How to avoid getting rugpulled

[Iamcrypticguy]

I always try to avoid bad project and i choice always good project for future.

I make sure to thoroughly research projects to avoid potential risks., two mentioned projects by OP that caught my eye (ZETA and COREUM). In particular, Zetachain has been generating buzz for a while now. It's listed on major exchanges like Binance and is currently featured on Bitget's Launchpool. It's been some time since I've seen this much hype surrounding a project like Zetachain. With all the traction it's getting across platforms, It seems worth looking into.

[Volimack]

As far as I'm concerned if you are new to the crypto space then it's best not to use these coins. The coins you mentioned are not trusted by new investors easily. Investing in crypto is risky If you don't choose the right project you will be exposed to a lot of risk. Do market research There are many good coins they are of good quality and trusted investing in them will be low risk.

[Sophokles]

We need to have good knowledge about the project we want to invest in and some common sense to avoid any rug pull. If you look at any recent project that was rugpulled then you will see that those project had little information about the team, and their whitepaper is mostly copied and paraphrased. Some projects even don't have any working websites, but their tokens are already listed in dex. We need to keep in mind that a token's price appreciates when that price is derived from token utilities.

[Beparanf]

I know most people's challenges lie in how much time is dedicated to research new coins regularly. Often, we focus on well-known projects for quick profits, but what about the long-term utility these newer projects might offer? If we do a consistent 3-4 hour research on new coins daily or on coins which get listed (which I do on the above cex I mentioned) you did see that we can bypass some problems of getting scammed or rug pulled.

The best way to dodge being rug pulled is to avoid investing on shitcoin. It’s very hard to determine rugpull unless the devs already committed because not all scam project is very careless to show the sign that they will abandon the project later.

There’s a lot of instances that a good project turn into scam after the CEO decided to run while other member doesn’t know about it. So the best way to avoid being rugpull is to completely stop engaging on it. Purchase only tokens that listed on high reputation CEX with good amount of volume for a long time.

[Marykeller]

Often, we focus on well-known projects for quick profits, but what about the long-term utility these newer projects might offer? If we do a consistent 3-4 hour research on new coins daily or on coins which get listed (which I do on the above cex I mentioned) you did see that we can bypass some problems of getting scammed or rug pulled.

A large percentage of new altcoins/projects do not have any utility, they are basically pump and dump coins that are only influenced by hype and nothing else. How many news coins have real world utility, something people would need and use in the society? Nearly zero.

Having said that, you can research all you want about these projects and still buy a scam coin or a worthless coin, because these projects always have a lot of promises in the beginning, but 9 out of 10 times it turns out to be fake and unrealistic promises, thus i think it is better if people stick with known and older projects.

Should they choose to, stick with known or old projects? Most crypto investors are mainly drawn to projects that would provide them with immediate financial gains. Projects that are beneficial to them in the long run do not pick their interest. Their sole concern is the gains it brings, disregarding the fact that not all altcoins can withstand the test of time after going through one or two bearish markets.

The lesson here is to avoid investing in altcoins just because they are new and have a rising price because these are not good reasons to buy them. Investing in altcoin should be because you think it's worth gambling for, nothing more. 

[ndutndut]

As far as I'm concerned if you are new to the crypto space then it's best not to use these coins. The coins you mentioned are not trusted by new investors easily. Investing in crypto is risky If you don't choose the right project you will be exposed to a lot of risk. Do market research There are many good coins they are of good quality and trusted investing in them will be low risk.

Yes that's right. If you are new to the world of crypto, the wisest move is to avoid new coins because usually new coins like this will not last long, even if they are launched like good coins or something. However, the large number of new coins makes beginners trapped, causing them to lose money. The risk is too high for new coins for beginners, so for beginners, the safest move is to invest in CMC top 10 coins.

However, for those who are very familiar with the crypto world, this new coin could be the right step to get multiple profits, of course it must be based on serious research. And in general, to make a profit from new coins, never miss the moment, because if you miss the moment you usually won't make a loss.

