How to avoid a scam project?

[capedbaldy]

After our little hard work and research and information we can find good and best projects and protect ourselves from scam projects, because the fraud project team is always very capable, they take people to their side and deprive people of their capital.

We have to do regular research on new projects or weekly, in order to get quick information to avoid rugpull losses because new projects are very close to fraud even top coin projects are also not guaranteed for investment safety.

We have experience from Luna and FTT, so be careful choosing altcoins for your investment list because altcoins are very at high risk of loss because they will be greedy to sell millions of dollars from the team's coin allocation portion and revoke liquidity from dex.

[Blitzboy]

Its Very critical judge a brand new project. greatest roadmap, Promotion by influencers, announcing airdrop with reward can't be trusted.
Now bear is on the trand. So if you want to get yourself out of being scam, just avoid new project. Secondly avoid those old altcoins, which haven’t any potential. But if you are interested with new project then confirm that, they have decent community support. Running Idos, following roadmap and they let you Know their update in time

Just use your common sense.Period!

Avoiding scam projects should really be handled out by your own common sense but here's some basic things to be done.

1. Always DYOR
2. Take some DYOR
3. DYOR all the way

From whitepaper until to the team itself or the relevance or utility of the said project.You should really know its background but somewhat even knowing such stuffs
or situations or things cant really still assure 100% success rate. We do have lots of scam and shit projects in the market which they do eventually die instantly but coming back
on having a brand new name and the cycle continues. These fraudsters does really know that there are dumb investors or to those who do put up money would really be that
too fool on believing that a certain project is really good. This is why they would really be continuing on what  they've been doing.

Totally with you on this! Conducting personal research is like prepping your rocket before a space launch. You wouldn't want to stake your mission (or, in our case, your hard-earned money) based on someone else's groundwork. Shying away from fresh projects might feel like an effective dodge from scams. But it's a bit like avoiding new tech gadgets just because they might not live up to the hype. Some fledgling projects could be the next 'Bitcoin', while others might just blast you off to 'Bankruptcy Planet'. The key lies in picking out the gems from the space junk.

It's the same deal with older altcoins. Some might be as out-of-date as a landline in a world of smartphones, while others might just be in stealth mode, ready to shoot out like a comet when you least expect it. Sure, community backing and consistent updates are like regular systems checks on your spacecraft. They're vital signs of a project's well-being. But always remember the space exploration mantra: trust, but verify. After all, not every shiny satellite is useful, and not...

[LastKiss]

Indeed, there are not a few projects that have a credible team behind them, but in the end the project is a fraud. But at least with a credible team that builds a project, it will gain trust in the eyes of investors. But we must realize that no matter how good a project is and have a credible team, there are definitely risks in investing in crypto currency.

Well, any business involves profit and loss, but the crypto currency market is a very risky market and the risk of loss is high here.If seen, sometimes a very good and big project is also scammed, As the example of Luna and FTT , but in the top and good coins of the market, such rates are very low. There are many projects that are realized at the very beginning that they have no future.

After our little hard work and research and information we can find good and best projects and protect ourselves from scam projects, because the fraud project team is always very capable, they take people to their side and deprive people of their capital.

Yeah, even top altcoins were dumped really hard. We can't predict the future of a new project because in this market its really volatile. If we want to avoid a scam project then its better to invest in Bitcoin rather than look for a new project to invest. I really hate when a project goes scam because the team abandon the project without any real effort.

[arufox]

This Topic Is Very Important Topic And Really Every People’s Need To Know How To Avoid Scam Project And First Of All Need Ti Finding How To Selected Which Projects Are Scam And Which One Real Project Just Need To Use Own Brain And Need To Check And Cross Check Agin.

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.

