How to find scam coins

[ppblockchain]

There are many many dozens of cryptos launching each and every month, and side by side that there are many new tokens come out of a series of Initial Coin Offering or ICOs. The desire among a wide pool of people who invest for these kinds of opportunities has grown so much, even despite the fact that cryptos have been shabby in 2018.

All of these elements unite to attract scammers. In the end, if investors have shown that they have the will to throw dollars toward a highly hypothetical crypto, they seem to invest in a crypto that might be fraudulent ICOs or tokens.

Read more : https://paperblockchain.com/how-to-find-scam-coins/

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[Vitamin_52]

it is difficult to recognize scammers, in 2019 I came across 3 such projects in which I invested. completely disappointed in the ICO. now I take part only in the IEO they have more confidence as the participation is on the stock exchange.

[leea-1334]

Blame the investors. They do not want to learn,,, say to them about profit and potential and they already have $$ signs in their eyes. You do not need to find scam coins. Assume they are all scams. It is the non-scam coin that is incredibly difficult to find,,, and those who can find it will not be shilling about it for sure.

[Stanlo]

Its really hard to find legit projects in crypto space today, 2018 was a bit better in terms of scam projects compare to 2019, its like scammers are in every corner of crypto in 2019 so i consider all new projects to be scam until i am able to detect that i was wrong, i have joined up to 40 different airdrops and only 7 are listed on exchanges, some turned scam and others stop working, same thing for bounties as well

[DaMut]

it is difficult to recognize scammers, in 2019 I came across 3 such projects in which I invested. completely disappointed in the ICO. now I take part only in the IEO they have more confidence as the participation is on the stock exchange.

That is true I even came across with 10 or so projects, I think the reason why they were not fulfilling their promises due to lack of fund and interest. I had done my research and found out they all were real, but they forced to stop their project because of that.
a business model needs initial fund to develop it if they failed to meet their minimum funding. It's not surprising to see them closing it, and from this point too I can tell that Luck is also an essential part that we need to have in crypto investment.

[masulum]

I want to add more and took points from your article

1. Know the team behind the coin
How to find team behind ICO? there is lot of tools we can se for image reserve. I mostly using few tools like google images and yandex images.

2. Read the whitepaper
Sometimes project has good white paper, but behind of good whitepaper they have, it from plagiarized WP. so, kindly check using plagiarism tools when you reading WP.

3. Look for unrealistic crypto claims
Correct, if someone saying if they can give 200% - 300% within a day or months of profits, it will 99.9999% ponzi or potentially scam, please wake up, no one can be rich overnight. Please, don't be fooled because you want higher profits. Even IEO will become a scam, so be careful.

4. Not being open-sourced
I don't know open source if really matter or not, because many projects open their codes for public, but sometimes I still find a project hiding their malicious program. Maybe for open source we need to check how many people join to audit. If there is any project with github account, but no one join, be careful, please scan file after download before you are installing it.

Btw, you are making good articles. keep it up

[NathanJB]

it is difficult to recognize scammers, in 2019 I came across 3 such projects in which I invested. completely disappointed in the ICO. now I take part only in the IEO they have more confidence as the participation is on the stock exchange.

That is true I even came across with 10 or so projects, I think the reason why they were not fulfilling their promises due to lack of fund and interest. I had done my research and found out they all were real, but they forced to stop their project because of that.
a business model needs initial fund to develop it if they failed to meet their minimum funding. It's not surprising to see them closing it, and from this point too I can tell that Luck is also an essential part that we need to have in crypto investment.

Crush out luck. This is not some kind of lottery or gambling. Cryptocurrency is full of scams but that does not mean that there are no good ones. However, it will not be coming for you. You will search for them. It is hard but there is no other way. It takes a lot of hard work to find the gem among a mountain of stones. You will need to carefully read the whitepaper, study them even. Aside from that, you will need to do a little investigation of the persons that make up the development team. Do not just take their website profiles as truth. Many of them are using fake pictures, bogus names, made-up experiences, etc. You need to search for them one by one. You also need to contact them with your questions and doubts about their project. These are just some of the necessary steps to do before safely investing in an ICO.

[masterrex]

There are many many dozens of cryptos launching each and every month, and side by side that there are many new tokens come out of a series of Initial Coin Offering or ICOs. The desire among a wide pool of people who invest for these kinds of opportunities has grown so much, even despite the fact that cryptos have been shabby in 2018.

All of these elements unite to attract scammers. In the end, if investors have shown that they have the will to throw dollars toward a highly hypothetical crypto, they seem to invest in a crypto that might be fraudulent ICOs or tokens.

Read more : https://paperblockchain.com/how-to-find-scam-coins/

Good and useful suggestions but besides of that numerous suggestion and ideas still we cant be sure what projects will be turn into scam nowadays! Because sometimes those so called scammers were also look's like a legit one, and after the intended time and also the raised funds was enough already to feed their greed it will gone with the wind including our hard earned money. that was base on my personal experience during 2018 when i was investing in ICO the project was looking good,transparent, detailed whitepaper verifiable team but suddenly it will vanished away.

