How to avoid a scam project?

[Amejoaquim]

I have a simple things to do for avoid a scam project, this is what i do:
1. If the project don't have whitepaper i'm not gonna invest on that project.
2. Anonymous teams. I don't buy in to anonymous teams' projects.
3. Teams that have faces attached to them. Go to google images and reverse-trace the images. Then you can decide it fake or not.

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[Smitty Werben Man Jensen]

There are so many new projects launching everyday and some of them can be good and some of them can be a scam as well. How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.

For me, it is very difficult to distinguish whether a project is a scam or not. Because many of the projects I participated in turned out to be scams. But he said there is a way to find out about scam projects. People say we should read their websites and white papers. We have to research many projects in order to know the characteristics of scam projects.

Website, white paper and community are very important to see whether the project can potentially be a scam or not,
there are lots of new projects and ending scams because the community is small and the website does not display information related to the team,
so this is why I have a third opinion that you should research first.

[arufox]

Indeed, everyone always wants to avoid fraudulent projects. However, avoiding fraudulent projects, especially new projects, is not easy. Moreover, day by day the fraudsters are increasingly sophisticated in presenting new projects to attract investors to invest so that their goal is to get money from investors. Therefore, before investing in a new project, we must be able to carry out an in-depth analysis and must be prepared for all risks.

Fraudsters/scammers become smarter or more sophisticated because people are aware of their actions. If they did the same ways, people will be easier to identify them. So, we shouldn't be so surprised if they improve their ways, too. However, scam/fraudulent projects must have suspicious parts, we just need to find out the parts by analyzing them deeply. If we can't find suspicious parts on a project, we can assume it is a real project.

To analyze, we must evaluate the whole of a project. Check the WP, their social media, their official site, team members, and the legalization of the project itself.

I agree with you that over time the scammers will get smarter by using all kinds of methods. Therefore, besides we have to analyze in-depth on a project we also have to have the courage to face the potential risks that can be experienced. In addition, never invest in a project just by looking at the benefits offered, you must be able to evaluate team members, white papers, and so on.

[marcous]

I agree with you that over time the scammers will get smarter by using all kinds of methods. Therefore, besides we have to analyze in-depth on a project we also have to have the courage to face the potential risks that can be experienced. In addition, never invest in a project just by looking at the benefits offered, you must be able to evaluate team members, white papers, and so on.

Scammers have good knowledge to develop projects based on hype from crypto community, but they are very greedy to deceive investors of every new project to steal fundraising on token sale and they don't report the use of funds so it is high risk of investing with new projects, so it is better to avoid project investment new to reduce the risk of loss because even though the project partnered with a popular exchange does not guarantee future profits.

[FahriZah]

At the moments find out scam projects is very difficulties because now launching huge priject and first of all need to verifying what is the project teams mission and what are Doing thire and active sicial media like twitter tweets,telegram chat group response and others social media activities.

[cute nmp]

So many scam projects out there one has to make very good research before investing in any project to avoid been a victim of scam.The market is full of scam one need to be very careful to avoid loosing their funds.

[bayudndy]

It's important that you pay attention to what you're doing. If you really care and pay attention, it will become easier to distinguish real projects from real scams. Therefore, it is necessary to have a good knowledge base to be able to protect yourself and avoid the risks that scam projects pose. Research what investment projects are doing as well as how their progress is. Analyzing them and comparing the results of discussions with others can further enhance your verification assessment. However, no single precaution can provide absolute protection, but staying up-to-date, conducting thorough research, and being vigilant about projects can greatly reduce the risk of becoming a victim of scams.

[AakZaki]

It's important that you pay attention to what you're doing. If you really care and pay attention, it will become easier to distinguish real projects from real scams. Therefore, it is necessary to have a good knowledge base to be able to protect yourself and avoid the risks that scam projects pose. Research what investment projects are doing as well as how their progress is. Analyzing them and comparing the results of discussions with others can further enhance your verification assessment. However, no single precaution can provide absolute protection, but staying up-to-date, conducting thorough research, and being vigilant about projects can greatly reduce the risk of becoming a victim of scams.

Doing research as you describe I might have done. In the past there have been many successful projects even without doing research because very few scammers have appeared. But the longer time and crypto started giving good profit, many scammers started to appear. It takes extra effort to do research, sometimes the research that is done produces good grades, but in the end the project that is followed is still a scam and deceives many people. This is a risk that could happen to anyone.

[Furious 7]

So many scam projects out there one has to make very good research before investing in any project to avoid been a victim of scam.The market is full of scam one need to be very careful to avoid loosing their funds.

