How to avoid a scam project? - page 11.

Newlifebtc

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Quote from: Rasa nanas on May 06, 2023, 06:47:23 AM

it is very difficult to answer this question because scam projects and failed projects are different.
but just try to play in the telegram group and try to ask about something you suspect or something you don't understand about the project. if you get an answer and you think it makes sense it means the chances of scam are getting smaller, but if you get an answer that doesn't make sense or even you don't get an answer and you have doubts you should leave the project.

I just want to clarify you that some of the things that is in telegram majority of them is owned by a scammer and if I happen to get any good response from telegram group don't depend on it thinking that it is a rightful information it is not it is a strategy scammers use in order to drive you close to be able to scam you so let us by I know the functions of scammer

Japinat

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Quote from: nesty on May 08, 2023, 01:05:49 AM

To avoid scam projects we need to understand and research first about the project. Check on the legitimacy of their website and social media channel for more information about the team who are responsible for the project. Check as well their experiences and credibility. Read and evaluate their white paper for their business plan and outline. Be conscious on the projects that promises unrealistic rate of returns that uses aggresive marketing strategies. Always trust your instincts.

Well said mate. These steps may sound easy but it's not that easy if you're the one working on it and these are so vital if you're looking forward to invest in the world of cryptocurrency or even in the other field, rigorous research and studies should be done first hand before putting your funds on it. Risks will be always there, what are we looking for is to minimize those risks because we're trying to find the profits and not the losses. But in these times where internet is available almost everywhere in the globe, it makes our job more easier because almost everything can be looked up on the web and it can also suggests top working coins that are profitable to invest in the past few years and in the upcoming future.

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Quote from: Mr.sprin on May 06, 2023, 12:08:34 PM

Nowadays it's getting harder to avoid scam projects because scam project makers are getting smarter and they even promise in their tricks to predict token prices when they are marketed at high prices and they make fake sales. They deliberately trick the market to seek profit from investors.

Truly some new projects usually devised many ways or means of deceiving new investors, they do so much perfect their fraudulent project such that unsuspecting investors will fall to their tricks thus it has become a difficult tasks to determine a real or fake project in the crypto market, I had once invested in a project in 2018 that look so real with high degree of prompt response to enquires of their new investors via plenty social medium like telegram, discord, Facebook etc after reaching their Soft Capitalization their developers went off without any trace till this moment.

nesty

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To avoid scam projects we need to understand and research first about the project. Check on the legitimacy of their website and social media channel for more information about the team who are responsible for the project. Check as well their experiences and credibility. Read and evaluate their white paper for their business plan and outline. Be conscious on the projects that promises unrealistic rate of returns that uses aggresive marketing strategies. Always trust your instincts.

Anonymous100

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Quote from: FireDAO CY on April 26, 2023, 02:55:32 AM

There are so many new projects launching everyday and some of them can be good and some of them can be a scam as well. How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.

Indeed, to know the level of success of a new project is very difficult to know. Because at the first launch, they will offer a private sale, and finally a public sale. The team keeps saying that their product is superior to the others. It aims to attract investors. But after the campaign period is over, they will say that it is difficult to find investors. In the end, the project will stop, and will not pay participant fees.

petulino

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avoiding from scam project is very sample if you are not greedy because most of the people are entering into scam project with thinking of big profit which cause loss. we should not believe on telegram shill post or twitter, YouTuber advertising any project. If we trade only in bug Cex like Binance and Coinbase then we should not worry about scam coin because they list only high marketcap project. You can also avoid from scam project if you have ability to research on project team, roadmap, White paper amd idea but it's not easy to check for new users

Road21Bitcoin

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There are so many ways and tools to avoid a scam project. For example, if you would like to invest in a memecoin or shitcoin, you can use this tool, https://tokensniffer.com/ to scan and monitor the contract address. Always check if the project has the following, Roadmap, Whitepapter, Team Members if they're doxxed, and Social Media accounts. Just do your own research and use your common sense when dealing with this kind of situation.

