How to avoid a scam project?

[Hildentine]

In this case i said that anyone who wants to invest there fund in new project in this time many scam project are coming in market first of all collect information about project then check what say old users about project see the project partners etc that all thing show that the project are strong are not .
If a project not strong so can't trust.

[Fuso.hp]

We are constantly seeing new projects in the market, so it is difficult but not impossible to find a real project among so many new projects. Real projects can be found if the project is properly scrutinized. Before investing in a new project, the website must be observed for a few days, if the website of the project can be observed for a few days, then it will be very clear to a user what the project is like. Then we should try to know how much the people in charge of the projector are sharing their verified address or profile. How long is the domain of the project website or how much is the rating of the project website by monitoring these things well then we have to be sure that how much the project is real or how much is fake although it is not possible to get 100% information this way, still it is much better to know this way than not knowing anything.

[Blitzboy]

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.

Before investing in a cryptocurrency, research is crucial. Consider the founder's and project's goals. I agree that knowing the founder and objective isnt crucial. Cryptography is ecological, and honesty and dishonesty coexist. Like getting lost in a maze - one false step might lead you nothing. Its crucial to verify every facts because bogus news can look excellent. Your advise is great. For beginners, sticking to well-known cryptocurrencies, especially the top ones, is safest. Even seasoned crypto experts often struggle to keep up with new ones. Always prioritize quality over potential profits, especially for novices.

[JayTrain]

Sometimes you look at a project from all sides, and there is not even a hint of fraud, but then, unfortunately, it becomes apparent, what am I getting at, that fraud in projects is now like an art, it can be so impregnable and at first glance difficult to understand.  I can’t recommend what to pay attention to first, because there are scam projects even with a lot of capital on board.

[oktana]

The real truth is that there’s no particular test to know if a project is scam. But you can pay attention to red flags when looking for what project to invest in (especially these new alts). One of which I’ve seen is when a project’s team members is not having any tangible or reputable background. Additionaly, check the use-case of the project, check what problem the token solves and how effectively it does that.

[TelolettOm]

Sometimes you look at a project from all sides, and there is not even a hint of fraud, but then, unfortunately, it becomes apparent, what am I getting at, that fraud in projects is now like an art, it can be so impregnable and at first glance difficult to understand.

The real truth is that there’s no particular test to know if a project is scam. But you can pay attention to red flags when looking for what project to invest in (especially these new alts). One of which I’ve seen is when a project’s team members is not having any tangible or reputable background. Additionaly, check the use-case of the project, check what problem the token solves and how effectively it does that.

Of course, there is no fixed ways to determine scam projects. Everyone has their own way to check a project, but there is no very accurate way to know it. In common way, we can check the track record of the teams/developers, know the fundamentals of the projects, analyze the whitepaper, take a look their partnerships, and learn how strong the community supporting the projects. However, sometimes all of them have been analyzed well and we have found nothing suspicious. But at the end of the day, the teams/developers suddenly disappear, and the projects can't survive longer. I already experienced this several times. So, it is very difficult to check or analyze a project where it is a scam or not.

[batang_bitcoin]

The real truth is that there’s no particular test to know if a project is scam. But you can pay attention to red flags when looking for what project to invest in (especially these new alts). One of which I’ve seen is when a project’s team members is not having any tangible or reputable background. Additionaly, check the use-case of the project, check what problem the token solves and how effectively it does that.

That's right, because at the beginning even the known scam ones have hard time when people figured out that they were scams. But before, they're like the most authentic ones that made people optimistic about them but then, it's all about lie.
It's all about the promises that they've made to their communities but then they've broken most of those but made some of it. And then, from all over the entire community that they seem to be at their peak, that's when they're going to cut their ties and will turn the route backwards and will execute the scamming tactics that they're about to pull.

[Yaunfitda]

The real truth is that there’s no particular test to know if a project is scam. But you can pay attention to red flags when looking for what project to invest in (especially these new alts). One of which I’ve seen is when a project’s team members is not having any tangible or reputable background. Additionaly, check the use-case of the project, check what problem the token solves and how effectively it does that.

