How to find scam coins

[Kupid002]

Here is the good example of scam project https://bitcointalk.org/index.php?topic=5188130.msg52575229#msg52575229

If you check it you will see that they use fake team just to start an ICO.

Many thanks to forum members helping us to reveal those fake scam ICO. Its really hard to find scam project at the start but with the help of each member we can  see it early.

[1713861316]

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[1713861316]

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[BRODIN]

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.

This has been taking badly from previous years, and now it's hindering lot of investors who avoided themselves in getting into crypto. Scammers will only be detected once the project was launced, sadly the ICO token listed has no definite trading value.

even very few ICO tokens are listed on the exchange, most of them do not yet have an exchange to trade. I think 2018 and 2019 are not good years for ICO projects or fundraising methods for projects. IEO is currently more profitable

[dirgayeah]

Do you have 4 strong point from your article. and Interested with this both.

1. Know the team behind the coin

this is was same way for me when trying to investigate the project team. most of project nowadays are using fake name and photo for their team. and the stupid things when they using fake facebook account for their evangelist or angel investor and try to made us believe 

2. Read the Whitepaper.

bdw I'm Indonesian Translator, so of course, I must check their whitepaper as well for investigation. we should be careful with this point, due some of their concepts are irrational for using blockchain. and as investor/bounty hunter, we must be more experts to analyze this part.

[attech21]

Most of us didn't how to find or look or see a scammed coins but we have the basics to determine it like knowing the team behind the coin or the team that created the group and produces the coin. If thier was a spreedsheet so there must be also a whitepaper to see if the coin was true.

[asdalani]

Hi!
Thanks for information!

I like the information too. I hope that there is more guides on finding scams.

[quierx16]

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.

Not really hard for me if you are just not lazy to do some research about the project before investing and not just invest because they show you digits that you can earn.

It is important that when you invest in a project you trust it 100% because if not then you have a doubt about that project and you will only have a doubt because you see something wrong about the project then just ignore it.


"its better to waste time on researching than to waste money on a scam project."

[jcarlo]

now there are lots of new projects or new coins being launched and you can check them out, it's easy to find or see a scam coin, before investing better check all the details of the project and the team that works behind it. as has been explained by people here that it is the best way to find scam coins so bounty hunters or the investors are not fooled.

Sometimes scam projects have very good details such as convincing whitepapers or have a good website appearance. It's hard to distinguish a scam project unless we know the details about the developer team. Many scam projects were revealed because the developer team listed was someone else's photo

[Menawi12]

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.

Not really hard for me if you are just not lazy to do some research about the project before investing and not just invest because they show you digits that you can earn.

It is important that when you invest in a project you trust it 100% because if not then you have a doubt about that project and you will only have a doubt because you see something wrong about the project then just ignore it.


"its better to waste time on researching than to waste money on a scam project."

It's better to do research before investing. If we don't want to do research, more we invest in tokens or coins that have already been traded on the market and in my opinion this is one of the safe choices as long as we invest in coins that already have a product.

[lobat999]

I would like to share my previous post that could be used as a checklist in determining if a coin is scam or not. I hope it will be of useful reference to other crypto enthusiasts. Please see the checklist below.

1. Does it have a sound business plan and original and not a copy paste idea?
2. Does it already have an MVP?
3. Does it have a Github repository already?
4. Do the development team are capable in delivering the product?
5. Does the team's identities verifiable or have been verified?
6. Does it have a realistic roadmap?
7. Does the team give utmost importance to their promises and perform deliverables?
8. Does the project exercise more transparency on project related matters?
9. Does the project's tokenomics been distributed fairly?
10. Does the project have positive peer reviews among trustworthy members of the community?

[Ridwan Fauzi]

Earn money through cryptocurrency is not an easy way as most everyone thinking especially newcomers, yeah I'll say just newcomers who end up in lost their all of money when decided to invest in cryptocurrency. The reason is simple, they just pick an altcoin who suggested by someone else but they didn't know the token/coin itself.

It seems like they just take a decision by hype and an emotional which should not be done to become an investor. But, they deserve to accept this situation in order to they are aware that become an investor must have a knowledge about it. There is a bunch of article such as you mentioned and indeed it should be used as an elementary knowledge for them.

[Thefrolly]

There are really no specific guidelines towards finding scam coins. Basically, there are just a few tips and tricks people tend to follow to help them what coin is safe to invest and what coin is not, and mostly scam. Research and knowledge are two weapons to equip yourself with in order not to fall for the scam coins.

[bassbity]

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.

