SIGNS THAT A CRYPTO PROJECT IS A SCAM

[Y3shot]

As cryptocurrency continues to gain popularity, more and more people are investing in various crypto projects. Unfortunately, with this rise in interest comes an increase in scams.

 Here are signs that a crypto project may be a scam:

1. Lack of transparency: A legitimate crypto project should have clear information about its team, its technology, and its roadmap. If a project fails to provide this information, or only offers vague promises, it could be a sign that they are hiding something.

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth, investors should be wary of promises that seem too exaggerated.

3. Lack of community engagement: A legitimate crypto project will have an active and engaged community. If a project lacks social media activity or community interaction, it could be a red flag.

4. No clear use case: A legitimate crypto project should have a clear use case for its token. If a project cannot articulate a clear purpose for its token, or its use case seems vague or broad, it may be a scam.
Before investing in any crypto project, investors should do their research and look for these red flags. By being vigilant, investors can protect themselves from scams and make informed investment decisions.

 https://www.binance.com/en/feed/post/804194

[Apocollapse]

1. Lack of transparency: A legitimate crypto project should have clear information about its team

Oh no, there's no transparency behind Bitcoin's team, we're only know the name of the creator is Satoshi, but it's still not known about it's she, he, them, race, religion, face etc. So yeah, we can call Bitcoin is scam and anyone should sell all their Bitcoin ASAP! /jk.

Bank and fiat is really legit because we know the team behind the central bank, they're not lying for offer 0.1% interest rate because they always pay the 0.1% every year.

[_act_]

One of the signs I expected you to mention is plagiarized white paper. Most fake projects have lazy people that just plagiarized white paper.

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth, investors should be wary of promises that seem too exaggerated.

I do not know about this, but if a project presell a token at $1 and said to list it at $5, that may look not realistic. They may also said that the coin mat do 5x more which might happen or might not happen. What unrealistic promise are you talking about?

1. Lack of transparency: A legitimate crypto project should have clear information about its team

Oh no, there's no transparency behind Bitcoin's team, we're only know the name of the creator is Satoshi, but it's still not known about it's she, he, them, race, religion, face etc. So yeah, we can call Bitcoin is scam and anyone should sell all their Bitcoin ASAP! /jk.

You are getting it wrong. Let me give you an example. Assuming the people behind the project said they will list the coin on an exchange, but should make your findings to know if that is true. If you later make research and the exchange said it is a lie, know that it is a fake project.

Also know that some projects may want to be a good one, but later in one way or the other, it becomes bump and dump or become failed.

If you want to invest, I will advice you to invest in bitcoin.

[Zaguru12]

There are so many of these threads already on the forum. It read through all this links compiled by BD crypto. It comprises of threads on this same topic.

3. Lack of community engagement: A legitimate crypto project will have an active and engaged community. If a project lacks social media activity or community interaction, it could be a red flag.

This isn’t much of a red flag again, because most of these new projects even if there are scam spend a lot of funds on getting engagement on social media either through engaging the community with airdrops, bounties or even testnets, and when they lure people in they pull the rug. The most clear example to me is probably the Terra Luna, its massive hype and community engagement then, didn’t stop it from collapsing.

During the early days of some of these shit projects there community interaction is usually high mostly on social medias

[Dzwaafu11]

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam.

It's quite regrettable to find a project online and decide to invest because you trust what they have to say. NOTE that You are about to spend the money you have worked hard and saved into something that promises a high return without conducting adequate research and analysis into it. And you're not confident about it. And I think that before investing in a project, as a long-time investor, one should conduct study. If not, they are putting their money at a very significant risk.

3. Lack of community engagement: A legitimate crypto project will have an active and engaged community. If a project lacks social media activity or community interaction, it could be a red flag.

Because you see cryptocurrency discussions taking place here, that's why you believe all reliable projects should have the same things, which is not the case and they may not be scams. As a result, you believe all reliable projects should have this community or another online discussion space similar to bitcointalk. Therefore, all that is required, in my opinion, is that if someone comes across a new project online or even a cryptocurrency coin, they conduct the right research about that project before moving further.

[Lida93]

1. Lack of transparency: A legitimate crypto project should have clear information about its team

Oh no, there's no transparency behind Bitcoin's team, we're only know the name of the creator is Satoshi, but it's still not known about it's she, he, them, race, religion, face etc. So yeah, we can call Bitcoin is scam and anyone should sell all their Bitcoin ASAP! /jk.

Bank and fiat is really legit because we know the team behind the central bank, they're not lying for offer 0.1% interest rate because they always pay the 0.1% every year.

