Topic: How to avoid a scam project? (Read 2460 times)

Im not sure how to detect it 100%, i joined some project and read all their goals and roadmap. Still, there are we cant really predict what happened. Its just stopped or the some investor take and runaway from the project. Its also a matter of luck if people will embrace the new project.

Yes, although research does not guarantee that the project is a legit project, it can reduce the possibility that the project we support is a scam. However, it is very difficult to identify early if the project really intends to deceive its investors. Because there are so many cases that a project will become a scam when the project has already released a product. However, with gradual research, you may be able to determine whether a project is good or not, or even a scam. Research is key.

Yes, I agree with you about the fake promises they make to lure in as many investors as possible, however, some of them are pretty slick with their work and you can barely understand whether they are scamming people or are a genuine project if you are just looking at their website and other provided material because they are experts in copying others. So it requires more than that from a person to determine whether a project is genuine or not.

A lot of projects promote themselves using fake airdrops or giveaways just to get more and more users and investors but they never pay the participants at the end because all they needed was free promotion from their participants.

We have been seeing many scam schemes coming in the market every day but the thing that I notice more to catch all these scam schemes is the website. If a person can notice the website and analyze if it is fake then surely a scam project can be analyzed because those who create fake website always copy the unique project website exactly. You can also do some analysis from different social accounts in Telegram X account. But the most important thing is that it is better not to invest in new projects, if a new project is listed in a good exchange, it is better to invest or trade from there.

Yep. When you see a project is offering something too sweet to come true, we can suspect it as a scam project. Moreover if it is a new project that their tokens aren't listed in any exchanges. It will be more nonsense if they have no clear products and have no reputable projects as their partnerships. Also, it doesn't make sense at all to expect the price skyrocket from $1 to $100. This is simply a scam project, we are better to avoid joining the projects.

If we want to join a new project, we must ensure the capability and the track record of the teams. If we can't find clear information about the teams and they look unconvincingly, it is not a good sign to join the project. I myself will prefer to choose top projects if I experience the situation. Choose the top projects which have been trusted and proven for years.

Before you invest in any new project, you have to observe many things or factors and such as the popularity of the coin, the uses of the coin and the community support of the coin and if you investing in any coin without those factors then it becomes to the popular saying that "it is for the owner's risk". If you lost your funds in the process of investing in the altcoins then you don't have to blame anyone because you didn't make a concrete investigation before keying into the investment.

Make more research before you start your investment in altcoins before you came out and cry.

It is necessary to carefully check all the projects that appear on the market to check how they are useful because there are a lot of scams appear on the market.

Scam projects usually promise huge profits. That is the most common sign. For example a project with an initial bid price of $1 but they promote to you that they are an ambitious project that will hit $100. Next, you can do a little research on the website and the founder's profile. Usually they use website templates like other scam projects. Or using fake LinkedIn data. You can join some groups that discuss new projects. There's a lot of that on Telegram.

There are but you need to be in detail with them like looking for their website as if it's not professional, the team behind them aren't really real people. Something like that can be good early indicators already.

DYOR is a must at all times and you need to be careful with every project you are interested to invest because it's your hard earned money that you will use as capital there.

to anticipate the real scam project we need to do a thorough research about the project and a legitimate project will provide clear and transparent information about the development, users of funds and long-term goals read reviews and other regular users. legitimate projects have an active and responsive community, avoid projects that promise huge profits with low risk and always consider that security and caution are key in investing.
and always consider that security and caution are key in investing.

There are no definite indicators to determine whether a new project is a scam or not, what you have to do is do your own research. If you are looking for a new project with the aim of investing you really have to do careful research, but if you are looking for a new project with the aim of participating in an airdrop or bounty, you don't need to do excessive research.

One of the things we can do to avoid scam projects is to stay away from new projects. But I think before investing in new projects we need to check the projects and invest. Investing in altcoins is very easy. Money can be earned as well as we have to lose money due to some small mistakes.

Experience, they say is the best teacher but we should at the same time be smart, we don't need to be experienced through bad occurrences. It might be so bad for people who are not careful, and this could be worse to the point that they will lose huge money that will be difficult for them to recover from. This calls for us to do our part and leave the rest, even as no one will entirely know the best projects, we are just trying our luck and risking at the same time. Was Bitcoin, not termed a scam in the past? That is what is now the number one cryptocurrency in the world with so much success, and if we do not buy lies at times, we will not buy true.

Many had risked and have made their millions already which is why it is so difficult to entirely make a position on the advice about cryptocurrencies. But still, when a project is new, try to learn the viability of the project, the connections and the brains behind the project, if that's if possible. Also, look for the size of the community of their supporters, and from here, you can learn about their popularity. Despite all that, you might still wait till they have their launch, but if you must do a presale, you do not have to commit the whole money you have to it at once.

I think that committing it in fractions is the best approach before and after the launch of an exchange.

many of us has missed some genuine projects whose promises looking at it it's really do good to be true and as a result it's seems scary to partake in due to previous scam projects that came with similar fabulous promises and got it's investors scammed. It's so confusing that we don't know which to invest in that's why it's necessary we invest in money that we can afford to lose whether the project seems to be too good or not in their business model.

There are people who may not understand this and we should be ready to learn and not to relax for many weeks using a demi account to trade. The continuous use of demo account can agave effect on our lifestyle if we don't reduce the use of demo. The domo account sometimes makes us to relax and trade the market anyhow even when we are not supposed to take some trade due to risk management. In demo, we could leave a trade for weeks without checking because we known our money is not attcahed to it.

The best way to avoid scam project is to avoid new project believing that it will it will bring quick profit. Many people thinks the best way to make money in cryptocurrency is to invest in new projects , but new projects is just the easiest way to fall into scam projects.  Their gains in investing in top cryptocurrency,  these cryptocurrencies are very reliable to invest. Investing in new projects is very risky which their is a high possibility to lose money.

Due to origination of scam project most of the people neglected the beneficial projects too because they don't have sense that all projects are not scam most of them are beneficial but it is their fault that they don't investigate but choose some bad projects continuously.

People think that these new project will give them quick and huge profit as a result of which they loss their money by investing in wrong projects without touching its whitepaper and reading other materials regarding project. There is no doubt that scam project are originating but all projects are not scam many of them are more profitable with greater reward and less risk so try to make yourself master in getting knowledge about the differentiation of project.

op There are a lot of good projects coming up every now and then, if one or two bad projects come up, we must find a way to recognize them. For example, if bad projects or scam projects open their rules in the project or do not protect it, then you will understand that maybe it is a scam project. I think if there is any scam or fraud scheme then we can easily understand if it is a scam scheme if we check their website. When you realize that it is a scam scheme then you try to avoid this scheme so that you don't get hurt through it.

There is no doubt about this saying here no new project can be determined the best is to work on the sure existing one like Bitcoin to avoid regret many have fallen victim of failure if new project which accountable. Some projects may have all it take to stand but at the long run may not due to unforeseen circumstances and this unforseen is what we can't tell for now, because some projects has good plans, team, etc but still face this challenge that make the unfruitful. From my little experience and my challenge in new project I venture in. I can't advise beginners struggling to go into new project rather go into Bitcoin that will give you 80% of self confidence, security and value of your investment.

Most people go into buying new Altcoins due to the highest possibility of profit from the investment unlike top Altcoins whose profits are guaranteed within a longer time frame. New Altcoins are risky that is the reason we consider buying in little fractions and investing an amount of money we can be able to lose without affecting our cost of living.