Topic: how to avoid fraudulent projects? - page 12. (Read 3075 times)
I agree with you. I think there are still many people who register the gift without doing research on the website of a project, whether the project is legit or scam. For me, I first look at the project website, and read the roadmap, the team, what features are there. but it is very difficult to avoid project scams
You can't avoid fraudulent projects, whatever you do, there are a new ways to scam you, we only do our best by research and investigate the project well.
Now, many companies already conduct IEOs and if you will participate in these IEOs and, most importantly, on the most top cryptocurrency exchanges, then you will not get into the scam companies, so you just need to forget about investing in companies that conduct ICOs and start investing only in IEOs on top exchanges.
Right now there are a lot of scam ICOs and if you look closely you can really say that they are legit but eventually it becomes a scam too. So it's hard to find the real legit and not. Therefore, we need stronger support and regulations here that will help us prevent these scams. Like KYC for founders and members of ICO campaigns, or 50% of the bounty alocation is escow to the trusted manager here in our forum.
This is also suggestions in another thread,
This is also suggestions in another thread,
Im not so sure KYC will solve anything. People need to stop being idiots. Just having a project isn't enough. That is entry-level. You need to rise above entry-level if you want to be something worthy of peoples time. It's not that difficult to tell a good project. Just follow good projects and ignore the rest. If you feel you have to figure out if a project is a scam then simply skip it. If the project has a working model then stick with it.
I think there is still a way to overcome the problem of scamers in this crypto room (but I'm not saying to eliminate it completely). . This might not have a big effect but at least it can reduce some of the fraud projects that exist in this industry. . like avoiding and not promoting suspicious projects repeatedly. .
I have always observed that many of them and even have high ratings but still support suspicious projects, especially participants (social media).
maybe this is one reason why many fraud projects are increasingly rampant, because someone always gives hope to them and makes someone trapped in it.
so what do you think?
I draw the conclusion above based on what I saw there.
I think one of the best way to dodge and reduce scammers is through staying knowledgeable. I think it is what we lack that's why we end up promoting some fraudulent projects which ends up influencing many to support the unknown scam project. We should always make sure that we read the white paper carefully and try to make a background check to the team to see their credibility before putting all your trust and time to them. I have always observed that many of them and even have high ratings but still support suspicious projects, especially participants (social media).
maybe this is one reason why many fraud projects are increasingly rampant, because someone always gives hope to them and makes someone trapped in it.
so what do you think?
I draw the conclusion above based on what I saw there.
it's about how smart research that we do, if we can research project well, then we wont get scammed by any project in the cryptocurrency
but sometimes people do illogical action when invest in the project, they hyped by not-makesense-ads
so they just FOMO invest with hope to get big reward. so keep your logic!
but sometimes people do illogical action when invest in the project, they hyped by not-makesense-ads
so they just FOMO invest with hope to get big reward. so keep your logic!
Right now there are a lot of scam ICOs and if you look closely you can really say that they are legit but eventually it becomes a scam too. So it's hard to find the real legit and not. Therefore, we need stronger support and regulations here that will help us prevent these scams. Like KYC for founders and members of ICO campaigns, or 50% of the bounty alocation is escow to trusted manager here in our forum.
This is also suggestions in another thread,
This is also suggestions in another thread,
my way to avoid fraudulent projects is to ascertain who is behind the project, such as the positive reputation of the team and the developer in managing the project beforehand, researching in more detail about the project or their products offered to the market and one more thing avoiding suspicious projects or teams that are not transparent.
Everything must be detailed when we invest in the initial project or during funding. because this is where it is so risky. don't just be tempted by the bonus given and also the concept is so good. at this time many things are considered about the investment. no need to be careless in making decisions because of course we do not want to be wrong in investing and ultimately also lose moneyyes, there are still many considerations before making a decision about investing in a project or making a short trade. because a big bonus is just a trick to attract market investment, it doesn't guarantee the success of a project or it can double your money. so, if you are already in this industry, you must always be able to protect yourself in all aspects to avoid the risk of loss
Completely avoid from scam projects fail. The only thing we can do is be more careful when choosing a project and more time to devote to safety.
my way to avoid fraudulent projects is to ascertain who is behind the project, such as the positive reputation of the team and the developer in managing the project beforehand, researching in more detail about the project or their products offered to the market and one more thing avoiding suspicious projects or teams that are not transparent.
