How to avoid a scam project?

[TastyChillySauce00]

If you are smart enough and it's very easy to avoid the scam projects. These things are always related to the scam projects

- offering to good to be true promise
- it has horrible tokenomic
- anon dev or the dev has not been doxxed
- its group was full with bots

I think that those things are enough to be used as a way to determine whether that was a scam project or not. You can even explore more to know what kind of project that potentially to be scam project.

Theory itself is not enough but you shal try to implement it in your real life.

[Andrija Branislav]

If you are smart enough and it's very easy to avoid the scam projects. These things are always related to the scam projects

- offering to good to be true promise
- it has horrible tokenomic
- anon dev or the dev has not been doxxed
- its group was full with bots

I think that those things are enough to be used as a way to determine whether that was a scam project or not. You can even explore more to know what kind of project that potentially to be scam project.

Theory itself is not enough but you shal try to implement it in your real life.

True, simple advice I think is very appropriate especially for beginners to avoid fraudulent projects like you mentioned by looking for warning signs as written above what I don't like the most is the last point the project's online community is filled with bots or fake profiles.

[el kaka22]

The easiest way to do it would be making sure that you are doing the right thing by checking it twice. If you ask around, talk to people who are both in the community of the scam project but also out, learn why someone invested into it, and learn why someone would never invest into it, and compare the logics about it.

Someone who would never invest into it will tell you all the reasons why you should avoid it, if it makes sense and you feel like you should avoid it as well then you are going to be fine, but if it doesn't make sense and you feel like you should not avoid it, then it may go towards the other side, for that you talk with someone who already invested into it and learn their reasons, if that makes sense and you feel like you should too, then you could start to put a bit in there.

[touseefahmad1999]

Yes, it's true that there are many new projects launching in the cryptocurrency space every day, and it can be challenging to distinguish between good projects and scams. Here are some tips that can help identify potential scams in the cryptocurrency space:

Do your research: Before investing in any project, it's essential to do your research and understand the project's fundamentals, including its whitepaper, team members, and roadmap. You can also check out the project's social media channels and online forums to gather more information and feedback from the community.

Check the team's background: It's crucial to research the project's team members' background and experience. Look for projects with a reputable and experienced team that has a track record of successful projects.

Analyze the project's technology: Check the project's technology and its potential for innovation. Be wary of projects that promise unrealistic returns or use buzzwords without any substance.

Evaluate the project's community: Look at the project's community and its engagement. A strong and active community can indicate a healthy and legitimate project.

Be wary of promises: Be cautious of projects that make grandiose promises, such as guaranteed returns or high profits. No investment is entirely risk-free, and high returns often come with high risk.

[SmartGold01]

From my view and very best understanding on how long I have spent here it's hard to detects the real project or the scam project. First there is no internal communication or mind sharing to know what they had internally because it's very easy for some project owners to show their faces and draft all forms of lies to come deceive their investors, within yourself your are convince of them being good project. Believe me or not the fake projects are they ones who tried to make their project looks authentic and very unique for investors to be convinced and invest their funds. Secondly when ever the projects team began to lock their telegram group then you should know you have been scammed they did that for questions not to be much on them.

[Cornia]

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.

Research should be done first to know about any project. Then you will understand that is it a good or scam project. Some of the features of Scam Project are:
1. Fake team members.
2. Shaddy roadmap.
3. Plagiarized whitepaper.
4. Fake followers in social media etc.

[gunhell16]

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.

I have seen many people who made guidelines here in the forum on how to avoid scam projects. And I think you are not reading properly here on the forum platform and you are just making a topic without thinking carefully.

Everyone knows what to do first so that you don't become a victim of scam projects. And that is nothing but applying dyor {do your own research}.

[domoy77]

Research should be done first to know about any project. Then you will understand that is it a good or scam project. Some of the features of Scam Project are:
1. Fake team members.
2. Shaddy roadmap.
3. Plagiarized whitepaper.
4. Fake followers in social media etc.

Some of the points already mentioned are the important analysis of reviewing new projects to avoid scam projects and we can never be deceived by hype coins offering high profits, so we often review new projects so without doing a deital analysis we can already distinguish potential coins or scam coins, especially reviews on project website, technical posts on social media, active members on telegram, and trusted project partners.

[Yatsan]

Unfortunately,you will only know a project would be a scam once things are indirectly announced by the project itself; sudden inactivity, and other rugpull related actions by the project itself. So I'd say there's no way to really avoid such kind of projects but there is for sure a way to lessen the risk falling for this scheme. Do a background checking for people behind the project including its team and also overall popularity of the project. On my end, I tend to read articles about a project of interest in order to help me decide wether I would engage into it or not. I also do tend to read news and other related projects to that project in particular which somewhow for me, adds to project's credibility.

[Dessy88]

In fact, it is difficult to choose which project will scam because many times it is seen that the best projects suddenly become scam. But we always want the best project to invest and you should be wise. At least how fast a project's development organization is can tell the future of the project. All the tasks they promised should be done on time and how professional the CEO is that project.

[Shamm]

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.

As of now yes you are right there are many projects has neem launch yet but we don't need to trust them all it because some of them are scammed project maybe it will work a couple months but in the end they will leave you empty handed so we need to be careful dealing with projects. And there's only way to find out if they are scam or not do a research deep more and for sure we will know how does the project go.

[amihada]

for those who have joined the bitcoin talk project, of course they are no strangers to scam projects and surely you have been trapped in this project. I have experience joining a new project and at that time I was very disappointed because I had high hopes for that project. Now, when I join the project, I see that the manager is a habit. If the manager is big and has handled many projects, there are rare projects that are scams, but if the manager is new, there is a possibility that the project will fail or be scammed.