Mr.sprin

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Quote from: podluznyj on May 07, 2023, 12:05:23 PM

Quote from: arufox on May 06, 2023, 06:00:27 AM

It's not easy to avoid scam projects, especially for those who are beginners. However, at least one of the steps to avoid fraudulent projects is by DYOR. You must have an understanding of a project. Therefore, always seek information before deciding to invest in a new project. In particular, you should know the team behind it, read the whitepapers, and see the project's activity. Thus we can evaluate whether a crypto project is safe or not.

Yes, I agree with you, it’s almost impossible to completely avoid a scam project, since the scammers who create such projects do everything to make the project look promising and profitable, and to see everything and understand what kind of project it is, especially for a beginner, it’s impossible, you need to at least look at the team and see on special sites about the project and draw your own conclusions

it's true, as you said, for beginners it's difficult to get to know scam projects, even those who have been in the crypto world for a long time, it's also difficult to distinguish scam projects because the concept they make is very promising and they are active on social media announcing project developments as if they are serious about developing projects, so it's very difficult to distinguish projects current scam.

podluznyj

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Quote from: arufox on May 06, 2023, 06:00:27 AM

It's not easy to avoid scam projects, especially for those who are beginners. However, at least one of the steps to avoid fraudulent projects is by DYOR. You must have an understanding of a project. Therefore, always seek information before deciding to invest in a new project. In particular, you should know the team behind it, read the whitepapers, and see the project's activity. Thus we can evaluate whether a crypto project is safe or not.

Yes, I agree with you, it’s almost impossible to completely avoid a scam project, since the scammers who create such projects do everything to make the project look promising and profitable, and to see everything and understand what kind of project it is, especially for a beginner, it’s impossible, you need to at least look at the team and see on special sites about the project and draw your own conclusions

loopes

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Quote from: Rasa nanas on May 06, 2023, 06:47:23 AM

it is very difficult to answer this question because scam projects and failed projects are different.
but just try to play in the telegram group and try to ask about something you suspect or something you don't understand about the project. if you get an answer and you think it makes sense it means the chances of scam are getting smaller, but if you get an answer that doesn't make sense or even you don't get an answer and you have doubts you should leave the project.

This topic is literally discussing about the scam project that threaten everyone who involve to the crypto currency, especially for a newbie who is new to the world of crypto currency and do not have enough experience. Failed project is not a scam. they just can not reach their goals. Not reaching their goal is not a crime. But both those scam project and failed project will affect to lose your money.

|MINER|

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Quote from: FireDAO CY on April 26, 2023, 02:55:32 AM

Snip.

Now a days, most of the new projects coming up are scams. In other words, the amount will increase as the days go by. Now the situation is such that it is better for us to refrain from investing in new projects. But if someone wants to invest then I would say it is better to invest less in new projects rather than invest more in new projects. And it is really difficult to find out which project is a scam. The first thing to identify most of the scam projects is the APR they are offering, most of the scammer projects offer higher APR to attract people. Moreover, other things like where they got their license from and idea about their project team etc. can at least infer the authenticity of the project.

mdzahed134

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I think it’s really difficult to detect a SCAM project in the current market because many scams project around us, so if you're a beginner then it will quite difficult to avoid SCAM project. Whatever, first of all you should research about their use cases then team and partnership is also important, then roadmap, and tokonomics etc.

Mr.sprin

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Nowadays it's getting harder to avoid scam projects because scam project makers are getting smarter and they even promise in their tricks to predict token prices when they are marketed at high prices and they make fake sales. They deliberately trick the market to seek profit from investors.

Rasa nanas

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it is very difficult to answer this question because scam projects and failed projects are different.
but just try to play in the telegram group and try to ask about something you suspect or something you don't understand about the project. if you get an answer and you think it makes sense it means the chances of scam are getting smaller, but if you get an answer that doesn't make sense or even you don't get an answer and you have doubts you should leave the project.

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It's not easy to avoid scam projects, especially for those who are beginners. However, at least one of the steps to avoid fraudulent projects is by DYOR. You must have an understanding of a project. Therefore, always seek information before deciding to invest in a new project. In particular, you should know the team behind it, read the whitepapers, and see the project's activity. Thus we can evaluate whether a crypto project is safe or not.

