How do I know if an altcoin is a scam? - page 10.

jaberwock

legendary

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

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?

When you aim 100x profits from a coin, you must be prepared to fail 99 times and sometimes even that is not enough. Don't get me wrong but it is like winning a bet at a casino with a 100x multiplier, you might hit every once in a while but you will lose more than you earn with the 100x.

The altcoin market is so crazy that you might be lucky to invest in projects like YFI where the value went ballistic or you might end up investing in a shit project with a fake team and stolen whitepaper. No matter how much research and analysis you have done, you can never guarantee success with any project even if they look like a diamond from outside. If a coin has good use cases then you can at least feel safe because the coin won't become dirt all of a sudden.

GelatikKembar

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Quote from: toast on June 10, 2021, 04:34:47 AM

Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

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?

You should familiarize first on how different project works. Look at the other project that is similar with the project, look for the uniqueness of the project and why they deserve a x100 in terms of price. It's easy to claim that they would have a 100x in the future but it's impossible to predict you should also look if they have working project and most of all their market volume.

Just a tip, most of the altcoin startups won't be too long so you need to review and study the project very well to avoid the scam projects.

Yes we need to do more research to find out how the project works,
besides that by doing research we also know whether the project is really promising or a scam project,
what is clear is that doing it is not easy, it takes more effort

toast

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

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?

You should familiarize first on how different project works. Look at the other project that is similar with the project, look for the uniqueness of the project and why they deserve a x100 in terms of price. It's easy to claim that they would have a 100x in the future but it's impossible to predict you should also look if they have working project and most of all their market volume.

Just a tip, most of the altcoin startups won't be too long so you need to review and study the project very well to avoid the scam projects.

ILuckyGuyI

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It is actually not easy to determine which altcoin is scam which is not. The best and most important thing is to do a really detailed research about a project. It can help you evaluate the project really a lot. Otherwise, I don't know any other way to be able to know that.

Kunotcoin

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

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?

Actually, it's very hard for us to determine a new project if it was legitimate or a scam because we don't know yet their positions or motives, it is all up in their minds that's why for me I consider it as a gamble to invest in the newly created projects although that some projects are guaranteed legit especially if they are doing some IEO campaigns in large crypto exchange like Binance other than that is considered to be uncertain.

Dread Pirate Roberts

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

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?

Altcoins are rare to scam. because you have the coins. maybe you mean the value drops until it has no value? well it depends of the community and developer. and the fact is that the every altcoin who didnt have community at all needed budget for their altcoin for become successful in market.
and its going the worst if you talk about ICO / token most of them are really had no value at all.

dhemasm

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

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?

It's little bit hard especially if dev was anonym if not the you can try to track their profile and look their experience or anything. Sometimes a project with a good vision and mission and other convincing factors can end up being a scam. My advice Maybe it's better to follow a project with more transparent development process and real person on their team.

huiji2011

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First of all, i think it is necessary to lower the request. Does not dream of buying coins with a hundred times profit. It is enough to invest in coin with x10 potential.
As for how to distinguish, this is very difficult, bitcoin is also people say it is scam now，of course，we all know this is wrong.
The easy investment strategy is, only buy new coins that Binance invest in, or with a high market value.

sumant

copper member

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Now at present time creating crypto projects is now way of scamming community. So many crypto coming on daily basis, you will be confused who is legit or scam. A scam project will not make a website that telling the usecase of the project. They will not give team members name. Their social media is not going to be active too much. They will give you good percentage of bonus in sell ,Because you will buy more and going to scam with good money will be easy for them.

wajik-tempe

sr. member

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It's quite easy if you already know the pattern of scam altcoin.
This is my list of the marks of scam coins.
1. They don't have any proper websites to present their projects.
2. The community is not active, or they don't have any social madia community at all.
3. Their team members don't have linked in accounts.
4. The rest, experience is the best way to learn, you will know the pattern of scam coin when you already scammed a lot Cheesy

pinoycash

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

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?

