How to avoid a scam project?

[cute nmp]

It is very hard to avoid a scam project nowadays cause there are so many of them.One has to be very careful and make a very good research before investing in any project.You can check the website, whitepaper and find out more about the team.What are the project goals and how they planned to achieve the goals and maintain the project in the long term run.

[abel1337]

I advise you to look at various reviews from experts in the crypto field. In my view it's a little difficult to see if the project is a scam or not. I don't understand how scammers work but what I see is they offer amazing numbers. They offer amazing returns that are earned in no time.

Correctly detecting the project is a scam or not is not an easy matter,
even if we have done research I don't think it's a guarantee either,
maybe we need to consider a lot of good things on the results of our own research and advice from experts.

Of course there's no guarantee but the purpose of research is lessening the risk or eradicating the chances of you getting scammed by obvious scam projects. If you saw that a offer is just too good to be true, dodge it asap. If you found a project that has a good front cover but you see a red flag upon researching, research more about it until you can't stand all the red flag and dodge again. Find a project that can make you satisfied on what they offer and their goals. You as an investor, It is responsible for avoiding scam project and regretting falling into one is your own problem. I hope people knows this since I've seen this kind of thread for so many times now.

[carrie_white]

check everything about the project, but even so, you still can't guarantee 100% that the project isn't a scam project, because it's very difficult to determine whether the project is a scam or not, my advice is don't use all your savings just for crypto projects

[Cling18]

check everything about the project, but even so, you still can't guarantee 100% that the project isn't a scam project, because it's very difficult to determine whether the project is a scam or not, my advice is don't use all your savings just for crypto projects

Nowadays, even scam projects are innovating. They develop their strategies so they would look trusted and legit that even after doing a series of research, lots of victims still fall for their trap. However, knowing everything about a project will still be a big help for us to notice their red flags. We should check the team behind them, the developers, the purpose of the project, and the reviews and insights of people about it. If you are doubtful of a certain project then don't risk high funds on it.

[Jocuserious]

You should research the team development activists with check there all social media account. If you see unactive social account with no any ido planing then you can avoid the project. Otherwise a trustful project roadmap very promising and there team management activity also good. There are many new project so don’t invest with research first them.

[Japinat]

I advise you to look at various reviews from experts in the crypto field. In my view it's a little difficult to see if the project is a scam or not. I don't understand how scammers work but what I see is they offer amazing numbers. They offer amazing returns that are earned in no time.

Correctly detecting the project is a scam or not is not an easy matter,
even if we have done research I don't think it's a guarantee either,
maybe we need to consider a lot of good things on the results of our own research and advice from experts.

Nothing is guaranteed whether if the project is good or bad, that's for sure, it's all the same but the risks entailed on it is not.

Even if we did our own intensive research and asked a lot of experts in the field, it will be the same, and we'll end up on the same risks because the outcome is never a guarantee.

Now, why not invest in bitcoin and other top performing altcoin where the risks are somehow minimized rather than risking our funds into a project that is not known and too risky to invest into.

[daenarys_stormborn]

investing in a new project can never guarantee 100% safe, if you want to avoid project scams, invest in bitcoin or other altcoins such as ETH and BNB, this is much safer

[Wakate]

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.

The Best way to avoid scam project is to make sure that we do research and ask thorough questions before we invest in a particular project. It is true that there are different projects that are being launched everyday for the purpose of making money from the market sales. Same thing happens too when scammer launches project to scam investors of there funds when the project is finally launched.
 We need to know what we are doing before we invest in a particular project that we want to hold. There are people that had lost funds due to investing in the wrong project.

[Captain Corporate]

Maybe just don't invest? I do not mean the low level ones, I mean that there are so many high level ones that you could just invest those. Brand new stuff could turn out to be a scam and there are people who keep on investing into those and that just doesn't make any sense to me at all. I prefer to invest into stuff like bitcoin and then you know that you are not going to get scammed. It just doesn't make sense to keep being worried about the fact that it is going to cause a lot of trouble for you if you keep investing on those brand new stuff then eventually you will get scammed, even if you do not get scammed on each one, if you keep doing it, eventually you will do that and there is no point on risking something like that.

[Fesatmas]

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.

You need to pay attention to what they mean, especially the 5W+1H formula, namely what, where, when, why, who and how, ha; I think it's quite effective to assess a project as your initial impression of recognizing it, maybe after that you can see in what it's trying to do/is doing in its work, after that you also have to verify their project's supporters and can also ensure that it's working what they do is real and not a project that relies on sentence structure alone, the average fraud does that.

You can check their website. Compare with some projects that have committed fraud and fraud. Scam projects usually follow the same pattern. They design the website as attractive as possible, make a promotions (possibly using funds from previous scams) and they have incomplete expert profiles and do not have valid records on their information. I advise you to study in this forum the history of projects that have been scammed before.

Yes, we have to analyze it directly and compare it with other projects to catch a conclusion, and we need to make sure that the data that they submit is complete from the developers, it gets +1 trust points, and usually it is like that, the result of past fraud in use it for further scams, so be very careful.

[JayTrain]

Research and due diligence are essential when it comes to identifying new projects. Always do your own research, look into the team behind the project, the technology they're using, their roadmap, and community engagement. It's also important to be cautious of red flags such as unrealistic promises, lack of transparency, and a history of failed projects. Learning from the experiences of others in the community can also be helpful in identifying potential scams or unreliable projects.