[Ziskinberg]

The easiest way to do it would be making sure that you are doing the right thing by checking it twice. If you ask around, talk to people who are both in the community of the scam project but also out, learn why someone invested into it, and learn why someone would never invest into it, and compare the logics about it.

That is why I don't want to get involved in a community in a certain project that only talks about a positive view as it only influences my mind to invest with them and take our money. Because these scammers will hire influencers to promote their project, perhaps they are very convincing which is why many people had fallen into investing in the wrong projects. To avoid scams we must have to do thorough checking, particularly the nature of this project and how functioned. No working product is barely not going to succeed and a scam is very possible to happen.

[sulendra12]

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 difficult thing about recent new projects are that even though they look legit at first, but at the end they could turn away from you 180° and then scammed you off. It's been a trend in recent new projects, starts from they fail to maintain the price so they abandon the project they already fulfilled the "goal", bad project teams, scammers, etc.

You can start to check from the whitepaper, the legitimacy of those people that working as a team(they could impersonate as famous person out there just to scam you), the usage of that project, etc. It's started from reading it carefully and you will know the pattern that differentiate between good and bad projects.

[Huppercase]

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.

When you are searching for a project to invest but scared, there are many red flags to look out for, but their presence does not guarantee complete satisfaction with the project. If you are unsure about a token's transparency when making a purchase, you should investigate the team's background to determine if they are legitimate and worthy of investment, or if you should move on to the next project.
You should also verify the authenticity of the project to ensure that it is not just hype, but a valuable asset that can withstand market fluctuations in both bullish and bearish conditions, especially if you plan to hold it for a long period of time. Finally, you should also review token allocations to ensure that the team does not scam you by selling all of the tokens and then later run away.

[carlfebz2]

Yes, it's true that there are many new projects launching in the cryptocurrency space every day, and it can be challenging to distinguish between good projects and scams. Here are some tips that can help identify potential scams in the cryptocurrency space:

Do your research: Before investing in any project, it's essential to do your research and understand the project's fundamentals, including its whitepaper, team members, and roadmap. You can also check out the project's social media channels and online forums to gather more information and feedback from the community.

Check the team's background: It's crucial to research the project's team members' background and experience. Look for projects with a reputable and experienced team that has a track record of successful projects.

Analyze the project's technology: Check the project's technology and its potential for innovation. Be wary of projects that promise unrealistic returns or use buzzwords without any substance.

Evaluate the project's community: Look at the project's community and its engagement. A strong and active community can indicate a healthy and legitimate project.

Be wary of promises: Be cautious of projects that make grandiose promises, such as guaranteed returns or high profits. No investment is entirely risk-free, and high returns often come with high risk.

This might be little derailed topic but i do know on what are those common factors or criterias which you would be needing to check it out even when you do deal up with degen or shit coins in the market.
Im also a fan of making myself some investment into those meme coins which are mostly been listed on Poocoin or simply with DEX on which prices are really that into their lowest or start up
which it would really be a hit or miss and in speaking about scam projects then there are lots into this kind of space but somewhat if you do able to hit up the right one then it could bring out 10-30x easily or more.
Basing up on the hype and marketing of a certain project.

Thing here is that you should really be knowing first on whats their real use case. Sometimes those having zero tax tokens are really indeed that getting that much attention
but there are moments that even 10/10 is really that being considered out when it comes to buy and sell taxes which i could say its too much but
when we do speak about earning on reflections then it is really that worth.

[Mehedi72]

Its a very hard and lengthy process to find out the purity of a project..you need to read the whole whitepaper to understand them and check if its plagiarism or not. Then check out team members, are they real? Imagine search them on Google as well as analysis their profile, check out their purpose and their social media  if they are using fake followers or not. And so many things you should have to notice to find them out

[Silberman]

Its a very hard and lengthy process to find out the purity of a project..you need to read the whole whitepaper to understand them and check if its plagiarism or not. Then check out team members, are they real? Imagine search them on Google as well as analysis their profile, check out their purpose and their social media  if they are using fake followers or not. And so many things you should have to notice to find them out

While most projects will fail your due diligence in a matter of minutes, when you consider there are thousands of coins out there suddenly the task of finding a good project seems incredibly daunting, and even if you find a coin that eventually pass all your tests instead of being happy of finally finding a coin that did, you will be suspicious about it, after all if you can check all of those things then it is possible for the developers of that coin to find a way to fake all of that information, pretend to be a legitimate project and still be a scam at heart.

[naikturun]

Whitepaper: Read the project's whitepaper to understand its goals, technology, and use cases. Look for a clear and concise explanation of the project's mission, how it works, and what problem it aims to solve.
Team: Research the team behind the project. Look for their experience, credentials, and track record in the industry. Check their social media profiles and professional background to see if they have a history of involvement in reputable projects.
i think 2 of this is the most important thing, there are still many clue but you must focus more on this and check it very specific.

[loopes]

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.

Based on my experience, some times we do not know certainly or be sure one hundred percent on projects that have analyzed by us. Even if the projects completely meet to all of aspects that we have analyzed. But at least we should keep analyzing the projects what would happen in the future regarding to the legitimate of the project. We can follow this step: 

• First of all, Read the white paper of the project care fully. What is the goal of the project, vision of the team, how the core business works 
• assess the claims that were mentioned on the white paper.
• Looking carefully at the team behind the project and how their background. 
• asses how feasibility of the project. Their promised return of investment is achievableor not