How do I know if an altcoin is a scam?

[sgenuine]

Unfortunately, you can’t be completely sure that the altcoin you are going to invest in is safe. Moreover, if it is a new one. But as you have said about LP, I can guess that it is a token of defi project. So the steps you definitely need to take before investing are investigating the idea and docs, then an overview of the team and also you should see if any “whales” are going to invest in it.

[cunguks]

Unfortunately, you can’t be completely sure that the altcoin you are going to invest in is safe. Moreover, if it is a new one. But as you have said about LP, I can guess that it is a token of defi project. So the steps you definitely need to take before investing are investigating the idea and docs, then an overview of the team and also you should see if any “whales” are going to invest in it.

Honestly, never trust a project like that. eventually, there will be a regret.
after all, anything new project like that will just attract market hype and then they walk away with the profits. leave them far if you still want to stick with your money. because some assets and projects are more feasible for us to choose from.

[Maslate]

Unfortunately, you can’t be completely sure that the altcoin you are going to invest in is safe. Moreover, if it is a new one. But as you have said about LP, I can guess that it is a token of defi project. So the steps you definitely need to take before investing are investigating the idea and docs, then an overview of the team and also you should see if any “whales” are going to invest in it.

Honestly, never trust a project like that. eventually, there will be a regret.
after all, anything new project like that will just attract market hype and then they walk away with the profits. leave them far if you still want to stick with your money. because some assets and projects are more feasible for us to choose from.

It is very simple to choose which one is profitable and sustainable coin the market. They are a lot of them, actually. Only we need to keep them rather than looking for other potential coins which we are not sure about. For we are about surrounded by scams and fake projects, the more careful we are going to choose of what project we invested as this can be final and no way we can get our money back once we fall into scam projects.

[Geeenz]

One thing if the altcoin is a scam. First to check their team if new to crypto or not..  Second , fake website of their project or poor whitepaper, Lastly, is the token sale of the project, then you can say its a scam.

[RokokGudangGaram]

Honestly, never trust a project like that. eventually, there will be a regret.
after all, anything new project like that will just attract market hype and then they walk away with the profits. leave them far if you still want to stick with your money. because some assets and projects are more feasible for us to choose from.

It is very simple to choose which one is profitable and sustainable coin the market. They are a lot of them, actually. Only we need to keep them rather than looking for other potential coins which we are not sure about. For we are about surrounded by scams and fake projects, the more careful we are going to choose of what project we invested as this can be final and no way we can get our money back once we fall into scam projects.

It is wiser to stick and choose the sustainable coins that have been in the market for the long time rather than going into the new hyped ones. By doing so, you are choosing those that are with reliable background which can give a stable profit in the right time. Also, following what the majority or even the whale are going after is dangerous because it can be just that they are taking advantage of luring people into a shit coin then leave it after they got what they want.

[Golftech]

Unfortunately, you can’t be completely sure that the altcoin you are going to invest in is safe. Moreover, if it is a new one. But as you have said about LP, I can guess that it is a token of defi project. So the steps you definitely need to take before investing are investigating the idea and docs, then an overview of the team and also you should see if any “whales” are going to invest in it.

Honestly, never trust a project like that. eventually, there will be a regret.
after all, anything new project like that will just attract market hype and then they walk away with the profits. leave them far if you still want to stick with your money. because some assets and projects are more feasible for us to choose from.

Always a case of those new hypes projects, they been pumped by whales or pump and dump group

used as tool to attract interest from their prospect victims, if you want to take the risk much better

to focus with invetigating the team first and see if there's real use for the project in the long run.

[magnum cyber]

Sometimes we are interested in the token booster when we want to enter the LP, but if we choose the wrong altcoin, of course all of our assets can be lost without the nominal listed when the LP has been opened, so we better re-examine the token with some tools available on the web as well as some of the websites that have been mentioned in this thread, of course it is very helpful for those of us who are involved in LP farming.

[Woodie]

If you are quite exposed with altcoin projects and have the technical know how, you could go through the white paper proof read it for any plagiarism, if you find it alert everyone to avoid orhwrs from being scammed!

Sometimes a simple Google search on reviews about a project can reveal so much which should help you make the call it its legit or not, just don't fall for the hype people are paid to paint a picture a project is promising.

[adzino]

You will know if its a shit/scam coin if you study about the coin a little. Most of the shit coins are just a clone of another well developed coin with a different name. They even copy the whole whitepaper and just makes some small changes over there. Some of the coins will make no sense at all. You will also notice most of the projects will have fake team members and community. They will keep on trying to shill for the coins. Another way to know that its a shit coin is by looking at the charts. You will see that they usually get pumped and dumped at regular intervals. Stay away from those.

