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

[bluebit25]

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.

Yep, those are the signs that we can easily recognize sh*tcoin things. Checking smart contracts helps us somewhat know the quality of that project, but most people who come into contact with hype projects expect big and fast profits, like playing the lottery. Of course, if you don't have skills, or even if you have skills, you can easily be attracted by promises of profit. After many trends have appeared, we all understand that this field has seen a shift in current trends. When scammers are more active, they break the nature of trends and even seasonal things. So there are many beginners who make mistakes when starting out. I always feel sorry for those who start without learning the basic principles of the investment process.

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[el kaka22]

Shitcoin is not something you can see, but meme is something that promotes itself. If something comes up with a name "apeshibadogecoin!" and you see that, know that it's full fake and horrible. I have seen one called PEPEAI, it was using pepe and also AI in the same name just to make sure people buy.

And there wasn't even anything AI about it neither, it literally had zero AI in the system, it was just using the name, and promising something related to AI will be added on later when you give them enough funding, I am sorry but I can make an AI product if you give me enough funding too, or you can too, everyone can do that if you give them enough funding, that is not really why people like to fund projects, you need to have something in your hands.

[mich]

Well I think a new investor needs to be careful with investing in a new project. There is thousands of projects that we know are going to fail or will in the end do a 'rug pull'.

But a new investor will still want to invest if project can look profitable. We need to be careful how the project handles itself on forums and social media. If it does sound like the profits is too good to be true then it is good chance to avoid the project.

[mattujusuruga]

Be wary of premature project partnership announcements. Especially if the project has not existed for a long time. Building a strong reputation among companies such as venture capital firms, media or large stock exchanges takes time and effort. Questionable endorsements or celebrity given token boosts, can also contribute to making a project seem more important than it actually is. Remember, the scammer's goal is to increase the perception of the project's importance, which then translates into positive price action, further generating FOMO in its eventual victims. Therefore, we must carry out careful in-depth research in order to avoid losing money, especially as finding the latest forms of fraud is not always easy.

[Luffygroove]

Identifying scam projects early is like navigating a minefield; they're getting smarter. I've been burned by a seemingly solid project that went kaput, draining all capital. Despite having a good team and product, they just pulled the plug. I recall us developing the app, and suddenly, the CEO dropped a bomb, canceling the project. For me, a doxxed CEO and team is a plus. It means they won't sacrifice their reputation for a crime. It might fail, but at least it's not a scam or rug pull, a tough lesson in the unpredictable world of crypto ventures.

[asrinur]

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 ?

You provide good advice for new investors in identifying fraudulent projects. In addition to these suggestions, there may be additional steps that can help identify fraudulent projects early.

1. Check the project whitepaper carefully. See if the information is clear, credible and detailed enough. Avoid unconvincing project whitepapers.

2. Explore the background of the development team members. Check the background of the development team members. whether their team's experience, expertise and track record. A transparent project will have a verifiable team and a convincing track record.

3. Be alert for suspicious signs related to fraudulent projects, such as promises of big profits that don't match the reality.

4. Ponzi schemes, or unreasonable requests for funds. If something like that happens then be careful.

[MFahad]

1. Check the project whitepaper carefully. See if the information is clear, credible and detailed enough. Avoid unconvincing project whitepapers.

A lot of times, projects that have evil intentions often copy the content of the whitepaper of a different and similar project that they are copying, and I've seen this myself. I remember, there was a project, probably a scam, that had a lot of similarities with another project that was released or started earlier, and upon checking, I found out that a lot of the content on their website and whitepaper are simply copy-pasted from the other project, word by word.

In such situations, a person who doesn't know about the other project would think it's a legit project because it has a very good whitepaper and very good content. However, if someone does a simple research using the content, they can easily find out about it. So, I always advise people to do a simple Google search with the content of the project's website and

[Dr.Osh]

1. Check the project whitepaper carefully. See if the information is clear, credible and detailed enough. Avoid unconvincing project whitepapers.