If there was no transparency behind bitcoin then the digital technology would have crashed and faded away by now just like every other scam projects over the years, and the SEC on the other side would have being able to get concrete grounds to pin the project down. But guess what mate! Nothing as such has taken place and bitcoin is increasingly getting more acceptance and value by the day.

You rather not be mistaking anonymity of Satoshi to a scam. Every bitcoin enthusiast is comfortable with the anonymity of the developer and the decentralization of the currency. I wonder what kind of transparency those fiat banks do offer you anyway.

[Nwada001]

Most projects have gone beyond all these noticeable signs and are nearly perfect to the point where they might all appear to be real in most people's eyes. Before, it was very easy to identify some fake team profiles where they used someone else's photo with another user name to make up their desired team with a fake social media profile. But this time around, it took some projects years and time to keep some things nearly perfect, doing some background checks within themselves before they could come out to the public, and it will be hard to detect that their team is fake because they make the profile appear clean and their selected images are people who are not on social media.
 
Another way that was easier for people to identify fake projects was from their white papers, like the one outlined above. Since they are just out with the intention to scam, all they do is look for similar projects that share the same vision as their intended project and copy and paste the information, just changing the name of the project to that of theirs and the date to recent.

[dzungmobile]

Don't use the referral link which is not allowed. So please edit your reference link and delete the referral part if you don't want your account to be banned.

4. No referral code (ref link) spam. [1]

Use this link is good enough https://www.binance.com/en/feed/post/804194

[nakamura12]

Crypto project team members are fake or copied from other companies should be included in that list. Well, the signs are the basics in my opinion because that's what people do when they want to know if the project is a scam. If you really want to avoid a scam projects then you should not buy their shitcoins or invest in their project. In my opinion, it is better not to buy or invest even though there are some projects that are not scam and just buy Bitcoin.

[348Judah]

You're to determine and concluded from your end on what cryptocurrency you're to invest with and the way you desire to take your research on them before making an investment, it's something horrible to loose money at the course of making additional efforts to source for more with crypto projects, everyone investing on this cryptocurrencies we are seing were taking their personal and individuals risk after which they had conducted their research on them, there's risk everywhere especially when it's all about crypto investment.

[Hyphen(-)]

1. Lack of transparency: A legitimate crypto project should have clear information about its team, its technology, and its roadmap. If a project fails to provide this information, or only offers vague promises, it could be a sign that they are hiding something.

Certain projects have a clear road map and a good-looking project team, yet they end up duping individuals when they earn their trust and invest with them. Most of these projects with monitoring teams are centralized and can never be trusted; the best thing to do is to gamble some money on them for a while if you are clear with the project road map and have little hope with the project team; use Luna as an example; it is a coin that has grown to such an extent that you could not expect their outcome in such a manner, but the project ends up dead within a short period of time.

3. Lack of community engagement: A legitimate crypto project will have an active and engaged community. If a project lacks social media activity or community interaction, it could be a red flag.

Most projects work on their social media and community engagement first because that's where they will catch enough people's attention with good promises that may end up being false. To me, too many engagements with projects on social media are a red flag because they may quickly scam people through social media.

4. No clear use case: A legitimate crypto project should have a clear use case for its token. If a project cannot articulate a clear purpose for its token, or its use case seems vague or broad, it may be a scam.
Before investing in any crypto project, investors should do their research and look for these red flags. By being vigilant, investors can protect themselves from scams and make informed investment decisions.

Bitcoin is the best option to avoid all these scams, but investing in a centralised exchange is another risk. Therefore, to avoid being scammed by the wrong project, just buy and hold Bitcoin because it is less risky and has a transparent and clear roadmap that everyone can see.

[Victorik]

As cryptocurrency continues to gain popularity, more and more people are investing in various crypto projects. Unfortunately, with this rise in interest comes an increase in scams.

 Here are signs that a crypto project may be a scam:

1. Lack of transparency: A legitimate crypto project should have clear information about its team, its technology, and its roadmap. If a project fails to provide this information, or only offers vague promises, it could be a sign that they are hiding something.

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth, investors should be wary of promises that seem too exaggerated.

3. Lack of community engagement: A legitimate crypto project will have an active and engaged community. If a project lacks social media activity or community interaction, it could be a red flag.

4. No clear use case: A legitimate crypto project should have a clear use case for its token. If a project cannot articulate a clear purpose for its token, or its use case seems vague or broad, it may be a scam.
Before investing in any crypto project, investors should do their research and look for these red flags. By being vigilant, investors can protect themselves from scams and make informed investment decisions.

https://www.binance.com/en/feed/post/804194?ref=586507722&utm_campaign=app_share_link

I disagree, a project can have all of these and still turn out to be a scam. So, I wouldn't base my perimeter on all you have you said here. These scammers are getting wiser by the day and are devising new means to scam you of your money.