Not really hard for me if you are just not lazy to do some research about the project before investing and not just invest because they show you digits that you can earn.

It is important that when you invest in a project you trust it 100% because if not then you have a doubt about that project and you will only have a doubt because you see something wrong about the project then just ignore it.


"its better to waste time on researching than to waste money on a scam project."

It's better to do research before investing. If we don't want to do research, more we invest in tokens or coins that have already been traded on the market and in my opinion this is one of the safe choices as long as we invest in coins that already have a product.

I choose investment always researching in the future product development if they have a lot of products in my interest will I invest there? but if the team just always promises but there is no evidence I always stay the project.

[Roidz]

Many investors who want to profit in investing in an ico or ieo project at this time, but not infrequently they are instead trapped in an ico project that is indeed a scam because it is limited knowledge in assessing a project is a scam or not. In choosing a real project, of course we must look at various factors such as  

1. Team,
A company can walk and develop with a reliable team. The success of a coin is not young, much will depend on the experience, expertise, and teamwork in the team.
2. Roadmap / project target.
The Roadmap will usually announce targets and missions that will carry out usually quarterly and will notify interested people by:

• Product in progress.

• Product to be issued.

• Presale and sale to the public.

Investors  don't believe if lookout for a roadmap that is “too good to be true” because usually, it's a trick to cheat.
3. Whitepaper.
The whitepaper will inform investors about the Coin in detail from the mission, the team, to the technology to be used, Whitepaper can also be seen as a “proposal” of the coin for ICO to investors. False companies usually either do not have a Whitepaper because they are not professional enough to make an ordinary Whitepaper, or the company cannot describe their company, vision, mission and ideas in a reasonable manner.
That's a little knowledge for us to be able to avoid project scams in investing in ico or ieo.[/list][/list][/list]

[Xardasim]

Since scammers do not use the same trick to scam indicates that there are no standard ways to find them. I recommend follow the scam accusation section at all times, be sure it will add more information.

Here is the good example of scam project https://bitcointalk.org/index.php?topic=5188130.msg52575229#msg52575229

If you check it you will see that they use fake team just to start an ICO.

Many thanks to forum members helping us to reveal those fake scam ICO. Its really hard to find scam project at the start but with the help of each member we can  see it early.

Scam accusation section is highly appreciated in this regard. When I investigate any projects, I also check whether the project is there or not. Even it protected me one time.

[Innocant]

Their are lot of ICO right now are coming some of them are scam on when the time of ICO ends. So if we want to be aware of those kind of ICO must better to read more some of them information they have. And take a look sometime about the whitepaper and the roadmap of the ICO because some of them one of the important thing if the ICO are scam or not. And the team also if they are active always and have some improve of the ICO.

[ned.ryerson]

There are really no specific guidelines towards finding scam coins. Basically, there are just a few tips and tricks people tend to follow to help them what coin is safe to invest and what coin is not, and mostly scam. Research and knowledge are two weapons to equip yourself with in order not to fall for the scam coins.

but in order to earn the skill of high-quality research of coins and to get the knowledge for this, you need to get a lot of experience, which will not always be pleasant

[lobat999]

Their are lot of ICO right now are coming some of them are scam on when the time of ICO ends. So if we want to be aware of those kind of ICO must better to read more some of them information they have. And take a look sometime about the whitepaper and the roadmap of the ICO because some of them one of the important thing if the ICO are scam or not. And the team also if they are active always and have some improve of the ICO.

Indeed most ICO's are scams and I agree on most of the tips listed on previous posts to spot scam projects but I have to mention also those AIRDROP projects that were giving away free coins supposedly consisting a large portion of total supply to attract participants!

Most of them don't have enough transparency and once community bite this scheme, they tried to list the project to exchanges and will do pump and dump to victimize innocent people and once they get what they want, they leave the project without any trace - a classic exit scam! I think the community should always be vigilant about this type of scam.

[shaheer001]

Thanks for sharing a very valuable post, Nowadays it is really difficult to recognize the real or scam project. I personally recommend only take part in IEO which are conducted on high ranking exchanges.

[SistaFista]

There are many scam coin and that is no wonder because everyone with knowledge can create new coins anytime.
To find scam coins, we will need to see as the whole project. Look at the team of the coin, their whitepaper,
we should find some red flags if they are a scam coin.

[btc-facebook]

There is no specific way to find out if the project / coin is a scam or not, because there are indeed some cases when the project is running in teams and active developers, so many investors trust the project or coin
but many will deliberately scam,