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Quote from: FireDAO CY on April 26, 2023, 02:55:32 AM

There are so many new projects launching everyday and some of them can be good and some of them can be a scam as well. How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.

Constantly new projects are seen in the forum but many of them are scams and many projects are good. Among them, there are ways to identify the good projects and invest in the projects later on. To identify the scam projects, you should follow their website white paper and various social media to see that all are fake. But in the case of a good project, if you follow them, you will see that their website and various social media are original and there will be a lot of advanced. So you need to watch everything carefully and avoid scam schemes later. And follow all these things and work on good projects then you don't have to connect with scam projects in future.

woez

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Identifying a good crypto project or a scam can be a difficult task, as the crypto industry is constantly evolving and new projects are emerging every day. Here are some steps that can help you avoid fraudulent projects:

1. Do some research: Find out as much as you can about the crypto project you are interested in. Read the whitepaper, check the background of the development team, check the project roadmap, and see if they have the backing of a trusted investor. The more information you get, the better you can evaluate the crypto project.

2. Review tokenomics: Examine how crypto project tokens are distributed and what benefits these tokens provide. Make sure that the project has a reasonable business model and is not too profitable for the project founders, investors or other parties.

3. Evaluate the whitepaper: Read the whitepaper carefully and check if the project has innovative features and technologies. Make sure that the whitepaper doesn't just contain big promises and obscure technical terms, but provides a clear understanding of the project.

4. Review the credibility of the development team: Ensure that the development team has sufficient credibility and experience in the field of crypto or blockchain technology. Review the backgrounds and experiences of team members to ensure that they can develop and execute projects well.

5. Review project reputation: Find out if the project has a good or bad reputation in the crypto community. Ensure that the project is not associated with any fraudulent, illegal or other fraudulent activity.

Keeping yourself up-to-date on developments in the crypto industry is also very important. You can read the latest crypto news, follow the official social media accounts of the crypto project, and participate in discussions in crypto forums and communities. The more information you get, the easier you can identify a good crypto project or a scam.

Yes. Exactly., it is so striking that the steps presented/listed are generally good suggestions for identifying fraudulent projects in the cryptocurrency industry. Conducting thorough research, evaluating tokenomics and whitepapers, reviewing the credibility of the development team, and assessing a project's reputation are all important steps that can help investors make an informed decision and minimize the risk of falling victim to a scam.

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Take the time to research the project and the team behind it. Look for information about the project's goals, technology, and use cases. Check the team's background and experience, and make sure they have a solid track record in the industry.

BobK71

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Those who try to bring good projects in cryptocurrency are hampered by some scam projects. Crypto scammers targets always existed in the crypto market. They always try to create various scam strategy to empty the pockets of investors. But in recent times people's interest in crypto increasing, they are getting better knowledge about how they can protect their wealth and they are also taking necessary measures. Now scammers will not be able to make scam trap easily. But a positive point here is that projects that are relatively weak will not survive in the market. Early identification of a project is very difficult so one should not invest in a project until there is 100% certainty about it. I think it's worth investing in altcoins that are already in a good position.

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Quote from: usekevin on May 03, 2023, 09:28:18 AM

Now the most of the altcoin was short run one,the people who had invested for the longer period will get scammed at the last.This attitude change should be done by the most of the project.Because it also affect the new emerging good project,this affect the name of the entire altcoin market and demand in the market.This is one of the main reason for the traders to move towards the bitcoin from the altcoin market.Because we was assured that the bitcoin will sure for the next decades,the price of the bitcoin will move to the 100k in a decade and people need of bitcoin in the high level as compared to now.

most of it is of course according to what you said, new projects are only short-term oriented, looking for momentary profits and don't want to try to develop which is of course very difficult and requires large funds. faster completion and create new projects to find investors are in great demand at this time, easier to make profits.
actually it's better to invest in altcoins that are already on the market such as BNB, because the risk of loss is smaller, or as you say placing funds in bitcoin.

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