[Hamzaal24]

I believe introducing new ICO is just like lunching new business. Business can collapse because of miscalculation. So same things might happen with Ico's. Not all project are scams some project dye due to miscalculations. But Investor should analysis market trend completely. Checking team and Whitepaper is good but a person should visit trusted site check project rating and remarks. This should surely help you to find scam coins.

[skarais]

It is clear that many investors feel disappointed because they lost investment.  It is difficult to determine whether ICO has great potential or not.  There are only a few ICOs that are really good and can be developed.
The last ICO that seemed successful and I participated in was MiracleTele.  But finally destroyed after they managed to get success.  Investors are disappointed and now look like trash at very cheap prices.

[TheUltraElite]

Its really hard to find legit projects in crypto space today, 2018 was a bit better in terms of scam projects compare to 2019, its like scammers are in every corner of crypto in 2019 so i consider all new projects to be scam until i am able to detect that i was wrong, i have joined up to 40 different airdrops and only 7 are listed on exchanges, some turned scam and others stop working, same thing for bounties as well

Honestly speaking if you compare 2018 or 2017, there was no dearth of scam projects. There have always been projects that turned scam or sold off to another company leaving investors at loss and projects that were pump and dump to sell off at a profit for the owners.

What matters is not the time of bull or bear market but the lack of knowledge and ignorance of the investors who take part and promote these projects. Some are there knowing that it will be a loss, they are just cashing in the big bull pump and are going to sell off then, other enthusiastic investors are the biggest losers here, because they hope of a big project recognition will make them lose.

[tenakha]

In order to find scam projects you need to know how good projects are. Each of the projects is different and I can not list the standard ways to find them. But if you get enough experience with a nonscam project, you will not have any trouble finding scammers. Also always read the project's whitepaper carefully, search the team thoroughly, and look for the scam accusation section here.

[badykvik]

My sincere apology if I have a contrary opinion about this because I belief there is no way we can detect a scam coin or project.
My reason is that, these set of bad elements also read and update themselves in their game and knows all the pitfalls
Your article is great and serves as a guide but there are some superstar scammers that will convince even the pros.
I like to follow my instinct in determining a scam coin.

[Mighty_crypt]

There are many many dozens of cryptos launching each and every month, and side by side that there are many new tokens come out of a series of Initial Coin Offering or ICOs. The desire among a wide pool of people who invest for these kinds of opportunities has grown so much, even despite the fact that cryptos have been shabby in 2018.

All of these elements unite to attract scammers. In the end, if investors have shown that they have the will to throw dollars toward a highly hypothetical crypto, they seem to invest in a crypto that might be fraudulent ICOs or tokens.

Read more : https://paperblockchain.com/how-to-find-scam-coins/

There is better way of detecting scam projects than doing research on the projects but some few scam projects will successfully scam people because they are near perfectly made, they leave no trace of doubts and they keep projects development alive for a long time enough to deceive people

[Doranile432]

Scam projects have grades, some will just take you few research to spot them and some you will never know that they are scam until they turned scam, the best way to avoid wasting time doing heavy research is binance exchange, invest in projects from binance because binance have already did the half work for you, they have a serious reputation to keep alive

[jake zyrus]

As cryptocurrency increases it's adoption, it's really inevitable for a various coins to pop up. Scams are also increasing which is a pity for everyone. We cannot stop them, so it's better to prevent ourselves from being a victim. Actually the link you gave is a good article. It is well explained and can really be helpful to investors.

[Battareus]

Scams are everywhere. What if I don’t want to look for scams and want find projects that have been working for many years, but the developers of these projects don’t have enough money to realize all their ideas?

[DaMut]

Crush out luck. This is not some kind of lottery or gambling. Cryptocurrency is full of scams but that does not mean that there are no good ones. However, it will not be coming for you. You will search for them. It is hard but there is no other way. It takes a lot of hard work to find the gem among a mountain of stones. You will need to carefully read the whitepaper, study them even. Aside from that, you will need to do a little investigation of the persons that make up the development team. Do not just take their website profiles as truth. Many of them are using fake pictures, bogus names, made-up experiences, etc. You need to search for them one by one. You also need to contact them with your questions and doubts about their project. These are just some of the necessary steps to do before safely investing in an ICO.

Indeed this is not kind of gamble, but that was the truth. I have been doing research about some ICOs before, all of them were real. With real people, real company.
I have invested in some kind of trading bot based company, they have their experts and license. 3 months after the ICO concluded, they closed their company and refund the money because they were not able to develop it because of lack of demand and problem with their partnership. On the other hand, I invested in an unknown project and survived until now.
The first one is a quite reputable company while the other one is just so-so but survive. If it is not luck then what?

[brightemo]

Good variant to avoid scam - use trustworthy IEO

[HatakeKakashi]

it is difficult to recognize scammers, in 2019 I came across 3 such projects in which I invested. completely disappointed in the ICO. now I take part only in the IEO they have more confidence as the participation is on the stock exchange.

Scammer are really smart to hide their real puporse. Good to see that you transfer now to IEO now because big chance for your money will grow than the ICO who among of them are failed or it is scam or the hardest part you will wait for nothinf because they did not list the coin and the investors given the hope . IEO now is the alternative way and ICO is not good anymore it can cause only your money to gone.