Even though paying attention to these conditions is a good thing because we are looking for and researching first whether this will end in a scam or not but on the other hand it is too time consuming in my opinion especially by doing something like this does not mean you will not be scammed in the end because of the possibility it is always there as long as you are struggling with new projects that are not clear.
The current condition is when we search every day, it's not even certain that we will find 1 good project in a day with the many fraud conditions currently.
The simplest way is to avoid it for whatever reason. Even though in the end we will be a little closed with a good new project but as long as we believe in what we are doing and want to be free from fraud I think it's not a problem.

[JeffBrad12]

It's important that you pay attention to what you're doing. If you really care and pay attention, it will become easier to distinguish real projects from real scams. Therefore, it is necessary to have a good knowledge base to be able to protect yourself and avoid the risks that scam projects pose. Research what investment projects are doing as well as how their progress is. Analyzing them and comparing the results of discussions with others can further enhance your verification assessment. However, no single precaution can provide absolute protection, but staying up-to-date, conducting thorough research, and being vigilant about projects can greatly reduce the risk of becoming a victim of scams.

Doing research as you describe I might have done. In the past there have been many successful projects even without doing research because very few scammers have appeared. But the longer time and crypto started giving good profit, many scammers started to appear. It takes extra effort to do research, sometimes the research that is done produces good grades, but in the end the project that is followed is still a scam and deceives many people. This is a risk that could happen to anyone.

that's true that's why it's just somewhat advised to just follow some project that have went under thorough investigation made by some famous company out there.
one way to know is through following IEO in which the project are all carefully selected by the company like the one launching in binance or maybe kucoin. that's only very few company i listed.

after all even with all the analysis if it's done by some individual like us, there are most certainly something that's being concealed, but if it's these big companies which have a team of expert looking out for the project.
then it could be sure that the project itself is under really diligent inspection and the chance of turning out to be scam is slim.

[nur rochid]

So many scam projects out there one has to make very good research before investing in any project to avoid been a victim of scam.The market is full of scam one need to be very careful to avoid loosing their funds.

Even though paying attention to these conditions is a good thing because we are looking for and researching first whether this will end in a scam or not but on the other hand it is too time consuming in my opinion especially by doing something like this does not mean you will not be scammed in the end because of the possibility it is always there as long as you are struggling with new projects that are not clear.
The current condition is when we search every day, it's not even certain that we will find 1 good project in a day with the many fraud conditions currently.
The simplest way is to avoid it for whatever reason. Even though in the end we will be a little closed with a good new project but as long as we believe in what we are doing and want to be free from fraud I think it's not a problem.

people are looking for new good projects aimed at multiplying their money, thus making them rich. however it is difficult to research a new project that is not a scam and has a good future. moreover, we encounter many projects that have convincing roadmaps and in the end are scams, of course it will make us dizzy. I agree, the best way is to avoid it, while investing in trusted coins as if you don't need research anymore, we can buy at any time and wait for it

[Marcorey]

Before investing in or participating in any crypto project, research the white paper and technical background of the project. See if the project has a practical use and value.
Review the project's transparency and public information. Does the project provide a clear roadmap, goals and development plan.

[peschwecks]

So many scam projects out there one has to make very good research before investing in any project to avoid been a victim of scam.The market is full of scam one need to be very careful to avoid loosing their funds.

Even though paying attention to these conditions is a good thing because we are looking for and researching first whether this will end in a scam or not but on the other hand it is too time consuming in my opinion especially by doing something like this does not mean you will not be scammed in the end because of the possibility it is always there as long as you are struggling with new projects that are not clear.
The current condition is when we search every day, it's not even certain that we will find 1 good project in a day with the many fraud conditions currently.
The simplest way is to avoid it for whatever reason. Even though in the end we will be a little closed with a good new project but as long as we believe in what we are doing and want to be free from fraud I think it's not a problem.

people are looking for new good projects aimed at multiplying their money, thus making them rich. however it is difficult to research a new project that is not a scam and has a good future. moreover, we encounter many projects that have convincing roadmaps and in the end are scams, of course it will make us dizzy. I agree, the best way is to avoid it, while investing in trusted coins as if you don't need research anymore, we can buy at any time and wait for it

There is a joke here. Many investors know that it is a scam. Maybe this token will disappear within 24 hours after it goes online. But there will still be a lot of people buying wildly, and no one here cares about screening whether it is a fraudulent project. These people are completely helping the project party to increase the price of tokens for shipment, and of course they also have their own losses. But they don't seem to feel pain.

[Bolivar_Tony]

There are so many new projects launching everyday and some of them can be good and some of them can be a scam as well. How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.

This is one of the most discussed topic in this platform or rather this section, it is kinda easy to avoid scam project, Most scam project come with faceless people, promising huge profit and returns, And for me one of the ways I identify good project is by looking at their lead investors, If they have popular lead investors in the project and it's a go for me, though it's not a guaranty because anything can still happen.

