How to Identify Cryptocurrency Scams

[Zeke_23]

Just checking with telegram channel group because there are many member of bounty and ICO investor, we know with scam bounty campaign or ICO investment with thousand respond about this campaign and ICO, many investor will said true about what his investment and have check with team, owner look real or fake, just check few hours you will know about bounty or ICO is scam or not.

You can also validate if the team is real maybe they are just using fake identities to gather investors. Nowadays checking for the popularity of the project is not enough just like before, you really have to see if the project itself is possible to conquer crypto world where they can be another crytpto that will be the topic of many crypto websites.

[Winderer]

No inovations, no great team, no support from community = no deposits

[crossabdd]

for me is simple, I only rely on general information. if that doesn't meet, I'll consider it a scam, here's the criteria that I hold:
1. check the web and roadmap
2. Check sales or progress
3. what is the value of the coin
4. check social media
5. Check the telegram / discord
6. check the ICO / IEO list
7. check the market
8. check out Coinmarketcap.
if all is crowded, I consider it not or not yet a scam. if some are not updated. I assume is a scam.

[AjithBtc]

You can identify with scam crypto with low trusted of investor with this altcoin, many altcoin although success on listing with big exchange market after faced problem by owner and government regulation at their country will make price down and become scam altcoin, you have sell before price dump and altcoin delist from exchange market.

That is a possible way, but this too gets overcome by scammers giving perfection. Identifying scams is really a big task, it needs more learning, even the experts fail at times. This is all because of the project outline and the way it is taken forward. I go with projects that give regular updates through all possible means and the participation of the senior team people on different conferences and meetings conducted worldwide having relation with cryptocurrency market.

[kayvie]

You can identify with scam crypto with low trusted of investor with this altcoin, many altcoin although success on listing with big exchange market after faced problem by owner and government regulation at their country will make price down and become scam altcoin, you have sell before price dump and altcoin delist from exchange market.

That is a possible way, but this too gets overcome by scammers giving perfection. Identifying scams is really a big task, it needs more learning, even the experts fail at times. This is all because of the project outline and the way it is taken forward. I go with projects that give regular updates through all possible means and the participation of the senior team people on different conferences and meetings conducted worldwide having relation with cryptocurrency market.

It also need further investigation to determine if a project is scam or not.
Most of the projects are building a solid platform to hide their true intention, they will do everything to gather investors and they will build a community to support the project.

[gandame]

Hey, this recently published article on how to avoid risky investments and spot frauds mentions our forum 

Link: https://medium.com/@Peter_UXer/how-to-identify-cryptocurrency-scams-813c32816ddf?source=friends_link&sk=da150ce8128c348da4b0dfdbf57e8e12

You gonna search   if the projects are scam or frauds so that you can know if this a legit. Search not only once search it very well and join to there group. If theres alot of investor that project are good.

[Genemind]

Good article that would be helpful to identify if a project is a scam or not. That's the reason why we have to do a series of research before joining a certain project. Investors would do everything to attract and gain every user's attention. Their social media and the developers behind is an important factor that would help us know if we're on the right track.

[xSkylarx]

Hey, this recently published article on how to avoid risky investments and spot frauds mentions our forum  

Link: https://medium.com/@Peter_UXer/how-to-identify-cryptocurrency-scams-813c32816ddf?source=friends_link&sk=da150ce8128c348da4b0dfdbf57e8e12

You gonna search   if the projects are scam or frauds so that you can know if this a legit. Search not only once search it very well and join to there group. If theres alot of investor that project are good.

Many investors in a certain project doesn't indicate it is a good project. I've saw many projects that they accumulated millions of dollars but in the end they disappear suddenly leaving their investors in a big disappointment. Cryptocurrency is now booming and scams are growing as well. Best thing to do is only invest on those who are really popular and in the top spot of coinmarketcap like eth, ltc, eos, xrp and so on. That will guarantee you a good profit for long term as they have real use-case for their projects.

[jaocoincrypto18]

for me is simple, I only rely on general information. if that doesn't meet, I'll consider it a scam, here's the criteria that I hold:
1. check the web and roadmap
2. Check sales or progress
3. what is the value of the coin
4. check social media
5. Check the telegram / discord
6. check the ICO / IEO list
7. check the market
8. check out Coinmarketcap.
if all is crowded, I consider it not or not yet a scam. if some are not updated. I assume is a scam.

Actually, it is difficult to determine the scam projects nowadays that even you carefully follow the above suggestions but still many are become victim of scam like the Centra tech project that even its used Mayweather for promotion and unlock it in the exchanges but still it become a scam project in the end. Therefore i think the government should upgrade the existing regulations because of these scams that can managed to penetrate the market.

