How to avoid a scam project?

[JeffBrad12]

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.

truth, one way to find out whether the project is truly legit or not, is through determining the willingness of of the developers to develop the project, how active they are, how active their social media are and also the growth of userbase over the course of the month, etc. its really easy distinguishing the committed developers and those that just trying to grab money from this, one most distinguishing behavior is that the developers of scam project might not bother with the development that you see it stuck, why? because the developers themselves know that they won't spend a dime for development because after grabbing the money they'd just abandon the project and run.
so developing would be waste for them, but this kind of thing is hard to distinguish for inexperienced investors so I think its better to stick with existing high market capitalization coin for newbies.

[1715124082]

1715124082

[Ben Barubal]

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 question is: how do you know that the project is a scam? Avoiding it is easy; what makes it difficult is what most people don't know: how to determine whether a project is indeed a scam. This is what we should teach people who don't know.

  Because having the knowledge to know how to avoid it is a big factor in avoiding such scam projects and also a big help to every community that enters into crypto projects in this industry.

[Hewlet]

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 doing your research will go a long way in guiding you to making the right decision on the project to look out for, if you do your assignment very well you will get information that will be of help to you. Their are some altcoin platforms also that if you post a particular project for verification you will get a bunch of insight that will get you reasonable and this board is also one of them.

[Bushdark]

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.

The rate of scam projects in the market is too much and that is why many investors had decided not to invest in new projects because of there experience that had made them to lose huge amount of funds in the market as a result of investing in the wrong crypto projects.
For us to be save as an investor, there is need for us to keep doing consistent research so that we can know what project will be profitable for us.

[Ben Barubal]

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.

  There are many things to consider. First of all, there must be a white paper that includes the roadmap of the projects, because if it is not there, it will be a red flag immediately or it will be difficult to trust. Second,  always check their tokenomics so you can see how much total supply there is, and if there is demand, is it the token or not?

  Then, also find out if there is a large community or if they are active on various social media platforms here in the online industry. And what is said should be realistic, not just promises.

[gabbie2010]

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.

Truly your points are valid on a conducting a thorough research through the internet to validate the credibility of some those projects, however some of those scam project developers hired some social media promoters to advertise and promote their project to look real, they wrote all sort of positive reviews and got posted on the internet al the social media Telegram, Twitter, Facebook etc contain some positive reviews about the project however in the long run the project ended up as scam, so it takes a lot effort, research and enquires to find legitimate and credible projects and avoid projects that promise huge and massive returns within a shortest period of time.

[cozytrade]

I think, to identify scam projects in crypto. Their websites should be checked thoroughly. If their information is found to be similar to the projects that have been victims of scams, it should be understood that there is a high probability of scams in that project. Especially scam prone projects always offer high quality. And scammers use different tactics to attract people to those projects. But in my opinion it is very difficult for new entrants to crypto to understand the difference between legitimate project and scam project. Expert advice and reviews should be taken very seriously to identify and avoid scam projects.

[libert19]

Having money in project and losing it teaches you most why particular project was a scam. Invest (what you can afford to lose) in projects you think are good and lessons will show up themselves, you'll automatically be able to identify scam projects from first glance after few experiences.

[batang_bitcoin]

I think, to identify scam projects in crypto. Their websites should be checked thoroughly. If their information is found to be similar to the projects that have been victims of scams, it should be understood that there is a high probability of scams in that project. Especially scam prone projects always offer high quality. And scammers use different tactics to attract people to those projects. But in my opinion it is very difficult for new entrants to crypto to understand the difference between legitimate project and scam project. Expert advice and reviews should be taken very seriously to identify and avoid scam projects.

A lot of these projects don't even have a real team. They just grab pictures on the internet and even names are the same. When you see something like that and the photos are odd, that's one way to know if they are real project or not. That's like the stage 1 of figuring out and there's more. If you will ever get into a better team, still, doubt them because not all looking professionals are also real. Always be in doubt when you are checking them.

[Essential10]

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 once fell victim to a scam project and since then I proceed very cautiously with any kind of project. However, when we observe the market we see that most of the projects fall prey to scams. So we need to do our own research very carefully and make informed decisions based on facts rather than guesswork. Take the time to read the project's white paper, study the team behind it, understand the technology and market potential. If we buy something with money or invest, I have to decide whether it is good or bad. The Internet is a vast and unpredictable place, so always proceed with caution and skepticism.

[AnonBitCoiner]

If someone wants to avoid scame project then he should put sligher aggregation in new coin and should often plump for old or top coin because new coins cannot give you huge profit like that of bitcoin or Ethereum. First try to evaluate the roadmap of selected project because you will easily confirm about its goals and also read about utility of token and concerning its exchange on which it has been launched.

If you have joined groups on telegram then share your thoughts with expert and also take their suggestions as it will be helpful to take and decision actually expert have more experience in selecting a coin but if we are buying a coin without investigation then it is not a sound well decision. information are present on the website of that project so if anyone wants to decide whether to select or leave the project then he should look into the website of that project.

[AakZaki]

Having money in project and losing it teaches you most why particular project was a scam. Invest (what you can afford to lose) in projects you think are good and lessons will show up themselves, you'll automatically be able to identify scam projects from first glance after few experiences.

will not automatically be able to identify fraudulent projects even though they have been trapped in fraudulent projects before. but this is about awareness of how you invest money in projects that you believe in or not. thorough research is important to do. There are some people who always fall into the trap of fraudulent projects because they are tempted by large returns, even though if you calculate it, it doesn't make sense. no one will give big returns or bonuses without any frills behind it.

