Topic: How can we avoid scams in blockchain? (Read 510 times)
If you want to wait and trade genuinely and faithfully, you need to check the project ICO and projector white paper at the latest and highest start of blockchain and see if the tokens and project are good and if project manager is trustworthy. And according to the ICO and the White Paper, you have to get your ideas on the token. If you can't, you can get help from the seniors. Thank you.
To avoid scam the main step that we can do is to look for information in the form of company details or Whitepaper (if ICO), and other things related to the investment product.
It would be great if it could help reduce scams in the blockchain world. But besides that here we must also be able to avoid the scam itself. Starting from oneself to choose a project that is good, it can be seen from the team and also the concept. Do not be tempted by attractive offers that do not make sense because they are usually signs of a scam. But if it is said that CheckDot can help avoid scams of course it will be very useful and helpful especially for people who are really having a hard time choosing a project to follow.
But do not just rely alone on CheckDot as it has no full assurance that it will really point out a scam project. Its better to make a depth in research or DYOR so you can analyze whether the project is legit enough or may fall into scam as it has no clear identities of the staff behind or its own whitepaper has set its goal that is too far to be achieved. Plus projects with too good to be true offers usually fall into scams in the end.
It would be great if it could help reduce scams in the blockchain world. But besides that here we must also be able to avoid the scam itself. Starting from oneself to choose a project that is good, it can be seen from the team and also the concept. Do not be tempted by attractive offers that do not make sense because they are usually signs of a scam. But if it is said that CheckDot can help avoid scams of course it will be very useful and helpful especially for people who are really having a hard time choosing a project to follow.
Trend carefully, do good research on projects before investing your cash make sure the project team are either audited or doxxed, anonymous team have high possibilities of exiting scam or pull rugged because they aren't known to the world, don't connect your wallet to any random website for any reasons, use CMC to find official links to a project before connecting your wallet
That is a nice and noble project. But the problem doesn't begin and end with checking and verifying projects. There also should be a project that regulates projects just like the American SEC(Security and Exchange Commission) works. I am for crypto regulation. It makes sense
If you think you have difficulty differentiating a coins that are scams, you should just invest in a verified platform like binance or such, they surely have went and analyze each of the project that they gonna endorse and surely most of them have promising long term investment.
By doing this alone you could avoid 100% of the scams and you just need to worry about volatility afterwards. There is also reason why most of the promising projects that binance or any big exchange endorsed are usually over funded at their initial stage because they just better and zero chance being scam. The only problem is so many people didn't know how to did a good research toward any coins in the market (new).
For people who have been very familiar with scam project and they know what to do next to know whether that's a scam project or not.
This is valid if you want to use a centralized exchange but for those who want to invest into stuff like NFT's or invest via decentralized exchanges like uniswap, or metaverse projects and lands, play to earn games. These are all brand new or at least quite new and this results with people not really knowing what they are doing when investing into those.By doing this alone you could avoid 100% of the scams and you just need to worry about volatility afterwards. There is also reason why most of the promising projects that binance or any big exchange endorsed are usually over funded at their initial stage because they just better and zero chance being scam. The only problem is so many people didn't know how to did a good research toward any coins in the market (new).
For people who have been very familiar with scam project and they know what to do next to know whether that's a scam project or not.
Binance can't help you out with that, sure they can with a small amount of the projects, really famous ones, but at the end you do not want to just invest into the very top, you also shouldn't invest into shitcoins neither, so you need to find something in the middle and sometimes that is not that easy.
There's no sure way to avoid it completely. However, usually the audit project can minimize the risk of fraud. Checkdot is one of those new projects that I know will soon solve the problem of fraud in projects that just went into sale.
It's impossible to avoid completely because after all there will always be scams,I think from year to year scam always haunts us,
What's clear is stay careful and wish us all luck
Never heard about CheckDot also I can't access their website so I can't say anything about it. But we can do our research about any project manually.
There are many mistakes that scammers do because they don't even write whitepaper they usually copy-paste from other projects, also scammers take photos of someone else from the internet and show them as their team. but you can catch them by searching those images in Google Images
There are many mistakes that scammers do because they don't even write whitepaper they usually copy-paste from other projects, also scammers take photos of someone else from the internet and show them as their team. but you can catch them by searching those images in Google Images
the risk of losing our assets and also the risk when we want to invest in projects that are not necessarily good are all in a circle of problems that often occur in crypto..
.especially for those who are new to crypto and are starting to be tempted by the profits of people who are experienced and do everything they can even though they don't see the next risk.therefore my advice is to start with small things, and be diligent to read the movement of the project to be followed, see the team in it and also how the project concept is..