[Belarge]

We need to have good knowledge about the project we want to invest in and some common sense to avoid any rug pull. If you look at any recent project that was rugpulled then you will see that those project had little information about the team, and their whitepaper is mostly copied and paraphrased. Some projects even don't have any working websites, but their tokens are already listed in dex. We need to keep in mind that a token's price appreciates when that price is derived from token utilities.

We need to be prepare to face whatever outcomes that the marker or our investment in the market triggers, it's really a top choice for everyone to master and enchance our ability of becoming more safer when dealing with the system. We know the market is filled with volatility and most of us can't stand the heavy losses that would be recorded in our portfolio when we make the wrong decisions. Getting the complete information regarding a project should be our first step because that's one of the basic techniques to keep winning in the system.

[GlacierBIT]

Sometimes shitcoins are well disguised as something really valuable, they lure people with advertising on social networks, offering favorable conditions. First of all, I look at the activity in messenger groups, if the activity is suspicious, the communication filled with bots is not productive, then I avoid such projects, sometimes it helps to avoid bad experiences.

[MFahad]

I know there are other ways we do fall victim which I think is ok if we share our experience as well but then, how can we bypass this?

1. Check their community: check if their community is active with real humans, not bots

2. How many followers they got

3. How often do they post on social media

4. How many exchanges got them listed? The two qualified exchanges I check, which I have mentioned frequently are Binance and Bitget. These two Cex usually list quality tokens which from my experience I have benefited from

all these things you mentioned are actually being used by shittokens to rugpull innocent investors. getting a lot of followers in social media and active community is very easy with little bit money nowadays. they pay some money do some marketing. build a community. get hundreds of thousands of followers then innocent people like you think that is a legit project and fall fo them.
the only way to avoid ruggpuls are to not invest in any project in early phase. only invest when you see the project is properly launched with a working product and listed in reputable exchanges.

[Hispo]

In my humble opinion, one of the best ways for anyone to see whether one can get rug pulled or not is getting a look at the economics of the coin itself. The concentration of the coins and the amounts of whales is something which can be easily verified using a Blockchain explorer, if the explorer show little massive concentration of coins in few hands, then there is less possible for a single entity to pull the rug under our feet.
Though, it is a good method to have a glance on a coin one would like to invest in, it is not a panacea against scams and fake projects. One needs to also take a look at the code of the project, and look for suspicious commands, anything which would help scammers to drain the liquidity of the coin against other coins which are more reputable.
For example, there was a project based on the Squid Game, a series which used to be on Netflix. The coin/token was specially programmed, so holders could not sell their invested after buying it, making the price to spike to very high levels, so scammers could be the only ones able to keep the valuable Binance coins of the liquidity. Those featured or lines of code which would not allow holders to sell their holding is the kind of thing I would first try to find when looking at code. I am not an expert can code, though, it takes experience on it to spot those traps.

[Miles2006]

Your list are quite right but just one wrong decision you can destroy the plan and process. This doesn't give full trust about any project cause I have seen few projects that went well from start and all of a sudden the project got crashed and investors where left with no option to accept the fact. Altcoin investment is just took risky to joke with so if you're not ready then don't invest. You can still decide to take those risk and make some profit so it depends on the kind of coins. You listed the step investors should take before buying any coin, I will prefer to buy a coin that has gain trust or rather has influence, secondly don't trust any coin easily with few testimonies we hear online cause those testimonies might be false, sometimes people who share those testimonies are part of the project. When dealing with altcoin we need to be smart

[rozak]

1. Check their community: check if their community is active with real humans, not bots

2. How many followers they got

We cannot use followers on a new project's social media account as a reference for whether the project is a scam or not. especially if the project creates an airdrop campaign, it can increase followers by tens of thousands in a short time.
If a community is built from an airdrop campaign, we can't be sure if it's a bot or not. because I'm sure every person who signs up for the airdrop might create more accounts to join.
it increases the community as well as followers. it can even increase trading volume after the token is launched on an exchange. but most of the community will release the coins and not hold them. if project marketing does not get support from a strong market. it will be very difficult for new projects to compete or even survive for long.

