How do I know if an altcoin is a scam?

[MauJohn21]

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?

Just research it and look into their community / join their discord server. That's how I found out about DIVI, it's great and I have no regrets

This is definitely not such a simple task, however an indicator that I think can help is the acceptance of the cryptocurrency by Kucoin. It is a special endorsement and to learn a little more about Divi's pro I want to leave you the following link: https://wiki.diviproject.org/

[poodle63]

To know if altcoin is scam, visit their website and study the white paper, know the team behind the project  and other important details regarding the project. Also, don't invest if you hesitate about it. It is still better to invest those altcoin which already have a strong foundation in crypto market.

Even whitepaper could be bought, there's many people out there that are selling services to create whitepaper, i wonder how they could make whitepaper so fast but they
do exist, a legit project however always have believable whitepaper that makes 100% sense for people, or they could even simplify it to make people even the average joe
easy to understand the concept.
Just try to ask the team behind the project about some technical stuff, if they are legit they know what they are talking about.

[Dr.Osh]

very difficult to determine a coin just from its name alone. You need to do deep research for that. even coins like ETH, or BNB are still very difficult to predict. if you want to know, whether the coin really has great potential or not, look at the developments in the telegram. if they make something ahead, it could be that the coin is going up high in the future.

[pinoycash]

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?

No one can predict if a token will reach or pump to 100x in its current price. Even if the presale LP is lock its not guarantee since there are sneaky devs that know how to rugpull even if the LP is locked. But having a doxxed dev is a postive thing,

[wajik-tempe]

It's quite easy if you already know the pattern of scam altcoin.
This is my list of the marks of scam coins.
1. They don't have any proper websites to present their projects.
2. The community is not active, or they don't have any social madia community at all.
3. Their team members don't have linked in accounts.
4. The rest, experience is the best way to learn, you will know the pattern of scam coin when you already scammed a lot

[sumant]

Now at present time creating crypto projects is now way of scamming community. So many crypto coming on daily basis, you will be confused who is legit or scam. A scam project will not make a website that telling the usecase of the project. They will not give team members name. Their social media is not going to be active too much. They will give you good percentage of bonus in sell ,Because you will buy more and going to scam with good money will be easy for them.

[huiji2011]

First of all, i think it is necessary to lower the request. Does not dream of buying coins with a hundred times profit. It is enough to invest in coin with x10 potential.
As for how to distinguish, this is very difficult, bitcoin is also people say it is scam now，of course，we all know this is wrong.
The easy investment strategy is, only buy new coins that Binance invest in, or with a high market value.

[dhemasm]

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?

It's little bit hard especially if dev was anonym if not the you can try to track their profile and look their experience or anything. Sometimes a project with a good vision and mission and other convincing factors can end up being a scam. My advice Maybe it's better to follow a project with more transparent development process and real person on their team.

[Dread Pirate Roberts]

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?

Altcoins are rare to scam. because you have the coins. maybe you mean the value drops until it has no value? well it depends of the community and developer. and the fact is that the every altcoin who didnt have community at all needed budget for their altcoin for become successful in market.
and its going the worst if you talk about ICO / token most of them are really had no value at all.

[Kunotcoin]

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?

Actually, it's very hard for us to determine a new project if it was legitimate or a scam because we don't know yet their positions or motives, it is all up in their minds that's why for me I consider it as a gamble to invest in the newly created projects although that some projects are guaranteed legit especially if they are doing some IEO campaigns in large crypto exchange like Binance other than that is considered to be uncertain.

[ILuckyGuyI]

It is actually not easy to determine which altcoin is scam which is not. The best and most important thing is to do a really detailed research about a project. It can help you evaluate the project really a lot. Otherwise, I don't know any other way to be able to know that.

[toast]

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?

You should familiarize first on how different project works. Look at the other project that is similar with the project, look for the uniqueness of the project and why they deserve a x100 in terms of price. It's easy to claim that they would have a 100x in the future but it's impossible to predict you should also look if they have working project and most of all their market volume.

Just a tip, most of the altcoin startups won't be too long so you need to review and study the project very well to avoid the scam projects.

[GelatikKembar]

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?

You should familiarize first on how different project works. Look at the other project that is similar with the project, look for the uniqueness of the project and why they deserve a x100 in terms of price. It's easy to claim that they would have a 100x in the future but it's impossible to predict you should also look if they have working project and most of all their market volume.

Just a tip, most of the altcoin startups won't be too long so you need to review and study the project very well to avoid the scam projects.

Yes we need to do more research to find out how the project works,
besides that by doing research we also know whether the project is really promising or a scam project,
what is clear is that doing it is not easy, it takes more effort

[jaberwock]

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?

When you aim 100x profits from a coin, you must be prepared to fail 99 times and sometimes even that is not enough. Don't get me wrong but it is like winning a bet at a casino with a 100x multiplier, you might hit every once in a while but you will lose more than you earn with the 100x.

The altcoin market is so crazy that you might be lucky to invest in projects like YFI where the value went ballistic or you might end up investing in a shit project with a fake team and stolen whitepaper. No matter how much research and analysis you have done, you can never guarantee success with any project even if they look like a diamond from outside. If a coin has good use cases then you can at least feel safe because the coin won't become dirt all of a sudden.

[Ararbermas]

To figure it out you should make a observation first especially if it has no value yet or a new project because it's too hard to know how good it's or let say if it has a potential to become scam project afterwards. But still i suggest to just try to visit the sites if it has a genuine team behind because that's the most important and through the chat group also of the project so that you can obtain some information perhaps it can help you to know if it's a scam or not in my opinion since that's the common ways of other investors to find out if it's good or not..

[el kaka22]

It is honestly not that simple not to get scammed. Because there are tons of projects that make it as great as it can be, like I have seen tokens that would make profit if the owner kept it up, they were great and then they pulled the rug and took the money instead.

However there are few methods you can check, like on defi you can see if the ownership is renounced and if there is a timelock and if there is fee change if there is migration basically many things. That is one of the ways you could check and see if they are real or not, and it is a simple deal to check that, doesn't mean you won't be scammed but at least you know certain things and would be scammed less. Regular coins are another deal, check premined and other stuff but you all know what you need to do, I just hate it when team gives itself too much power, that is the most important part.

[Rakeshten]

I think first you should start investing in big project coins or top coins,  because you are new. If you want to know about any coin future you should read their roadmap, tokenomics Or whitepaper if have.

[feelideb]

The Amm model of exchanging token base on altcoin like ethereum  has increase the participation of bad actors in cryptocurrency space! The likelyhood of a project turning into scam is higher than it has ever be. Therefore, precaution most be made before investing your hard earned money!  The basic pre-caution is as follows;
1. Contract Audit and renounciation of contract!
2. The supply of the token and it's appropriation
3. The nature of the token e.g deflationary or inflationary vis a vis price!
4 The quantity of token been held by the Team, Marketing etc!

[laredo7mm]

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?

The first piece of advice is if you don't know and understand a project well enough then don't invest it. And most of the time scam project appears in the market when the market is trending for a certain project. As an example when meme coin hype occurred then we saw many similar projects like Shiba Inu and most of them are copies of Shiba Inu. Those are mostly scam projects.

[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?

You only know a project isn't a scam if it has fair distribution. RVN and 0xMR can't be scams because they are fairly mineable and there are no dev wallets.