What tips you will give to a new investor to identify scam projects early ?

[krishnaverma]

identifying scam projects might be quite difficult honestly, you just don't know which project gonna be turning out as a scam, but there are some sign that a project is legit
if you careful enough in your observation, one of the sign is the fact that the project got massive supports from either venture capital or some big exchanges not some measly exchanges
but big one like binance and kucoin and you could be sure that these project legitimacy are really high after all those exchanges would almost 100% sure make a thorough observation in regards
of the coin that they listed they just avoid scams at all costs and you could easily follow that.

If an exchange like Binance is supporting the coin, there are good chances that it is a solid coin. This is because they take a lot of scrutiny before establishing support for any coin. But is is not 100% full proof way to find a good coin.

[cryptoaddictchie]

2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice.

Yes this is applicable but rarely some give feedbacks unless someone is very fond of altcoin like myself. Im usually lurking and finding some gem on the crypto space especially the new projects. But I cant even guaranteed its good one since many parameters can be discern out of it. Apparently, only few are altcoin enthusiasts here due to a lot of scams and also this is mainly focus on bitcoin feature, news, update and etc.

[Husires]

The main indicator is that the project is good to be real, those projects that promise the user a lot of tokens, most of the distribution of currencies is short-term, the focus is on paying for advertising and advertising, the developer team controls a percentage of the assets, and there is no long-term plan or thinking to solve a problem.The currency is not required to be scam to avoid it. If it was a failed investment, then it and scam coin are the same, you will lose your money.

[someone703]

Usually we easily come across scam projects in this market, and it is worth noting here that the size of these is quite low, they only come with the criterion of trend, or tokenmic There are doubts, the team is always vague in sharing information about themselves and the project, or likes to promise to be a competitor to projects that have received a lot of buzz before, as well as like to abuse their work list on big CEX to build trust. Generally, these things will often abuse the greed and ignorance of investors when they first enter the cryptocurrency market, so don't expect too much profit when you need to face reality, have neither the knowledge nor the luck to receive illusory profits.

[FrozenBit]

According to me this can be done by

1) Detailed research about the project and people behind the project.

2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice.

3) Checking the community of the project on social media. If there are lot of bot replies or comments on their posts in social media like Twitter, there is strong chance that the coin price is being manipulated.

These are like general advice but do you some specific signs that newbies can spot in scam projects early. What tips you will give to a new investor to identify scam projects early ?

I want to look at investing first here, that most of us look for profit in the first place, and it's very easy for us to be swayed by exciting news about an opportunity. Just like hearing someone hungry about investing in crypto can make a thousand times profit, but the truth when we get into it, it's like a maze with many different pitfalls, I think to share from OP is also quite interesting, but IMO here is that we should most taste the failures and limitations after experiencing them.

[Rampagoe004]

You can see whether the project they have created is a scam or not by looking at their promises. See how they promise about their projects. What is the price for the initial stage of sales, how much profit or return will they get, and what are the attractive offers from their project. Is it too ambitious or not.

You can check all of them and make sure whether their project is a scam or not.

[Jocuserious]

There is silver bullet to say Project is Scam. Lemme share my thought process if it gelps you.

1. Check Dev Team and their promises are realistic
2. Check any HoneyPots using Dex Analyzers like TokeNSniffer, WuikIntel, HoneyPot.is etc
3. Check their activities in TG, Twitter
4. Check their Tokenomics and justification if they want to hold some tokens
5. Check initial tradings of the coin and find out any trends like they are purposefully pumping to dump or other patterns.
6. Importantly, their project should have Sustainable Earning and Return to investors Model else it will be like Octopus eating himself
7. Invest only you can loose if you trust the project.

Many good point in this list so a newbies can follow op list. A scam project giving many fake promise with news. A real project dev team profile is clear like social and there support is fantastic. They have strong community with larger investors family so for a good project no need long time for token slaes.

[abel1337]

First thing I research first if I found the project interesting is about the project team members. We don't want project team members who don't have any experience in doing things or at least have no achievements to present in the community. Second thing is deep checking their project white paper to see their plans and problems to be solved. Third is their road map. You need your personal decision to identify if their project goal is achievable in that certain amount of time because not achieving it at that time means that the potential of them losing their token value in the long run is high. Though if you think that the team members and project roadmap is fake that they get to the point that they plagiarize it and if it is too good to be true, then you can identify it as a scam project.

Even if you identify the project as a legit project, there still a chance that they are just a good scammer. It always happen, just be careful. Remember to not invest in too good to be true projects cause it is probably a scam project.

[Ojima-ojo]

The best one to identify the scam project by checking the profile of owner and associates in the social media.You have to check with the social media like Facebook,Twitter and LinkedIn will be enough.Because most the real projects will share their own real Id without fear,So they can assure to run the project in long run.Most of the good projects will survive over a couple of years, it was easy to earn good profits from good projects.

Sometimes those scammers are so smart to the point of building a fantastic social media account..with huge followers who are made up of tons of bots accounts all with the aim to deceive their victims into beliveing that their have a solids team behind the project, meanwhile there is no single team or just a grouo of scammers that call themselves team.


When it comes to altcoin investment, its better to invest in already active top coins in that way you can easily check their previous price chat and movement to know what exact to expect rather than being lifted on promises of the team involved.

