How to avoid a scam project?

[Furious 7]

The scam project are really big problem in cryptocurrency industries market, because many projects has come up with difference promise and end up being a scam project, just a few are legit, and to avoid a scam project, is to follow up the successful once that are succeeding in the industry before investing or joining.

Actually there is something much simpler than that because by not caring about existing projects, you can indirectly minimize and even block it.
I know that not all new projects are scams but judging by the current conditions, the majority of them are scams and that is a foregone conclusion.
When you see something like this, if you really don't want to get caught up in it and don't want to be bothered with research or research that is being carried out continuously, why not just cut it short by not doing that and not touching on new projects.
It can release you from all possibilities regarding fraud, although in this case there are risks that still have to be taken, such as we don't get any benefits when there is a new project that is really good.
But I think it's still worth it because as long as we focus on the original goal, it doesn't matter.

[usekevin]

Now the most of the altcoin was short run one,the people who had invested for the longer period will get scammed at the last.This attitude change should be done by the most of the project.Because it also affect the new emerging good project,this affect the name of the entire altcoin market and demand in the market.This is one of the main reason for the traders to move towards the bitcoin from the altcoin market.Because we was assured that the bitcoin will sure for the next decades,the price of the bitcoin will move to the 100k in a decade and people need of bitcoin in the high level as compared to now.

[ningrum]

The scam project are really big problem in cryptocurrency industries market, because many projects has come up with difference promise and end up being a scam project, just a few are legit, and to avoid a scam project, is to follow up the successful once that are succeeding in the industry before investing or joining.

Basically it's not that easy to avoid and we need definite effort,
I think it's so important to do in-depth research because that way you can at least minimize,
what is clear is that we must always be careful and consider many things before joining a project.

[Wakate]

The scam project are really big problem in cryptocurrency industries market, because many projects has come up with difference promise and end up being a scam project, just a few are legit, and to avoid a scam project, is to follow up the successful once that are succeeding in the industry before investing or joining.

There are many ways we can identify spam project if we are ready to make proper research in the cryptocurrency market. There are people in the market that are ready to build scam projects in order to steal from innocent investors that are always not ready to carry out research that will make them identify projects that are not going to survive in the market for a long time.
There are a lot of rug pulled projects that had scammed investors because they think during proper research is unnecessary with the urge to double there capital funds. We need to take a close look into the market so we can make scrupulous decisions.

[loopes]

Identifying a good crypto project or a scam can be a difficult task, as the crypto industry is constantly evolving and new projects are emerging every day. Here are some steps that can help you avoid fraudulent projects:
-snip-
4. Review the credibility of the development team: Ensure that the development team has sufficient credibility and experience in the field of crypto or blockchain technology. Review the backgrounds and experiences of team members to ensure that they can develop and execute projects well.-snip-

i agree with you, analyzing background's team aspect is one of most important things to do to avoid a scam project. but what do you think if you find credible tim inside the project, it seems good at initial phase of sales, but time by time the project goes to be a scam project. Do you remember Terra Luna?  this is what i am talking about.. I means not every credible team inside a project will guarantee the legitimate of the project.

[JayTrain]

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.

It's important to do your own research before investing in any new project, especially in the cryptocurrency space where scams are unfortunately common. Look for transparency in the project's team and development roadmap, and be wary of promises of unrealistic returns or overly aggressive marketing tactics. It's also helpful to seek out community discussions and reviews from trusted sources before making a decision. By sharing our experiences and knowledge with each other, we can better navigate the often murky waters of the crypto world.

[uneng]

If you want to avoid scam projects just invest in solid cryptocurrencies, mainly in Bitcoin. But if you still want to try something new in order to find a gem that can boost your profits to the moon, make sure to avoid projects which doesn't have any reason to exist at all or that don't bring any new feature, usage or concept to its adopters. Potential usages which don't make any sense in a practical way must be avoided as well.

Moreover, don't invest in a cryptocurrency just because it's pumping. Make sure there is a valid reason why that crypto is gaining more price, besides solely speculation. This way you avoid one of the most dangerous scams of the industry: the pump and dump schemes.

[CreativeCat]

To avoid falling for a scam project, it's crucial to conduct thorough research and exercise caution. Start by researching the project and its team members. Look for information about their experience, credentials, and past projects. Scrutinize the project's whitepaper for clear goals and a realistic roadmap. Analyze the community and online presence to ensure genuine engagement and transparency. Check for reputable partnerships and endorsements. Finally, assess the project's technology and code for authenticity. By following these steps, you can minimize the risk of getting involved in a scam and protect your investments.

[petulino]

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.

A lot of projects are launched on a daily basis, most of which later either fail or become scams.There are some projects which give you profit on daily basis but there you have to make some investment.And you are also told that if you refer your friends, you are also rewarded for referrals.Such projects are often scammed later.

Whenever a new project is launched, its complete documentation should be read.you should also check the form on his social media to see how many followers project has and whether creator has been updating his project or not.

you should get complete information about the project, what is its future use case and for what purpose it is designed.The goal is to do proper research before investing.There are some sites that create a lot of hype.And then people put everything on them by blindly trusting them.

[lepbagong]

Now the most of the altcoin was short run one,the people who had invested for the longer period will get scammed at the last.This attitude change should be done by the most of the project.Because it also affect the new emerging good project,this affect the name of the entire altcoin market and demand in the market.This is one of the main reason for the traders to move towards the bitcoin from the altcoin market.Because we was assured that the bitcoin will sure for the next decades,the price of the bitcoin will move to the 100k in a decade and people need of bitcoin in the high level as compared to now.

most of it is of course according to what you said, new projects are only short-term oriented, looking for momentary profits and don't want to try to develop which is of course very difficult and requires large funds. faster completion and create new projects to find investors are in great demand at this time, easier to make profits.
actually it's better to invest in altcoins that are already on the market such as BNB, because the risk of loss is smaller, or as you say placing funds in bitcoin.

