I think, to identify scam projects in crypto. Their websites should be checked thoroughly. If their information is found to be similar to the projects that have been victims of scams, it should be understood that there is a high probability of scams in that project. Especially scam prone projects always offer high quality. And scammers use different tactics to attract people to those projects. But in my opinion it is very difficult for new entrants to crypto to understand the difference between legitimate project and scam project. Expert advice and reviews should be taken very seriously to identify and avoid scam projects.
A lot of these projects don't even have a real team. They just grab pictures on the internet and even names are the same. When you see something like that and the photos are odd, that's one way to know if they are real project or not. That's like the stage 1 of figuring out and there's more. If you will ever get into a better team, still, doubt them because not all looking professionals are also real. Always be in doubt when you are checking them. 
Topic: How to avoid a scam project? - page 3. (Read 2460 times)
Having money in project and losing it teaches you most why particular project was a scam. Invest (what you can afford to lose) in projects you think are good and lessons will show up themselves, you'll automatically be able to identify scam projects from first glance after few experiences.
I think, to identify scam projects in crypto. Their websites should be checked thoroughly. If their information is found to be similar to the projects that have been victims of scams, it should be understood that there is a high probability of scams in that project. Especially scam prone projects always offer high quality. And scammers use different tactics to attract people to those projects. But in my opinion it is very difficult for new entrants to crypto to understand the difference between legitimate project and scam project. Expert advice and reviews should be taken very seriously to identify and avoid scam projects.
Simple avoid them. That could be the only solution. New projects are for them who have deep knowledge about them. Although that type of investor also get scam even after that much qualifications and knowledge. So newbies are much helpless and one step ahead of being scam from those professionals. So buy old coins which growth percentage is good since launched. Go to cmc or coingecko and pick your choice among top20/top30. Memecoins like doge, shiba are better to skip
The very simple first step on how to avoid being screwed over the net is at least search a lil bit about the project.
Because in today's internet, you can practically search for anything. So you can already get a lot of feedbacks or reviews on a certain topic.
As to move forward, at least give yourself a lil bit of time to assess the project itself and not driven by the fud surrounding it.
A lot of people are jumping on the hype because they believe they will also have the same fate of earning profits as claimed by others.
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.
There are many things to consider. First of all, there must be a white paper that includes the roadmap of the projects, because if it is not there, it will be a red flag immediately or it will be difficult to trust. Second, always check their tokenomics so you can see how much total supply there is, and if there is demand, is it the token or not?
Then, also find out if there is a large community or if they are active on various social media platforms here in the online industry. And what is said should be realistic, not just promises.
Simple avoid them. That could be the only solution. New projects are for them who have deep knowledge about them. Although that type of investor also get scam even after that much qualifications and knowledge. So newbies are much helpless and one step ahead of being scam from those professionals. So buy old coins which growth percentage is good since launched. Go to cmc or coingecko and pick your choice among top20/top30. Memecoins like doge, shiba are better to skip
The very simple first step on how to avoid being screwed over the net is at least search a lil bit about the project.
Because in today's internet, you can practically search for anything. So you can already get a lot of feedbacks or reviews on a certain topic.
As to move forward, at least give yourself a lil bit of time to assess the project itself and not driven by the fud surrounding it.
A lot of people are jumping on the hype because they believe they will also have the same fate of earning profits as claimed by others.
For us to be save as an investor, there is need for us to keep doing consistent research so that we can know what project will be profitable for us.
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 doing your research will go a long way in guiding you to making the right decision on the project to look out for, if you do your assignment very well you will get information that will be of help to you. Their are some altcoin platforms also that if you post a particular project for verification you will get a bunch of insight that will get you reasonable and this board is also one of them. Simple avoid them. That could be the only solution. New projects are for them who have deep knowledge about them. Although that type of investor also get scam even after that much qualifications and knowledge. So newbies are much helpless and one step ahead of being scam from those professionals. So buy old coins which growth percentage is good since launched. Go to cmc or coingecko and pick your choice among top20/top30. Memecoins like doge, shiba are better to skip
The question is: how do you know that the project is a scam? Avoiding it is easy; what makes it difficult is what most people don't know: how to determine whether a project is indeed a scam. This is what we should teach people who don't know.
Because having the knowledge to know how to avoid it is a big factor in avoiding such scam projects and also a big help to every community that enters into crypto projects in this industry.
When I looked at some successful projects like ETH, BNB and some others I saw something common among them. All of them are active in development and they always announce all of it on their social media. Their team is active, their community is active and I saw all of them keep partnering with other big projects to grow their influence. If you find all these in a project then there is a high chance that it is a legit project.
truth, one way to find out whether the project is truly legit or not, is through determining the willingness of of the developers to develop the project, how active they are, how active their social media are and also the growth of userbase over the course of the month, etc. its really easy distinguishing the committed developers and those that just trying to grab money from this, one most distinguishing behavior is that the developers of scam project might not bother with the development that you see it stuck, why? because the developers themselves know that they won't spend a dime for development because after grabbing the money they'd just abandon the project and run.so developing would be waste for them, but this kind of thing is hard to distinguish for inexperienced investors so I think its better to stick with existing high market capitalization coin for newbies.
Simple avoid them. That could be the only solution. New projects are for them who have deep knowledge about them. Although that type of investor also get scam even after that much qualifications and knowledge. So newbies are much helpless and one step ahead of being scam from those professionals. So buy old coins which growth percentage is good since launched. Go to cmc or coingecko and pick your choice among top20/top30. Memecoins like doge, shiba are better to skip
The very simple first step on how to avoid being screwed over the net is at least search a lil bit about the project.