No one can predict if a token will reach or pump to 100x in its current price. Even if the presale LP is lock its not guarantee since there are sneaky devs that know how to rugpull even if the LP is locked. But having a doxxed dev is a postive thing,

Dr.Osh

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Buzz App - Spin wheel, farm rewards

very difficult to determine a coin just from its name alone. You need to do deep research for that. even coins like ETH, or BNB are still very difficult to predict. if you want to know, whether the coin really has great potential or not, look at the developments in the telegram. if they make something ahead, it could be that the coin is going up high in the future.

poodle63

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Leading Crypto Sports Betting & Casino Platform

Quote from: Kez1817 on June 09, 2021, 10:38:34 AM

To know if altcoin is scam, visit their website and study the white paper, know the team behind the project and other important details regarding the project. Also, don't invest if you hesitate about it. It is still better to invest those altcoin which already have a strong foundation in crypto market.

Even whitepaper could be bought, there's many people out there that are selling services to create whitepaper, i wonder how they could make whitepaper so fast but they
do exist, a legit project however always have believable whitepaper that makes 100% sense for people, or they could even simplify it to make people even the average joe
easy to understand the concept.
Just try to ask the team behind the project about some technical stuff, if they are legit they know what they are talking about.

MauJohn21

newbie

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Quote from: ?? on ??

Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

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?

Just research it and look into their community / join their discord server. That's how I found out about DIVI, it's great and I have no regrets

This is definitely not such a simple task, however an indicator that I think can help is the acceptance of the cryptocurrency by Kucoin. It is a special endorsement and to learn a little more about Divi's pro I want to leave you the following link: https://wiki.diviproject.org/

LimLims

sr. member

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1xbit.com

Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

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?

There is a huge difference between tokens and altcoins.
There is no chance of getting scammed when you buy or hold an altcoin, yes if you buy a token, then yes high chances is there that you might get into losses.
Moreover for a better clarity, coins that are listed in popular exchanges are considered to be scam free.
And now if your question arises, which altcoin to invest in exchange, then my advise is to go for the coin, which has big marketcap.
If any questions if you have more OP, then do ask me.

herurist

sr. member

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maybe one of the best things is that you look before you buy the coin and don't be in a hurry because you're greedy besides don't buy a new coin if you're not sure.
and if you want to buy maybe coins that can be trusted only because there are lots of shitcoins hanging around here.

CaptainCrapper

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

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?

Before investment any project need to read rules at fast then need to write wheetpaper rules then you have to take decision of investment.

Dewiana

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#SWGT PRE-SALE IS LIVE

Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

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 see scam alcoins, we check Domain's active period
because the scam is deceiving so that you can quickly get a short life and the domain used is not long

Live Chat that is never active, Has unreasonable promotions, and evidence of fake payments

bahagia93

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Quote from: Impostume on June 09, 2021, 10:42:29 AM

First of all i think you should not invest in a thing that you don't understand. Secondly they need to prove that the project can solve a real problem and you need to know the CEO of the project has done good things on other projects in which he has been involved. Thirdly try to read and read more about that project.

A very smart solution, because most people in the past directly ate the talk of the project developers so it was so easy to be deceived by the project developer, now so that it doesn't happen again, then the points you said I think need to be implemented on every new project we see.

DarkDays

legendary

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Quote from: UKprod on June 09, 2021, 07:32:11 AM

Some questions that you can ask:

Whether the entity is registered legally?
Whether the entity is regulated in its country and whether your own country would be able to enforce your rights in such country?
Whether there are real people behind the project and what are their credentials?

Further, some of the red flags include the following:

Promise of guaranteed return or high returns
Promise of regular income
Something that is too good to be true
They ask for your money before they actually start the project

Yes, there are the questions above that one should be mindful of when considering looking at a new alt coin, and additionally, looking at its trend on either dextools (ETH-based coin) or pancake swap to see what the activity of that coin is. From there you can see if anybody sold out (there are some alts where you can only buy not sell - this is obviously a scam), you can also check for the amount of each pooled pool and what the trading volume is. Altogether, these should point anybody in the right direction Wink

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