How to know if the project is fake?

[Erumo]

You can start with that or verifying the identity of the team if it's legitimate or not. Just do the basics by reading through the white paper, or even joining their community asking the team questions. I've been into some projects where the team cannot answer the question of the community professionally or avoids questions that are about the projects legitimacy or future plans.

Have you asked each and every team member? Could it be possible that the person you have asked is not responsible or is not working in the area your question was? Also matters where you have asked. If this was done on a telegram, then group admin might not be a guru of a project.
But if you have asked overall question about the project and the team was silent like a fish or not able to make an adequate answer, then yes, your method worked well. 

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[Psynthax]

True! Directly asking the teams is the best way to do after reading all the white papers. Do not believe in the white paper only because it can be fake! Doing researches is not enough if you don't verify the information that you read. Choosing trusted sources as well as trustworthy information is very important. In general, contacting directly with the team and give them some professional questions to answer, you'll know something!

Before trusting anything the developers say if you really want to finds out whether a project is fake or not. try to investigate their identity and whether they are real person or not or just some stranger impersonating a person and it's the most important thing. In the past, there are so many people found out using someone else's identity for their ICO project and that's an obvious scam sign.

[btcltcdigger]

Honestly, it takes years of experience and getting f**cked recked many times to have a "spidey sense" about it.
But usually, if it looks too good to be true, it is.
Any project promising "cloud mining", or "trading bots" or even high returns by doing anything, is a scam, or atleast a ponzi/pyramid.

Look at it this way. If cloud mining can return more than what you pay for it (which is usually a promise). why would they give it to you?

[arufox]

So how do you indentify if the project is fake?

To identify fake project is so difficult, especially for people who have little knowledge about crypto, also we must spare time to doing a depth research. Many people can't do this. So for me it's so simple, go to scam accusation board https://bitcointalk.org/index.php?board=83.0 everything you need in there. That's board will help you before investing

[someone703]

Make your own assessments, such as checking websites, groups, investors, white papers ... if it is still not enough, you can consult the ICO review websites.

[RabbiTANK]

It's not easy to identify or detect a fake project on crypto world, its going to cost you a lot if you are new, meaning that you would have fall more times for scam projects before you start knowing how to really avoid them, without some real mistakes you can never know how to, you might have few ideas but won't make much difference.

[bayudndy]

Do not waste your time with new projects in this market, they will somehow get a lot of trust from investors. And then the project will die slowly and disappear from this market. Go to coinmarketcap and choose the best projects there to invest

[Princeofpoetry]

you can consult the ICO review websites.

Is the ico review website meant about ico rating? if yes, I am not sure that it can avoid fake projects

[omnik]

Make your own assessments, such as checking websites, groups, investors, white papers ... if it is still not enough, you can consult the ICO review websites.

ICO review site will not give you a good solution as that site was also being paid to promote the icon. So many people have been accusing icobench caused by that and it has turned into the dead platform right now.
It's better to see the review from the community.

[kaseygriffin]

I do not have too much knowledge about distinguishing scam projects. I usually read their whitepaper and group test, but it was not enough to judge the quality of the project. So I often consult with other people and reputable websites in this market

[Icologies]

I do not have too much knowledge about distinguishing scam projects. I usually read their whitepaper and group test, but it was not enough to judge the quality of the project. So I often consult with other people and reputable websites in this market

in terms of partners, it does not guarantee that the project will be good, There are so many ways the project To do cheater, the project dare to put it without the approval of the partners, I prefer devloper activity if frequently update and make an ivent event it is likely that the project will be good

[Pamadar]

I do not have too much knowledge about distinguishing scam projects.

It's not as easy at it is, even those projects that looks like legit eventually turned into scam and runaway with investors money.

I usually read their whitepaper and group test, but it was not enough to judge the quality of the project.

Scammers are also good duplicating how legit project works with whitepapers, they are knowledgeable managing the write ups.

So I often consult with other people and reputable websites in this market

It's good to seek for more ideas and information before totally investing in to lessen the chance of being victimize.