[BobK71]

Those who try to bring good projects in cryptocurrency are hampered by some scam projects. Crypto scammers targets always existed in the crypto market. They always try to create various scam strategy to empty the pockets of investors. But in recent times people's interest in crypto increasing, they are getting better knowledge about how they can protect their wealth and they are also taking necessary measures. Now scammers will not be able to make scam trap easily. But a positive point here is that projects that are relatively weak will not survive in the market. Early identification of a project is very difficult so one should not invest in a project until there is 100% certainty about it. I think it's worth investing in altcoins that are already in a good position.

[huu78]

Take the time to research the project and the team behind it. Look for information about the project's goals, technology, and use cases. Check the team's background and experience, and make sure they have a solid track record in the industry.

[woez]

Identifying a good crypto project or a scam can be a difficult task, as the crypto industry is constantly evolving and new projects are emerging every day. Here are some steps that can help you avoid fraudulent projects:

1. Do some research: Find out as much as you can about the crypto project you are interested in. Read the whitepaper, check the background of the development team, check the project roadmap, and see if they have the backing of a trusted investor. The more information you get, the better you can evaluate the crypto project.

2. Review tokenomics: Examine how crypto project tokens are distributed and what benefits these tokens provide. Make sure that the project has a reasonable business model and is not too profitable for the project founders, investors or other parties.

3. Evaluate the whitepaper: Read the whitepaper carefully and check if the project has innovative features and technologies. Make sure that the whitepaper doesn't just contain big promises and obscure technical terms, but provides a clear understanding of the project.

4. Review the credibility of the development team: Ensure that the development team has sufficient credibility and experience in the field of crypto or blockchain technology. Review the backgrounds and experiences of team members to ensure that they can develop and execute projects well.

5. Review project reputation: Find out if the project has a good or bad reputation in the crypto community. Ensure that the project is not associated with any fraudulent, illegal or other fraudulent activity.

Keeping yourself up-to-date on developments in the crypto industry is also very important. You can read the latest crypto news, follow the official social media accounts of the crypto project, and participate in discussions in crypto forums and communities. The more information you get, the easier you can identify a good crypto project or a scam.

Yes. Exactly., it is so striking that the steps presented/listed are generally good suggestions for identifying fraudulent projects in the cryptocurrency industry. Conducting thorough research, evaluating tokenomics and whitepapers, reviewing the credibility of the development team, and assessing a project's reputation are all important steps that can help investors make an informed decision and minimize the risk of falling victim to a scam.

[Bitcoin_people]

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.

Constantly new projects are seen in the forum but many of them are scams and many projects are good. Among them, there are ways to identify the good projects and invest in the projects later on. To identify the scam projects, you should follow their website white paper and various social media to see that all are fake. But in the case of a good project, if you follow them, you will see that their website and various social media are original and there will be a lot of advanced. So you need to watch everything carefully and avoid scam schemes later. And follow all these things and work on good projects then you don't have to connect with scam projects in future.

[arufox]

It's not easy to avoid scam projects, especially for those who are beginners. However, at least one of the steps to avoid fraudulent projects is by DYOR. You must have an understanding of a project. Therefore, always seek information before deciding to invest in a new project. In particular, you should know the team behind it, read the whitepapers, and see the project's activity. Thus we can evaluate whether a crypto project is safe or not.

[Rasa nanas]

it is very difficult to answer this question because scam projects and failed projects are different.
but just try to play in the telegram group and try to ask about something you suspect or something you don't understand about the project. if you get an answer and you think it makes sense it means the chances of scam are getting smaller, but if you get an answer that doesn't make sense or even you don't get an answer and you have doubts you should leave the project.

[Mr.sprin]

Nowadays it's getting harder to avoid scam projects because scam project makers are getting smarter and they even promise in their tricks to predict token prices when they are marketed at high prices and they make fake sales. They deliberately trick the market to seek profit from investors.

[mdzahed134]

I think it’s really difficult to detect a SCAM project in the current market because many scams project around us, so if you're a beginner then it will quite difficult to avoid SCAM project. Whatever, first of all you should research about their use cases then team and partnership is also important, then roadmap, and tokonomics etc.

[|MINER|]

Snip.

Now a days, most of the new projects coming up are scams. In other words, the amount will increase as the days go by. Now the situation is such that it is better for us to refrain from investing in new projects. But if someone wants to invest then I would say it is better to invest less in new projects rather than invest more in new projects. And it is really difficult to find out which project is a scam. The first thing to identify most of the scam projects is the APR they are offering, most of the scammer projects offer higher APR to attract people. Moreover, other things like where they got their license from and idea about their project team etc. can at least infer the authenticity of the project.

[loopes]

it is very difficult to answer this question because scam projects and failed projects are different.
but just try to play in the telegram group and try to ask about something you suspect or something you don't understand about the project. if you get an answer and you think it makes sense it means the chances of scam are getting smaller, but if you get an answer that doesn't make sense or even you don't get an answer and you have doubts you should leave the project.

This topic is literally discussing about the scam project that threaten everyone who involve to the crypto currency, especially for a newbie who is new to the world of crypto currency and do not have enough experience. Failed project is not a scam. they just can not reach their goals. Not reaching their goal is not a crime. But both those scam project and failed project will affect to lose your money.