[nimogsm]

for me, the indicator is primarily a team, and if it is not there, then in 99% of the case the project will be a scam. Also, in general, you mentioned temporary theses on what you should pay attention to before investing in a project. The more the project is open and ready for feedback, it inspires confidence.

[Xal0lex]

4. No clear use case: A legitimate crypto project should have a clear use case for its token. If a project cannot articulate a clear purpose for its token, or its use case seems vague or broad, it may be a scam.
Before investing in any crypto project, investors should do their research and look for these red flags. By being vigilant, investors can protect themselves from scams and make informed investment decisions.

What was the clear use case for SHIB or PEPE, for example? When these projects were yielding hundreds of thousands of percent returns, he was not present. You can apply this question of utilization to the other projects as well. A lot of projects have no product, they are just clones of well-known projects that were created just for speculation. They can live for years and they are not scams. Only a small number of cryptocurrencies have a real use case for their token in the ecosystem. The rest don't have one, but that doesn't make them scams. Just like the projects that had this utility could also be scams, like FTT or LUNA.

[yhiaali3]

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth, investors should be wary of promises that seem too exaggerated.

Yes, all of these indicators are good for knowing the scam project, but for me No. 2 is a very strong indicator, so any project that gives you big promises that are difficult to believe except for beginners who dream of wealth is definitely scam.

[timoshani]

One of the signs I expected you to mention is plagiarized white paper. Most fake projects have lazy people that just plagiarized white paper.

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth, investors should be wary of promises that seem too exaggerated.

I do not know about this, but if a project presell a token at $1 and said to list it at $5, that may look not realistic. They may also said that the coin mat do 5x more which might happen or might not happen. What unrealistic promise are you talking about?

1. Lack of transparency: A legitimate crypto project should have clear information about its team

Oh no, there's no transparency behind Bitcoin's team, we're only know the name of the creator is Satoshi, but it's still not known about it's she, he, them, race, religion, face etc. So yeah, we can call Bitcoin is scam and anyone should sell all their Bitcoin ASAP! /jk.

You are getting it wrong. Let me give you an example. Assuming the people behind the project said they will list the coin on an exchange, but should make your findings to know if that is true. If you later make research and the exchange said it is a lie, know that it is a fake project.

Also know that some projects may want to be a good one, but later in one way or the other, it becomes bump and dump or become failed.

If you want to invest, I will advice you to invest in bitcoin.

This approach from the project team looks strange. The announced price for pre-sales and at the time the token goes public is almost unrealistic. This requires super promotion of the project at the initial stage. This is not visible. Definitely smacks of scammers

[Bolivar_Tony]

That's not really a great highlight point for me even some good project might follow some of the part you mentioned, for me one the major signs for me is when the project team are faceless people and you can't have any trace about them, no socials account for the team members and all, they can exist and no one would hold them.

[livingfree]

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth,

They keep on telling that they're a very profitable project. Runaway from those type of projects because you'll never get gains from them but instead, they're the ones that will gain from their investors.

investors should be wary of promises that seem too exaggerated.

Right.

Many investors especially those that are new to the market are very gullible with sweet words from these projects. They don't think a second thought about the promises they say.

If they don't listen to the advise of others, they'll learn it the hard way.

[judaspriest]

2. Unrealistic promises: If a project promises too-good-to-be-true returns on investment, it is likely a scam. While some crypto projects are innovative and have the potential for significant growth, investors should be wary of promises that seem too exaggerated.

Yes, all of these indicators are good for knowing the scam project, but for me No. 2 is a very strong indicator, so any project that gives you big promises that are difficult to believe except for beginners who dream of wealth is definitely scam.

Indeed, the target is to attract beginners who still lack experience,
so that with the promise of big profits, beginners join the project without research first,
it is better to avoid projects that promise big things.

[Jackl87]

As cryptocurrency continues to gain popularity, more and more people are investing in various crypto projects. Unfortunately, with this rise in interest comes an increase in scams.

 Here are signs that a crypto project may be a scam:

Well if we are following your 4th point, then this means that every single meme coin is a scam because none of them has a real use case and they are all just trying to generate hype and FOMO out of nowhere. To be honest i totally agree with that statement.
There are also a few more signs that a project is crap and just imagining things that will never happen like for example a roadmap that only has points like "listing on major exchange" or "10k holders after a month". That is stuff that does not belong in a roadmap.