[o48o]

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 you have to ask that you are better of not buying new projects. Weeding out scams requires experience about the whole crypto token sale field. Knowledge about the tech and different blockchain solutions that already exist. Knowledge on how to do team and company fundamental research.

Knowledge on how to check if the the code is valid. Knowledge about tokenomics, valuation, and existing scams so you don't need to learn everything from your mistakes.

And even if you know all this you might fell into scam, or make money out of scam. (they sometimes rise as well) So if you are not sure on how to avoid scams, save your money and buy eth and bitcoin.

[goaldigger]

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.

Analyze it well, gather informations about that project and look for its community.
You can easily tell a project is scam by doing this but of course there are professional scammer who makes the project more realistic so there’s still a risk for new projects. If you really want to be safe then invest only on a coins that is already listed in the market.

[lalabotax]

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.

Never trust any project that promise you very high thing. Moreover new projects, if youbare new investors, it is better to stay aaway from this. But if yiu are going to take higher risk, jist use small amount, so if the projects are not successful, yoi are still okay.
Btw, scamers commonly also do their great jobs to make their projects seem like very legit projects, moreover they sometimes also create fake telegram group and other social media to look like real. They also create convoncing Whitepaper and sites. That is why, always be careful and never believe too much in the new projects.

[WalkerIVIV]

only invest in a project coming from developer that seem to have good background like they are alumni of some prestigious university then you will likely encounter good project with such developers.
even better if the project was also funded by the likes of coinbase, and binance.

[Wiwo]

only invest in a project coming from developer that seem to have good background like they are alumni of some prestigious university then you will likely encounter good project with such developers.
even better if the project was also funded by the likes of coinbase, and binance.

It will be hard to fine such types of developers in the market today as most of them are already engaged with one project or the other that are already gaining reactions, most of the developer that are launching new projects lately I most likely to be newbies in the business without any experience unless the old timers that want to break away from their current project to start up a new one which may likely not be a success as per se on the long run.

[milewilda]

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.

Never trust any project that promise you very high thing. Moreover new projects, if youbare new investors, it is better to stay aaway from this. But if yiu are going to take higher risk, jist use small amount, so if the projects are not successful, yoi are still okay.
Btw, scamers commonly also do their great jobs to make their projects seem like very legit projects, moreover they sometimes also create fake telegram group and other social media to look like real. They also create convoncing Whitepaper and sites. That is why, always be careful and never believe too much in the new projects.

One of the shadiest things that you should see this as a red flag already on which devs are telling about some projection of huge or high value or prices for the project outcome or value in the future.This is something
that you should really be that wary and be avoiding on things and this alone would really be that signifying that you are dealing with a scam project. Always DYOR and making your in depth analysis and research
about the project. Its not only just reading up its roadmap or whitepaper but also trying out to study their codes or contracts whether there's some shady inside is happening
like those buy and selling contract integrations which slowly shows up some rug pull specially if the coin is still on dexes.

only invest in a project coming from developer that seem to have good background like they are alumni of some prestigious university then you will likely encounter good project with such developers.
even better if the project was also funded by the likes of coinbase, and binance.

It will be hard to fine such types of developers in the market today as most of them are already engaged with one project or the other that are already gaining reactions, most of the developer that are launching new projects lately I most likely to be newbies in the business without any experience unless the old timers that want to break away from their current project to start up a new one which may likely not be a success as per se on the long run.

Most of projects do run into those unknown or anonymous devs which its really hard to trust up and fund up with these kind of projects. You cant really be able
to come after of your funds once you had been scammed. In todays time where lots of scam projects had been existing where rug pulls are common
and scamming away investors is really not that something new.

[bitkanu]

you could literally just invest in the verified project under the IEO of famous exchange like binance and even kucoin and you're set.
those projects have been carefully reviewed and meticulously selected best among the other and will definitely have good future than the rest.
but there also come downside of it usually you get your investment locked for centuries which potentially make you lose your chance of gaining profits.

[Wiwo]

It will be hard to fine such types of developers in the market today as most of them are already engaged with one project or the other that are already gaining reactions, most of the developer that are launching new projects lately I most likely to be newbies in the business without any experience unless the old timers that want to break away from their current project to start up a new one which may likely not be a success as per se on the long run.

Most of projects do run into those unknown or anonymous devs which its really hard to trust up and fund up with these kind of projects. You cant really be able
to come after of your funds once you had been scammed. In today's time where lots of scam projects had been existing where rug pulls are common
and scamming away investors is really not that something new.

Some of the shady projects may even make their team member identity unknown or use a fake team just to lure potential clients, this is popular among most recent projects that are busted for scams in various degrees, so I won't take team and developer as a best standard practice to know a reputable and potential project.

If I must invest in any project, what I normally do is to make sure I follow up with the project right from its token sale era till it gets listed on multiple exchanges and gains traction with enough volume before I buy some and hold for a while and that is subject to what their usercase are and what proven real-life problem there have solved.

[rhomelmabini]

TBH, I can't consider projects like FTX or Luna to be scam projects, because here we are talking about something more specific like a planned scam. FTX or Luna can be described as an accident rather than a (planned) scam. [If you know the actual chronology of the 2 big projects].

For FTX I think it was just some bad decisions internally andfor Luna I don't think that was just accidental. Do Kwon was likely being hideous that he really is planning to scam his investors, there has been some signs that it was an obvious scam, I just can't remember that twitter thread anymore though, it was likely the same thing with Bitconnect. Moreover, I don't think there's something as accidental, if they scam people then they're scammers.