Because in today's internet, you can practically search for anything. So you can already get a lot of feedbacks or reviews on a certain topic.
As to move forward, at least give yourself a lil bit of time to assess the project itself and not driven by the fud surrounding it.
A lot of people are jumping on the hype because they believe they will also have the same fate of earning profits as claimed by others.
Simple avoid them. That could be the only solution. New projects are for them who have deep knowledge about them. Although that type of investor also get scam even after that much qualifications and knowledge. So newbies are much helpless and one step ahead of being scam from those professionals. So buy old coins which growth percentage is good since launched. Go to cmc or coingecko and pick your choice among top20/top30. Memecoins like doge, shiba are better to skip
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.
Just remember to listen to your gut feeling, and most importantly, always make sure you are following common sense. Those two things will keep you very safe. However, if you slacken the security, then you might find yourself in trouble.
Most scams are built very poorly and lazily. And this is the most important identifying mark of a scam project. A professional project will have put in a large amount of work, and therefore money, into every detail. Also, they will try to make sure that their business is completely transparent. The same goes for their team members. There are no anonymous team members. They should vouch for the project with their real identity, and they should be able to prove that they are who they say they are. A scammer usually would not waste money or time on a scam project.
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 the ways of identify a fake project is by checking for there transparency and how credible dey are and also checking there technical white paper. Also by checking there community engagement and how long the project will last. Some project are just a short term project that will allow you to invest your hard earn money on a boble. Which might explode withing the shortest period of time.
We can not escape from the scam projects we face daily in the system but we can reduced them only if we're able to understand ourselves and not rush into all projects we see in the market.
How to reduce the scam projects?There is no way to reduce the number of scam projects. We only can avoid to join the scam projects.
Sure, there will be always more and more scam projects because scammers won't stop to steal people's money. They do it since they know it still works to do, some newbies or beginners are still trying to participate in those projects. They think they will try their luck on the new projects, they don't know that many new projects are scams. But for people who are experienced enough in crypto investment, probably prefer to choose established projects//coins. Moreover, in the current situation when most crypto coins are cheap enough. They will optimize to fill their wallets with more trusted coins.
The real truth is that there’s no particular test to know if a project is scam. But you can pay attention to red flags when looking for what project to invest in (especially these new alts). One of which I’ve seen is when a project’s team members is not having any tangible or reputable background. Additionaly, check the use-case of the project, check what problem the token solves and how effectively it does that.
We can not escape from the scam projects we face daily in the system but we can reduced them only if we're able to understand ourselves and not rush into all projects we see in the market. There's no case to acknowledge a project to be a scam project because there are more to understand other than just observing my with our mere naked eyes. Project background does matter for an investor to be able to understand the entire process, examine the road map and the moderators behind such projects, and this is certainly the facts about these scam projects, they tend to offer huge promising and massive profits outcomes which is not pure false.
When I looked at some successful projects like ETH, BNB and some others I saw something common among them. All of them are active in development and they always announce all of it on their social media. Their team is active, their community is active and I saw all of them keep partnering with other big projects to grow their influence. If you find all these in a project then there is a high chance that it is a legit project.
I mean we at one point had our own experience/s of being scammed once or twice before we got understand that there obvious red flags we missed, which has now become our guide.
Research the Team: Check the backgrounds of the project's founders and development team. Genuine projects usually have transparent team information on their websites or social media profiles. Be cautious if key team members remain anonymous.
Red Flags: Watch out for common warning signs like promises of guaranteed returns, high-pressure tactics, or requests for large investments without proper documentation. If it sounds too good to be true, it probably is.
Community Engagement: Legitimate projects actively engage with their communities through social media channels, forums, and official communication channels. Look for projects with a strong, involved community and responsive development team.
Research the Team: Check the backgrounds of the project's founders and development team. Genuine projects usually have transparent team information on their websites or social media profiles. Be cautious if key team members remain anonymous.
Red Flags: Watch out for common warning signs like promises of guaranteed returns, high-pressure tactics, or requests for large investments without proper documentation. If it sounds too good to be true, it probably is.
Community Engagement: Legitimate projects actively engage with their communities through social media channels, forums, and official communication channels. Look for projects with a strong, involved community and responsive development team.
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.
Personally, I first read the threads in project posts from those I follow, then wait for comments from seniors who understand more about project analysis and usually there is a link sent for proof. Another attempt I made is use their own analysis and finally browse their website, their social media, whether they are updated or not, if not, it's just pretend. Oh yeah, Baunthy Manager is also one of them to see and identify the project good or no.
The cryptocurrency market is full of scam projects and if we don't plan well or scrutinize any investment, we can end up putting our money on short term projects that could crash and take away our money instead of making profits from such 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.
Personally, I first read the threads in project posts from those I follow, then wait for comments from seniors who understand more about project analysis and usually there is a link sent for proof. Another attempt I made is use their own analysis and finally browse their website, their social media, whether they are updated or not, if not, it's just pretend. Oh yeah, Baunthy Manager is also one of them to see and identify the project good or no.
We are constantly seeing new projects in the market, so it is difficult but not impossible to find a real project among so many new projects. Real projects can be found if the project is properly scrutinized. Before investing in a new project, the website must be observed for a few days, if the website of the project can be observed for a few days, then it will be very clear to a user what the project is like. Then we should try to know how much the people in charge of the projector are sharing their verified address or profile. How long is the domain of the project website or how much is the rating of the project website by monitoring these things well then we have to be sure that how much the project is real or how much is fake although it is not possible to get 100% information this way, still it is much better to know this way than not knowing anything.
because this is in the online world, crime or fraud can easily occur, but the things you mentioned also do not guarantee that you will be safe, but can reduce the risk.
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