[davide72]

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 problem is not only scam projects but also all those very manipulated by whales, look for example ICP a valid project listed on Binance the first 2 months I met people who bought them even at 150 dollars each, today they are 5 dollars, many have lost almost all their initial investment

[Iadegbola34]

Consider the following steps to identify legitimate crypto initiatives and prevent potential scams:

1. Investigate the project team’s skills and trustworthiness.
2. Review the project's whitepaper to ensure a strong plan.
3. Evaluate the project's Social Media presence and community participation.
4. Look for recognized collaborations and advisors.
5. Be wary of red flags, such as unrealistic promises or lack of openness.


Participating in forums and learning from others’ experiences may provide significant insights.

[ElmedoRator]

Usually, when a project comes up and you're looking to check it out, do thorough research on the project team and check their track record. Review additional white papers and technical aspects to determine project feasibility and innovation. Additionally, the project's community and social media presence are also good ways to gauge the project's reputation and gauge the level of support and engagement. Also, beware of unrealistic promises and aggressive marketing tactics, as scammers often use these strategies to attract gullible individuals. Finally, make the right decisions based on the information you have learned to decide whether to invest in this project.

[timoshani]

Its Very critical judge a brand new project. greatest roadmap, Promotion by influencers, announcing airdrop with reward can't be trusted.
Now bear is on the trand. So if you want to get yourself out of being scam, just avoid new project. Secondly avoid those old altcoins, which haven’t any potential. But if you are interested with new project then confirm that, they have decent community support. Running Idos, following roadmap and they let you Know their update in time

Just use your common sense.Period!

Avoiding scam projects should really be handled out by your own common sense but here's some basic things to be done.

1. Always DYOR
2. Take some DYOR
3. DYOR all the way

From whitepaper until to the team itself or the relevance or utility of the said project.You should really know its background but somewhat even knowing such stuffs
or situations or things cant really still assure 100% success rate. We do have lots of scam and shit projects in the market which they do eventually die instantly but coming back
on having a brand new name and the cycle continues. These fraudsters does really know that there are dumb investors or to those who do put up money would really be that
too fool on believing that a certain project is really good. This is why they would really be continuing on what  they've been doing.

Well, if there is some experience in evaluating projects, then you can use it. Then the principle of DYOR is indisputable. But what if there is no experience? Here at least reason, at least do not reason – the risks of loss increase. What do you advise beginners in crypto?

[shinratensei_]

Well, if there is some experience in evaluating projects, then you can use it. Then the principle of DYOR is indisputable. But what if there is no experience? Here at least reason, at least do not reason – the risks of loss increase. What do you advise beginners in crypto?

I hardly understand your question but i get the gist of it.

however if you don't have any experience at all in cryptocurrency basically still a newbie and of course determining some good project will definitely become a hard task for you.

you can just simply rely on the fact that you can easily choose project based on which partnership they have, list all the good venture capital out there like mysten labs, etc and only follow the project they have invested.

we all have seen how good the project they invested are, usually gets listed almost immediately in good famous exchange and get massive value increase.

that's one way of knowing good project since you only follow, the task of doing review is on the venture capital teams.

[TelolettOm]

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.

[lepbagong]

Its Very critical judge a brand new project. greatest roadmap, Promotion by influencers, announcing airdrop with reward can't be trusted.
Now bear is on the trand. So if you want to get yourself out of being scam, just avoid new project. Secondly avoid those old altcoins, which haven’t any potential. But if you are interested with new project then confirm that, they have decent community support. Running Idos, following roadmap and they let you Know their update in time

for now I really agree with you to avoid any new projects, because the potential to become a scam can happen very easily, because the current indicators are still not recovering and there is still a crisis which has resulted in the crypto sector also being affected. it's more to invest in old coins that are ranked the best because they are safer, it must also be remembered that the situation is about to enter the era of the halving period where there will be a gradual increase, so there is no time for speculation anymore. especially with a new project where even though the community is very well maintained and that will not be able to make sure it will be safe.

[v3liana]

Dont let your greed blind you to something too good to be true. Research everything you put your money into completely, and sleep on it before you dive in. Good luck!

