As a new Altcoin how do you differentiate yourself from the scammers?

[Predict_Vision]

Hello Everyone,

It's been a great journey building a new altcoin and we have met amazing people and communities through the journey, however we have encountered many scammers on the road as well.

We avoided most of them, until recently we have discovered that our token was cloned in the BSC with same name and same token symbol which we thought wasn't possible.

One of the most difficult part is to earn the community trust as there are many scams out there and they are getting better and sophisticated.

So, we are guilty until we prove we are not.

Just want to start the discussion to understand the best ways to differentiate yourself from the fake's and scams and learn from everyone.

Thanks!

[5W-KILO]

What's the name of this token you talking about? There is one thing can scammers can't make a clone of and that's smart contract address, there is no way on earth this is possible to clone so share the real smart contract on your telegram channel for all investors to be aware of, make them the original smart contract address and warn them about fake ones, also do these ..

1. Make sure you token get listed on coinmarketcap, newbies and investors go there to get a token's real smart contract address.

2. Have a bot on your telegram group that warns users once they join the group that fake token is out there and yours is the real one, make the bot drop the real smart contract address for new investors to see.

3. Report fake channels on telegram.

4. If fake token is on coingecko report as well.

[btc_angela]

I think it will take time for the community to find your projects to be not scammy.

As you have said, there are a lot of scam projects that really affected those who are legit and offer something different in the crypto space.

So make time be your friend, just try to improved your project, build your reputable slowly and sooner or later you will get the recognition you deserved. Best of luck!!!

[Predict_Vision]

What's the name of this token you talking about? There is one thing can scammers can't make a clone of and that's smart contract address, there is no way on earth this is possible to clone so share the real smart contract on your telegram channel for all investors to be aware of, make them the original smart contract address and warn them about fake ones, also do these ..

1. Make sure you token get listed on coinmarketcap, newbies and investors go there to get a token's real smart contract address.

2. Have a bot on your telegram group that warns users once they join the group that fake token is out there and yours is the real one, make the bot drop the real smart contract address for new investors to see.

3. Report fake channels on telegram.

4. If fake token is on coingecko report as well.

Thank you for the help ! You have provided valuable tips!

They haven't cloned the smart contract address, but they created another address with same name and symbol which I thought having two tokens with same symbol wasn't possible either.

Nothing as learning day by day!

[Predict_Vision]

I think it will take time for the community to find your projects to be not scammy.

As you have said, there are a lot of scam projects that really affected those who are legit and offer something different in the crypto space.

So make time be your friend, just try to improved your project, build your reputable slowly and sooner or later you will get the recognition you deserved. Best of luck!!!

Indeed! Time is our best friend in this case. Not to hurry, build and earn trust slowly is the best option no doubt.

Thank you for tips!

[Godwinpaul]

To be candid,  it takes a whole lot of time and effort to build and manage a project successfully. The fact that others are trying to clone and duplicate your project means that you're doing something right and competitors wants to take advantage of the good name that has been built over time past.

[nakamura12]

To make your investors or token holders differentiate the official token and the fake one is to announce the official contract address of your token and post a new announcement on your social media that there is a clone of your token. If the clone of your token use different network like the scammer use BSC and you guys use ethereum network then you can do it the same that the Network you use is ethereum and not the BSC. For gaining trust from people is through time and effort to attract people and it also depends on the project and it's uses.

[Predict_Vision]

To be candid,  it takes a whole lot of time and effort to build and manage a project successfully. The fact that others are trying to clone and duplicate your project means that you're doing something right and competitors wants to take advantage of the good name that has been built over time past.

We have tried to see the half cup full and we thought the same. No one would like to clone something that someone won't fall for it.

What intrigues me is that I was able to to check the developer contract and saw that he is doing the same for many other tokens using the uniswap protocol.

I have reported it, but not sure BSC will take any actions.

Appreciate your comment!

[Ararbermas]

Hello Everyone,

It's been a great journey building a new altcoin and we have met amazing people and communities through the journey, however we have encountered many scammers on the road as well.

We avoided most of them, until recently we have discovered that our token was cloned in the BSC with same name and same token symbol which we thought wasn't possible.

One of the most difficult part is to earn the community trust as there are many scams out there and they are getting better and sophisticated.

So, we are guilty until we prove we are not.

Just want to start the discussion to understand the best ways to differentiate yourself from the fake's and scams and learn from everyone.

Thanks!

For the safety of your investors and community spread the information immediately in your social media if however you see something suspicious and trying to copy your token in the market.

don't wait for them to fell in it because its abig issue about your project.

Actually its very come on the space so you better acknowledge them immediately which is the right site and groups to visit and of course the correct contract address of your project.

If want to protect your reputation and the image of your project always remember the safety of your investor and make it as your priority..

[Predict_Vision]

To make your investors or token holders differentiate the official token and the fake one is to announce the official contract address of your token and post a new announcement on your social media that there is a clone of your token. If the clone of your token use different network like the scammer use BSC and you guys use ethereum network then you can do it the same that the Network you use is ethereum and not the BSC. For gaining trust from people is through time and effort to attract people and it also depends on the project and it's uses.

Thank you for your comment!

We already did the announcements, unfortunately still few check the contract address or are aware that it is important. Many new investors entering the marketing and for those we feel sorry when they get scammed for their hard earned money.

What's upset us is that the scammer made whole lot money than us!  
 

[Predict_Vision]

Hello Everyone,

It's been a great journey building a new altcoin and we have met amazing people and communities through the journey, however we have encountered many scammers on the road as well.

We avoided most of them, until recently we have discovered that our token was cloned in the BSC with same name and same token symbol which we thought wasn't possible.

One of the most difficult part is to earn the community trust as there are many scams out there and they are getting better and sophisticated.

So, we are guilty until we prove we are not.

Just want to start the discussion to understand the best ways to differentiate yourself from the fake's and scams and learn from everyone.

Thanks!

Spread it immediately for the safety of your investors and community if you see something suspicious and trying to copy your token in the market, wherein let them know and don't wait for them to fell in it.

Actually its very come on the space so you better acknowledge them which is the right site, groups and of course the contract address of your project to protect yoru reputation and the image of your project.

Thank you for your advice!

We did it already, unfortunately we came to know about it a week later.

I can say that the scammer was very professional and knowledgeable. He built everything and listed in a DEX for exactly one hour, raised quite amount of money and then burned all the tokens and disappeared.

[nakamura12]

Thank you for your comment!

We already did the announcements, unfortunately still few check the contract address or are aware that it is important. Many new investors entering the marketing and for those we feel sorry when they get scammed for their hard earned money.

What's upset us is that the scammer made whole lot money than us!  
 

Even though it is late that some investors you had have been scammed but it would be best if wherever you promoted the site then there's always a warning. Most project have this kind if warning where they always put first about the token and the site. It is also important to announce where to buy a crypro enthusiast can buy the token but only on your site and also inform your investors and holders that token cannot be traded or sold in an exchange. It is more like locking the tokens before it can be sold or traded. When did it happen? Is it after the token being launched or right after the token listed?.

[cryptoaddictchie]

Just want to start the discussion to understand the best ways to differentiate yourself from the fake's and scams and learn from everyone.

It does important to showcase your platform clearly. Fakes cant be avoided but to be legit one, you needed to inform the community by all means all details of your project and dessiminate information through your community properly. There are plenty of ways to do that and make sure that your details are well pinned to your medium outlets or else the fake one can overtake your platform.