How to avoid a scam project?

[yohananaomi]

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).

a very wise message that you have done, because it is a situation like today that has not really recovered, of course, you must always analyze carefully every time you want to make an investment, because there could be a wrong step that will actually be detrimental.
Actually, not all new projects are confirmed to be scams, but there are indeed more like you said.
so you really need to be careful to check well before deciding on a new project.
In fact, I totally agree at a time like this, it's better to invest in the best-ranked coins on CMC, because it's clear that they have great potential so far.
I am as sure as you are, that the reputation of BTC, ETH, BNB is definitely the best, it's true that there is no way they will SCAM, all also admit that and many still continue to be investors for them.

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[AliDeep]

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).

a very wise message that you have done, because it is a situation like today that has not really recovered, of course, you must always analyze carefully every time you want to make an investment, because there could be a wrong step that will actually be detrimental.
Actually, not all new projects are confirmed to be scams, but there are indeed more like you said.
so you really need to be careful to check well before deciding on a new project.
In fact, I totally agree at a time like this, it's better to invest in the best-ranked coins on CMC, because it's clear that they have great potential so far.
I am as sure as you are, that the reputation of BTC, ETH, BNB is definitely the best, it's true that there is no way they will SCAM, all also admit that and many still continue to be investors for them.

Scams continue to appear because always people want to earn more to have more projects and scams always offer the opportunity to earn more. They suggest a conditions that are so good to be true.

[Blitzboy]

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).

a very wise message that you have done, because it is a situation like today that has not really recovered, of course, you must always analyze carefully every time you want to make an investment, because there could be a wrong step that will actually be detrimental.
Actually, not all new projects are confirmed to be scams, but there are indeed more like you said.
so you really need to be careful to check well before deciding on a new project.
In fact, I totally agree at a time like this, it's better to invest in the best-ranked coins on CMC, because it's clear that they have great potential so far.
I am as sure as you are, that the reputation of BTC, ETH, BNB is definitely the best, it's true that there is no way they will SCAM, all also admit that and many still continue to be investors for them.

Relying on well-established coins like BTC, ETH, and BNB without taking into account the potential growth in the unexplored cryptos. Although these titans have solidified their reputation, don't forget how BTC was once derided as "magic internet money." Time and tide do not wait for money

Its simple to repeat the prevailing wisdom. breaking new ground is more challenging. While I agree that it is prudent to exercise caution in a volatile market, it is a limited viewpoint to write off new initiatives completely since some of them turned out to be frauds. True investors evaluate possibilities rather than getting caught up in the security of the known. Take a deep breath, question the norm, and then make a choice

[Lizzie_Girl]

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 don't need to be in many projects. You just need a few good project and you're good. How to select those few... There are many ways to achieve that. As many of my friends explained here that you have to look for what it want to achieve. Is it something valuable or just to take your money away. Most important is the team behind it. Do they have history of something good then you can research it more and look for other factors.
Besides these the narrative atm matters a lot. Because if it favors the project it can go wild but if not then even the project is good it might not do well. So You gotta consider a lot while doing research. So when you will be on the way of doing things, the best you can learn is that time. Keep hustling.

[bakasabo]

The only possible way to avoid scam project or being scammed in any other way is not to make any investment and be silent in the Internet about having cryptocurrency. Simply doing nothing is the best way to avoid having troubles.

User can make hundreds of researches, check every bit of information about the project, yet there is still a possibility he would be scammed. He might even be scammed indirectly. The project user have invested might be hacked and all the funds project raised will be lost. For user, that will be a same loss of funds. User will never get the truth behind actions of a project, and will mark this project as a scam, even if the project is legit. Crypto mostly is about making a risky move. Risk is always connected with scam. How to avoid scam ? Be a lucky person.

[JahriMeayer]

You don't need to be in many projects. You just need a few good project and you're good.

Thats what i also recommended but most of the time people invest with random altcoin for more profit and thus they get scammed. On the other hand, old altcoins with potentiality, scam very rarely comparing to new altcoin. But there were lots of new altcoins, those were already given incredibly returns but Newbies are advised to get apart from doing such things.

[JeffBrad12]

You don't need to be in many projects. You just need a few good project and you're good.

