Topic: How do I know if an altcoin is a scam? (Read 2341 times)
The answer to your question is in research. You have to do a thorough research because scammers are getting smarter everyday, so you have to also be smart too. If it's too good to be true, it most likely isn't true.
you should research first before investing, there is no guarantee a project offers something bigger, check all platforms and their long term project plans then you can decide.
Research is key before any investment and it can give us insight if a coin is legit or a scam. The first step for me is always to check how the coin performed in the past. Was there active trading in the last 100 days? And if yes, how much trading was done. Looking at the past teasing volume can already tell us if there was some kind of price manipulation.
Checking whitepaper as well as team member details, all are good idea to analysis about a new project but no one will guarantee that, that project wont be turn into scam! Actually its hard. Cause those project hire people for good reviews on telegram, their website and even post positive on bitcointalk announcement Section! Thats hard to find out. Even there is some project who come in market for scam, no matter how succesful they are with their token sale and development
If they said about returning you 100x something as you told, then you must be stay away from them. Reading whitepaper, their plan and roadmap, their community all those things Should be checked carefully before investment any amount. Although following such steps, still noboday can't guarantee that project was pure cause sometime project works good, gain lots of fame and them they run out with investors fund for unknown reason! So its complex and depends on luck i think
Study study and study again. First of all, I advise you to study scams, there is a whole thread on the forum for this.
All scams are in one way or another similar to each other, because these are scams and their task is to deceive you, at the same time your task is to identify similar criteria and, in the future, easily identify the obvious features of scam projects.
But for all this, you first need to study the enemy.
Hello, I'm new here and I wanted to ask something I've been confused about for a few days.
I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.
I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?
To find out if the project is a scam or not, you can look back which makes you doubt in what way, some of the projects I've worked on, and also some of the altcoins I've invested in, I always see that the project manager is an experienced person of course risk - the risk of scam will be minimized, although we cannot predict with certainty what will happen in the future, try to invest in blockchain that has been recognized and there are no allegations of fraud. I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.
I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?
If they said about returning you 100x something as you told, then you must be stay away from them. Reading whitepaper, their plan and roadmap, their community all those things Should be checked carefully before investment any amount. Although following such steps, still noboday can't guarantee that project was pure cause sometime project works good, gain lots of fame and them they run out with investors fund for unknown reason! So its complex and depends on luck i think
Based on the team, the funding partners, the investors, the core behind the project. More such parameters contribute to the project. However even after analysing these many things we can see potential projects ending up as scams. This is ridiculous, and in some projects there'll be break in between.
The lack of development make the project go worse and finally after years once again it gets on track. Those weren't really scams, but lack of development or funding leads to some negative results on the market.
The lack of development make the project go worse and finally after years once again it gets on track. Those weren't really scams, but lack of development or funding leads to some negative results on the market.
Then i dont think called it a scam is a wise thing, i mean its will make crypto space look really bad.
IMO just called it as a failed project is better than scam, we see many failed projects on real life too, isnt it?
Hello, I'm new here and I wanted to ask something I've been confused about for a few days.
I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.
I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?
Few ways to stop losing money? Stop looking for x100 token cause you only end up been fooled by these scammers that pose to be legot devs, to identify a scam project is not that easy like it use to be before since scammers know people no longer fall for their tricks, now they create projects and try to gain the trust of the investors while still staying anonymous, once they gain it they will rug pull when there's enough money in the liquidity, afford new projects for now, buy top coins and stay safe. I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.
I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?
if I personally have some criteria to say if an altcoin is a scam, that is :
1. the project does not go according to the roadmap and whitepaper
2. the team is inactive and not transparent
3. the project does not have any progress
1. the project does not go according to the roadmap and whitepaper
2. the team is inactive and not transparent
3. the project does not have any progress
First of all, newbie shouldn’t join with new altcoins token ico.