[bangdol]

I do not have too much knowledge about distinguishing scam projects. I usually read their whitepaper and group test, but it was not enough to judge the quality of the project. So I often consult with other people and reputable websites in this market

If you don't have much knowledge about evaluating new projects, then I think you shouldn't invest. It is too dangerous and you may lose money at any time, if possible, you should choose projects that implement IEO. It will be a bit safer and more profitable for you

it will be just as risky when the IEO did by the project is in the wrong place. now many IEO projects also fail or scam. for beginners, it is better to invest in a market that is already feasible.

[coin-investor]

Fake project is really frustrating if you're one of the victim especially for investors and bounty hunters.
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.

So how do you indentify if the project is fake?

It's one of the ways to find out, some of the effective ways are checking the profile of their members some of them are photoshopped, and checking their whitepaper, some of them faked or copied their whitepaper from other projects, you can also them to do AMA and if they decline then we can suspect that this is not real people and they are faking their credentials.

[MCobian]

To be honest until now I still have trouble making sure projects are fake. Because new projects in circulation now look like real projects.
From the start of website design, roadmaps, whitepapers, social media, promotions and even the developer team is very convincing. So I'm
quite confused about how to effectively find out those projects are fake. For now I choose to invest in new projects with many bounty hunters 
are promoting, in my opinion an example of a real new project is Diadata.

[Perfect35]

Fake project is really frustrating if you're one of the victim especially for investors and bounty hunters.
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.

So how do you indentify if the project is fake?

It's one of the ways to find out, some of the effective ways are checking the profile of their members some of them are photoshopped, and checking their whitepaper, some of them faked or copied their whitepaper from other projects, you can also them to do AMA and if they decline then we can suspect that this is not real people and they are faking their credentials.

besides that, sometimes the social media that his team uses doesn't have too much information. Well, it's weird that big people don't have famous social media. even more so when they hid their team, personally, I would not support a project like that, even that was very suspicious.

A real and trustworthy project would have started building it's capacity long before it's launch. There are some that have been in existence three years before fundraising programme and some have been existing long before that. A very good example is Hybrix. If a project that is just created and few months fro that time, it launches on a fundraising programme, that should be a suspicious project. Most times, when you check their social media handle, it is either they have scanty posts or that they just started posting of recent. That also is a no to me.

[marks1976]

A real and trustworthy project would have started building it's capacity long before it's launch. There are some that have been in existence three years before fundraising programme and some have been existing long before that. A very good example is Hybrix. If a project that is just created and few months fro that time, it launches on a fundraising programme, that should be a suspicious project. Most times, when you check their social media handle, it is either they have scanty posts or that they just started posting of recent. That also is a no to me.

I think the time from when project created and when they are doing ICO have nothing to do with legitimacy. there are some projects that's just an idea and getting realized after ico ends. i think what matter most is how the developer prepare their project and how they response to any question relating their project.

[Olatunjex]

I just make a basic research but mostly I would just check the ANN thread in the forum.
We are in a very active forum, lots of members cared for the community, so once the project listed is scam, it would certainly receive a negative tag from DT members.


I agree with you and I also do this. Other things I do is to check the authenticity of a project whitepaper, their social media for updates and the team members whether they are genuine or not

[404edson]

Fake project is really frustrating if you're one of the victim especially for investors and bounty hunters.
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.

So how do you indentify if the project is fake?

First thing of me to do is to check of the bounty administrator. I based for their past recommendation that there's a lot of ICO's here are successfully launched to the exchange that both investors and bounty hunters are happy for the result. They got well paid and investors had a good profit. Tracing their works might be useful for you to come up investments or taking bounty.

[Review Master]

First thing of me to do is to check of the bounty administrator. I based for their past recommendation that there's a lot of ICO's here are successfully launched to the exchange that both investors and bounty hunters are happy for the result. They got well paid and investors had a good profit. Tracing their works might be useful for you to come up investments or taking bounty.

The way of your searching is really good. But we rarely findout those kind of campaigns which are managed by well-reputated bounty admin/manager in this current time. Nowadays, only scam bounty admin/manager who are here in this forum only to launch their bounty/ann to collect funds from investors and there are no real use-case of the projects. So, it's always better to look into the "scam accusations" or scam busters are doing their jobs by flagging the projects to make aware among the investors/bounty hunters which the best way to know about the projects, Imo.