Thats what i also recommended but most of the time people invest with random altcoin for more profit and thus they get scammed. On the other hand, old altcoins with potentiality, scam very rarely comparing to new altcoin. But there were lots of new altcoins, those were already given incredibly returns but Newbies are advised to get apart from doing such things.

honestly investing in many projects is okay, the thing is that, many are just randomly picking some random project based on their guts and put their money there.
of course they would definitely get scammed eventually one day.
had they followed only project that is being sponsored by some big company like binance they'd be fine, they could be investing thousand times in a month and their investment will mostly still retains their value even though sometimes the value is going down.
thats simply the key here that many seem to just ignore, just stick with project sponsored by big company.

[Twentyonepaylots]

You don't need to be in many projects. You just need a few good project and you're good.

Thats what i also recommended but most of the time people invest with random altcoin for more profit and thus they get scammed. On the other hand, old altcoins with potentiality, scam very rarely comparing to new altcoin. But there were lots of new altcoins, those were already given incredibly returns but Newbies are advised to get apart from doing such things.

honestly investing in many projects is okay, the thing is that, many are just randomly picking some random project based on their guts and put their money there.
of course they would definitely get scammed eventually one day.
had they followed only project that is being sponsored by some big company like binance they'd be fine, they could be investing thousand times in a month and their investment will mostly still retains their value even though sometimes the value is going down.
thats simply the key here that many seem to just ignore, just stick with project sponsored by big company.

The only reason why some people are risking their money on random projects is because they want to get their hands on it before it goes boom or popular in the market. This is the main reason why people always get scammed because they are expecting easy money, and they keep assuming these new projects are worth it rather than putting their money on existing good projects. The best way to avoid a scam project is to avoid looking for an easy or fast return of profit because if you keep looking for this kind of project, you will just end up being scammed and bankrupt.

[Kezacky]

I think,There are different ways of knowing scam projects which include monitoring the project team from the start till the end because so many projects are coming with lies and plagiarised white papers just to attract investors.
Before investing in any crypto project, you should make sure you make good research about the project so that you will not fall victim of scam projects.

[yohananaomi]

I think,There are different ways of knowing scam projects which include monitoring the project team from the start till the end because so many projects are coming with lies and plagiarised white papers just to attract investors.
Before investing in any crypto project, you should make sure you make good research about the project so that you will not fall victim of scam projects.

The principle is that you always have to do research before you want to make an investment, especially for new projects that can always fool us. I agree with you that for every new project, there are several stages before placing the funds, including the team behind it, the white papers, and others. It must also be remembered that many projects are smart enough to cheat; even though everything looks good, what is most often done is to make the price received lower than when buying, so many investors suffer losses.But it is always to analyze, even though not necessarily the analysis will always work well. At least fraud can be avoided.

[AnonBitCoiner]

The only possible way to avoid scam project or being scammed in any other way is not to make any investment and be silent in the Internet about having cryptocurrency. Simply doing nothing is the best way to avoid having troubles.

Will you not not drive the car because there is possibility of accident?
All projects are not equally scam , there is many worthy projects having real use case backup by Binance and other big trusted ventures. we can easily select quality project if we do little research. Ethereum, XRP, Matic, Bnb and many other projects are long term projects and we can say that these projects are worth to invest

User can make hundreds of researches, check every bit of information about the project, yet there is still a possibility he would be scammed. He might even be scammed indirectly. The project user have invested might be hacked and all the funds project raised will be lost. For user, that will be a same loss of funds. User will never get the truth behind actions of a project, and will mark this project as a scam, even if the project is legit. Crypto mostly is about making a risky move. Risk is always connected with scam. How to avoid scam ? Be a lucky person.

actually the possibilities you mentioned is not happened always and Ratio of hacking in very low so we can say that 1% legit project could also prove in indirect scam but other projects are still trusted and one could invest safely. as far as risk concern then investors should always invest according to fund he afford to live happy life without these investing fund and this is not only specific with crypto. if you start any business then risk is involved there and possibility of losing is possible there too. OP wants to ask the basic of knowing scam project so that he can make difference between legit and scam project which i think is team details, backup information, Contract verification and the idea any project working on it.

[Blowon]

There isn't any. Things like that cannot be completely avoided, it's just that we have to always be alert and always do very in-depth research so that we are really sure about the project we are taking part in. Even though some of them seem to promise public sales with huge discounts, or have a roadmap in general, it also can't even be confirmed whether they are a scam or not.