[Furious 7]

So many scam projects out there one has to make very good research before investing in any project to avoid been a victim of scam.The market is full of scam one need to be very careful to avoid loosing their funds.

Even though paying attention to these conditions is a good thing because we are looking for and researching first whether this will end in a scam or not but on the other hand it is too time consuming in my opinion especially by doing something like this does not mean you will not be scammed in the end because of the possibility it is always there as long as you are struggling with new projects that are not clear.
The current condition is when we search every day, it's not even certain that we will find 1 good project in a day with the many fraud conditions currently.
The simplest way is to avoid it for whatever reason. Even though in the end we will be a little closed with a good new project but as long as we believe in what we are doing and want to be free from fraud I think it's not a problem.

people are looking for new good projects aimed at multiplying their money, thus making them rich. however it is difficult to research a new project that is not a scam and has a good future. moreover, we encounter many projects that have convincing roadmaps and in the end are scams, of course it will make us dizzy. I agree, the best way is to avoid it, while investing in trusted coins as if you don't need research anymore, we can buy at any time and wait for it

You have to sacrifice something if you really want something else because that's a real choice.
If indeed people who only easily carry out this condition with the hope of getting abundant wealth instantly then of course they also have to be aware of the conditions that will befall one of them being trapped in the project they are participating in and exposed to fraud because no matter how hard they are In researching it, we also don't guarantee that you won't be deceived, because that's just one way to minimize it so that we can avoid fraud.
As for when you don't want to know about all kinds of new projects and don't do anything there and only focus on old projects and invest in certain places like bitcoin then indeed we will definitely avoid new project fraud but with a note if you don't get instant riches from meme projects don't be too sorry.
I prefer the second option in this case because I'd rather be in a definite place for bitcoin than have to go back and forth looking for new projects that are just hit n run.

[capedbaldy]

This is one of the most discussed topic in this platform or rather this section, it is kinda easy to avoid scam project, Most scam project come with faceless people, promising huge profit and returns, And for me one of the ways I identify good project is by looking at their lead investors, If they have popular lead investors in the project and it's a go for me, though it's not a guaranty because anything can still happen.

I often find some of the main investors in ICO projects in the past but because of the high ICO hype, many ICO prices reach 10x profits, but now we rarely see the main investors in new projects and they are already anticipating investing in new projects, many new investors in new projects on launchpad binance because of the guaranteed profit after the token is registered on the trade, at least above reach 20x profit from the capital

[AakZaki]

that's true that's why it's just somewhat advised to just follow some project that have went under thorough investigation made by some famous company out there.
one way to know is through following IEO in which the project are all carefully selected by the company like the one launching in binance or maybe kucoin. that's only very few company i listed.

after all even with all the analysis if it's done by some individual like us, there are most certainly something that's being concealed, but if it's these big companies which have a team of expert looking out for the project.
then it could be sure that the project itself is under really diligent inspection and the chance of turning out to be scam is slim.

IEO is sometimes not so guaranteed if it's only held on CEX which is less popular, but if it's done on CEX Binance there might still be a lot of interest. But of course there will be a lot of competition. Who has more assets then he will have more and more allocations.
Several times I participated in IEO on Binance and of course only a few I got because of the limited BNB that I hold.

[kevinzxz]

There are so many new projects launching everyday and some of them can be good and some of them can be a scam as well. How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.

if my advice, don't immediately invest in a new project, but wait for the project to have progress and run according to the roadmap, so if the project progresses according to the roadmap, then you may invest in the project, because the possibility of the project being a scam is very small or you can see the partner of the project, if the partner is legit and good, then the possibility of the project being a scam is very small, but of course you have to first find out if the partner mentioned in the project is true or fake.

[Smitty Werben Man Jensen]

There are so many new projects launching everyday and some of them can be good and some of them can be a scam as well. How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.

To avoid fraudulent projects is quite easy, it's just that we always forget about it,
the way is to analyze the website, linkedin, github, social media, and the project community,

if everything is good then you can invest on there project,
for example, the team profile is connected to linkedin, github is active, the community runs two directions, and social media is always updated,
so I'm sure the project is also going well.

[blackened515]

if my advice, don't immediately invest in a new project, but wait for the project to have progress and run according to the roadmap, so if the project progresses according to the roadmap, then you may invest in the project, because the possibility of the project being a scam is very small or you can see the partner of the project, if the partner is legit and good, then the possibility of the project being a scam is very small, but of course you have to first find out if the partner mentioned in the project is true or fake.

I've fallen victim of several scammed projects, but giving up is not option, standing back to my heel. Avoiding scammed project is easy, just exercise patience and a thorough research on the project. However there are countless scammed projects out there, we apply caution when investing, any project that doesn't have a solid road map or reasonable trading volume should be consider red flag in the market, but the desperate and greedy traders will always fall victims, simply because they want all the profits for themselves.