How to avoid a scam project? - page 9.

shinratensei_

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Quote from: timoshani on May 25, 2023, 05:03:32 PM

Well, if there is some experience in evaluating projects, then you can use it. Then the principle of DYOR is indisputable. But what if there is no experience? Here at least reason, at least do not reason – the risks of loss increase. What do you advise beginners in crypto?

I hardly understand your question but i get the gist of it.

however if you don't have any experience at all in cryptocurrency basically still a newbie and of course determining some good project will definitely become a hard task for you.

you can just simply rely on the fact that you can easily choose project based on which partnership they have, list all the good venture capital out there like mysten labs, etc and only follow the project they have invested.

we all have seen how good the project they invested are, usually gets listed almost immediately in good famous exchange and get massive value increase.

that's one way of knowing good project since you only follow, the task of doing review is on the venture capital teams.

timoshani

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https://imgur.com/1d0UcY0

Quote from: Quidat on May 23, 2023, 04:59:34 PM

Quote from: Nazmul012 on May 23, 2023, 04:31:02 PM

Its Very critical judge a brand new project. greatest roadmap, Promotion by influencers, announcing airdrop with reward can't be trusted.
Now bear is on the trand. So if you want to get yourself out of being scam, just avoid new project. Secondly avoid those old altcoins, which haven’t any potential. But if you are interested with new project then confirm that, they have decent community support. Running Idos, following roadmap and they let you Know their update in time

Just use your common sense.Period!

Avoiding scam projects should really be handled out by your own common sense but here's some basic things to be done.

1. Always DYOR
2. Take some DYOR
3. DYOR all the way

From whitepaper until to the team itself or the relevance or utility of the said project.You should really know its background but somewhat even knowing such stuffs
or situations or things cant really still assure 100% success rate. We do have lots of scam and shit projects in the market which they do eventually die instantly but coming back
on having a brand new name and the cycle continues. These fraudsters does really know that there are dumb investors or to those who do put up money would really be that
too fool on believing that a certain project is really good. This is why they would really be continuing on what they've been doing.

Well, if there is some experience in evaluating projects, then you can use it. Then the principle of DYOR is indisputable. But what if there is no experience? Here at least reason, at least do not reason – the risks of loss increase. What do you advise beginners in crypto?

ElmedoRator

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Usually, when a project comes up and you're looking to check it out, do thorough research on the project team and check their track record. Review additional white papers and technical aspects to determine project feasibility and innovation. Additionally, the project's community and social media presence are also good ways to gauge the project's reputation and gauge the level of support and engagement. Also, beware of unrealistic promises and aggressive marketing tactics, as scammers often use these strategies to attract gullible individuals. Finally, make the right decisions based on the information you have learned to decide whether to invest in this project.

Iadegbola34

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Consider the following steps to identify legitimate crypto initiatives and prevent potential scams:

1. Investigate the project team’s skills and trustworthiness.
2. Review the project's whitepaper to ensure a strong plan.
3. Evaluate the project's Social Media presence and community participation.
4. Look for recognized collaborations and advisors.
5. Be wary of red flags, such as unrealistic promises or lack of openness.

Participating in forums and learning from others’ experiences may provide significant insights.

davide72

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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.

The problem is not only scam projects but also all those very manipulated by whales, look for example ICP a valid project listed on Binance the first 2 months I met people who bought them even at 150 dollars each, today they are 5 dollars, many have lost almost all their initial investment

arufox

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Quote from: FahriZah on April 27, 2023, 01:33:35 PM

This Topic Is Very Important Topic And Really Every People’s Need To Know How To Avoid Scam Project And First Of All Need Ti Finding How To Selected Which Projects Are Scam And Which One Real Project Just Need To Use Own Brain And Need To Check And Cross Check Agin.

Indeed, everyone always wants to avoid fraudulent projects. However, avoiding fraudulent projects, especially new projects, is not easy. Moreover, day by day the fraudsters are increasingly sophisticated in presenting new projects to attract investors to invest so that their goal is to get money from investors. Therefore, before investing in a new project, we must be able to carry out an in-depth analysis and must be prepared for all risks.

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Quote from: erixter on May 24, 2023, 05:43:32 AM

Quote from: StreakW on May 24, 2023, 03:42:37 AM

Indeed, there are not a few projects that have a credible team behind them, but in the end the project is a fraud. But at least with a credible team that builds a project, it will gain trust in the eyes of investors. But we must realize that no matter how good a project is and have a credible team, there are definitely risks in investing in crypto currency.

Well, any business involves profit and loss, but the crypto currency market is a very risky market and the risk of loss is high here.If seen, sometimes a very good and big project is also scammed, As the example of Luna and FTT , but in the top and good coins of the market, such rates are very low. There are many projects that are realized at the very beginning that they have no future.