Everything must be detailed when we invest in the initial project or during funding. because this is where it is so risky. don't just be tempted by the bonus given and also the concept is so good. at this time many things are considered about the investment. no need to be careless in making decisions because of course we do not want to be wrong in investing and ultimately also lose money We cannot fully exterminate fraudulent projects in this industry but we can do something about it just like conducting some research first before we engage with them. It is better to promote a project that has integrity because how you would suppose to get paid if a certain project you promoting is scam hence, the best option is that obtain some knowledge or data regards to the project and even check their roadmap if will they meet target goal.
This is very much right on point, it would be totally unrealistic to think that there is anything that can ever eliminate fraudulent practices completely no matter the form they come from, if the government ruling was so perfect in doing so, we would not have even been having people going to jail every day, and I think what can reduce it to an extent is when government comes up with a regulation that will be sending defaulters to jail anytime they are able to catch up with those cryptocurrency fraudsters, and still at that too, it would be very impossible for fraud to be completely eliminated, we just have to really make sure that most of those projects are not paid attention to, and the way we can do this is to keep researching as we have been doing.
In order to avoid fraudulent projects, one should know where these projects can be seen. For me, what I am doing is to look at the root where the projects can be found. If almost all of the projects in that platform is quite clear to be scam, then don't look at it and search for profitable projects on it. Bounty platforms and ICO rating sites are one of the platforms where we can find fraudulent projects, in this case, we shouldn't spend our time to be deceived visiting and trusting some of it.
my way to avoid fraudulent projects is to ascertain who is behind the project, such as the positive reputation of the team and the developer in managing the project beforehand, researching in more detail about the project or their products offered to the market and one more thing avoiding suspicious projects or teams that are not transparent.
we should be promoting a real project and there is the legality of the Project. But many people support it without reading the whole thing in the project.
They only look at the estimates that are so seductive and interested in promoting them. And finally, only 10% of the guess estimates that appear in the Exchange or project will scam.
They only look at the estimates that are so seductive and interested in promoting them. And finally, only 10% of the guess estimates that appear in the Exchange or project will scam.
It is hard to avoid fraudulent projects because the developers behind it might be good at deceiving people.
Developers are often hired people looking for work. Often these startups go for the cheap labor from third world countries and in a way they are also suffering and looking for some quick work. End of it the porject is what suffers being developed by low quality devs, full of bugs and so on. So at one point they decide to sell of their shares and exit. The advisors and team members also dump on the investors and there you have it. A nice "legal" exit scam.Quote
The only way to prevent yourself from investing money or time on fake projects is by researching about it. Although it might be tedious, it is something you need to do to avoid wasting your resources.
Researching wont help you if the point is to exit scam. Research can help in differenciating a blatant scam from a disguised one. The second one is very tough to segregate from a good project.
It is hard to avoid fraudulent projects because the developers behind it might be good at deceiving people. The only way to prevent yourself from investing money or time on fake projects is by researching about it. Although it might be tedious, it is something you need to do to avoid wasting your resources.
Yes, many bounty hunters still promote scam projects, but they promote them because they do not know that the ones being promoted are scam projects. One way to avoid scam projects is, at least the bounty hunters find out in advance such as the team, whitepaper, roadmap, vision and mission, and others before doing their job.
It isn't about the ratings, high or low rating could turn out to be scam,most times bounty hunters promote scam project not intentionally, this is because they do not have the patience to carry out research and at the end they also fall victim like investors who didn't do any research. In as much as there is no certainty, some research should be carried out before investing at least this will be helpful to some extent to avoid fraudulent project.
There are a number of ways to avoid such projects. One of them is that you should be able to find information frequently about the development of projects that are often created and can identify which ones are often successful and which ones often fail so that you can avoid projects that are scam or not.
Of course, the progress of the project must be made available to all investors via the social media outlets of the projects typically through the telegram group. Updating the community on the developments of the project will help them identify the potentials of the project and how to set goals for the coins they hold. 
There are a number of ways to avoid such projects. One of them is that you should be able to find information frequently about the development of projects that are often created and can identify which ones are often successful and which ones often fail so that you can avoid projects that are scam or not.
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