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

[Oasisman]

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 ?

That's indeed a general tips, however it is not only the scam projects that can cause your invested money to lose. You will also need to keep in mind that not every project becomes successful eventually 1 out of 20 projects might become successful and gain good value in the market. So, that's what makes these new projects a very risky investment in crypto space. One important thing to look at is the community and investor's interest into a certain project - that means you need find a community with mutual interests.

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[nyashenka]

I think that the most important is to check what exactly product the project offer and how useful is this project and how many people will use it. It is also necessary to check the team to understand how it can to realize all planned ideas.

[Apocollapse]

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.

Someone want to create a new altcoin and then after they read this post, they will do this thing:

1) They will hire someone who experienced to create an altcoin, so it will help the project to make sure anything can be accessed to public. They will create fake linkedin accounts and claimed each of them are professionals.

2) They will buy high ranked accounts in this forum and vouch the project.

3) They will hire people to shill their projects and make sure no reply is like bot.

Now the project already looks legit and they can start to scam

[justdimin]

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.   

I completely agree with you on that one, I believe newbies who are new in the industry should first learn everything and then think about investments, and initially, the best practice for them would be to only invest in the top and trusted cryptocurrencies that too when they are low in order to learn how trading works if they keep doing that and stay in the market, they will slowly start understanding everything and will be able to identify legit and scam projects over time.

That's why it is better to not invest in new projects if you are new to cryptocurrencies because you can lose your money and won't even earn anything nor will learn anything, but if you invest in trusted coins and learn from them and from around the industry, you will one day be able to easily spot scam projects.

Newbies who go into new projects have one thing on their mind; "I am too late to making big amounts of profit from bitcoin, that can't go x100, so I should invest into something new and take the risk, maybe I will find next bitcoin". We all know how many of them end up losing their money because of this, and that is why it doesn't make sense to invest into new things and we all know that's not going to be a smart decision even for veterans let alone newbies.

However, that doesn't mean that we are going to not do it neither, there will still be some people who will do it one way or another and I believe that we shouldn't be really shocked about this neither, we should be considering this as normal and just hope that people do not invest all their money into it.

[Dr.Bitcoin_Strange]

I know that during some ICOs, presales, or pink sales, most of those projects are scams, and they go to every length to make sure that they advertise their coins or tokens so that they will get huge investors, and at the end of the day, they will run away with investors fun. About ICOs, I would advise a cryptocurrency new investors to avoid buying a token on the pink sale, or perhaps he or she should just avoid buying a token on presale and only buy the token after it has been listed on CEX. Listing on CEX doesn't even guarantee success for the project, but at least it will reduce the risk of buying a token for $2 during the pre-sale and selling it after listing on CEX for $0.5 (lol). That's how it always happens. Although, there is still some possibility that the token could leta get pumped, if it's not a scame project. So, newbies should avoid investing in ICOs unless they are ready to bear the full risk of losing their money. Also, on the internet, any person who asks you to send your coin to them so that you will earn 10%, 50%, and 100%, respectively, within a week or few days of investment should be avoided; it is obviously a scam.


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

[QueenVera]

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 ?

Scam projects are always about the price appreciation and comparing it to other popular coins because they know their project don't have any value but by keeping the hype in their community groups high, new investors will keep investing in their project, observe the discussion ongoing on in their group.
Projects that want to grow will be focused on development and not first and not concerned about the token price because they know they'll appreciate in the future if they can deliver on their promises in the whitepaper. Good project doesn't have thousands of supporters when they start so watch out for that.
Scam projects buys thousands of bot to their telegram group so they look legit and convince new investors to buy their tokens. Legit project grows with time as more investors get to know about the project because of them getting listed on top exchanges and giving their investors good profits.

[TastyChillySauce00]

You can go into the official website of the project then checked all of the member of the TEAM.
If they don't put the face of the member of TEAM i can guarantee it almost scam project.

How can you know whether they have been putting their real face or not? i have experienced that so many teams were faking their faces. It's caused by they wanna only fooling investors. This is the main problem.

It's better to join in a project that has been fully doxxed by the trusted company rather than gambling on their faces that showed on their site.

[SaveOurSea]

You can go into the official website of the project then checked all of the member of the TEAM.
If they don't put the face of the member of TEAM i can guarantee it almost scam project.

How can you know whether they have been putting their real face or not? i have experienced that so many teams were faking their faces. It's caused by they wanna only fooling investors. This is the main problem.

