Topic: How to avoid a scam project? - page 11. (Read 2485 times)

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.

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.

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.

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.

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 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.

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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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.

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.

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.