There are a lot of signals that can make it obvious that a project might be a scam. Firstly, if the OP has a similar question, I can ask you, OP, since you're also the spokesperson for the new project here on the forum:
Are you conducting a survey on what you need to pay attention to in order to gain investor confidence, or are you interested in personal questions? For me, after spending a sufficient period on the forum, it became clear that if a beginner does not know how to identify fraud, he needs to invest in Bitcoin. This will protect your money as well as your nerves.
No matter how colorful the promises of new projects are, and even without obvious signs of a scam, a lot of new projects do not bring their plans to fruition simply because of a lack of funds.
Therefore, as a result, it can be said that it is impossible to accurately determine the future of new projects. Everything can change in a few days, and only Bitcoin can be trusted while understanding all the risks that may be encountered in the process.
Topic: How to avoid a scam project? - page 18. (Read 2362 times)
It's very confusing to choose a project legit or not but it's not impossible. You should research their white paper and website properly if they are promising and team has good reputation then it might be a legit project. If any project launch their product by copying others and generate fake community member then it might be scam so research deeply then avoid that projects which seems to be a scam.
If you want to 100% avoid a scam project, just stick with Bitcoin and don't care with anything else.
If you want to minimize the risk of investing in a scam project, you need to make sure the project is already old, not following the upcoming altcoins trend and it should be listed on popular centralized exchanges.
If you not follow one of requirements I mentioned above, you're gamble on altcoins and you have a chance to invest in a scam project.
If you want to minimize the risk of investing in a scam project, you need to make sure the project is already old, not following the upcoming altcoins trend and it should be listed on popular centralized exchanges.
If you not follow one of requirements I mentioned above, you're gamble on altcoins and you have a chance to invest in a scam project.
There are so many new projects launching every day and some of them can be good and some of them can be a scam[/colour] as well. How can we identify it well? Perhaps we should have more discussions about it so we all can learn from everyone's experience.
In every 100 new altcoin projects, almost 90 are scams, that is how bad altcoin projects have become since if inception, and for you to avoid scam projects the first rule is total avoidance of altcoin projects because even the most successful altcoin today can become scam tomorrow so it can not be trusted for long term investment. And if you must invest in any altcoin, it then means you will have to do tons of personal research, going deep into the investigation of the key features pf the project and trying to match them with another already existing project, and even at that, you must not rely on altcoin for long term investment in other to minimize your risk ratio since altcoin is best for short term gaol.
You can check their website. Compare with some projects that have committed fraud and fraud. Scam projects usually follow the same pattern. They design the website as attractive as possible, make a promotions (possibly using funds from previous scams) and they have incomplete expert profiles and do not have valid records on their information. I advise you to study in this forum the history of projects that have been scammed before.
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.
Scams really are a big problem in the crypto space. Probably because it is pretty simple and also pretty cheap to create another crypto project. You just fork some other already existing project and pay the minting fee and that is pretty much it. You don't even need a team for it. One guy that has watched a tutorial video or read a little can do it. Most of those projects are meme-coins (=shit-coins)
So my first advice would be to totally ignore meme-coins because there the chances for a scam are the highest because of the reasons i stated above.
If you are investing into a project, that really wants to solve a problem or is trying something new, then you should always do your research. Take a look at the team, check if they have a linkedin profile or something, read the whitepaper and the roadmap and look if it makes sense. Also check the tokenomics of a project.
I think there are many ways to avoid falling prey to scam projects, it's important to be careful and do your due diligence. First, research the project team and their previous work experience to determine if they are credible and able to deliver on their promises. Second, scrutinize the project whitepaper and its technical aspects, ensuring that the proposed solution is feasible and innovative. Third, investigate the project's community and social media presence to gauge its popularity and reputation. Fourth, beware of unrealistic promises of returns or aggressive marketing tactics.
Finally, seek the opinion of an expert, either a friend or anyone who is adept at learning. Well, By following these steps and maintaining a healthy skepticism, I think one can avoid scams and make sound investment decisions.
Finally, seek the opinion of an expert, either a friend or anyone who is adept at learning. Well, By following these steps and maintaining a healthy skepticism, I think one can avoid scams and make sound investment decisions.
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.
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.
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.
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