[el kaka22]

The best possible way to make something like that would be just realizing you are not going to end up making as much profit as you think you could and when others suggest there is a way to make more money than you could ever imagine, considering it a rug pull. That has saved me a lot, all those places that promised me 5000% return a year? I stayed away from them and without missing a beat, all of them turned out to be a scam.

Nobody and nothing in this world could guarantee you a 5000% return a year, and that should not be really a big deal, it is simply just staying away from them that could make some sense. I hope that we could move towards doing something much bigger, like sticking with some solid good investment in the end.

[batang_bitcoin]

Even with real people on their communities, no one has the idea if they're going to rugpull but only the developers of it. That's why even if with good conversations and active developers informing their communities about the updates and stuff, you'll never know if they're about to do it or not. That's why at most times, they're just surprising but right now it seems that they've become lesser because the success rate has increased for most projects and that's due to Bitcoin's upcoming halving that will result into a bull run.

[Bitstar_coin]

I guess part of the reason why RWA projects will be very popular soon and become investors' choices to avoid getting rugged by these shitcoins being created on an hourly basis.
If you can not identify which project is likely to rug pull better to stick to Galxe and sort out what project to interact with reason why is most likely all those projects on galxe have undergone some form of vesting to ensure the safety of the investors.
So many projects out there but only few are actually here to build long term.

[kaka_Shipai]

Just don't participate in them. I think thats the only way to avoid rugpull. If everyone does that, then they won't have enough people to scam and this trend of rugpulling will become dead.

[kentrolla]

I know these didn't work with two major projects FTX and LUNA which were rugpulled and people lost huge amount but what OP is trying to do is atleast listing out certain check we need to do in order to avoid falling for other such process, because if you randomly check any new projects which are getting launched everyday they will lacks the features or we can judge them by using the methods OP has mentioned but there are few projects like FTX and LUNA wherein everything will be 10 out of 10 but still they would cheat the users and this is something we cannot help as no other verification method can give you 100% results or accuracy but atleast we can avoid those scams which can identify.

Better to stick to established crypto coins.

[Adreman23]

I think we can avoid getting rug-pulled if we don't fall into FOMO. When a coin/token suddenly shoots up in price, most of us are enticed and speculate about significant profits, imagining that it won't go down. In such scenarios, what we should feel is fear of entering because there's a high possibility that the price will drop, no matter how legitimate and promising the project may seem.

We should focus on researching potential, legitimate, and genuine new projects. During the most unexciting phase of their project, such as when the coin/token has a very low value, lacks attention, and hasn't been listed on major exchanges yet, that's the ideal time to invest. Since the token's value is still low, we can acquire a significant amount even with a small investment. This way, we won't constantly worry about being rug-pulled because we entered at the lowest point.

[oktana]

I know there are other ways we do fall victim which I think is ok if we share our experience as well but then, how can we bypass this?

1. Check their community: check if their community is active with real humans, not bots

2. How many followers they got

3. How often do they post on social media

4. How many exchanges got them listed?

I agree with number one. Though sometimes some innocent groups get flooded with bots, if their telegram group isn’t flooded with bots, it’s a good sign.  For the second point, I don’t think it’s valid. Remember that you’re talking of rugpull which the team of such projects normally look for a way to convince people that they are worth it. Like the follower count you mention. The third point is just the same as the second. They will do anything to make you believe them, even if it means posting every single day. And lastly the fourth point is a good one because rugpull projects RARELY get listed.

[JeffBrad12]

just invest in something that youre sure know what the team are made up of, the thing is nowadays majority of people when investing more specifically in new project they always find dev that have history of creating successful project and at least getting backed by them, as well as having some good seed round funding investment from various angel investors and venture capital, that way we can be sure enough that the project won't rugpull out of the blue otherwise they would get themselves into legal problem.
investing in random project ICO for example, that create ICO by their own and never get funded by angel investors and venture capital instead pose significantly higher risk of rugpull.
thats why coin that launches through various exchange launchpad usually thrive after listing, if not, its selling like a hot cake at the initial stage.