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

[krishnaverma]

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.

I do not invest in new coins at all. I created this thread to help other new investors who get tempted from huge returns being offered by new coins. One must avoid these coins or his whole trust on bitcoin and ecosystem will collapse.

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[Hypnosis00]

Generally, it emphasizes here the importance of doing deep research on a particular project before investing. This is the most important thing to do in order to avoid falling into scam projects because even if it was suggested by some forum members and any influential personalities, it is our obligation to undergo separate assessments just to make sure that we are investing in the right project. Because what I see is that many people (new investors) had invested in new projects without any piece of information about the project, they only just hear it from some friends and then believe it. But it was not enough, we should be more cautious when investing knowing that scam projects are flooded in the market already.

[sulendra12]

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.

You will see this point quite a lot of the project is running a bounty campaign to promote their projects. Most of the comments there are just garbage and so many recycled words that is not bring nothing constructive into the projects.

I would not recommend checking the Twitter for this kind of matter, would be better to check the telegram to see how well they manage to answer any queries from the askers both investors or just lurkers. You'll see something good there based on how well they answer and how the supporters acting.

[Ziskinberg]

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.

I do not invest in new coins at all. I created this thread to help other new investors who get tempted from huge returns being offered by new coins. One must avoid these coins or his whole trust on bitcoin and ecosystem will collapse.

Perhaps, we can't fall into scam projects if we are able to determine whether that project is a scam or not but at some point, some promising projects had also turned into scams, and Terra Luna is an example.  I would say that it was hard to determine early if the project is a scam or not because these developers are clever enough to keep their intentions, sometimes we only got surprised.

This is why if we have to invest in crypto, better to choose only those projects that it has existed for many years and still show good performance like BTC, ETH, and BNB.

[Cling18]

Generally, it emphasizes here the importance of doing deep research on a particular project before investing. This is the most important thing to do in order to avoid falling into scam projects because even if it was suggested by some forum members and any influential personalities, it is our obligation to undergo separate assessments just to make sure that we are investing in the right project. Because what I see is that many people (new investors) had invested in new projects without any piece of information about the project, they only just hear it from some friends and then believe it. But it was not enough, we should be more cautious when investing knowing that scam projects are flooded in the market already.

I certainly agree especially now that everything could easily be faked from followers to ratings, websites and more so we really have to be careful and skeptical. Deep research is the only thing that we can do to double check the legitimacy of a project.
We shouldn't just rely on what we read and what we see as they could be easily faked and manipulated just so they could gain attention and trust of their investors.
We should know the reputation of the team behind each project and check if they have a concrete plan in the long run. Scam projects sre everywhere these days and most of them looks legit so we have to be careful.

[TheUltraElite]

You will see this point quite a lot of the project is running a bounty campaign to promote their projects. Most of the comments there are just garbage and so many recycled words that is not bring nothing constructive into the projects.

I would not recommend checking the Twitter for this kind of matter, would be better to check the telegram to see how well they manage to answer any queries from the askers both investors or just lurkers. You'll see something good there based on how well they answer and how the supporters acting.

Social media are complete no on. I have been following some older scam projects and they used to populate their social media with paid posts and now they are dead lying with a handful of followers with zero activity. Looking back at the time they were active, it would have seemed that the project would have been a huge landmark one, but of course this is only a facade.

Hence to evaluate a project, analyse their teams their backgrounds and the feasibility of the project and whether it solves an actual problem, like I have said in many posts, such projects are almost non-existant in this niche market.

[krishnaverma]

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.

You will see this point quite a lot of the project is running a bounty campaign to promote their projects. Most of the comments there are just garbage and so many recycled words that is not bring nothing constructive into the projects.

I would not recommend checking the Twitter for this kind of matter, would be better to check the telegram to see how well they manage to answer any queries from the askers both investors or just lurkers. You'll see something good there based on how well they answer and how the supporters acting.

The reason behind this common pattern in all projects is that they outsource this work to same companies most of the times. Or in worse cases, same person is behind these multiple difference scam coins.

[GreatArkansas]

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.

For me, this is the most important because there are a lot of projects that are fake, like whitepapers are fake, their social media or websites are fake, and followers are fake.
Also, check the community because some could be fake, try to google also, and search some keywords. And verify also their team if they are legit because some projects are using fake names or names that are famous without really them knowing.

[0t3p0t]

Too good to be true promises in some projects maybe a sign they are just fooling with investors. Social media accounts can be boosted to make it more legit looking that is why it is too important to make your own due diligence. Even with reputable teams a project is not guaranteed to be successful. I experienced projects before on signature bounty that has reputable teams but end up with shitcoins. So beware! 😅

[siniminomorocomunisakito]

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.

One side for the OP too and one side for those of us here who are still young in understanding. Maybe OP's advice is also useful, especially for newcomers. From the OP to point number 2, namely 2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice. I'm pretty good and that review is what we're really waiting for here.
     

[Adreman23]

My opinion on identifying a potential crypto scam early is to conduct thorough research. Look for any flaws or red flags in the project. Some people, however, tend to prioritize finding what will hype them up, often investing first and researching later. They search for green flags even when the value of their investment has dropped significantly, perhaps to ease their fears or maintain the belief that their tokens/coins will eventually surge.