It's better to join in a project that has been fully doxxed by the trusted company rather than gambling on their faces that showed on their site.

It is true that there are many cases like that, therefore, to minimize the risk, it is better to join a project that is clearly carried out by a trusted company,
we need to take the time to do research and that's very important,
they scammers have many ways so we have to be careful.

[lalabotax]

Some specific signs that newbies can spot in scam projects early are:

Unrealistic promises of high returns or guaranteed profits
......
Fake endorsements from celebrities, influencers, or reputable organizations

These two things are things that happen very often and make newbies fall into scams or ponzi schemes. sweet promises will multiply money quickly from investing in a new project especially with the support of certain celebrities for promotion, or with various false promises and evidence, some or most newbies will believe easily. Unfortunately, not all of them are willing to study first and be more thorough. Most only focus on the money they promise so they will easily fall into the trap of scams. This happens very often but it seems like it keeps happening over and over again.

[iv4n]

You can go into the official website of the project then checked all of the member of the TEAM.
If they don't put the face of the member of TEAM i can guarantee it almost scam project.

It's even funnier when they put pictures of cartoon characters... it screams "scam" right from the start!

Some specific signs that newbies can spot in scam projects early are:

Unrealistic promises of high returns or guaranteed profits
Lack of transparency or verifiable information about the team, the technology, or the roadmap
Fake endorsements from celebrities, influencers, or reputable organizations
High pressure tactics to invest quickly or miss out on a limited opportunity
Poor grammar, spelling, or design on the website, whitepaper, or social media posts

Nice comment... if we notice anything from what you wrote it should trigger the alarm in our head. Most of the scams have unrealistic promises, we can never forget the old one "If it’s too good to be true it probably is”.

So the best tip for new investors is to check everything, literally everything... starting from grammar, website design, WP, roadmap, etc. And if anything raises any suspicion, just turn around and walk away.

[gurunanakji777]

It is important to exercise caution when investing in the cryptocurrency market. Prior to making any investments, conduct thorough research on the project you intend to invest in. Verify that the project's team members are easily accessible and have a visible presence to the public. Examine the team members' profiles on social media platforms. Engage with the team members to address any inquiries or concerns you may have.

Evaluate the activity level of the project's social media platform. Ensure that the team is actively responding to queries and that the group does not contain excessive spam posts. Be wary of unrealistic promises of high and rapid returns.

Examine the token distribution and supply. If a significant portion of the tokens is held by a small number of individuals or if the team appears questionable, it could potentially lead to price manipulation.

By adhering to these guidelines, you can minimize the risk of falling victim to scams. Most importantly, only invest funds that you can afford to lose.

[TheUltraElite]

I think that the most important is to check what exactly product the project offer and how useful is this project and how many people will use it. It is also necessary to check the team to understand how it can to realize all planned ideas.

The project idea of sells then the project will do good, this is a known fact. But most of the newly launched coins don't solve any existing problem rather load up the cesspool of shitcoins with more. Hence you can go by that idea and you will realise that most coins are worthless and thus stop yourself from investing into them. There can be an occasional good apple but that will not get the deserved attention because of the noise made by other coins.

This and working on the team members background yeilds a lot of insight on how the project might progress. I always tell people to give at least a couple of years if unsure about investing and then watch them before buying in.

[Mrbluntzy]

 The best way to identify a scame project is if we do some research about the project, the research should not just be on one aspect of the project, but every aspect of the project should be properly researched on, otherwise you might not know if it's a scame project.  Also, there are some projects that have Announcement topic on the Altcoins Announcement board, newbies should look out for those announcement topic of any project and ask some questions about the project in their ANN topic. If a newbie do a proper research about any project, it will be difficult to invest into scam projects.

[QueenVera]

Some specific signs that newbies can spot in scam projects early are:

Unrealistic promises of high returns or guaranteed profits
Lack of transparency or verifiable information about the team, the technology, or the roadmap
Fake endorsements from celebrities, influencers, or reputable organizations
High pressure tactics to invest quickly or miss out on a limited opportunity
Poor grammar, spelling, or design on the website, whitepaper, or social media posts

Poor grammar, spelling or anything that doesn't have to do directly with the project doesn't mean the project is a scam. Sometimes it might be they hired an unqualified community managers and they haven't noticed the manager to be inexperienced for the job. The management of social media is a community manager Jobs.
Some projects teams are anonymous but that shouldn't mean they're a scam, nobody knows Bitcoin founder but bitcoin isn't a scam and we have some other projects like Shiba Inu and they aren't scam. Some projects founder don't like to be the face of their invention but allow the community to be incharge.
Any project that has fake endorsement is a scam, as no real project will want to associate their projects with fake things knowing that if they get caught they'll lose their trustworthiness from their community but scam projects don't care, they're just lookimg for ways to trend so they can get more victims to scam.

