How do I know if an altcoin is a scam?

[sulendra12]

I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?

You shouldn't have an expectation like that. 100x token is too good to be true and even those things would exist then people in here would have been rich for a long time ago.

Other than that, if you want to know how to determine which projects are scam or not. You should take a look at these:

• Make sure to read the whitepaper first. Most of the scam projects have plagiarized wallpaper from the famous project one and they will trying to make sure that they disguised the whitepaper to be exactly look like a legit one. You can find the example on Scam Accusations, you can find how the thing works there.
• Check the website! If they are using free web domain or the design is really bad and doesn't contain any good information at all, then it is higher chance it's a scam project.
• Look at the developer team: If the team has weird name and if the people known as the scammer from various projects then it's most likely going to be a scam project. You can check it through simple quick google search and linkedln search.

[lenovop-70]

Put investment on brand new project is very dangerous action, and i am not gonna take that risk, It is like you put money on strangers that wanna pick your wallet you actually.
For me, the coins that are appropriate for me to enter are at least a year it launched and evolved, listed on coinmarketcap, and the team I have know him on reddit or linkedin and other media. Or I used to check the coin in https://scam-alert.io/
Understand the risk before put your investment, IMHO.

[daporivera]

First off, if a project doesn't sit right with you. Do not invest your money in to it. Some deep background about the team could expose any hidden skeleton. It hurts really bad when you loss your hard earned money to scammers. Check social presence and make sure it's not mere hype.

[Slow death]

I want to add a few things:

at times the project may have real team members, have a real whitepaper and have a roadmap that suggests it can be achieve easily, and even then the project is a scam, people should be very careful and observe the behavior of the team members, if the team members are people who do not dialogue with the investors and the community then you need to be careful with this type of project because when the team members have a lot of money they will no longer be active in the development of the project.

[TastyChillySauce00]

there are usually some characteristics to it, such as obscure teams, having very large discounts (usually above 50%) only promote sales without any developments in the project. this is a common feature that I often encounter, if you want to help you in researching altcoins that are not scams, going to some review channels there usually has good reviews for the future.

I see most obvious sign is when the team is very active in sale time where they gonna try to get money from people and then becomes rather inactive shortly after the sale ended. That doesnt feel right and their effort to develop the project seem has decreased significantly now that they got the money from people who believed in their project. A good project should always stay responsive to their clients anytime because they created public offering of their token.

[JillianTaft]

Some altcoins are characterized by modifying or directly applying Bitcoin's source code. Because the Bitcoin program is open source, renaming this altcoin does not follow the idea of the blockchain at all, so most of it is a scam.

[Nora Olin]

Currently, cryptocurrency uses blockchain for speculation, and the bubble is serious. Some altcoins and air coins use the blockchain to deceive speculators, so if you are a confused novice, I hope everyone is cautious and can choose a stable mainstream currency instead of blindly choosing a small currency. It is very dangerous to be fooled.

[Tina H]

Some novices entering the currency circle have a mentality of getting rich, so they choose to play short-term altcoins. Although the volatility is high, the risk is also high. There are also some scams. If you choose some mainstream coins, you may not lose all your principal. Altcoins are where people grow the fastest, and they are also where you lose more.

[campusnet]

Currently, cryptocurrency uses blockchain for speculation, and the bubble is serious. Some altcoins and air coins use the blockchain to deceive speculators, so if you are a confused novice, I hope everyone is cautious and can choose a stable mainstream currency instead of blindly choosing a small currency. It is very dangerous to be fooled.

stable in the crypto market only stable coins. while investing in some other crypto assets will definitely remain risky with the fast-moving market.
it may be better to choose assets in the top market with high trades. I'm sure it's safer than playing for new coins which can lead to a scam.
Currently, there are more and more scammers, if we don't upgrade our ability to analyze, it will end badly for the investments we make.
In this forum, a lot of information has been shared that will help our ability to analyze projects. we just need to read and understand it.

