How to avoid a scam project?

[Ngemmeng]

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

I think it's not a matter of trust in ICOs but trust in new projects is dropping. we can see many types of token sale like IEO IDO failed, not because investors don't trust this kind of sale system but don't believe in the quality of new projects nowadays. nowadays more and more new projects are popping up but most of them fail because they are not able to compete or because the team is concerned with personal interests.

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[$crypto$]

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.

Actually, things like that can still be done if you have enough free time to research things like that, but I personally prefer things that are easier than that, namely by not looking at new projects where the probability of fraud is very large.
Even though I am quite aware that in this case new projects are not all bad but can be felt, on average they are something that does lead to fraud so with my limited time and I also don't want to waste time just to be in front of the computer constantly checking and researching the erratic ones so in this case I'd rather not touch them in the slightest.
The risk is that maybe we will be left behind with a good new project there, but on the other hand this is also quite worth it because we don't have to worry about being scammed in a new project.

[kawetsriyanto]

I think it's not a matter of trust in ICOs but trust in new projects is dropping. we can see many types of token sale like IEO IDO failed, not because investors don't trust this kind of sale system but don't believe in the quality of new projects nowadays. nowadays more and more new projects are popping up but most of them fail because they are not able to compete or because the team is concerned with personal interests.

TBH, it is difficult to trust ICO anymore because there were too many ICO scams. I prefer to invest in a new coin that provide its IEO in big exchanges. Sure, there is no guarantee for the success of a new project with IEO or IDO, but it is better than ICO projects. However, we shouldn't focus on the way the project to provide their public sales, the fundamentals of the project is the main point to be checked. Although they hold IEO, it has a big chance to be failed if the project has a weak fundamental and inexperienced teams.

[SlimShadyMmp]

I usually wait for the token launch then maybe give it all the room for their hype and then the boring phase Most scam project usually after the pump and hypes disappear while the good project takes its time to gain trust of its community and grow Usually you start buying when coins are dumping and there is a little doubt among investors If you trust the project then buy all the lows

[lobo13hf]

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. 

don't forget the fact that scam projects always offer tremendous returns for the sake of getting attention from all those greedy people.
because the devs know that they will never deliver thats why their promise are so big.

[Inspiron14]

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. 

don't forget the fact that scam projects always offer tremendous returns for the sake of getting attention from all those greedy people.
because the devs know that they will never deliver thats why their promise are so big.

Right because it became an attraction that could be said to be quite working and was definitely targeting those greedy people,
if experienced people when they know like that then they will avoid it,
don't forget that scam projects also have many ways, so we still need to be careful.

[smile1218]

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 be able to avoid and identify scam projects, it is important to do thorough research and exercise caution before investing time and money into any project. Look into the background of the project and its team members. Check if they have a history of successful projects or if there are any red flags. A legitimate project should have a clear roadmap outlining its goals and milestones. If there is no clear road map it may be a red flag.  Check on the whitepaper of the project. If there is no whitepaper or it seems incomplete it maybe a sign of a scam. Check for social media channels, forums and other places where the community is engaged. Beware of promises of high returns. Always do your own research to avoid scam projects.

[nyashenka]

There is only one way to avoid scam projects is to not to trust scam projects and check all the information several times. It is better not to invest in the projects that offer too big and unreal profit. But usually people like such projects and invest in them. Nobody will pay you too big profit.

[Doan9269]

I usually wait for the token launch then maybe give it all the room for their hype and then the boring phase Most scam project usually after the pump and hypes disappear while the good project takes its time to gain trust of its community and grow Usually you start buying when coins are dumping and there is a little doubt among investors If you trust the project then buy all the lows

Actually there's more advantage in going for a project prelaunch sales in other to maximize more return on investment but it also have higher risk because some will only use that avenue to scam investors and run away, but when we are very good at doing research on these projects, we will know the good ones from the bad and how to identify one when we come across them before making an investment.

[Tigerheart3026]

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?

you can not identify a project without deep research:-
firstly, you have to check project team members, i see in the scam projects they include fake/edited photos from google. it is very important to detect scam/fake projects.

then you should check their whitepaper (in fake project most possibility to it's copy/paste), then their roadmap.