[bastian466]

Special knowledge that everyone wants if we can see from the start that the project has the potential to be a scam because it is very difficult even though we have taken the steps that have been suggested, so I have not dared to start investing, especially in a new project, I have tried many times but I am unsure and fear is always there. therefore it is better to play it safe by investing into the old top altcoins simply researching market movements to determine the right time to buy

[abel1337]

Special knowledge that everyone wants if we can see from the start that the project has the potential to be a scam because it is very difficult even though we have taken the steps that have been suggested, so I have not dared to start investing, especially in a new project, I have tried many times but I am unsure and fear is always there. therefore it is better to play it safe by investing into the old top altcoins simply researching market movements to determine the right time to buy

The risk won't disappear even if you are confident with the project you are investing. There's always a risk in investing and doing research with the project helps you to reduce the chance that you will get scammed or take a loss on your investment. Investing on a project can possibly make you generate good amount of profit but playing safe like investing when the project had been deployed and it is saw by the community that it has a potential, the profit margin you will earn is not that high. I believe knowing a scam project is not a special knowledge but an accumulative experience from various projects. Small details can make you know what's legit or not.

[konflikkastil]

When investing in cryptocurrencies, it's crucial to be vigilant and cautious to avoid falling victim to scam projects. Here are some tips to help you identify potential scams:
1. Thoroughly research the project: Before investing, investigate the project's background, team members, and advisors. Look for a clear whitepaper, a well-defined roadmap, and a transparent project website. Lack of information or an unprofessional online presence can be red flags.
2. Assess the team's credibility: Verify the team's qualifications, experience, and track record. Check if they have a strong online presence, engage in community discussions, and participate in conferences or industry events. Beware of anonymous teams or individuals with questionable credentials.
3. Scrutinize the project's goals and technology: Assess the project's objectives, viability, and technological innovation. Determine if the project offers a unique solution or if it's merely a copycat of existing successful projects. Be wary of exaggerated claims or promises of guaranteed returns.
4. Review the community and communication channels: Analyze the project's social media channels, forums, and community engagement. Look for a vibrant and active community with constructive discussions. Be cautious if there's excessive hype, aggressive marketing tactics, or a lack of community interaction.
5. Conduct due diligence on partnerships and endorsements: Investigate any claimed partnerships or endorsements to verify their authenticity. Reach out to the supposed partners or endorsers to confirm their involvement and support.
6. Be wary of high-pressure tactics: Beware of projects that employ high-pressure sales tactics or time-limited offers to create a sense of urgency. Legitimate projects allow investors to make informed decisions without rushing.
7. Check for regulatory compliance: Determine if the project adheres to relevant regulations and has obtained necessary licenses or approvals. Compliance with legal requirements is crucial for a trustworthy project.
8. Seek independent opinions: Look for unbiased reviews, third-party audits, or opinions from trusted sources within the cryptocurrency community. Consider engaging with experienced investors or joining reputable forums to gather insights.
Remember, it's essential to exercise caution and skepticism when investing in cryptocurrencies. If something appears too good to be true or if you have doubts, it's best to err on the side of caution and avoid investing in suspicious projects. Conducting thorough research and due diligence will significantly reduce the risk of falling victim to scams.

[Dessy88]

By checking some samples you can understand a scam project. Like social accounts of those projects like twitter, telegram, Instagram, YouTube Facebook because a good project is active in all their communities. Also you can research about seo in that project to see how true his experience is. If they are promoting any falsehood then you should abandon those projects.

[|MINER|]

The world of cryptocurrency is growing day by day and along with its growth are also increasing its scams and new methods of those scams. So the current situation is very difficult to understand which project is going to be a scam and which project is legit. But even then following some basics to understand scams I think you will want to avoid scams even if you don't identify them. Like seen the background of this project who is behind of this , check the developer, verify the certificates and check the information is true which given by them. Visit their white paper and take help from forum or others community to more info.

[lobo13hf]

refrain from investing in a project that falls under category of shitcoin and meme coin, usually these project have no use case, rarely good products its just plain token that they offered and thats it.
you already do yourself a favor saving yourself from investing into shitcoin which definitely have the potential of scamming you.