[RussianEnglishTranslation]

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 easiest way to see if something is a scam or not is if there is a real working product and the project solves a real world problem. 0xMR for example has no team tokens and the team operates a mixer. Q Blockchain for example is the first blockchain with a legal layer and is regulatory compliant. XRP is used for international remittance and CBDCs.

[RAshartem]

There is a problem with this problem. Many altcoin participants know that the project is a scam, but they will still participate in it without hesitation. Otherwise, how did the 10U God of War come about? In fact, I suggest that the author change the topic: how to select high-quality projects? This would be a good topic, or recommend me a solid project you investigate, and of course give your reasons.

[blockman]

Dont let your greed blind you to something too good to be true.

And from being greedy, those projects that are promising great gains will be the ones where the newbies will fall. But if you're doing research and you don't buy with those easy promises and you're not a greedy guy then you're unlikely to be a victim of those. While there are projects that are obvious when they're promising untrue profits, you get the idea from them.

Research everything you put your money into completely, and sleep on it before you dive in. Good luck!

DYOR as we say and that's not going to fail an investor to avoid those scam projects. If you're researchful and resourceful, you'll get to have the ideas of different projects and might see some hint from within.

[Rupok]

It has become very difficult to avoid becoming a victim of scam schemes.  There are many good projects that are getting scammed.  Scams have become a really big problem in the crypto space.  People's dependence on new projects is decreasing a lot. People cannot find out many good projects only because of scams. But I think one of the reasons for this is the decentralized nature of blockchain.There are many new projects which even after thorough analysis turn out to be scams.Innovative projects show nine out of every 10 projects work a huge potential for scams to emerge.

[barlo357]

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 can use tokensniffer to get more details about the tokens. It will show the red flags that would make you reconsider to buy it or not.

Website: https://tokensniffer.com/

If you want more than tokensniffer, you can check their community, mostly on telegram and know more about it.

[shinratensei_]

It has become very difficult to avoid becoming a victim of scam schemes.  There are many good projects that are getting scammed.  Scams have become a really big problem in the crypto space.  People's dependence on new projects is decreasing a lot. People cannot find out many good projects only because of scams. But I think one of the reasons for this is the decentralized nature of blockchain.There are many new projects which even after thorough analysis turn out to be scams.Innovative projects show nine out of every 10 projects work a huge potential for scams to emerge.

honestly differentiating between scams and good projects are in general quite easy, it's that it requires you to make some analysis before hand in which also requires knowledge, but I think the concern of getting scammed by the devs now has changed to being scammed from malicious contract interaction.

lately there has been some news in regard of many dapps that actually implements malicious contract to drain money of their customers which is really scummy way of scamming people out there.

this issue really incur losses towards those that interacted with smart contract heavily, right now don't ever trust some random smart contract and dapps if you don't want to get scammed when investing in altcoin or anything related to that, because too much risk of losing money honestly.

i think this should be added into the list of project scamming, other than being outright rugpulled.

[deean_3one]

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.

[Dr.Osh]

It has become very difficult to avoid becoming a victim of scam schemes.  There are many good projects that are getting scammed.  Scams have become a really big problem in the crypto space.  People's dependence on new projects is decreasing a lot. People cannot find out many good projects only because of scams. But I think one of the reasons for this is the decentralized nature of blockchain.There are many new projects which even after thorough analysis turn out to be scams.Innovative projects show nine out of every 10 projects work a huge potential for scams to emerge.

Well, a project that's good at first doesn't necessarily last. that's why we are emphasized to continue to conduct research on a project on a regular basis. sometimes, quite a lot of CEOs focus on development at the beginning of the development of their projects, but over time this will decrease and then disappear. this is the thing that I find most often from new projects. many projects are abandoned, or even become a scam. So, do your research in depth and continuously. if you feel that the project can not survive, then you just need to sell it.