How to avoid a scam project?

[lunnatic]

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.

These methods certainly require a lot of time, but we must be aware that we cannot completely avoid scam projects,
by doing research does not mean it is a guarantee of avoiding scam projects,
at least by doing that it can minimize.

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[Tahid12]

Op you need some correction, in opinion. new project launch daily but a few project can successful and most of projects come to scam people sooner or later. My suggestion is, always Google and find info about them as much as can and dyor deeply. But for newbies, simple solution is to avoid new project to avoid being scammed. I believe new projects are for crypto experts only as scammers are everywhere

[CapGelatik]

To avoid project scams, of course, we can only overcome them by analyzing the altcoin project,
such as by means of fundamental analysis by looking at communities, social media, white papers and even websites,
if the fundamentals are said to be good then the next step is to analyze technically.

[timoshani]

The scam project can not be avoided successfully now because it created by clever people – hackers. Yesterday I lost my stablecoin from Matic and BSC. It was a project for claiming free NFT. I noticed late that there is a switch between wallets. I managed to turn it off before connecting to the Ethereum Mainnet

[CapGelatik]

The scam project can not be avoided successfully now because it created by clever people – hackers. Yesterday I lost my stablecoin from Matic and BSC. It was a project for claiming free NFT. I noticed late that there is a switch between wallets. I managed to turn it off before connecting to the Ethereum Mainnet

I'm sorry for you, and I hope you can get more results from your efforts, of course you don't give up even though you have been hit by scammers,
and in my opinion we can avoid scammers by analyzing these altcoins,
and if you take part in the airdrop of course you have to really understand the risks because now there are so many airdrops that redirect to our wallet.

[Ngemmeng]

Op you need some correction, in opinion. new project launch daily but a few project can successful and most of projects come to scam people sooner or later. My suggestion is, always Google and find info about them as much as can and dyor deeply. But for newbies, simple solution is to avoid new project to avoid being scammed. I believe new projects are for crypto experts only as scammers are everywhere

And what needs to be emphasized here is that a failed project doesn't mean it's a scam because the team might have tried, but the market response when listing didn't match the expectations of the team and the community. and in my opinion searching for information about a crypto project on Google is not the right thing to do because not all information about crypto projects can be found on Google.

[dunfida]

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.

These methods certainly require a lot of time, but we must be aware that we cannot completely avoid scam projects,
by doing research does not mean it is a guarantee of avoiding scam projects,
at least by doing that it can minimize.

Lessening or minimizing it should really be the next thing to do specially if you do have that initial experience on losing money due to scam projects which its true that we cant really completely get rid of it.
Basing up on experience there are legit looking projects did turns out to be scam in the end and there are projects who do look gibberish but did becomes so valuable on which this is one of the hardest thing for you to be
able to point or predict out in speaking of project potential which turns out to be reversed and this is why there are people who do rush on considering on dealing with shitty looking projects and taking up such step or risks
since they do have seen the probabilities.

The most important that thing that you would do is to make yourself that make use of your own common sense and make your own research always.Try to verify out every information and trying out to
seek or search for some red flags for you to be able to avoid while its still early.If you dont make yourself that wary then you are really that prone into lots of possible errors.

[ananyabushra]

We should all start using features like smart contract scanners and auditors. By using them, we can understand if the contract is corrupted. Those come in handy for identifying scams

[JunkieMiner]

Look at the products of the project, that what they are really trying to achieve and on what basis their work is ongoing. Look at their partnerships with the top projects. And mostly you should look at the backed by system, that which project has invested in that projects. This could help you.

[Doovla3]

If you are using Telegram and got some projects interesting for you and suddenly you got a call from somebody with same name like admin in that group telling you that you go to other group also telling you that group you are in is scam is a scammer guy,be aware.
Many scam project dont have stable websites. Updates every time with some details that in first look is not predictible,be careful you can lose a lot money.
That is my experience.

