Topic: How to know if a new altcoin is a promising one or only a scam? (Read 521 times)
Joining Airdrops is a simple way to obtain new altcoins with an investment of time. However with an investment of your own capital, I would make sure that you believe in the project beyond a doubt, investigate the team members behind the idea, see how much capital they are already working with, therefore valuing the token or coin itself already.
November 07, 2017, 09:41:42 AM
It's really hard to say. You see, some scam ICOs nowadays hire writers and developers to make their project appear legit. They even make their white paper appealing and convincing that makes it hard to know if they are promoting a fake project or not.
So usually the best thing one can do when it comes to this, or when it comes to checking if an ICO is a scam or not, is not to focus mainly on the white paper, but focus more on their team, especially the founders and developers. If the project is transparent, they will not hide any information about their management to anyone interested to know it.
So usually the best thing one can do when it comes to this, or when it comes to checking if an ICO is a scam or not, is not to focus mainly on the white paper, but focus more on their team, especially the founders and developers. If the project is transparent, they will not hide any information about their management to anyone interested to know it.
November 07, 2017, 08:42:23 AM
I suppose its pretty much luck. I try to read experienced investor/users around here. Then I read devs linkedin profiles. Investigation is enough for it to understand if its scam or not. Whitepaper is also good place to look.
November 07, 2017, 08:36:11 AM
before choosing altcoin, you should look at their threads, learn how their ico runs, and what you need to see is their white paper, there you can conclude your own decision about what coin they market
November 07, 2017, 08:34:38 AM
There's a lot of new coin or token coming almost everyday and i experienced that some of them are having no value until now. So I'm asking now for me to determine next time the good one so that my exerted efforts to join them will not be wasted. Thank you. Hehehe
The answer to your question is quite easy: read, research and investigate. Don't invest in projects you don't know or barely understand. New coins are launching everyday/week now, and at times it might be difficult to conclude whether its worth investing in or is probably just another scam. However, reading, researching and investigating might eliminate all these challenges since you will be able to conclude on your own whether the project is invest worthy or not. November 07, 2017, 08:27:17 AM
First identify if the Token is a Security or Utility. If it's a Security, then there are higher chances that the ICO will be scam. Read the Whitepaper to see if they can deliver with their Blockchain application (if it will be within the Blockchain), check the ICO team's background and Founder's and check if there is a legal entity behind the ICO
November 07, 2017, 08:26:14 AM
It involves some deep research into the project and looking up on the teams involved.
Also, check the website, read the whitepaper, make contact to the team members via their social platforms.
Most importantly, projects with working products are more real than projects that give fantasy promises.
Also, check the website, read the whitepaper, make contact to the team members via their social platforms.
Most importantly, projects with working products are more real than projects that give fantasy promises.
November 07, 2017, 08:15:38 AM
There's a lot of new coin or token coming almost everyday and i experienced that some of them are having no value until now. So I'm asking now for me to determine next time the good one so that my exerted efforts to join them will not be wasted. Thank you. Hehehe
Its just about doing your due diligence and looking at it through the lens of how institutional investors review traditional startups. Solving a problem? Is it a solution? Niche? Good team? Good advisors? product? sweat equity? own equity? bootstrapping? etc. Doing this will allow you to cut out 95% of the shit. From then on you just need to see what the ICO's (post crowdsale) burn rate will be and if the founders are competent.
November 07, 2017, 05:41:36 AM
You look at the project if it is a solid one. You look at the white paper, the team, their community and their social media campaigns. But personally what I am looking for every time is if the coin has a real value. Can it be useful somewhere or it is just a way for the company to raise money?
You can try bounty campaigns in the beginning and then buy some coins.
Try this project it is for free: https://www.crowdholding.com/project/68/task/286/24-hour-task-ico-review
Really liking its project!!
You can try bounty campaigns in the beginning and then buy some coins.
