How would we know which cryptocurrency would be Scam?

[shushmita321]

i don't think there are many scam cryptocurrencies, at least not that I am aware of. But still you should read the white paper, learn about their team and do a little background check. You will find out whether its scam or not.

[winterland]

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?

The only risk free method of not being scammed when selecting a coin is to only buy bitcoin and no other coin if you do that you will not have any chances to get scammed, the moment you choose to invest in an altcoin your risk goes higher, but if you insist to do it take the time to read their entire ANN thread, I know that will take a lot of time but you will see a lot of information about what people tought about the coin at the time.

[PX-Z]

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?

Identifying a legit or scam project is really hard, but there some other ways that might help you to lessen the risk in investing in ICO's. Like reviewing of there whitepaper if they really have a project that is having a great potential and can be useful to its owner, and identifying the members behind the team if they are really credible members and not fabricated only.

[goaldigger]

So lets say we have 1500+ candies in a jar, all has the same sizes but different flavors and manufactured by only one company. You doesnt even know which candies has a factory defect unless you unwrap it or guess by its deformity. Just like knowing what are scams on the ICO. All has same nature but different purpose. Some can tell by what listed on the ANN thread or whitepaper and is obviously seen. Some just pops up when you are already investing in it.

[Rana590]

If you new on crypto currency, you can't understand which is real and which is scam. For this, you should need deep analysis. You can check their social media, roadmap, team and how potential the project is.

[South Park]

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?

There is not really a way to know for sure, if you do not want to take the risk you can invest in coins that have been around for a long time and that have a good reputation in the forum, but if you want to invest in icos then you need to accept the fact that a majority of them are going to be scams and even the projects that are not scams are not going to give profits in this difficult market.

[hajimasan]

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?

We can't say with surity that which one is legitimate and which one is not , because if you will make money in any project then you will say that , that project is better and guinine , regardless of the factor whether the project is legitimate or not .
So don't think any cryptourrency as a scam .
You need to see that how the project is working and at what condition is , I mean if any coin is launched at the exchange and market is better , but still actual coin is not made , then still we have better chances to make money by the fluctuating market , and in that case all depends upon us that how we are handling that market to make profit and loss with our trading strategy .
At the another side there are chances that even a real coin that is listed at the exchange get dumped badly ( by owner or any group of pump and dump ) then you will say that coin is scam only .
So all depends upon us and the result of the market of that Cryptourrency , nothing is sure .

[dams87]

to know a project it is scam or not it is kind of hard to predict, I never follow a bounty with a good rating, but at the end of the Ico they don't pay but also never thought that bounty scam but ultimately pay. so my advice don't be afraid to try if it fails then we try again.

[MascharonoM]

to know a project it is scam or not it is kind of hard to predict, I never follow a bounty with a good rating, but at the end of the Ico they don't pay but also never thought that bounty scam but ultimately pay. so my advice don't be afraid to try if it fails then we try again.

As far as I know white paper helps to get the idea about the project. I have been with a proejct for few months @SciDex. How is this one?

[KingdomHearts]

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?

Instead of you searching for a way to avoid cryptocurrencies that are scam, won’t it be even better when you only go for the top twenty coins? Yes there are lots of cryptocurrencies, but there are already the top cryptocurrencies with good reputation, and they are also well known just like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and a lot more of them. So go for these instead going for new coins you know nothing about since you don’t know how to identify cryptocurrencies that are scam.

[aliichaudhary]

If the cryptocurrency gone with no reason and lost its value in instant. And its probably fake.

[Kirito-kun]

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?

Before it become a coin it became an ICO once so before make an investment on those ICOs you should know first the background of the developers and check if they could able to reach their softcap and even the hardcap. It's hard to tell if it is scam or not but you should take the risk otherwise, there will be no profit for you.

[joey alexander]

Here below I have stated a few red flag detection techniques and what you need to do before investing in any project for preventing getting scammed. if you are knowledgeable and have experience and then you are investing, it is harder to trick you but if you’re just new, if you’re just starting out you might become a victim. You would be vulnerable to scams just because you lack all the knowledge that you need in order to be more prepared and it is natural that everyone has been a new person in the field at one point in time but it is important to educate yourself.

Anonymous Team 
Vague Whitepaper
Too Small or Inactive Community
No GitHub Activity or Project Activities Updates 

So I hope you learn something I hope you now have a better feeling for what is a good project what is a bad project and I hope you are more aware and know how to check a project for red flags. It’s all about awareness, it’s all about knowledge it’s all about being as careful as possible.

[SubZer0]

i always go for team i always try to find out exactly who is behind the certain project that you are interested in and always try to find out the company behind the project and always try to find out the address of the company because if they are transparent they should share their address, are they afraid to share the address? Also the names I want to know exactly who the CEO is, who the CTO is, and so on.And so forth there is no reason to not share the names, also sometimes I try to reach out to the team and try to get on skype or on telegram and try to talk directly to the founders because it is one thing to read about the project on their website, to read on the whole marketing effort they’re making and to get the information from there and it’s a whole other thing to talk to the founders to talk to the founders directly about the same things that are said in the marketing websites or on the white paper and so on and so forth but you get a whole different perspective when you hear it from the founders.So you can develop your own gut feeling when you have your conversation with the team members. Try to compare the stuff written in the whitepaper to the stuff they talk to you, you maybe be able to find points which were exaggerated for marketing purpose or points they were hiding from people.

[tiurminator]

Very interesting, research and research is the key.  There are always a chance that whitepaper, road maps, team and others is made up to make it look legit.  I think a little bit of luck maybe important.

[Ayston]

Since everyone is not an expert in looking to documents and every can't say something is wrong with the project by reading the paper alone but try to search on feedback's on this projects before joining, it will help you a little.

[Activitycoin]

If the cryptocurrency gone with no reason and lost its value in instant. And its probably fake.

Waiting till then will lose your money so I think I is good for us to know before we invest, now internet is there which we can use to explore the digital currency, almost every coin is at the high price but we should buy only those which has lower price cause buying at the low price ad hold to make it high is the best way of getting profit, there are a lot of fake coins so instead of trusting all of them better chose only bitcoin you will feel really safe using it,

[pinoyden]

Since everyone is not an expert in looking to documents and every can't say something is wrong with the project by reading the paper alone but try to search on feedback's on this projects before joining, it will help you a little.

yeah right. not all are blessesd with knowledge to understand on what is actually written on their documents . i myself do also check on the feedback rather than reading their whitepapers because it is more easier and takes less time . yet , keep in mind that there are now feedbacks that is fake because they are only being bought . 

You need to also identify it before you finally decide to believe them.

[UniQue7]

Just google it bro, there shouldn't be a problem if you put the right keywords for it.

[jakedeez]

In order not to get caught in a network of scammers you need to be very careful and pay attention to some signs that will indicate to you the fake cryptocurrency. Better, to begin with, buy bitcoin in a small amount, besides the price of bitcoin is constantly growing, which will allow you to make good money.