After our little hard work and research and information we can find good and best projects and protect ourselves from scam projects, because the fraud project team is always very capable, they take people to their side and deprive people of their capital.

Yeah, even top altcoins were dumped really hard. We can't predict the future of a new project because in this market its really volatile. If we want to avoid a scam project then its better to invest in Bitcoin rather than look for a new project to invest. I really hate when a project goes scam because the team abandon the project without any real effort.

Blitzboy

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Quote from: Quidat on May 23, 2023, 04:59:34 PM

Quote from: Nazmul012 on May 23, 2023, 04:31:02 PM

Its Very critical judge a brand new project. greatest roadmap, Promotion by influencers, announcing airdrop with reward can't be trusted.
Now bear is on the trand. So if you want to get yourself out of being scam, just avoid new project. Secondly avoid those old altcoins, which haven’t any potential. But if you are interested with new project then confirm that, they have decent community support. Running Idos, following roadmap and they let you Know their update in time

Just use your common sense.Period!

Avoiding scam projects should really be handled out by your own common sense but here's some basic things to be done.

1. Always DYOR
2. Take some DYOR
3. DYOR all the way

From whitepaper until to the team itself or the relevance or utility of the said project.You should really know its background but somewhat even knowing such stuffs
or situations or things cant really still assure 100% success rate. We do have lots of scam and shit projects in the market which they do eventually die instantly but coming back
on having a brand new name and the cycle continues. These fraudsters does really know that there are dumb investors or to those who do put up money would really be that
too fool on believing that a certain project is really good. This is why they would really be continuing on what they've been doing.

Totally with you on this! Conducting personal research is like prepping your rocket before a space launch. You wouldn't want to stake your mission (or, in our case, your hard-earned money) based on someone else's groundwork. Shying away from fresh projects might feel like an effective dodge from scams. But it's a bit like avoiding new tech gadgets just because they might not live up to the hype. Some fledgling projects could be the next 'Bitcoin', while others might just blast you off to 'Bankruptcy Planet'. The key lies in picking out the gems from the space junk.

It's the same deal with older altcoins. Some might be as out-of-date as a landline in a world of smartphones, while others might just be in stealth mode, ready to shoot out like a comet when you least expect it. Sure, community backing and consistent updates are like regular systems checks on your spacecraft. They're vital signs of a project's well-being. But always remember the space exploration mantra: trust, but verify. After all, not every shiny satellite is useful, and not...

capedbaldy

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Quote from: erixter on May 24, 2023, 05:43:32 AM

After our little hard work and research and information we can find good and best projects and protect ourselves from scam projects, because the fraud project team is always very capable, they take people to their side and deprive people of their capital.

We have to do regular research on new projects or weekly, in order to get quick information to avoid rugpull losses because new projects are very close to fraud even top coin projects are also not guaranteed for investment safety.

We have experience from Luna and FTT, so be careful choosing altcoins for your investment list because altcoins are very at high risk of loss because they will be greedy to sell millions of dollars from the team's coin allocation portion and revoke liquidity from dex.

erixter

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Quote from: StreakW on May 24, 2023, 03:42:37 AM

Indeed, there are not a few projects that have a credible team behind them, but in the end the project is a fraud. But at least with a credible team that builds a project, it will gain trust in the eyes of investors. But we must realize that no matter how good a project is and have a credible team, there are definitely risks in investing in crypto currency.

Well, any business involves profit and loss, but the crypto currency market is a very risky market and the risk of loss is high here.If seen, sometimes a very good and big project is also scammed, As the example of Luna and FTT , but in the top and good coins of the market, such rates are very low. There are many projects that are realized at the very beginning that they have no future.

After our little hard work and research and information we can find good and best projects and protect ourselves from scam projects, because the fraud project team is always very capable, they take people to their side and deprive people of their capital.

StreakW

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Quote from: loopes on May 03, 2023, 10:44:52 AM

Quote from: ?? on ??

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:
-snip-
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.-snip-

i agree with you, analyzing background's team aspect is one of most important things to do to avoid a scam project. but what do you think if you find credible tim inside the project, it seems good at initial phase of sales, but time by time the project goes to be a scam project. Do you remember Terra Luna? this is what i am talking about.. I means not every credible team inside a project will guarantee the legitimate of the project.

Indeed, there are not a few projects that have a credible team behind them, but in the end the project is a fraud. But at least with a credible team that builds a project, it will gain trust in the eyes of investors. But we must realize that no matter how good a project is and have a credible team, there are definitely risks in investing in crypto currency.