[Bitstar_coin]

As a new investor who have no clue about market behavior it will be best to stick to top coins, this can't be emphasizes enough because of the various scam activities that usually happens in this space and most especially to new investors who can not identify scam projects from real projects.
It takes a lot of researching, observing and reading different guide to be able to identify scam projects and avoid them but not everyone has the time and patient for it.   

[Bolivar_Tony]

In summary

To identify potential scam projects early, new investors should:

Conduct detailed research on the project and team.
Seek advice from experienced members on forums.
Check for manipulated social media activity.
Look out for lack of transparency.
Be cautious of unrealistic promises.
Verify the authenticity of whitepapers.
Scrutinize partnerships and endorsements.
Avoid high-pressure tactics.
Stay vigilant, trust your instincts, and perform thorough due diligence to mitigate the risk of falling for scams.

[palle11]

These are like general advice but do you some specific signs that newbies can spot in scam projects early. What tips you will give to a new investor to identify scam projects early ?

This is a wide range and important for newbies to be aware of. Scam projects can be deceitful and you can look at the manager handling the project, if the token is escrowed.

I believe if a project that has not been listed asking you for KYC should be a red light. This is mostly the case with bounty projects. I think I had a thread with lots of contributions on that, you can check this thread for some of the signs also covered therein the link https://bitcointalk.org/index.php?topic=5230885.msg53975958#msg53975958

[coin-investor]

What tips you will give to a new investor to identify scam projects early ?

If the project has no usability and thrives on shilling and there are loopholes on their whitepaper and the team then these signs are considered a scam if you look at the scam sections so many projects are exposed as having a plagiarized whitepaper and fake team.
The project is just a copy of existing projects and their type of marketing is shilling, for me, new investors should not invest in new coins and just concentrate on coins that have proven their worth in the market unless they have huge capital and are willing to take risks.

[lalabotax]

In fact, sometimes, no matter how detailed we analyze, today's scammers are very skilled. In fact, they liven up social media and seem to be really an active group. Their marketing methods are also sometimes no less intense than legit projects. It's kinda hard now. The point is if you are ready with the risk, enter into a new project but still make decisions from various analyzes. But the risk will always be there and be prepared. or don't enter the new project, it's better to just top coins which is more reliable.

[serjent05]

According to me this can be done by

1) Detailed research about the project and people behind the project.

2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice.

3) Checking the community of the project on social media. If there are lot of bot replies or comments on their posts in social media like Twitter, there is strong chance that the coin price is being manipulated.

These are like general advice but do you some specific signs that newbies can spot in scam projects early. What tips you will give to a new investor to identify scam projects early ?

Aside from this check about their whitepaper and roadmap.  Most of the scam projects are just a copy of another cryptocurrency that became the trend.  Too good to be true promises and developers don't want to show their pictures.  Making high-profile personalities on LinkedIn part of their team without the person knowing it.

About the project, there is no need to research that, we just need to verify the validity of the claims of the developer about their accomplishments.

[bittick]

when the devs are so money oriented, you know they don't care about the project at all but only money is of their interests.
i've seen many projects that ended up become scam have the same stingy devs that are just there trying to get all the money.

[trendcoin]

I think roadmap, whitepaper and identity of team members are important issues. Anonymous developers are not welcomed by investors nowadays. Developers must have a clear and verifiable identity. You should definitely check the roadmap of the coin or token you want to buy. In this way, you can understand whether the project team is faithful to its word. A unique whitepaper detailing the business model is also essential. Scam projects generally leave these stages incomplete in order not to leave any traces. However, of course, doing all this will not protect you 100% from dangers because this market is unregulated and open to all kinds of dangers.

[JeffBrad12]

there has been so many characteristics of scam projects being mentioned above but I think it's also necessary to add some facts in regards of heavily manipulated projects.
in which could be having the same after math like scam projects that is causing massive loss towards many of us.
one of them being, the devs having full control towards the smart contract, basically allowing the devs to mint some new token.
even worse is when the smart contract using upgradable contract mechanism in which expose to the potential of being rugpulled, but then again, people could always determine this smart contract deployed through extensive reviews made by some experienced companies.

[passwordnow]

when the devs are so money oriented, you know they don't care about the project at all but only money is of their interests.

Yeah, this is a red flag when they talk about money, money and none other than money and returns.

i've seen many projects that ended up become scam have the same stingy devs that are just there trying to get all the money.

Greed is on those developers and that can't be helped and stopped unless all of them have become exposed to their nature. That is why as an investor and if you're wth these projects that still gives you interest, you need to safeguard yourself and have a standard the least.

[lovesmayfamilis]

I would advise new investors who do not have a good knowledge of crypto not to get involved with alternative coins at all. There were, are, and will be many newcomers to projects that may not be fraudulent; that is, they do not carry the idea of deceiving investors, but they have little strength for development. Ideas can be exciting and attract publicity at the first level, and even the people who are involved in the project can have famous names, but sooner or later everything turns into dust. If you want stability, trust Bitcoin, although investing in it is quite risky. But if you are attracted to altcoins and their promise of rapid growth and profits, get ready to lose everything. Many have stumbled with faith in alternative projects and have concluded what is more important to them.

Stay vigilant, trust your instincts, and perform thorough due diligence to mitigate the risk of falling for scams.

All right. If there is even the slightest doubt, you are not mistaken.