[poodle63]

There isn't any. Things like that cannot be completely avoided, it's just that we have to always be alert and always do very in-depth research so that we are really sure about the project we are taking part in. Even though some of them seem to promise public sales with huge discounts, or have a roadmap in general, it also can't even be confirmed whether they are a scam or not.

actually things like scam project could simply be avoided by only trusting the most reliant platform there is and sticking with it.
like for example you wanna invest in new project, just follow the ones sponsored by some big exchange like binance.
if you still don't really trust these new coins that much because maybe they are not that good in your eyes you can just invest in coin like ethereum that have history of having long established and still reliable until today.
its quite simply actually, the main reason why many gets scammed because they are greedy enough to invest in something so obscure.

[Sophokles]

Understanding how people are being scammed and the methods being used by scammers is crucial. Increase your knowledge about account security as knowledge is the key to power. Identify a scammed project from a legitimate one by using your knowledge, instinct, and common sense. Examine the LinkedIn profile of the project team and their background.

[DabsPoorVersion]

There isn't any. Things like that cannot be completely avoided, it's just that we have to always be alert and always do very in-depth research so that we are really sure about the project we are taking part in. Even though some of them seem to promise public sales with huge discounts, or have a roadmap in general, it also can't even be confirmed whether they are a scam or not.

It depends on the situation. Most of the scam projects can be easily detected if you do deep research. Most of them actually have no clear plan for the project and sometimes their plan is an overall copy of another project. But yes, there are some projects that really build up their own plan, which looks serious but, in the end, they end up being a scam project.

[Ripon9909]

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.

op you asked a good question. How can we avoid scam projects? According to my knowledge, it is very difficult to identify the scam project. But if you try, you can identify it, even though the project is scammed by the team. Because they don't keep what they say while running the project, instead they kill the investors' money and become pointless. A good way to recognize a project is if the team follows their project roadmap and the company has an audit pass. If these are there then it can be said that it will not scam.

[Wiwo]

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 fact is that,  89% of all the project fhat are popping up right now are all scams and only a few unnoticeable ones have been successful so far,  we have to be very careful in doing our own research before we ride with any wave that comes along,  this is important because altcoin projects,  and the industry in a whole ride on hype and if an investor is not careful you can end up investing into a scam project since their number seems to be higher than that of legit projects.

So we must be weary of hypes such as the current meme coin hype, which is currently leading to many scams.

[cute nmp]

There are so many scams project nowadays ,we can only avoid them by making a good research about the project ,what concept does the project has and the team behind the project that way you can be able to avoid most of them and protect your funds from scammers.

[nurilham]

You don't need to be in many projects. You just need a few good project and you're good. How to select those few... There are many ways to achieve that. As many of my friends explained here that you have to look for what it want to achieve. Is it something valuable or just to take your money away. Most important is the team behind it. Do they have history of something good then you can research it more and look for other factors.

Agree. We mustn't invest in too many projects, it will make us confused to manage our crypto assets. It also increases the chance to join scam or weak projects because having too many projects means to have an extra efforts to analyze them. When we analyze too many projects, we may not be very careful due to spending too much energy. That's why we are better to invest in a few projects only, choose the most convincing project that have strongest fundamentals.

Sure, when we choose a project, we must ensure the project has a good fundamental. They have trusted teams/developers, convincing products, clear roadmaps, good partnerships, and they plan to list the tokens/coins in reputable exchanges. These are some matters that we must take a look on the project before we decide to join it (buying the coins/tokens).

[Gallar]

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.

Of course, you have to do a really thorough analysis or research on the new altcoin or token that you are going to buy. Like finding out who founded the altcoin and what was the purpose of creating the altcoin. The simple analysis that I usually do is like that. Because in my personal opinion, knowing the name of the founder and knowing what the goal of the project is. Become a keyword and it will be more visible in the direction in which the altcoin is created. Is it to commit fraud? or created to develop a clear project.
But even so, fraudsters in the crypto realm will definitely cheat in order to trick or deceive their buyers. So even though the two factors above have been carried out and for example the results are positive. But you have to be careful. Because it is possible that fraudsters in the crypto world manipulate data to make it look more promising.

So my advice is, it's better to buy cryptocurrency whose quality is really clear. Like buying cryptocurrencies that have a rating of 15 and below. Especially if you are still a beginner, it is better to avoid risks. Because maybe it is true that some of the altcoins or tokens that have just been launched, maybe some of the coins might be profitable. But to find out which altcoins are profitable or at least not fraudulent, in my personal opinion this is very difficult. Because as you know, every month not only one or two cryptocurrencies come out, but more than that. So it will definitely be very difficult to analyze it, especially for a beginner in the crypto realm.