[Doovla3]

The scam project can not be avoided successfully now because it created by clever people – hackers. Yesterday I lost my stablecoin from Matic and BSC. It was a project for claiming free NFT. I noticed late that there is a switch between wallets. I managed to turn it off before connecting to the Ethereum Mainnet

Yes, they know many steps in future how to fool somebody. I lost altcoins in BSC and ETH. They dont even got from me private key.. I dont want to pay some people on Twitter for recover funds i just move to next step and putting all my coins in exchanges. What do you think?

[nur1labs]

for not scam project maybe bases on real project. this mean we need trust project by seek the progress on roadmaps or news keep alive. so far. pin point to they start project and after start project. result is end. if they keep news and progress track mean the project safe. make sure see team is real ok. that my assumption since many dev make bad today too much see the dream of day cause too big risk. Well we see what next become new project with system new bases.

[Doovla3]

Look at the products of the project, that what they are really trying to achieve and on what basis their work is ongoing. Look at their partnerships with the top projects. And mostly you should look at the backed by system, that which project has invested in that projects. This could help you.

Just like so product can be found on website it does not mean that it is real project ,that it is just another scam. You should take a look on project roadmaps , whitepappers and other realisations that they believe they can achieve. But today it is risky because when you know all that and it seems its true that it is not scam something suddenly goes wrong and like there is no back your money or your time you put in project. Good luck really.

[gurunanakji777]

We should examine their motto and determine whether the project team is anonymous. It's important to also assess their activity on social media platforms, including checking their presence and engagement. Additionally, it's advisable to evaluate the size of their social media community. Some projects may have minimal social media activity and lack engagement from their marketing team. It's essential to review the project's roadmap to see if they are actively implementing it. Furthermore, their plans for listing should be considered if they mention listing on tier 3 exchanges, it might be prudent to steer clear. Listing on such exchanges can potentially harm the project due to reduced liquidity, leading to a significant drop in price.

[aseprebel]

Take the time to research the project thoroughly. Look into the team behind the project, their background, experience, and credibility. Scammers often use fake profiles, so verify the team's authenticity.

[Romeotom]

If you will a inactive project then you can understand this project is pure scam. On the other hand they always spread lies and they are very poor in terms of development activities. When they don't have investors the price of their token drops and the absolute volume is depleted.

[RewFrew]

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.

Many new project launching everyday. Sone are doing well and some are scam. But now a days scam project are maximum. Scam project founding is very difficult but it is possible. Because If we follow some things then we will understand this project is good or scam. At first we have to know about project manager then, Partnership, mission, vision, team etc. If we follow this we will gaze how will that project.

[fmz89]

first you need to see tokenomics from project, and if the project doing crowdfunding, sometimes real project asking kyc to user participant
some of binance launchpad is safe but hardly to participate to much gain attention, the easyway to participate without speending money, was using bounty

[Boomber]

an easy way to avoid scam projects is that you just don't need to invest in new projects and only invest in old and popular projects, because most new projects will be easier to scam than old projects, therefore it's better for you to invest in the top 5 cryptocurrency, so you can avoid scam projects, because I believe Bitcoin, Ethereum and Binance are very good projects for a long-term investments and the chances are very small for the project to be scam (even I think its impossible).

[shinratensei_]

first you need to see tokenomics from project, and if the project doing crowdfunding, sometimes real project asking kyc to user participant
some of binance launchpad is safe but hardly to participate to much gain attention, the easyway to participate without speending money, was using bounty

nowadays to participate in the sale of tokens thats truly legit and already having been reviewed thoroughly by some big company like binance which you know the reliability of the company itself in term of reputation surely
they'd take it seriously when they took those project sale of token under their wings, is through various means but most of them are just subscribing through the sale with the binance in your arsenal.
the thing is that, there are some other way to participate is through getting whitelisting from the project itself, through the means of doing either bounty or just fulfilling the qualifications made by the devs themselves which sometimes prove to be either difficult or not difficult at all but somewhat obscure qualification since usually its not revealed by the devs until the day that they choose to make some announcement.