[HaleyOccam]

This question is already an old question. You can search for related topics in the forum. You will find the answer slowly. If you are a novice, you may pay a certain amount of tuition for your youth.

My experience tells me not to believe that pie is falling from the sky, but also to think about whether there are the following characteristics:

• Any pyramid model involving "pull heads" must be a Ponzi scheme.This is the most common and notorious. The essence is the emperor's new clothes, illusory.
• The project party copied the code without any innovation, copied it naked, and only changed a name. Some altcoins will also madly build momentum, with the help of various celebrities, and shamelessly gain popularity.
• Anything that involves shameless talk such as "guaranteed income" and "inevitably surpasses Bitcoin" must be rubbish coins. Rubbish coins often use pyramid schemes for new promotion, and the project party will eventually circulate money and run away or the capital chain is difficult to maintain and collapse.
• The project code is not public, and there is no audit report before the project is listed, because their purpose is to have low-cost investment to defraud high returns.
• Project tokens will be listed on some unknown small exchanges. Such exchanges are often characterized by small trading volume, slow operation, frequent downtime, and difficulty withdrawing coins.
• The team information is opaque, the team is overwrapped, and the team is advertised as foreign senior programmers.

In fact, sometimes it is ridiculous to think about it. In their eyes, they seem to think that there are too many smart people and not enough fools.

[RussianEnglishTranslation]

Hello, I'm new here and I wanted to ask something I've been confused about for a few days.

I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.

I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?

If you invest in mineable tokens without a dev wallet you can't get scammed. That's why I invested in 0xMR and Raven. It's impossible for them to rug-pull or exit scam.

[nhaila]

It's not very easy to identify a scam project because scammers always very smart and tricky. But some sign May make projects scams .... Fake whitepaper, fake Team management, poor community, no definite roadmap and exchanges arrangements.

[bakasabo]

I would say, if a scammer really wants to scam people - only after being scammed they would understand where was the trap. While participating in bounties, I've seen multiple projects that had perfectly written whitepaper, logical roadmap in which milestones were fulfilled, transparent team, listings, altcoins were traded for a long period. And in the end altcoin holders turned into valueless altcoin holders.

There are also projects that continue running, they did not disappear, they will exist in future. But they stop to develop, they stop doing anything. They just "go with the flow". And this projects altcoins slowly began to loose their value.

In general, I would say that it nearly impossible to tell if altcoin is a scam or not.

[aylabadia05]

Hello, I'm new here and I wanted to ask something I've been confused about for a few days.

I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.

I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?

My advice, if you have any doubts on one of the tokens that you think is genuine or not, you should not trade or buy.
In this sophisticated era, there are many conveniences that can be used to find out whether the token is genuine or not. One way you can check on Google. Now, the Bitcointalk forum has also informed participants about the scam project.

[kak uli]

I think To know that it is an Altcoin scammer is the first to not have a strong team, and not to have great investors. then the next step To find out that it is a scam altcoin not listed in Coinmarketcap. I think like that

Not being listed in coinmarketcap is the last point for new projects, because the main thing that the project developer must prepare is a completely transparent team structure and a roadmap that really makes sense, so that with that they can also publish their cooperation partners so that investors can come by themselves.

true as what you said, but we can also find out on coinmarketcap whether it is listed there or not. I don't believe in a big campaign being carried out by a bounty project team if the token they are developing is not listed there on coinmarketcap.

[Darktongue]

If I predict so many people won't agree with me, but I know here we have over 200 profitable altcoins. This is the reason we should stay active in every cryptocurrency situation. You don't need to get information from others. I think I know 200x coins even though I won't advise you to invest in one altcoins. Cryptocurrency is always a very risky investment.

[no-ice-please]

This question is already an old question. You can search for related topics in the forum. You will find the answer slowly. If you are a novice, you may pay a certain amount of tuition for your youth.