[bitbunnny]

The first rule you need to remember is that something sounds too good to be true it probably isn't. So this should be the first allert for you.
If anything at all looks suspicious you should make some checks, some guidlines are already mentioned here. Double check every information you get and if the smallest thing doesn't seem to be right, don't get involved.

[Cointrade247]

Hey, this recently published article on how to avoid risky investments and spot frauds mentions our forum 

Link: https://medium.com/@Peter_UXer/how-to-identify-cryptocurrency-scams-813c32816ddf?source=friends_link&sk=da150ce8128c348da4b0dfdbf57e8e12

Well written article, you have done a great job by trying to safeguard the reputation of cryptocurrency as many individual that have be scammed has seen bitcoin/cryptocurrency as a scamming medium. The rate of scammer around crypto world are now taking unpleasant and it need ultimate action to put an end to this, in other to safeguard the newbies on cryptocurrency not to fall in the hands of this weakened Scammers, let try and published article about this scammer and report anyone that come your way to end this unsafely internet and social media usage. please before you invest make sure all necessary verifications are done, don't invest on personal project, always try to make you verified the teams and at least 2-3 of them should be well know person... 

[crazyspaceman]

Is there a website which marks projects which are probably related to scam? Thanks for help!

[Tonteus]

Scammers often do not even try to hide now, so it will be easy for an intelligent person to determine who is a scammer and who is not

[Astvile]

Identifying cryptocurrency scam icos and many more is easy and hard at the same. Yes, it is actually quite easy to identify a scam project by just looking at the board members of the project, its supporters and backers. But at the same time, it is hard because sometimes fake Infos are posted just to trick users from investing and that's the hardest part identifying if those people are real.

[nutella_11]

There are a lot of scams in this cryptocurrency world. Safety is my priority so I recommend to buy Bitcoin ONLY on the reliable cryptocurrency exchanges (like for example CoinDeal, Kraken or Coinbase), this is the most important rule for me. It's good to verify the information which is said on the internet. do not trust everyone.

[putukin]

Identifying cryptocurrency scam icos and many more is easy and hard at the same. Yes, it is actually quite easy to identify a scam project by just looking at the board members of the project, its supporters and backers. But at the same time, it is hard because sometimes fake Infos are posted just to trick users from investing and that's the hardest part identifying if those people are real.

I know cases when a trusted advisor is in the composition of project members, who, as a result, also becomes a victim of a scam. It is best to interact with projects of the superhigh level of trust for example TELEGRAM or IPOs of large exchanges like Bitfinex, Binance and so on.

[Edraket31]

Identifying cryptocurrency scam icos and many more is easy and hard at the same. Yes, it is actually quite easy to identify a scam project by just looking at the board members of the project, its supporters and backers. But at the same time, it is hard because sometimes fake Infos are posted just to trick users from investing and that's the hardest part identifying if those people are real.

I know cases when a trusted advisor is in the composition of project members, who, as a result, also becomes a victim of a scam. It is best to interact with projects of the superhigh level of trust for example TELEGRAM or IPOs of large exchanges like Bitfinex, Binance and so on.

I don't trust advisors, they are also asking for money just to write good review, I have some crypto projects who has a lot of advisors but they all asked for money too, they don't even check if a certain project is good or not, they are just after if their fee can be afford by the project before they will write reviews.

But, still there are some high reputable advisors who just don't after the money, but making sure the project is legit.

[SiDtHeBeSt]

This article is a must-have for every crypto or non-crypto newbie.

Agreed. But actually all these things are so simple that even a child can guess them before investing.

Simple yet so many people fall for these scams. You seem to be a new member here unless this is your alt account, I have been on this forum for quite a long time and have seen people falling for such scams posted by new accounts, campaigns that don't have any escrows and other similar stuff.

[surya67]

My knowledge in identifying ICO scams is not very expert, for that a clue or article on how to avoid investments that are at risk of fraud is needed especially for those who are new to join in investment in crypto, but before investing there is a good thing we have to keep doing various analyzes from any source regarding a project, be it in the social media community, telegram or from the crypto forum community. The point is we must always be on guard and alert to any fraud

That's absolutely right, but the direction of the ICO trend has been decreasing since there was IEO. Strict regulations and also the market used for IEO, have made investors return by buying

[asus09]

Scam project can identify with transparent team or owner, many team use fake data for their website get many investor to buy with their coins. Not according the road map we can identify cryptocurrency is look not good and have potential become scam, we can get not according road map after success ICO how long they listed coin on the exchange market and which one exchange market become destination for lsting.