Try this project it is for free: https://www.crowdholding.com/project/68/task/286/24-hour-task-ico-review
Really liking its project!!
November 07, 2017, 05:35:55 AM
You do not have to do anything to understand if it is promising or not. You cannot understand completely but look at the fund raised, it gives idea.
That's true one cannot simply understand if the ICO is going to be successful or not, but I think what OP is more concerned about is if the ICO is scam ico or a real project. And as said by many people before me, you can get basic idea of whether it's an scam ico or not but reading their ANN page here and their website. 
November 07, 2017, 05:29:13 AM
Initail step check the website and team and their profile atleast linkedin and other professional network and search about token progress use coin market cap for market cap . these steps will give some basic understanding about coin and also research about the solution provided by coin and existing competitor for that solution . So that you will find the potentiality of the coin for long term or short term or scam. Its just basic steps.
November 07, 2017, 05:19:14 AM
for ICO you have to be vary careful and research well for your own about their project , about their management and developer team, what the projects offer and check their road map before investing,and also check their white papper, this will help you to understand that any IOC will good or will it be scam.I think investing in ICO is high risk high return, some ICO may be scam.
November 07, 2017, 05:05:41 AM
I would put it straight. You've got to think and analyze before making any decision in your life including the one for buying an altcoin or not. There are websites that publish pretty deep reports in case you are not experienced in that yet. All in all, it's not really a rocket science to learn about a team, see what advisors they have and what's their background, see if they have a product (or beta, or at least a comprehensive description of what they are creating and a clear roadmap), and so on, so that's basically all in your hands and once you start exploring this field with due effort be sure you'll be learning quite fast.
November 07, 2017, 05:04:45 AM
Maybe you need to do your own research. There have been icos that are scams. Make sure you check the white paper. Check the people that are involved. Check their background in putting up an ico. That may not guarantee profit but at least you're sure you're not scammed.
November 07, 2017, 04:20:06 AM
i think there is no other coin then a few and i think that no other coin will ever make it to the top..
bitcoin, ethereum, monero, litecoin etc,.. the well known brands will now continue to evolve and i think the room for new coins to get a good market share is almost zero.. but this is just my opinion.. and i m no expert...
bitcoin, ethereum, monero, litecoin etc,.. the well known brands will now continue to evolve and i think the room for new coins to get a good market share is almost zero.. but this is just my opinion.. and i m no expert...
November 07, 2017, 04:17:58 AM
To alteast have an idea about the ICO of being it a scam or not have a look on the developer team and see whether they have a clean record, second you must see the roadmap of the development of the ICO and have a good look at the whitepaper.
You must have a look at this topic https://bitcointalksearch.org/topic/3-kinds-of-icos-protect-yourself-2243157
You must have a look at this topic https://bitcointalksearch.org/topic/3-kinds-of-icos-protect-yourself-2243157
November 07, 2017, 03:11:23 AM
You do not have to do anything to understand if it is promising or not. You cannot understand completely but look at the fund raised, it gives idea.
November 07, 2017, 03:06:40 AM
There's a lot of new coin or token coming almost everyday and i experienced that some of them are having no value until now. So I'm asking now for me to determine next time the good one so that my exerted efforts to join them will not be wasted. Thank you. Hehehe
Well you just have to do your own research. There is no foolproof way to see whether a project is promising or not because many times a project can hold up empty promises to investors that never get realised in the end.
However, see if the project is all hype or not. If it is mostly hype you shouldn't join them at all.
See whether their idea is actually applicable in real life scenarios.
November 07, 2017, 03:01:22 AM
It is just a matter of how gullible or skeptical you are. It might help as well when you're well educated. Usually, the victims are gullible, uneducated and desperate people. Education might be the only key to combat scams.
November 07, 2017, 02:30:53 AM
Do your research and ask around about it. Make sure they have a plan ready to be executed when their launch ends and make sure they have experience in the given field.
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