My experience tells me not to believe that pie is falling from the sky, but also to think about whether there are the following characteristics:

• Any pyramid model involving "pull heads" must be a Ponzi scheme.This is the most common and notorious. The essence is the emperor's new clothes, illusory.
• The project party copied the code without any innovation, copied it naked, and only changed a name. Some altcoins will also madly build momentum, with the help of various celebrities, and shamelessly gain popularity.
• Anything that involves shameless talk such as "guaranteed income" and "inevitably surpasses Bitcoin" must be rubbish coins. Rubbish coins often use pyramid schemes for new promotion, and the project party will eventually circulate money and run away or the capital chain is difficult to maintain and collapse.
• The project code is not public, and there is no audit report before the project is listed, because their purpose is to have low-cost investment to defraud high returns.
• Project tokens will be listed on some unknown small exchanges. Such exchanges are often characterized by small trading volume, slow operation, frequent downtime, and difficulty withdrawing coins.
• The team information is opaque, the team is overwrapped, and the team is advertised as foreign senior programmers.

In fact, sometimes it is ridiculous to think about it. In their eyes, they seem to think that there are too many smart people and not enough fools.

Thanks for writing this up. Actually, the list could probably go on and on, but you pointed out the aspects that are usually so blatantly obvious, yet we see people falling for it. Also when the Telegram channel is full of bots, you just need to search certain phrases and they pop up a hundred times in the search bar because they deploy bots. Mostly, those teams are the ones to also tell you the exact market cap of the coin in two months from now. The team information is opaque - that is almost euphemism. In most cases they are just anonymous or use fake profiles. You can find their fotos with a google search...

[Xampeuu]

I think To know that it is an Altcoin scammer is the first to not have a strong team, and not to have great investors. then the next step To find out that it is a scam altcoin not listed in Coinmarketcap. I think like that

Not being listed in coinmarketcap is the last point for new projects, because the main thing that the project developer must prepare is a completely transparent team structure and a roadmap that really makes sense, so that with that they can also publish their cooperation partners so that investors can come by themselves.

true as what you said, but we can also find out on coinmarketcap whether it is listed there or not. I don't believe in a big campaign being carried out by a bounty project team if the token they are developing is not listed there on coinmarketcap.

right, sometimes even registered tokens suddenly disappear from the coinmarketcap list, and when that's the case we can predict that the price has turned to ash, and the capitalization is certainly low. but there are also incidents after being lost for a while and then reappearing on coinmarketcap, and we must be careful to deal with situations like that

[no-ice-please]

I think To know that it is an Altcoin scammer is the first to not have a strong team, and not to have great investors. then the next step To find out that it is a scam altcoin not listed in Coinmarketcap. I think like that

Not being listed in coinmarketcap is the last point for new projects, because the main thing that the project developer must prepare is a completely transparent team structure and a roadmap that really makes sense, so that with that they can also publish their cooperation partners so that investors can come by themselves.

true as what you said, but we can also find out on coinmarketcap whether it is listed there or not. I don't believe in a big campaign being carried out by a bounty project team if the token they are developing is not listed there on coinmarketcap.

right, sometimes even registered tokens suddenly disappear from the coinmarketcap list, and when that's the case we can predict that the price has turned to ash, and the capitalization is certainly low. but there are also incidents after being lost for a while and then reappearing on coinmarketcap, and we must be careful to deal with situations like that

Coinmarketcap usually delists or deactivates data for coins that simply don't produce any trading data anymore, aka they are essentially dead or delisted from any exchange that Coinmarketcap pulls data from. Bottom line is if there is no data for a coin on that website, consider it dead. 

[Renampun]

Hello, I'm new here and I wanted to ask something I've been confused about for a few days.

I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.

I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?

new defi offering high APR is an invisible scammer...

defi who has good quality will definitely not offer very high APR/APY and has a professional team and is mentioned by a trusted BSC twitter account. Don't just put your money on a defi platform if it's only based on a high APR/APY.