How do I know if an altcoin is a scam?

[DonFacundo]

As a beginner of this crypto industry you should not trust the new project to invest because there are many scam coins out there. It's difficult to find a coin that can increase 100x.. It's better to invest in the top coins and hold but don't expect that can go 100x just be satisfy of your earning.

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[imstillthebest]

Check their team and previous experience. If they are new or no-names, I would start to be suspicious. How can a developer has nothing do display on public and promise success?

newer projects right now are more anonymous than what we have in the previous times .
 this makes it harder to determine if they are legit or not but there are project that are honest and been running up to this date  .

Check what they offer or are developing? Is this something new? Or another swap/exchange/dog (or other animal) related project? There are thousands of them already. They cant make 100x.
 Remember, there are no easy and quick money in cryptocurrency, at least anymore.

we have meme coins with no real use case and have a repeat function .
 if we got lucky the coin can get shilled by elon musk and it will pump but of course i dont recomend it because the loosing rate for this coins is still high.  

[bamb]

The best way to know if a project is a scam project or not is through your own research before you buy into such project.  It safe to assume that any project will not fully disclose all the information you need to make a right decision.  You must read in between the lines and make a sound judgement about their claims.  Another way to invest is to buy time test altcoin in Cryptocurrency market.

[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

[arifteguhr]

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.

[marissa23]

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.

Many scam projects can be listed on coinmarketcap and some listed on coingecko, cannot be used as a conclusive analysis for new projects. The main analysis is the core of the whitepaper including the concept, team, roadmap, periodic information updates on social media.

[Fredomago]

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?

I think if you doubt the project you are following, try to look back and study the project and try to see the person who manages the project, here safe projects are usually managed by very experienced people, if you want to know the project is a scam or not basically we can't say a scam Without solid evidence, sometimes the problem that develops is not entirely true, try to follow a project managed by an experienced person to minimize the risk.

Sorting out projects is not easy as it is, you can say that by following those experienced developers might lessen chances of getting scam, which probably a good suggestion, but along the way, there's  still a chance there that even well-known teams breaks up and runaway with investors money.

Going deeper  following the team and the progress of the project, even it's slow as long as they are meeting their targets and the eam are not stopping to continue the development, if there's real usages then the project will soon received adoptions and acceptance placing the value to grow and give decent benefits to all those investor who believes and keep their trust with the team.

[bryant.coleman]

LOL.. rather than finding out whether a project is scam or not, it is easier to find whether it is genuine. Because more than 95% of the new projects look like outright scams or cheap copycats. So in case a project stands out from the rest, with aspects such as unique idea, continued development, quick response to bugs.etc, the you can shortlist it. To invest or not will depend on other factors as well, because a good idea alone can't guarantee success in the cryptocurrency market. There needs to be good marketing, and availability of enough funds with the developers.

[deathcode]

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.

Many scam projects can be listed on coinmarketcap and some listed on coingecko, cannot be used as a conclusive analysis for new projects. The main analysis is the core of the whitepaper including the concept, team, roadmap, periodic information updates on social media.

for new projects maybe we can see more easily than projects that have been traded.
Usually, some documents are duplicated from other projects. Teams and platforms may be just what they planned.
but those who have already created the platform are the dangerous ones. they open investment and trade and it is very possible that they quickly take profit from us.

[wiss19]

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

That's correct. A project where the talk is always about the price rather than the product is one to avoid at any costs. So far, almost all the projects who work on the product and neglect all the price talks are the ones that do well. I joined the shiba Inu token group and everyone was shouting, to the moon and profit,etc while no one was actually discussing what it provides as a product. Anyone asking such questions was being removed from the group silently.

There might be many warnings but I can roughly list out 3 warnings of a scam project.

1- Talk about the price too much instead of the product.
2- Hidden team or just no mention about the team
3- ICOs aiming a high hard cap

[BayAngelo]

do not invest in any token you saw pumping in the market without any background. it is surely a pump and dump campaign targeting newbies like you. Also it is not guaranteed when the project owners are known, smart contract is audited and partnership created. the project can still be a scam. i suggest you stick the top tokens in the coinmarket no matter how much your money reach.

[no-ice-please]

LOL.. rather than finding out whether a project is scam or not, it is easier to find whether it is genuine. Because more than 95% of the new projects look like outright scams or cheap copycats. So in case a project stands out from the rest, with aspects such as unique idea, continued development, quick response to bugs.etc, the you can shortlist it. To invest or not will depend on other factors as well, because a good idea alone can't guarantee success in the cryptocurrency market. There needs to be good marketing, and availability of enough funds with the developers.

If you are looking for a real moonshot you often do have to take some more risk and accept the existing information asymmetry. If you wait until it is obviously not a scam and a good one instead, it will most likely have pumped by then. I know it is a bit tricky, but I always take some of my money and try to be earlier than the rest of the market. The cost that comes with that strategy is to fall for a scam indeed.

[flagpara]

As OP, newbies are always coming during the bullrun season then want to grab new altcoins. Why? Newbies don't see coinmarketcap listed coins or they are here to give money to scammers. Those newbies will make rumors about cryptocurrency in the future. Almost 50-70 percent of newbies will lose money for participating in the new ICO.

[zhelis74]

As OP, newbies are always coming during the bullrun season then want to grab new altcoins. Why? Newbies don't see coinmarketcap listed coins or they are here to give money to scammers. Those newbies will make rumors about cryptocurrency in the future. Almost 50-70 percent of newbies will lose money for participating in the new ICO.

There are factors i considered to see if altcoins is a scam or not, first i'll always look for the team composition and search it on the web for their reputation. Second is if it is listed on the exchange its movement is seems movable but trading volume is unidentified, that is the thing to be considered prior investing new altcoins.

[Rigon]

if you want to know if the coin is a scam or not, it will usually be seen from the response given in the telegram group which usually doesn't give a good response to other members, but with this thread they scammers can read this and maybe will improve their way of doing it. scam.

Yes sir you are absolutely right because a scam project handling their telegram community with poor skilled team management and they don't answer community members questions and avoid valuable information. They don't have definite whitepaper and roadmap, fake teams .

[DPrillio]

if you want to know if the coin is a scam or not, it will usually be seen from the response given in the telegram group which usually doesn't give a good response to other members, but with this thread they scammers can read this and maybe will improve their way of doing it. scam.

Yes, i agree with that since its already my experience and if you see their website there is no proper support and clear view on their roadmap until such time that we can no longer access the website and telegram support will gone.

[NathanielParker]

Sometimes I watch some new projects at ANN, read their white papers, or fund allocations, and go to social media to find out. However, some of them have specialized packaging companies that will package this project perfectly, and sometimes it makes me unable to distinguish.

[kidbounty]

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?

ask about the development funds they get, where they are kept, and what they will do next. don't forget to check the background of each development team. do not easily believe the words they say, and always pay attention to every thing. because scam projects usually look promising at first.

[EvieLannister]

You can join their community to see what they are discussing, look at their project team, basic technology and white papers, don't be fooled by the huge profits the project team said, stay calm. If the project just relies on hype, don't invest in this project.

[irsada]

For people who are just starting to invest in crypto, don't jump into projects that are just starting out with IDOs, ICOs, and the like because investing in these has a big risk, even people who have been crypto for a long time can get scammers. it's better if you want to start just investing in large altcoins such as bnb or ETH rather than expecting short profits to be multiplied but in reality not as expected.