.especially for those who are new to crypto and are starting to be tempted by the profits of people who are experienced and do everything they can even though they don't see the next risk.therefore my advice is to start with small things, and be diligent to read the movement of the project to be followed, see the team in it and also how the project concept is..
There's no sure way to avoid it completely. However, usually the audit project can minimize the risk of fraud. Checkdot is one of those new projects that I know will soon solve the problem of fraud in projects that just went into sale.
If you think you have difficulty differentiating a coins that are scams, you should just invest in a verified platform like binance or such, they surely have went and analyze each of the project that they gonna endorse and surely most of them have promising long term investment.
By doing this alone you could avoid 100% of the scams and you just need to worry about volatility afterwards. There is also reason why most of the promising projects that binance or any big exchange endorsed are usually over funded at their initial stage because they just better and zero chance being scam. The only problem is so many people didn't know how to did a good research toward any coins in the market (new).
For people who have been very familiar with scam project and they know what to do next to know whether that's a scam project or not.
By doing this alone you could avoid 100% of the scams and you just need to worry about volatility afterwards. There is also reason why most of the promising projects that binance or any big exchange endorsed are usually over funded at their initial stage because they just better and zero chance being scam. The only problem is so many people didn't know how to did a good research toward any coins in the market (new).
For people who have been very familiar with scam project and they know what to do next to know whether that's a scam project or not.
There are five important points that we can do to reduce the risk of being deceived by scammers. The five tips are like: first, be careful when clicking links can be phishing, second don't be tempted to double bitcoin,Third Be Careful in Reading Information on Social Media,Fourt remember Bitcoin has no physical form,and the fifth or final Do Not Provide Personal Information. Those are some things I can share hope it helps.
The act of not being scammed in crypto space is perhaps inevitable, either you buy a coin that you can not swap or you buy a coin that keeps dumping right from the beginning of the coin being traded or in any other way of being scammed, what is needed to do is just to do a very thorough research about the project you want to invest in, there is no special way, just DYOR and you will not be scam often
I think the steps that must be learned to avoid scam projects. The first step is to find the website because from the website we can get a lot of information we need such as whitepapers and others. Next we have to make sure that the smart contracts are theirs and not a clone of other altcoins. and look for other information through social media such as telegram, twitter, discord, medium and others to be able to ensure that they really make updates about the projects they are running.
You can not avoid scams completely. Even if you do a thorough background check and you check the whitepapers and other stuff, you can never be 100% sure. A project can look super legit for years and than start scamming. Nothing you can really do about it, I am afraid.
Hello everyone, I'm interested in the issue of checking projects and tokens.
There are many projects and each shows users big plans and ambitions. But as practice shows, not all projects keep their word and people often lose money by investing in the wrong project.
Recently I came across a project that was created to solve this problem - CheckDot. They have a nice strategy for checking and verifying projects, which seems to be useful.
What do you think about this problem and what solutions do you see?
There are many projects and each shows users big plans and ambitions. But as practice shows, not all projects keep their word and people often lose money by investing in the wrong project.
Recently I came across a project that was created to solve this problem - CheckDot. They have a nice strategy for checking and verifying projects, which seems to be useful.
What do you think about this problem and what solutions do you see?
I think the steps that must be learned to avoid scam projects. The first step is to find the website because from the website we can get a lot of information we need such as whitepapers and others. Next we have to make sure that the smart contracts are theirs and not a clone of other altcoins. and look for other information through social media such as telegram, twitter, discord, medium and others to be able to ensure that they really make updates about the projects they are running.
I think that avoiding scams is not easy, but it requires a lot of effort, we must be wise before investing. That is why we must go deeper during our study of a project in terms of its credibility and ways to succeed.
You can always rely on the site you shared but keep in mind that scammers always get loopholes as it is now happening there in CMC.
You can always rely on the site you shared but keep in mind that scammers always get loopholes as it is now happening there in CMC.
Some projects are created initially for the purpose of fraud, to collect money from gullible investors. But most projects become such in the process of development, when the team cannot solve a technical problem and refuses to continue working on the project. This is particularly due to the fact that sufficient funds were not raised to work on the project.
you should don't need to invest in that project that has no IDO, you should invest in that project that has IDO on a good platform and you should analyze the project first before investing in a brand-new project, if you can't do this then you need to invest that has a good community and good team and check their profile as well.
But we also can not generalize all project that has IDO are all great projects, there are some projects with IDO and after the public market sale on cex, the price going down under the IDO price which is the projects could be called a failed projects.
And also there some coins or tokens which just launch at dex at their first sales, and experienced a success, so it's all depends on the project itself not how they do the sales
you should don't need to invest in that project that has no IDO, you should invest in that project that has IDO on a good platform and you should analyze the project first before investing in a brand-new project, if you can't do this then you need to invest that has a good community and good team and check their profile as well.
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