[Tomcolor]

If you have no knowledge about crypto market then you couldn’t identity good or scam project. So that's first you should learned about crypto more then you can understand early which project will be profitable. Maybe this time need to avoid new project and waiting for green market.

[podluznyj]

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.

Yes, today there are a lot of scam projects and it’s difficult not to fall for their bait, so as not to get into such a scam company and not invest your money in a scam project, then it’s better to check everything on this project, the team, on crypto sites, if everything is OK can invest in this project

[woez]

If you want to invest in altcoins, I will try to provide several ways to minimize the risk of investing in fraudulent projects. First, look for projects that have been around for a long time and have a solid track record. Second, check if the project is keeping up with upcoming altcoin trends and is listed on popular centralized exchanges. that way it was born and there was a level of trust and legitimacy associated with the project.

One more piece of advice Invest in Bitcoin. Even though the price seems expensive, this can be a safe and secure choice.

[@sriyan]

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.

First, check their website and the whitepaper. Then check the social media presence. If they asked to buy an NFT or something, do not interact with it. Always focus on coins rather than tokens. Because there is a higher probability to scam the token projects.

[ammo121810]

To be able to avoid a scam project we need to research the project and its team thoroughly. Research for the information about the project's goals, team members and also the track records. Check as well for the red flags such as promises of high returns with a little effort, lack of transparency or pressure to invest quickly. Look for independent reviews and feedback from other investors. Be aware of unsolicited offers from people claiming to be from the project team. Consider the projects legal status and whether it is registered with relevant regulatory body. Also do not invest more than you can afford to lose. By following those tips you can be able to avoid scam projects.

[waONE]

To avoid a scam project, you have to analyze fundamentally, because technically, of course it won't work.
Good fundamental analysis is by analyzing the team of the project, reading the whitepaper, and seeing whether the community of the project is active or passive,
if it is active then the project can be said to be good because the team and community have well communicate.

[evichi]

The key approach to avoid a scam project is to research on the project intention - Are they more interested in solving problem for the community, or did they simply jump into ICO, IDO? Find out about the team behind the project? Are they real people with work experience? Have they done crypto projects in the past? and how succesful were they? Check the website - is the website with many typographical errors? etc. Carrying out proper research is the best way to avoid scam projects. It is good if you can make check list to guide you on what to look out for.

[Sterbens]

One more piece of advice Invest in Bitcoin. Even though the price seems expensive, this can be a safe and secure choice.

This is the most likely method. We cannot continue to stand by and keep an eye on projects that are sometimes getting more and more day by day. Maybe if it's an old project and it's solid enough, it can still be done, but mostly for now for new projects, investment is just a word that is indeed to cover the desire for a pump and dump system because for new projects, the average is like that by expecting a large return instantly.
Being in bitcoin for now is still very worth it to do talking about prices maybe compared to altcoins it is still very far from the difference but when talking about comparisons in terms of risk bitcoin is very much more worth it than altcoin.

[JeffBrad12]

To avoid a scam project, you have to analyze fundamentally, because technically, of course it won't work.
Good fundamental analysis is by analyzing the team of the project, reading the whitepaper, and seeing whether the community of the project is active or passive,
if it is active then the project can be said to be good because the team and community have well communicate.

that is not enough, fundamental doesn't always guarantee good project, instead I think its credibility through partnership that guarantees project will never scams.
those projects that usually getting partnership with big venture capital and even held their presale through the service of some big exchanges are usually will thrive.
it's quite different with the other project that just doing everything by themselves since its exposes much more hole for them to exploit.
I think whats important is partnership since usually before partnership formed. they've looked thorougly towards the project themselves.

[axxo]

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 be able to avoid scam projects you need to do your own research and think carefully before investing in any project. You need to consider some things to be able to avoid scam project. You need to check on the white paper and read it carefully and make sure it is well written and it makes sense. Check as well the project's roadmap it must be clear and it has milestones. If the roadmap is unrealistic then you should doubt about the project. Check also the background of the project team members if they involved in scam or they are involved in a successful project. Consider also the community support they are receiving from the investors. Do not just believe in a project who seems to good to be true and promises a high returns with little risk.