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?
if I personally do research first and never invest in a new altcoin, then the research I do to find out if altcoin is a scam or not is,
1. in recent months the project has progress
2. altcoin have quality and useful product for the future
3. the team is always active in providing information about the project
4. project according to roadmap and whitepaper
5. the team always keeps promises
Also, if you are in doubt, better not to invest funds on them yet. Let them do their part first, like, if they can implement the tasks laid out on their roadmap. Or let them develop first their platform to be up and running. Because most of the time, the team are only good in talks but you can't see them progress in terms of implementation of their roadmap. Even if the team doxxed their ownership, which is the trend these days, that's not an assurance that they will not rug pull. They know their contract or their project itself, and they can easily manipulate what needs to be done if in case they wanted to disappear after getting some money.