How would we know which cryptocurrency would be Scam?

[Lucas Riley]

I think there are a few steps you can follow that will reduce the risk of you investing in low quality projects. Look up the project on GitHub. Does it have an active community of developers? How engaged is the team when it comes to dealing with issues. A good place to start with that would be on this forum. All the major projects engage with their protocol users on this forum and you can have active engagement with them. What's the token issuance structure like as well? As in what proportion of the money raised goes to the team and how will that be released? If they take up an extremely large proportion and these are not released in incriminates then what will incentivise them to work hard after they receive the funds?

[Marcel666]

Research on the three 'P's;
People,
Process and,
Product.
Who makes up the team? Are the credible managers?

How efficient is their strategy? If the ICO has too many gaps you should scrutinize further.

And what is their working product? Is it unique enough toto be invested in?

[Findingnemo]

I am a newcomer, so I am very anxious in choosing projects because I am afraid that electronic money may be Scam. My friend shared, the choice of project to avoid Scam needs to be alert and feel with his experience. Depending on the content of the project, the participants of the project are transparent and reputable. There are many other factors, but empirical reasoning is very important.
Remember, most projects are phishing.

Everything is under hope and faith so we don’t know what happens next but the experience will teach a lot to make some good decisions and also gives some good vibes to us.

[jayyen]

The only way we can differentiate legit cryptocurrency from a scam is by reading more about the project and the integrity of the team behind such project.Because it is very painful to waste your time and other resources on a project that is not paying.We should always do a background check well before trusting a particular coin.

[mybloomingpath]

I'm not an expert but I'm trying to consider the main and simple points: what exactly will solve definite cryptocurrency, where it will be used, how and by whom. If I see that it this currency is really something interesting I'm getting involed deeply and again continue learning.

[mikeywith]

depends on how you define SCAM.

my definition for SCAM in crypto coins is a road-map that can't be met !.

most coins have a GREAT road-map where they claim really amazing things to happen!. so people invest in that coin based on that. only to realize after a while that non of the so called plans worked out. and the worst part is when the devs themselves know they can't achieve their road-map so the dump their coins before others do leaving everybody else with BAGS!



to stay safe, only invest in TOP coins. less reward yet less risk.

[Thian778]

You don't need to check all the crypto to find out what is ordinary stone, from diamonds, from gems, from nickle, from platinum since they are all mixed up in this muddy society, you need to be flexible in choosing and bargaining if you find crypto that is worth a small diamond then use it to gain, if you purchase a lot of ordinary stone then just leave it alone put it aside and keep trading, no need to waste time looking for scams.

[Blockfolioz]

I've received several pm stating that they have started their ico, and invite us to be a part of the network. They never have a Ann thread and other sources. With this don't fall without proper research, because once lost is lost forever with cryptocurrency. Getting caught into the hands of scammers will result in initiation of negative thoughts among the users.

[NeoTech42]

Fake team, fake advisors, no MVP, lots of marketing.

[richardsNY]

I've received several pm stating that they have started their ico, and invite us to be a part of the network. They never have a Ann thread and other sources. With this don't fall without proper research, because once lost is lost forever with cryptocurrency. Getting caught into the hands of scammers will result in initiation of negative thoughts among the users.

I think everyone here has been dealing with these PM's, but the only thing that you can do in this case is report them from where the accounts sending these PM's will likely end up getting nuked. Important for people to understand is the fact that the harder an ICO or project tries to advertise itself, and especially when it comes to spamming links and people's inboxes, the less trustworthy it is. Proper ICO's and projects only stick to more basic forms of marketing, where after that people themselves will spread the word, and that effect is something doing the work for you as project.

[henmark]

Quite a nice topic…. But don’t you think it’s better for you to focus on cryptocurrencies with a good reputation online already, instead jumping into new and unstable platforms and looking for ways to know which one of them is scam or not? This is practically a waste of time, cause you should have used those times wasted as opportunity to invest on other good coins and make a lot of profit.

[bncbnc]

I'm not an expert but I'm trying to consider the main and simple points: what exactly will solve definite cryptocurrency, where it will be used, how and by whom. If I see that it this currency is really something interesting I'm getting involed deeply and again continue learning.

In fact is is not possible for the inexperienced people to know that which coin or ICO is going to be fake and scam. For that you need a regular study and must know the expert opinion, who have passed such a long time in the market, and who have good experience and studying the market regularly. i think that using internet you can also get good information about ICOs and coins.

[Sihab76]

Very much good question. Really many cryptocurrency is scam and we face frustrated. Have any method to identity scam project??

[ArkiCrypto]

Actually sometimes you can't tell whether a project/ICO is a scam because most of the professional scammers are opening a project that looks professional, all the informations and whitepapers are perfect as well as other parts of the projects including social medias, ann thread as well as the community.

Well if you're about to invest into a project you should be aware about the risk you're about to face. Such as a scam or whatever so we should be responsible in every investment actions we're about to do and we should be doing a deep research about the teams background, the projects and we should not be afraid to ask about other stuffs to their representatives.

[jeepuerit]

As of now there are 1500+ cryptocurrency exists in the world.
Many dead many rising and many has to come.
So how can i know the currency  ,where i am putting my money is not a part of scam?
Or is there any other way so we can check about respected crypto might be it'll work?

For me to know that cryptocurrency is a scam or not, I'm looking at it first if it has a roadmap and whitepaper, but in that sense when there is no scam, because we do not know if a cryptocurrency is a scam or not , if we want to invest it's better to see if there is a coinmarketcap or nothing else.

[nabinkhadka]

If there is a project that's says pays you a lot in return it's likely that it's a scam. something unreasonably good and better looking payouts are initial sign of scams. 

[Nhor1011]

As of now there are 1500+ cryptocurrency exists in the world.
Many dead many rising and many has to come.
So how can i know the currency  ,where i am putting my money is not a part of scam?
Or is there any other way so we can check about respected crypto might be it'll work?

   i think there is no cryptocurrency  scam but only the one who make the coins sometimes are scammer. yes,there so many coins in the crypto market but not all of them are successful to grow in several years. Other coins are just use to raise funds after that they don't care about the coins if it will continue to grow or not,that's why it become dead coins after a years because there are no more demands. There are also a lot of good coins that has a potential to grow because of it's uses like bitcoin,ethereum and others. That coins are already tested,even a lot of dumps they still rising. That coins are already trusted by many people and has a great value and popularity. So,go to bitcoin and ethereum if you want to invest in secured coins. If you want other coins then you need to study those coins if it has a potential to grow in the market even how many years will pass by.

[Easzjohn]

There are many things you are suposed to check
Check if the team disclose their identity, check their btt account and LinkedIn account,  check token metrics and their project if its achievable

[Ronztimz]

(1) Read the white paper (focus on their economic model)
(2) check the founders
(3) check the website.

You can use an a-priori probability of ~97% that you are looking into a scam/unprofessional garbage. So only if you have been amazed by the above mentioned 3 topics and have no doubts whatsoever, there is some chance that you are looking into something worth more than nothing.

[rama666]

In fact, the ICO level is even the easiest time to flag down a project that is a scam or not. One thing I always say to people is that if your mind is not comfortable with the project and you are seeing the investment you are about to do as a gamble, then do not gamble it.
You can just wait for the project to hit the market, see how it fairs, which is if you have the desire to still want to hold. The team that has worked on a project before and have an old profile with some reputations on linkedin cannot be compared to a team that just opened a professional account.