Topic: How to avoid a scam project? - page 17. (Read 2485 times)
Maybe just don't invest? I do not mean the low level ones, I mean that there are so many high level ones that you could just invest those. Brand new stuff could turn out to be a scam and there are people who keep on investing into those and that just doesn't make any sense to me at all. I prefer to invest into stuff like bitcoin and then you know that you are not going to get scammed. It just doesn't make sense to keep being worried about the fact that it is going to cause a lot of trouble for you if you keep investing on those brand new stuff then eventually you will get scammed, even if you do not get scammed on each one, if you keep doing it, eventually you will do that and there is no point on risking something like that.
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.
The Best way to avoid scam project is to make sure that we do research and ask thorough questions before we invest in a particular project. It is true that there are different projects that are being launched everyday for the purpose of making money from the market sales. Same thing happens too when scammer launches project to scam investors of there funds when the project is finally launched.We need to know what we are doing before we invest in a particular project that we want to hold. There are people that had lost funds due to investing in the wrong project.
investing in a new project can never guarantee 100% safe, if you want to avoid project scams, invest in bitcoin or other altcoins such as ETH and BNB, this is much safer
I advise you to look at various reviews from experts in the crypto field. In my view it's a little difficult to see if the project is a scam or not. I don't understand how scammers work but what I see is they offer amazing numbers. They offer amazing returns that are earned in no time.
Correctly detecting the project is a scam or not is not an easy matter,even if we have done research I don't think it's a guarantee either,
maybe we need to consider a lot of good things on the results of our own research and advice from experts.
Nothing is guaranteed whether if the project is good or bad, that's for sure, it's all the same but the risks entailed on it is not.
Even if we did our own intensive research and asked a lot of experts in the field, it will be the same, and we'll end up on the same risks because the outcome is never a guarantee.
Now, why not invest in bitcoin and other top performing altcoin where the risks are somehow minimized rather than risking our funds into a project that is not known and too risky to invest into.
You should research the team development activists with check there all social media account. If you see unactive social account with no any ido planing then you can avoid the project. Otherwise a trustful project roadmap very promising and there team management activity also good. There are many new project so don’t invest with research first them.
check everything about the project, but even so, you still can't guarantee 100% that the project isn't a scam project, because it's very difficult to determine whether the project is a scam or not, my advice is don't use all your savings just for crypto projects
Nowadays, even scam projects are innovating. They develop their strategies so they would look trusted and legit that even after doing a series of research, lots of victims still fall for their trap. However, knowing everything about a project will still be a big help for us to notice their red flags. We should check the team behind them, the developers, the purpose of the project, and the reviews and insights of people about it. If you are doubtful of a certain project then don't risk high funds on it.
check everything about the project, but even so, you still can't guarantee 100% that the project isn't a scam project, because it's very difficult to determine whether the project is a scam or not, my advice is don't use all your savings just for crypto projects
I advise you to look at various reviews from experts in the crypto field. In my view it's a little difficult to see if the project is a scam or not. I don't understand how scammers work but what I see is they offer amazing numbers. They offer amazing returns that are earned in no time.
Correctly detecting the project is a scam or not is not an easy matter,even if we have done research I don't think it's a guarantee either,
maybe we need to consider a lot of good things on the results of our own research and advice from experts.
It is very hard to avoid a scam project nowadays cause there are so many of them.One has to be very careful and make a very good research before investing in any project.You can check the website, whitepaper and find out more about the team.What are the project goals and how they planned to achieve the goals and maintain the project in the long term run.
I advise you to look at various reviews from experts in the crypto field. In my view it's a little difficult to see if the project is a scam or not. I don't understand how scammers work but what I see is they offer amazing numbers. They offer amazing returns that are earned in no time.
Correctly detecting the project is a scam or not is not an easy matter,even if we have done research I don't think it's a guarantee either,
maybe we need to consider a lot of good things on the results of our own research and advice from experts.
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.
I think it's hard to identify new projects that will be a scam because everything looks fine in the initial launch but usually, the projects will start too late to provide updates like they have in plan. But that's not always the case because it's possible that the project ran into some issues before they did the update, making them delay it.For the better, maybe you don't need to approach new projects and stick to old ones that already have the potential to grow. And if you are confused and don't have any info, you can stick with bitcoin because bitcoin won't let you down.
You could have read my latter sentence if you're being intelligent on that stance. I'm also saying they are not an absolute example tbh. There could have been some exceptions of course.
Ok, no problem, this is just a misconception, but it would be better if you tell more specific characteristics, because the characteristics you mention are the characteristics that some well-known projects have as well.
You should have known Terra and FTX that wasn't focusing solely on on the price yet they scam their investors. Scammers tend to learn that trick and they are hideous now more than ever.