And newbies should also know that most of the ICOs today are not that good anymore. Many of them are outright scams, although there's still a place for them but it's known by the community that most of them right now are scam.Cause its quite impossible for them to find out good project with first try. Scammer are very smart to fruad with people. So first notice on those altcoins who were get scammed. Then try to Find out Their ways and reason and try to learn something from those. Then you’ll automatically know if the altcoin is going to scam or not
It's quite hard, to be honest, but there's a way to know it if you're always that type of person who seeks that information just as the goal of the project and how they're marketing it. If there's a sign that the source and its goal doesn't really look viable and sustainable, you can have that idea what it is.
First of all, newbie shouldn’t join with new altcoins token ico. Cause its quite impossible for them to find out good project with first try. Scammer are very smart to fruad with people. So first notice on those altcoins who were get scammed. Then try to Find out Their ways and reason and try to learn something from those. Then you’ll automatically know if the altcoin is going to scam or not
it's very easy, just see how active the team is on social media and how they respond. usually the scam team always limits every member's conversation in the group and they seem to set us up not to talk about their coins. this is clearly avoided and is really a scam and should be thrown in the trash.
Only the study of the project and the search for holes in it can give at least some result.
Scammers have now become very smart and sometimes even write their own white paper so that it would not be possible to catch them for plagiarism, however, this does not mean that they are not mistaken in other places.
Scammers have now become very smart and sometimes even write their own white paper so that it would not be possible to catch them for plagiarism, however, this does not mean that they are not mistaken in other places.
Research is key before any investment and it can give us insight if a coin is legit or a scam. The first step for me is always to check how the coin performed in the past. Was there active trading in the last 100 days? And if yes, how much trading was done. Looking at the past teasing volume can already tell us if there was some kind of price manipulation.
You can view recorded volume of each coin traded in a given period but only know the general accumulated volume and not detailed information from the charts on the exchange, it is not valid as an analysis because too much manipulation for new coins already listed on the bad reputation of the exchange, you must ensure that the coin is active trading real volume without volume manipulation.
I really don’t recommend buying some altcoins, buying Bitcoin, Bitcoin, Ethereum, a good life, a good sleep, and a good study, okay?
For now it is hard to detect scam token at early stage because the dev are looking good and honest. It sounds good to know that the dev is so concern to investors. Unfortunately after they will list the token in uniswap or wherever some tokens turn into garbage because the dev left the project. So sad to participate this kind of scheme. I participated recently in this unfortunate one. Now I am aware the new strategy of scammer.
Hello, I'm new here and I wanted to ask something I've been confused about for a few days.
I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.
I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?
I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.
I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?
It might be difficult to identify scam projects. Some projects are true projects but no enough funds to continue development then exit the project. Some project has fully funded to start the project and listing on good exchange but at the end is a scam in various pictures. In order to avoid scams, should observe project development progression for a specific period. Check project team, direction and roadmap. Those requirements are passed then try to invest with minimal funds for risk mitigation.
a project team members also giving you hope and normally they'll try to prove their project as most demanding and best one to you. Thats the commom way to grap assets from investor by trapping a! you are new in crypto, so you need to spend some more time to catch out between real and fake one! Till that, you should only investment with coins with top ranks! there's no chance to get fruad
To correct that, you need to spend more time in order to learn more deeper about this business that you are working,
there are many newcomers who lose their money investing with scam project due to laziness, they didn't review and
quickly put their investment to project, ended up losing a lot.
a project team members also giving you hope and normally they'll try to prove their project as most demanding and best one to you. Thats the commom way to grap assets from investor by trapping a! you are new in crypto, so you need to spend some more time to catch out between real and fake one! Till that, you should only investment with coins with top ranks! there's no chance to get fruad
If they said about returning you 100x something as you told, then you must be stay away from them. Reading whitepaper, their plan and roadmap, their community all those things Should be checked carefully before investment any amount. Although following such steps, still noboday can't guarantee that project was pure cause sometime project works good, gain lots of fame and them they run out with investors fund for unknown reason! So its complex and depends on luck i think
those are the words of the coin sales meme these days.I saw it on social media and telegram groups selling their meme tokens for big short payback deals.
this really doesn't make sense. because everyone will praise their new project. but not for those who know the ill intentions of their meme token offering.
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