[deathcode]

Don't trust a new project that gives a statement or excessive lure because it's clearly a scam. what we need to know now is how the team and the coin are performing in the market whether it has a good development or is it just hype

especially for ICO projects that offer huge discounts on their initial sales.
I laugh at some of the current new projects that give birth to new tokens and then trade them without any real projects supporting them.
trades are manipulated by those who are part of their own team. then they disseminate information through social media with attractive graphics.

[marissa23]

It can't be fully precised, but you can do research, scam projects also have characteristics, such as no seriousness in project development, teams with no profile picture, minimal information, too closed.

Many indications of scam projects include poor web graphics, not much information about telegrams, bad project whitepapers, and even plagiarism results. The more you know the indications of a scam project, the more than 60% accuracy of the analysis is right for new projects.

[kevindjunaidi]

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 I personally do research first and never invest in a new altcoin, then the research I do to find out if altcoin is a scam or not is,
1. in recent months the project has progress
2. altcoin have quality and useful product for the future
3. the team is always active in providing information about the project
4. project according to roadmap and whitepaper
5. the team always keeps promises

[CaVO32]

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 I personally do research first and never invest in a new altcoin, then the research I do to find out if altcoin is a scam or not is,
1. in recent months the project has progress
2. altcoin have quality and useful product for the future
3. the team is always active in providing information about the project
4. project according to roadmap and whitepaper
5. the team always keeps promises

Also, if you are in doubt, better not to invest funds on them yet. Let them do their part first, like, if they can implement the tasks laid out on their roadmap. Or let them develop first their platform to be up and running. Because most of the time, the team are only good in talks but you can't see them progress in terms of implementation of their roadmap. Even if the team doxxed their ownership, which is the trend these days, that's not an assurance that they will not rug pull. They know their contract or their project itself, and they can easily manipulate what needs to be done if in case they wanted to disappear after getting some money.

[jajorforce]

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 is still possible to earn 100 times profit from the trusted old altcoins. I lost some money even after a good exchange listed. We need a little time to know the legit admin, so we should leave some time to build something interesting. Even we shouldn't trust high volume altcoins only after a few months trade exon exchange.

[zachyboy090118]

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?

Review there team, whitepaper and people behind the group if they are all legit. Somr of them is just creating fake and doing scammed to other investor. Review will and be vigilant always before doing and make a move to your investment.

[sherenikaw]

It's hard to say for sure which coin is a scam or a good one. What is certain is that if you want to invest in new coins, you can see from the team that handles them, if the team is really professional and has good judgment then that will be good too. Personally I'm also still learning to avoid scam coins/projects, so I'm more careful now and really choose projects that have a good team. I think it will help and if you are still confused we can try to invest in coins that do have good prospects in the market. There are many coins that have good prospects in the market. Usually the price is more stable too so the possibility of loss will be less. I am also still learning to be able to choose a good coin in the market and I will read this forum more often from experienced people.

[smyslov]

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 already part of your post and that is USE CASE a project cannot keep up without a platform and usage each coin that we have in the top 100 do have their own use case, a project is defined by its use case, without this they are nothing but a pump and dump coin, not only use case but something that can contribute to the advancement of Cryptocurrency.

[mey466]

In my opinion, knowing which altcoin projects are scams and which are not is quite difficult, but usually scam projects always carry out very large discount promotions, and promise multiple returns, this needs to be avoided or further research needs to be done

What do you mean by discounted token prices that are very cheap and promised high prices when listed on the exchange market?  there are many ways to find out if a project is genuine or a scam by doing all of these ways we can judge whether or not a project is feasible or not for us to work on, it's also true don't be tempted by unreasonable offers so that we are interested in joining to make an investment

[CryptoLogo]

Unfortunately, you can’t be completely sure that the altcoin you are going to invest in is safe. Moreover, if it is a new one. But as you have said about LP, I can guess that it is a token of defi project. So the steps you definitely need to take before investing are investigating the idea and docs, then an overview of the team and also you should see if any “whales” are going to invest in it.

First of all, you need to find out whether the team is live, whether there are profiles in social networks.
Secondly, it is very important to learn about the past of the team, because often scammers and losers pick one project and launch a new one, essentially the same one under the guise of a new one, and it is important to be able to identify such things.

[bakasabo]

First of all, you need to find out whether the team is live, whether there are profiles in social networks.

How do you imagine checking if the team members are actual persons or just fake accounts just by checking their social network? Usually, team social media accounts share limited info about the person. Often you dont know more than just name, surname and city or country they are from. With that, they try either to stay more anonymous or be a fake person.

Btw, all the IT department at my work dont have social media accounts at all. I'm sure they can code, but despite their CV, you cant get any info about their experience and etc.

Secondly, it is very important to learn about the past of the team, because often scammers and losers pick one project and launch a new one, essentially the same one under the guise of a new one, and it is important to be able to identify such things.

Again, not many team members share info about their experience. It can even be persons own decision not to show past experience, while having dozens of successful projects or experience behind. What conclusion you will do then?