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Quote from: Nazmul012 on May 23, 2023, 04:31:02 PM

Its Very critical judge a brand new project. greatest roadmap, Promotion by influencers, announcing airdrop with reward can't be trusted.
Now bear is on the trand. So if you want to get yourself out of being scam, just avoid new project. Secondly avoid those old altcoins, which haven’t any potential. But if you are interested with new project then confirm that, they have decent community support. Running Idos, following roadmap and they let you Know their update in time

Just use your common sense.Period!

Avoiding scam projects should really be handled out by your own common sense but here's some basic things to be done.

1. Always DYOR
2. Take some DYOR
3. DYOR all the way

From whitepaper until to the team itself or the relevance or utility of the said project.You should really know its background but somewhat even knowing such stuffs
or situations or things cant really still assure 100% success rate. We do have lots of scam and shit projects in the market which they do eventually die instantly but coming back
on having a brand new name and the cycle continues. These fraudsters does really know that there are dumb investors or to those who do put up money would really be that
too fool on believing that a certain project is really good. This is why they would really be continuing on what they've been doing.

Nazmul012

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Its Very critical judge a brand new project. greatest roadmap, Promotion by influencers, announcing airdrop with reward can't be trusted.
Now bear is on the trand. So if you want to get yourself out of being scam, just avoid new project. Secondly avoid those old altcoins, which haven’t any potential. But if you are interested with new project then confirm that, they have decent community support. Running Idos, following roadmap and they let you Know their update in time

Lamkuthang

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Quote from: cute nmp on May 23, 2023, 09:30:17 AM

Not all scams can be avoided sometimes but one can reduce the frequency of been a victim by making a very good research about a project before making any investment.You can read about the project and the team ,know what the project is all about whether it is worth investing or not.

It makes sense when you think about it. it usually requires self-evaluation and many of the beautiful managers have posted a small notice on the campaign announcement page suggesting that each bounty hunter entrant double check himself before you join him. Yes. sometimes not all fraud can be avoided and in fact sometimes the project manager (Mananger Bounthy) has completed all stages of the campaign, it is their turn to be billed for project campaign participants. Their team closed their eyes and disappeared Grin

.

cute nmp

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Not all scams can be avoided sometimes but one can reduce the frequency of been a victim by making a very good research about a project before making any investment.You can read about the project and the team ,know what the project is all about whether it is worth investing or not.

riskarcher

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Quote from: barhavsky on May 23, 2023, 07:30:19 AM

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.

in my opinion the way we can avoid scam projects is not to invest in new projects and only invest in old projects that have products and progress, so it's safer for us to be able to avoid scam projects, but if you really want to invest in new coin and want to avoid scam, then it's better for you to wait until the new project has a product or is already listed on a major exchange, even though the risk for the project to become a scam still exists, but the risk is still smaller than projects that don't yet have a product and list on a major exchange.

Luna coin has a long existence but still many investors lose their money in old projects, Altcoin is a coin that has high profits but also high risk. I'm not at all surprised that many projects fail and in the end to be scam project, What i know safest option for invest is only Bitcoin, Even though profit of bitcoin is slowing than other coin, atleast we didn't think about our money on crypto market

Doan9269

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Quote from: BaeSuzy on May 16, 2023, 04:58:07 AM

The main criteria for me to avoid scam project is we need to increase our knowledge about "Crypto" and not ashamed to ask people who are smarter than me (expert or the people who has more experience than me). And if the project offers something that doesn't make sense it's definitely a scam.

There's much expected of us to take as necessary steps against falling their prey for any projects we are moving in for, even though everything is al about taking risk but we shouldn't as well see the risk and purposely go for it, we have to narrow our research on them, know the kind of developers they are, their mission, what they are offering, their duration of contract project, their financial situation, liquidity, market cap and other past records on successful delivery before we go for them.

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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.

in my opinion the way we can avoid scam projects is not to invest in new projects and only invest in old projects that have products and progress, so it's safer for us to be able to avoid scam projects, but if you really want to invest in new coin and want to avoid scam, then it's better for you to wait until the new project has a product or is already listed on a major exchange, even though the risk for the project to become a scam still exists, but the risk is still smaller than projects that don't yet have a product and list on a major exchange.

BaeSuzy

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The main criteria for me to avoid scam project is we need to increase our knowledge about "Crypto" and not ashamed to ask people who are smarter than me (expert or the people who has more experience than me). And if the project offers something that doesn't make sense it's definitely a scam.

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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.

Perhaps the recent successful projects are only 1% of the total launched. If we look at the Bounty Campaign list, one manager has dozens of projects he manages. I don't understand whether the manager does research on the project he manages, or the extent of his responsibility for the project he manages. We need to check it ourselves before promoting from those projects, so we don't waste time promoting something that isn't obvious. But this is not easy to do, because the project scam will be visible at the end of the campaign period.

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