It's really very hard to identify scam projects very early but there could be red flags,

a) developers doesn't want to show their faces or wanted to go anonymous, it could be, but they might be hiding on this reasons so that when they run off, no one will know them

b) poor written whitepaper, maybe they are in a hurry to released it and perhaps just hire someone to write for them without checking the output. And then someone will call them about the copy whitepaper

c) the design of their website is poor. Same with whitepaper, this scammers wanted to put up their website ASAP to show that indeed they are real. But if the website UI is poor and not appealing and you think that they are taking about millions but can't even create a good website that it looks like a 10 year old build it, then think again on investing on them.

[oktana]

The real truth is that there’s no particular test to know if a project is scam. But you can pay attention to red flags when looking for what project to invest in (especially these new alts). One of which I’ve seen is when a project’s team members is not having any tangible or reputable background. Additionaly, check the use-case of the project, check what problem the token solves and how effectively it does that.

It's really very hard to identify scam projects very early but there could be red flags,

a) developers doesn't want to show their faces or wanted to go anonymous, it could be, but they might be hiding on this reasons so that when they run off, no one will know them

b) poor written whitepaper, maybe they are in a hurry to released it and perhaps just hire someone to write for them without checking the output. And then someone will call them about the copy whitepaper

c) the design of their website is poor. Same with whitepaper, this scammers wanted to put up their website ASAP to show that indeed they are real. But if the website UI is poor and not appealing and you think that they are taking about millions but can't even create a good website that it looks like a 10 year old build it, then think again on investing on them.

I do not agree with a. I know of a project that refused to share any information of the team. From their admins to the CEO was keep private, and people were investing. After a long while of maybe almost 2 years, the CEO finally shared the info of who he was. That project was a genuine one yet, you see how that went? For your option c, it isn’t necessarily true because I’ve seen great project with a simplistic website and have also seen scam projects with really amazing design (just to entice you).

[GreenStox]

We are constantly seeing new projects in the market, so it is difficult but not impossible to find a real project among so many new projects. Real projects can be found if the project is properly scrutinized. Before investing in a new project, the website must be observed for a few days, if the website of the project can be observed for a few days, then it will be very clear to a user what the project is like. Then we should try to know how much the people in charge of the projector are sharing their verified address or profile. How long is the domain of the project website or how much is the rating of the project website by monitoring these things well then we have to be sure that how much the project is real or how much is fake although it is not possible to get 100% information this way, still it is much better to know this way than not knowing anything.

because this is in the online world, crime or fraud can easily occur, but the things you mentioned also do not guarantee that you will be safe, but can reduce the risk.

[Velemir Sava]

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.

Personally, I first read the threads in project posts from those I follow, then wait for comments from seniors who understand more about project analysis and usually there is a link sent for proof. Another attempt I made is use their own analysis and finally browse their website, their social media, whether they are updated or not, if not, it's just pretend. Oh yeah, Baunthy Manager is also one of them to see and  identify the project good or no.

[Bushdark]

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.

Personally, I first read the threads in project posts from those I follow, then wait for comments from seniors who understand more about project analysis and usually there is a link sent for proof. Another attempt I made is use their own analysis and finally browse their website, their social media, whether they are updated or not, if not, it's just pretend. Oh yeah, Baunthy Manager is also one of them to see and  identify the project good or no.

There are many ways we can avoid scam projects so that we are not going to put money on projects that would become rug pull after a short while. It is very important for us to ask questions about new projects we intend to put our money. Making research is also important for us to to do before we put money in any crypto projects.
The cryptocurrency market is full of scam projects and if we don't plan well or scrutinize any investment, we can end up putting our money on short term projects that could crash and take away our money instead of making profits from such projects.

[Kuntus]

I mean we at one point had our own experience/s of being scammed once or twice before we got understand that there obvious red flags we missed, which has now become our guide.

Research the Team: Check the backgrounds of the project's founders and development team. Genuine projects usually have transparent team information on their websites or social media profiles. Be cautious if key team members remain anonymous.