A lot of times, projects that have evil intentions often copy the content of the whitepaper of a different and similar project that they are copying, and I've seen this myself. I remember, there was a project, probably a scam, that had a lot of similarities with another project that was released or started earlier, and upon checking, I found out that a lot of the content on their website and whitepaper are simply copy-pasted from the other project, word by word.

In such situations, a person who doesn't know about the other project would think it's a legit project because it has a very good whitepaper and very good content. However, if someone does a simple research using the content, they can easily find out about it. So, I always advise people to do a simple Google search with the content of the project's website and

well, basically they will do everything they can to attract the attention of investors. In fact, for scammers who are so intent on defrauding investors, they will create a really good project, and as you said, they will probably try to copy another project's whitepaper to make people feel that this is a good original project.
However, the solution in this case is to continuously carry out research, starting from the team, even to the community. Apart from that, don't forget to ask other people who are more experienced, or maybe ask on this forum.

[Tipstar]

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 ?

Researching about project and team consist of finding what degree of work had been made on creation and planning of the project. A roadmap and plans to increase uses in future. A scam won't provide a detailed plan and it might be a copy of something else.
It's rare to find the details about the people behind a new project these days but of those that provide, it's easy to find more about those people on internet. Most of the scams have shady linkedin and twitter profile while popular real people are also covered in news (real ones).
The forum sure is a good place to see discussion but you won't find good gems early here as most new coin suggested are likely shill post. I look for listing on popular exchange and look for their utility, compare the alternatives and look when I might get a price deal on the projects as most of them pump at the initial listing.

[johnsaributua]

Give an example (with data and facts) of a big scam that could open his eyes that not all projects have the same responsibility, because to this day many projects are slow to develop and abandoned also when the sale is closed. Sadly and this is still happening. cheap prices are not a guarantee and expensive prices cannot be identified as the best projects.

I myself read more tokenomics and Twitter (especially which followers managed to be mentioned and justified and I usually see active followers and not bots above 100,000 followers) or some people who have a big influence. Because if the developer is transparent with investors, nothing is covered and natural, of course it is more and reflects professionalism than the whitepaper and roadmap are brilliant but there is no care and interaction, of course it is the same nonsense, the project needs a community for marketing, and good involvement. and users need developers to consider what progress is being released.

All projects can plan as high as the sky but solidarity creates a wave of market gaps in the enthusiasm of new altcoins. Indeed, the final result is that no one knows about the scam or developing project, but the attitude that is seen should be able to reflect the character of the developer in running his project even though it is slowly.

[Belarge]

Shitcoin is not something you can see, but meme is something that promotes itself. If something comes up with a name "apeshibadogecoin!" and you see that, know that it's full fake and horrible. I have seen one called PEPEAI, it was using pepe and also AI in the same name just to make sure people buy.

And there wasn't even anything AI about it neither, it literally had zero AI in the system, it was just using the name, and promising something related to AI will be added on later when you give them enough funding, I am sorry but I can make an AI product if you give me enough funding too, or you can too, everyone can do that if you give them enough funding, that is not really why people like to fund projects, you need to have something in your hands.

Projects can failed to pump to the moon, after much money put behind to milk from the project, the false beliefs from other top influential men, what will happen to the one person that convince everyone to indulge in the project? The market comes with different projects, some tend to looks legit but deep down, they're one of these numerous scams in the system. We tend to apply safety in whatever activity we anticipate in because none of us would want to see the downfall of other colleagues in the market.

[Hispo]

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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 believe one of the best things one can do while seeking for projects is to use the Blockchain explorer to check the distribution of the tokens or the coins among all the existing wallets, that helps to know whether the creators of the coin/token are whales who could easily dump the value of the token and run with much of the money.
Another thing I would like to point out is checking on the liquidity in decentralized exchanges, it is important to know whether it is possible to easily sell and purchase the token one wants to invest in, if there would be a way to verify the number of liquidity providers on the decentralized exchange it would be ideal, the more providers of liquidity, it becomes less likely for us to become a victim of a rug pull.

Also, checking on the team behind is project is advisable, but rarely the team of a project are willing to put their actual personal information out there for others to see, regardless their coin/token being legitimate, so sometimes this is not completely a deal-breaker.