My advice would be, for instance, if you've found a crypto project you really like and are certain about investing, plan ahead. Establish exit prices for both downturns and upswings to manage your investment risks effectively.

[gabbie2010]

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.

For me, this is the most important because there are a lot of projects that are fake, like whitepapers are fake, their social media or websites are fake, and followers are fake.
Also, check the community because some could be fake, try to google also, and search some keywords. And verify also their team if they are legit because some projects are using fake names or names that are famous without really them knowing.

Well there are had been some projects whose social media always give prompt updates and replies to enquires in all their social media platform yet the project ended up a scam this is from personal experience, I invested in that project in 2018 it was well packaged, promoted and well advertised with a well define roadmap, I so much had confidence in the project that it going to be a successful project, they did a successful bounty campaign here launched an ICO phase 1 and phase 2 and all their investors were looking forward to the successful launching of their token in a reputable exchange Lo and Behold they suddenly disappeared without any traces it was a big disappointment henceforth I can invest with the money I can afford to lose in any new project.

[Velemir Sava]

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.

Maybe it's good but in my opinion It's a bit difficult to identify fraudulent projects early and requires in-depth research, critical thinking and vigilance. one way is to look at the whitepaper, evaluate the partnerships they have established, whether there are any red flags and of course this at least increases the chances of avoiding fraudulent projects and making the right investment decisions.

[Publictalk792]

Here are a few more tips:

1- Not Realistic promises:
If a project is making unbelievable claims of guaranteed high returns or quick profits with little risk(like they will say give 1x and they will give 10x in few hours). Don't fall in these kind of projects.

2- Lack of transparency: Scam projects don't provide clear information about their plans team or progress. If you get any problems to find detailed information about the project so be careful and never invest in these projects.

3- Poor support: If the project team don not respond to questions so in my point of view it's a warning sign. Good projects always give a good support to the users and will give answers of your questions.

4- Copying from others: Scam projects copy content from reputable projects or websites.If you see a project that has copied content so you ( newbies) should think before investing in it.

Always do your own research and never invest according to the others suggestions.

[btc78]

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.

One side for the OP too and one side for those of us here who are still young in understanding. Maybe OP's advice is also useful, especially for newcomers.
     

some investors have already mastered knowing the right entry and exit strategies so they might be able to profit from memecoins

most memecoins are definitely best for short-term only so that should be kept in mind some investors who have been investing for a long time might not be as eager to “waste” time and resources in memecoins or they might not be as knowledgeable about memes in general

[batang_bitcoin]

The best thing that a newbie investor can look at is with the developers and everyone who's part of a project. Looking at the team, if you are familiar with some known notorious developers then you're not going to waste your time looking at them.
And if you find someone that's not real like a grabbed photo and name then that's another factor why you need to avoid that project and even if they're good in the marketing and enticing you as investors.

[Sophokles]

A scam project has one common characteristic. Most of them use greed to attract investors to them. They offer a high APR, bonus, imaginary future rewards or some kind of benefits that is not easy to resist for an investor even they identify them as an scam project. What they do is distribute rewards to their early members and they are the ones who market that project throughout the crypto industry. Later participants are the ones who took the financial loss. There are some scam identifier project in twitter you can follow them as well.

[AnonBitCoiner]

Investigation is necessary but sometimes a person Investigate about a project but after sometimes the project become scam. Actually in bear market lots of project become down so they are mostly consider as scam project. It will be helpful if we try to know about the project manager as we can search about the history or can see past results of project created by that manager but a person with little knowledge will not take it serious to search about desire project.

Investigate about the aims and vision of the project and also know the listing mechanism and exchange at which it's coins will listed can also be beneficial in order to accept or reject certain project. You can search about the value of token but sometimes token does not have any value but when they listed on exchange then these token can make a person lucky.

[Sebas.tian]

Do everything possible to know the team members in that projects before embracing the project, because it will be difficult to see potential investors around fake projects in the community because they have all the tools to identify them easily. Try to carry out your personal research before making your final decision in that particular projects no matter the evidence you get from members in that particular projects but ensure you research how strong the teams are and how old are they in the community before investing your money.  Always ask questions when you notice some things you have never experience before in the project, and the answer you will get from the question will determine if the project is fake or real.

[Silberman]

Do everything possible to know the team members in that projects before embracing the project, because it will be difficult to see potential investors around fake projects in the community because they have all the tools to identify them easily. Try to carry out your personal research before making your final decision in that particular projects no matter the evidence you get from members in that particular projects but ensure you research how strong the teams are and how old are they in the community before investing your money.  Always ask questions when you notice some things you have never experience before in the project, and the answer you will get from the question will determine if the project is fake or real.

If an investor is really looking to put their money in a project that is just being released, they really need to put the project under the microscope and look for anything, no matter how small, which could indicate that it is a scam, thankfully if you know what you are doing it is not difficult to find some inconsistencies in a matter of minutes and avoid investing in that project as a result of your due diligence, however probably one of the saddest realizations you will make if you do this is that most projects are being released by scammers and there are very few real projects out there.