Red Flags: Watch out for common warning signs like promises of guaranteed returns, high-pressure tactics, or requests for large investments without proper documentation. If it sounds too good to be true, it probably is.

Community Engagement: Legitimate projects actively engage with their communities through social media channels, forums, and official communication channels. Look for projects with a strong, involved community and responsive development team.

[Sophokles]

When I looked at some successful projects like ETH, BNB and some others I saw something common among them. All of them are active in development and they always announce all of it on their social media. Their team is active, their community is active and I saw all of them keep partnering with other big projects to grow their influence. If you find all these in a project then there is a high chance that it is a legit project.

[Belarge]

The real truth is that there’s no particular test to know if a project is scam. But you can pay attention to red flags when looking for what project to invest in (especially these new alts). One of which I’ve seen is when a project’s team members is not having any tangible or reputable background. Additionaly, check the use-case of the project, check what problem the token solves and how effectively it does that.

We can not escape from the scam projects we face daily in the system but we can reduced them only if we're able to understand ourselves and not rush into all projects we see in the market. There's no case to acknowledge a project to be a scam project because there are more to understand other than just observing my with our mere naked eyes. Project background does matter for an investor to be able to understand the entire process, examine the road map and the moderators behind such projects, and this is certainly the facts about these scam projects, they tend to offer huge promising and massive profits outcomes which is not pure false.

[nurilham]

We can not escape from the scam projects we face daily in the system but we can reduced them only if we're able to understand ourselves and not rush into all projects we see in the market.

How to reduce the scam projects?
There is no way to reduce the number of scam projects. We only can avoid to join the scam projects.

Sure, there will be always more and more scam projects because scammers won't stop to steal people's money. They do it since they know it still works to do, some newbies or beginners are still trying to participate in those projects. They think they will try their luck on the new projects, they don't know that many new projects are scams. But for people who are experienced enough in crypto investment, probably prefer to choose established projects//coins. Moreover, in the current situation when most crypto coins are cheap enough. They will optimize to fill their wallets with more trusted coins.

[Samlucky O]

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.

I think the ways of identify a fake project is by checking for there transparency and how credible dey are and also checking there technical white paper. Also by checking there community engagement and how long the project will last.

Some project are just a short term project that will allow you to invest your hard earn money on a boble. Which might explode withing the shortest period of time.

[goldkingcoiner]

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.

Just remember to listen to your gut feeling, and most importantly, always make sure you are following common sense. Those two things will keep you very safe. However, if you slacken the security, then you might find yourself in trouble.

Most scams are built very poorly and lazily. And this is the most important identifying mark of a scam project. A professional project will have put in a large amount of work, and therefore money, into every detail. Also, they will try to make sure that their business is completely transparent. The same goes for their team members. There are no anonymous team members. They should vouch for the project with their real identity, and they should be able to prove that they are who they say they are. A scammer usually would not waste money or time on a scam project.

[Justin999]

Simple avoid them. That could be the only solution. New projects are for them who have deep knowledge about them. Although that type of investor also get scam even after that much qualifications and knowledge. So newbies are much helpless and one step ahead of being scam from those professionals. So buy old coins which growth percentage is good since launched. Go to cmc or coingecko and pick your choice among top20/top30. Memecoins like doge, shiba are better to skip

[TimeTeller]

Simple avoid them. That could be the only solution. New projects are for them who have deep knowledge about them. Although that type of investor also get scam even after that much qualifications and knowledge. So newbies are much helpless and one step ahead of being scam from those professionals. So buy old coins which growth percentage is good since launched. Go to cmc or coingecko and pick your choice among top20/top30. Memecoins like doge, shiba are better to skip

The very simple first step on how to avoid being screwed over the net is at least search a lil bit about the project.
Because in today's internet, you can practically search for anything. So you can already get a lot of feedbacks or reviews on a certain topic.
As to move forward, at least give yourself a lil bit of time to assess the project itself and not driven by the fud surrounding it.
A lot of people are jumping on the hype because they believe they will also have the same fate of earning profits as claimed by others.