[JeffBrad12]

Well I think a new investor needs to be careful with investing in a new project. There is thousands of projects that we know are going to fail or will in the end do a 'rug pull'.

But a new investor will still want to invest if project can look profitable. We need to be careful how the project handles itself on forums and social media. If it does sound like the profits is too good to be true then it is good chance to avoid the project.

its honestly easy avoiding rugpull just invest in a project that are invested by venture capitals and we can avoid rugpull really easily to be honest.
the thing is that some people are still fixated with random coin doing presale through dexes even more ridiculous meme coin doing presale, a meme coin was supposed to be for fun but some devs are just too money hungry to let that money grabbing chance missed so they did some presale, as a result the meme coin got rugpulled.
just stick with coin that are invested by venture capital they are definitely already thoroughly reviewed by the venture capital team and will definitely become bountiful investment in the future.
otherwise we will be having some unnecessary risk in the future if we dont just avoid those shady presale altogether.

[Victorik]

These days, it is becoming more and more difficult identifying scams. These scammers have really up there game. Now, everything looks clean and near perfect and yet eventually turns out to be a scam.

[BD Technical]

Before investing in a new project, you must know about the project and you must have a general idea that you will invest immediately.  And Sabla wants to see it is not possible stupidity.  In any case if I ask you to notice some things you must follow the project's ICO and IEO and follow the project's website and the project's supply and security to see how it supplies and what the price is and see what kind of exchanger list.  It is better if it is a good quality exchange list.  And you must look like a safe and you must take care to keep it in messenger.

[cryptoknightt]

Shitcoin is not something you can see, but meme is something that promotes itself. If something comes up with a name "apeshibadogecoin!" and you see that, know that it's full fake and horrible. I have seen one called PEPEAI, it was using pepe and also AI in the same name just to make sure people buy.

And there wasn't even anything AI about it neither, it literally had zero AI in the system, it was just using the name, and promising something related to AI will be added on later when you give them enough funding, I am sorry but I can make an AI product if you give me enough funding too, or you can too, everyone can do that if you give them enough funding, that is not really why people like to fund projects, you need to have something in your hands.

I think this has been done a lot, there are so many new projects out there created just to make a profit in a short time, then the project dies, and they create a new project again to do the same thing.
Why do you think this keeps happening?
because there are people out there who keep buying projects like this.

[Bushdark]

This is not just about giving tips of how we can know scam project because this can be very difficult to the newbies.
The more we stay in the market, the more we tend to understand the market. If we know what we are doing and are able to work with so many projects, with that we can know what project really worth our investment. This is why investors that had been in the market for long can always spot bad projects because they might have fallen victim to majority.

[AnonBitCoiner]

I think this has been done a lot, there are so many new projects out there created just to make a profit in a short time, then the project dies, and they create a new project again to do the same thing.
Why do you think this keeps happening?
because there are people out there who keep buying projects like this.

People lost their money in one scam project but they never realize the fact that there can also be same project which are newly generated project and they don't read about the project's whitepaper which is most important point for knowing about project.

Newbies do this thing most of the time and repeat the process again and again as a result of which they loss their money and also make the project trendy which become end when a slight negative news comes to hear. All new project are not scam and one can easily predict about the project by giving little timing to investigation and reading detail about the newly originated project.

[oktana]

Tip 1: wherever you hear or whichever project tells you that when you invest money with them, they’ll double it or triple it, run pretty far because that building will collapse. Additionally, if a project is being too sure of returns, you need to check them again and be very careful because the market is never certain and luring you to invest with assurance that you’ll get interests in no time can be deceitful.

Tip 2: check their socials and telegram community (if any), see how much people are also interested in them. Do people believe in them or just unnecessarily hyping them.

[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.

Be careful that if the new projects are doing bounty campaigns somewhere, then chance of the meaningless comments appearing are really high because somehow they just don't bring any organic comments to the thread and they just make a generic comments possible and hence why the team sometimes don't really like the result of those because of how bad the comments are.

I just don't bother to check the comments on social media, because it's just full of that. I only check the telegram and only the official announcements on twitter because I find it really reliable.