Topic: How to know if the project is fake? - page 9. (Read 6496 times)
When hunters encounter fake projects, it will only take time. But for investors, they will lose most of the money invested. I think before investing, you can join the relevant cryptocurrency groups to see some advice. If you want to check, you can check the website life, team, news from that project and see if it is correct or not.
So how do you indentify if the project is fake?
Like you said:
- fake address
Others:
- no tax/business number
- no cash flow projections
- no insurance
- unclear ownership
- standard privacy policy / terms of service
- requires you to send coin before withdrawing coin
(took 5 mins - will add more when I think of it)
Very helpful list. But I have to add one thing here. There are projects in which the team refuses to divulge their identity or other details (such as insurance or address). In such instances, it can be very hard to know whether the project is fake or not. In some sectors, anonymity is required. Examples are those dealing in porn or semi-legal sectors such as cannabis. And here, it is not practical for us to demand that the team members should reveal their identity.
So how do you indentify if the project is fake?
Like you said:
- fake address
Others:
- no tax/business number
- no cash flow projections
- no insurance
- unclear ownership
- standard privacy policy / terms of service
- requires you to send coin before withdrawing coin
(took 5 mins - will add more when I think of it)
Fake project is really frustrating if you're one of the victim especially for investors and bounty hunters.
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.
So how do you indentify if the project is fake?
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.
So how do you indentify if the project is fake?
to find out whether a project is a scam or not it is very difficult, seriously it is very difficult and maybe sometimes a project that we think is successful with everything that is fulfilled with a frills list in several markets. and even then is not a key scam or not a project is very much like that. and I think the point is we can only wait and see the progress of the project
In a simple way, You can see it with your own eyes. You can see that his teams were fake, poor website interface and has a plagiarism whitepaper. So, make sure that you read the whitepaper first before you choose some projects. Also, if you joined the bounties, most of them will lure you with a big rewards and profits.
Some things may be hidden ad undiscoverable, until after sometimes, the truth begin to unveil. Dipper search in to some projects is very important. Ask questions from the team if you do not understand.anything an do ensure that everything is put in.the right form.
In a simple way, You can see it with your own eyes. You can see that his teams were fake, poor website interface and has a plagiarism whitepaper. So, make sure that you read the whitepaper first before you choose some projects. Also, if you joined the bounties, most of them will lure you with a big rewards and profits.
very easy to detect if the project is fake.
1. they promise big profits but they don't have an openness to the public about how they work
2., they always say their project will do the best it can
3. they will say "soon" if the members ask where the exchange is going to be in the future
4. payments are always delayed
5. many reasons from managers, developers and others
6. disappear from public circulation and do not always update on forums, social media and others if they have earned money over their target.
These are some of the features or signs of a scam project in my opinion. you have to be careful
1. they promise big profits but they don't have an openness to the public about how they work
2., they always say their project will do the best it can
3. they will say "soon" if the members ask where the exchange is going to be in the future
4. payments are always delayed
5. many reasons from managers, developers and others
6. disappear from public circulation and do not always update on forums, social media and others if they have earned money over their target.
These are some of the features or signs of a scam project in my opinion. you have to be careful
usually I check the project team, if fake project, team photo takes from Google or creates team data, stealing data from Google, or fake project not have a information team project
how can you check the project team? do you use tools or website to ensure that? is this method effective to avoid fake projects? Fake project is really frustrating if you're one of the victim especially for investors and bounty hunters.
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.
So how do you indentify if the project is fake?
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.
So how do you indentify if the project is fake?
It's not that easy to detect fake projects. Actually, many victims of fraud occur not because of the clarity of their address, but they run away after the project goes well. Please check about the Bcnex project. Was it detected initially as a fake project? Of course not. However, they committed scams after the project went well. This is just one example, maybe many other examples that can be shared by friends.
usually I check the project team, if fake project, team photo takes from Google or creates team data, stealing data from Google, or fake project not have a information team project
In this market there are lots of fake projects available. And most of the new comers are atracted by this kind of projects. Cause most of the fake projects do some good promotions.the only thing you can do to avoid fake projects by gaining knowledge about this space. When you are investing always go for some points like if they have a live product or not, the team is real or not , the investigation and partners behind them, exchange listing or partner exchange. And try to find any information available in the internet that could also b useful. So you have to know about this things to avoid fake projects.
Fake projects are just too much and when taking a glance on CMC, one will see a lot of them, dead and forgotten. Nevertheless, although in most cases it might be hard identifying fake projects but one of the ways is when the team lies about certain information about them, and this could be when they steal other experts profiles on LinkedIn and so on. Another way is, when they have no workable use case, abandoned social media channels and listing on bad exchanges.
Fake projects are everywhere and getting to know them really needs close monitoring has some have difference means of getting through with their scamming ambition. First, watch the exchange they will list on and secondly watch the team and pictures including location also pay close attention regarding their announcements as some announces exchanges that doesn't know them or had deal with them at all . Close watch will actually help.
quite difficult to know which project is fake and which is original. most projects today look real and convincing. but my advice if you want to take part in the project do your own research and follow your heart in choosing a project. because sometimes the project is also unexpected.
Even though you Check the dev team, social media, whitepaper, address, phone number, there are ways to get around each one of them. If your instincts call out fake, just listen!
If you find yourself questioning "Is this project even real" then it's probably best to assume it's fake.
Save yourself a lot of research effort, and you'll probably be right more than 80% of the time.
Save yourself a lot of research effort, and you'll probably be right more than 80% of the time.
Success of project is dependant on whole lots of thing. I think one should check the socials of project and check up their review on review sites. However, this are not a guarantee that a project will succeed
I don't think there's a perfect way to know if a projects is fake. At best we can look for some anomaly with the project like the team social profile looking fake or newly created, their whitepaper, being plagiarised, their website, looking fake and maybe without security features etc. One really needs to be careful and avoidiinvesting in fake projects.
Nowadays, most of the people are not investing their hard-earned money into ICO's and IEO's, because being very matured in researching the project. In order to find a legit project we should always invest in it only after listing on the exchange, otherwise, we have to forget about those coins.
But most of the times the Coins offer extra rewards for investing in their IEO or ICO for the early investors and what if the coin goes to moon straight up after getting listed on the exchange, I know the chances of it happening now are less because of these scams going on in the market but still those early adapter rewards make up for the risk that we are taking by investing early in those projects. I prefer not to join the IEO or ICO but I trade in my time and join their bounty campaigns for getting those tokens and have somewhat safer side. Nowadays, most of the people are not investing their hard-earned money into ICO's and IEO's, because being very matured in researching the project. In order to find a legit project we should always invest in it only after listing on the exchange, otherwise, we have to forget about those coins.
There still plenty of investors trying their lock in IEO since it is going to be listed as soon as they projects turn successful, and from that on the developments of the projects will surely follow but it does not apply to moat of the projects it still depends on the team dedications and community supports.
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