[Dunamisx]

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 once fell victim to a scam project and since then I proceed very cautiously with any kind of project. However, when we observe the market we see that most of the projects fall prey to scams. So we need to do our own research very carefully and make informed decisions based on facts rather than guesswork. Take the time to read the project's white paper, study the team behind it, understand the technology and market potential. If we buy something with money or invest, I have to decide whether it is good or bad. The Internet is a vast and unpredictable place, so always proceed with caution and skepticism.

In most of the scam cases of the past that has happened to us or other people, it might have come from the way we are being decieved through our greediness, there are some things in which a normal reasoning should tell us that it's likely not to be a legit offering before we accept them, but many of us usually fell of the cliff before thinking of the alternative means of never to have fallen from the first place.

[Miles2006]

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 once fell victim to a scam project and since then I proceed very cautiously with any kind of project. However, when we observe the market we see that most of the projects fall prey to scams. So we need to do our own research very carefully and make informed decisions based on facts rather than guesswork. Take the time to read the project's white paper, study the team behind it, understand the technology and market potential. If we buy something with money or invest, I have to decide whether it is good or bad. The Internet is a vast and unpredictable place, so always proceed with caution and skepticism.

In most of the scam cases of the past that has happened to us or other people, it might have come from the way we are being decieved through our greediness, there are some things in which a normal reasoning should tell us that it's likely not to be a legit offering before we accept them, but many of us usually fell of the cliff before thinking of the alternative means of never to have fallen from the first place.

People who find themselves in this category they react quick when it comes to money issue and forgetting about the investment, they get blindfolded with huge profit, I will not blame anyone cause when juicy offer comes people don't care and they lack the mindset to think, some will say is as a result of greed but not only greed sometimes it comes with foolishness or carelessness, firstly when it comes to scam or anything concerning scam it looks different from other real project in nature, scam project just have a different pattern from real project, if you can differentiate scam project from the real project then it'll be easy or rather I will prefer choosing a trustworthy project to afford stress.

[GeorgeJohn]

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.

When you see a scam projects you can know them, but the problem with people is that some certain investors do get excited and also be curious whenever they see some of the investment, so therefore I believe cryptocurrency investment if you don't want to venture into the wrong investment you have to at most make a research concerning any projects that you want to establish with, I know quite well that cryptocurrency investment or any newly established projects required a proper investigation before someone can invest in such projects, its the newbies that doesn't ask questions before investing.

[TimeTeller]

When you see a scam projects you can know them, but the problem with people is that some certain investors do get excited and also be curious whenever they see some of the investment, so therefore I believe cryptocurrency investment if you don't want to venture into the wrong investment you have to at most make a research concerning any projects that you want to establish with, I know quite well that cryptocurrency investment or any newly established projects required a proper investigation before someone can invest in such projects, its the newbies that doesn't ask questions before investing.

If you have been here long enough, you can easily spot a scam in the making project.
You will see that they are all pure talks and promises, but no tangible results is being presented.
Also, if you are serious in investing in a specific project, better do your own due diligence.
Because these scammers don't care about your funds as long as they can siphon it from your vaults.
And don't believe in hype, mostly they are just to attract attention of gullible users.

[Bazzu]

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.

A bad project will usually look like it was rushed. They immediately create a roadmap and whitepaper quickly but they always fail to achieve it according to the roadmap that has been created. Their telegram channel is filled with bots. a lot of unorganic chatter in groups and such. But there are also projects that look real and really have potential. But then once they are known enough then the team goes and withdraws the token liquidity. Well it happens a lot so be careful. The most important thing is that we have to look at everything realistically. Don't be tempted by projects that offer 1000x from the start because we know they are just bragging. Because it was an original project, they immediately made a massive increase without having to say it many times to the community. Serious projects also have a clear vision and mission. But I personally am sometimes still confused about this. But at least we can minimize it. And only enter projects that really have a clear vision and mission. and usually not a vision and mission that imitates another project.

[2Pizza410000BTC]

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.

If a person is experienced here he can identify good and scam schemes by himself. There are thousands of good and scam projects in this bitcoin forum you just need to be aware. Especially the way I identify good projects and scam projects is that I never buy any coins from pre sale and invest. Always choose good cex exchange listed coins to invest. The only reason to choose from a good exchange is because scam schemes will never list on a good exchange. Scam projects they always list on a small exchange so they can sell it and take it all in later. Also for better consideration analyze their website, telegram, white paper, discort etc. and see if they are original or fake.

[Pi-network314159]

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.

As for me I think we can easily identify them by there market cap and total number of supply.  Sometimes if you take a look at them in exchanges you will observe that these so called scam project has a fake market cap and number in supply are in trillion that is to tell you that 1 person may buy as much as billions of it and most of them don't have white paper or even community and social media platform. So when you see such project jus run away because they are for your money.

[JeffBrad12]

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.

When you see a scam projects you can know them, but the problem with people is that some certain investors do get excited and also be curious whenever they see some of the investment, so therefore I believe cryptocurrency investment if you don't want to venture into the wrong investment you have to at most make a research concerning any projects that you want to establish with, I know quite well that cryptocurrency investment or any newly established projects required a proper investigation before someone can invest in such projects, its the newbies that doesn't ask questions before investing.

usually some newbies just think some random project as the "next big thing" and call it a day, thats what make some scam project easily scam people more prominently newbies because they hesitant to ask question and even when they try to ask question they don't even know what they should ask and this is also where finding out knowledge about how altcoin works, what fundamental many altcoin present comes into play.
but honestly once we get the gist of how altcoin works in general, and also we've been dealing enough with so many altcoin even more so with thos high quality altcoin backed by some big company like coinbase for example we could know just at glance that some project are just pure shit, because we have that instinct to find the weak point of certain project when we are always investing in good altcoin and also finding technicality aspect of that coin, but for newbie, just see whether some project is overpromising.