time as fanatical as anything on an altcoin because the goal is trading by utilizing existing market segments.

You know, along with the development of the crypto space, of course it would be more difficult to spot scam projects immediately. Even after thorough research, some of us could get scammed. Why? Because these criminals learn too, their scam trials develop too. It's not only us who get smarter; they're too. One thing is for sure: if they promised you good-to be true deals, then just leave them; it might be a Ponzy scheme. Another thing to minimize the risk is probably if the team is doxxed; although it's not always a green light, a thorough check in general is still needed.

Base on my little experience being a victim of scam, I invested my money and get lost at the end. The number one thing to check is the team behind the project and social media, like Twitter and telegram communication and finally Smart contract address of the holder and transaction recorded, at least with these few tips you're good to go by investing on the particular Coin you make research on.

Community speaks well about how far a project can go but this days, scam project go far to buy social accounts with many followers and use it for their project. They deceive people with the number of members they have on their socials especially on Telegram. If it's Twitter, check the numbers of people they are following, this may guide you to know if it's a purchased Twitter account. Scammers are becoming more expert everyday on their scam, so investors need to be very careful.

Sometimes the community can be the most deceiving, provoking you to make the wrong decision. Many projects use shillers in their early stages to show investors how active their community is when most of that activity is done by bot accounts. How strong a project is can be justified by seeing its team members and who is funding it. A project can be very good, but without proper marketing it won't be able to build a community. So funding from VC is also important to build a successful project.

Good thing to mention, however, you can figure it all out. An instance of how you can figure this out is checking how Instagram shows everyone your name change history. So if you buy an account in Instagram and change the name, it shows how many times you’ve changed the name so they are guided. I’m not sure if Twitter does the same, but you can do twitter audit which will tell you how many percent of the followers are real. Even the Twitter replies will be able to tell if people genuinely seek the project.

We can see whether it is a scam or not by their promises and their explanation about the project. It is not 100% accurate but at least it is a sign whether the project is a SCAM or not. I always look at how the development team promises whether it makes sense or not. Most projects are scams because they are looking for quick profits, they will make very tempting promises such as high interest. You can also see a presentation about their project whether it makes sense or sounds like an impossible ambition.

But if this is the only way you can determine then it’s kind of flawed because what if the project launches and give realistic but enticing offer in which they aren’t claiming to double the money but that you will make good gains (just about like every other project does). Your method isn’t bad but what I’m saying is that you should have different methods so even if one fails, another won’t.

Identifying a scam projects is difficult sometimes but there are great tips that can help anyone to identify them, if you want to identify scam projects you have to make a versed research on such project to know it's authenticity, when you are making this research meet friends that are into the business explain to them too, i know for sure that they will definitely have something to say, the longevity of the project should be ascertained too because must scam projects dont last up to one week, so this things should be considered before you fully decide to take part in any project.