TBH, I can't consider projects like FTX or Luna to be scam projects, because here we are talking about something more specific like a planned scam. FTX or Luna can be described as an accident rather than a (planned) scam. [If you know the actual chronology of the 2 big projects].
I advise you to look at various reviews from experts in the crypto field. In my view it's a little difficult to see if the project is a scam or not. I don't understand how scammers work but what I see is they offer amazing numbers. They offer amazing returns that are earned in no time.
How to avoid? Don't invest in any new coins or tokens hehe. It's still not a 100% guarantee but it is the best way. Even scammers can come up with decent looking whitepapers and roadmaps. They can also fool many non-technical buyers just by showing certificate of audit from reputable third parties. We've also seen many times that they can start well and show potential then the rugpull or "we've been hack" comes.
some of the people above said there was some truth to it from a material standpoint. but the project is not always clear, the team is legitimate. the project partner is clear, it has not been determined whether a project will run smoothly. maybe what we hope for is the core price of a significant new coin, which will be able to last for how long. because a great project may not necessarily be able to survive in the long term
Check first on what are they trying to achieve, if it's nothing new then it was likely just to drain investors pocket, check if their team is legit, check if they're connecting with any real people, company or organizations, their white paper and lot more to check. I'm not saying this is always but the likeliness is weighing it that it could be one.
Some of the examples you mentioned are not absolute examples of how to identify a scam project, for example:- About what the project wants to achieve, there are currently a lot of L-1 projects that want to solve scalability problems, is that something new? of course not, for example the Aptos (APT) or Sui (SUI) projects.
- About the legit team, I want to ask you, is the Shiba Inu (SHIB) project a scam project? because until now the developer of this project is a Pseudonym. It's not, right?
The easiest way for me to identify a project is a scam or won't last long is by the way they drive the community. If a project only focuses on price, they will 100% scam.
You should have known Terra and FTX that wasn't focusing solely on on the price yet they scam their investors. Scammers tend to learn that trick and they are hideous now more than ever.
By assessing the essence of the whitepaper as it depicts the necessary information regarding the project’s main purpose. Thereby, you will be able to identify the red flags regarding its structure. To be specific, the word choice, grammar, and spelling. It is important, as some scam projects shares similar characteristics when it comes to their whitepaper. Some whitepapers are grammatically incorrect, have wrong spelling, and make improper use of apostrophes. It may seem small, but taking a risk is a crucial decision, so we must consider these things. You can’t easily trust a team that provides such information when they are not even able to effectively and properly communicate their project’s information.
Check first on what are they trying to achieve, if it's nothing new then it was likely just to drain investors pocket, check if their team is legit, check if they're connecting with any real people, company or organizations, their white paper and lot more to check. I'm not saying this is always but the likeliness is weighing it that it could be one.
Some of the examples you mentioned are not absolute examples of how to identify a scam project, for example:
- About what the project wants to achieve, there are currently a lot of L-1 projects that want to solve scalability problems, is that something new? of course not, for example the Aptos (APT) or Sui (SUI) projects.
- About the legit team, I want to ask you, is the Shiba Inu (SHIB) project a scam project? because until now the developer of this project is a Pseudonym. It's not, right?
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.
The easiest way for me to identify a project is a scam or won't last long is by the way they drive the community. If a project only focuses on price, they will 100% scam. I've seen a lot of projects like this, so my opinion is based on my observations of various degen projects.
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.
The best strategy is to know the team, we need to known who are the team member that build the project, next is the way how they build that project as investors we need transparency and update about how they develope the projects, the concept and what kind of project it is, is it new or is it something like has the same project with the same concept, there are a lot of ways to know scam projects but scammers are also smart they also make a way to make a fake project become realistic so we still need to be careful.
1. Always check the team behind a project. Legitimacy. Proof of identification. Work Background.
If they are trying to be anonymous, then it's up to you if you are willing to take the risks.
2. Whitepaper and Roadmap. They sometimes make their mistakes in this section and if you are a person who likes reading all the details you can pinpoint the mistakes that will make you doubt their project.
3. Promises that are so good to be true. I don't like this kind of invitations, they usually end up a scam. About 90 percent in my experience. Now, I try to take advantage of them by pulling out if I see profits. High risk but could be profitable if done correctly.
If they are trying to be anonymous, then it's up to you if you are willing to take the risks.
2. Whitepaper and Roadmap. They sometimes make their mistakes in this section and if you are a person who likes reading all the details you can pinpoint the mistakes that will make you doubt their project.
3. Promises that are so good to be true. I don't like this kind of invitations, they usually end up a scam. About 90 percent in my experience. Now, I try to take advantage of them by pulling out if I see profits. High risk but could be profitable if done correctly.
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