Topic: How would we know which cryptocurrency would be Scam? - page 7. (Read 3117 times)

the top 20 coins are worth investing . XRP should be excluded . it is a centralized coin . i used to buy some ripple , which made me lose some money .

We can not say an ICO is scam for first glance... But with the help of people feedback and observance some details are highlight and conclusion will be build.... That's how scam project we're detected on the process...

The best thing to do to check whether a crypto is a scam or not is through research. If you are not so sure of the crypto you are trying to invest just because you just heard it from friends that it is a good crypto, then think twice. If the team is that is behind it is unreachable or unresponsive too, then it can be a symptom of a scam crypto.

There is no way you can tell which one would be scam, what you have to do is avoid them earlier. Just go for cryptocurrencies with reputation and not all these new ones that are yet to achieve anything. If you want to invest in new coins just invest a small amount of money in case you happen to lose it, it wouldn’t be much.

If you just jump with huge amount, when you lose it you will regret your life for real. So mind what you’re going for or stick to Bitcoin alone and no other cryptocurrency.

Cryptocurrency scam always depend upon the team, project and the potential of the coin. You can check it in their site. You can read their white paper so you can have an additional information about what are their plan. You can assure if their coin is really legit or only a scam. Try research about NEO and Ethereum. It has a good potential coin that can help you earn a lot of money.

In order not to get caught in a network of scammers you need to be very careful and pay attention to some signs that will indicate to you the fake cryptocurrency. Better, to begin with, buy bitcoin in a small amount, besides the price of bitcoin is constantly growing, which will allow you to make good money.

Just google it bro, there shouldn't be a problem if you put the right keywords for it.

yeah right. not all are blessesd with knowledge to understand on what is actually written on their documents . i myself do also check on the feedback rather than reading their whitepapers because it is more easier and takes less time . yet , keep in mind that there are now feedbacks that is fake because they are only being bought . 

You need to also identify it before you finally decide to believe them.

Waiting till then will lose your money so I think I is good for us to know before we invest, now internet is there which we can use to explore the digital currency, almost every coin is at the high price but we should buy only those which has lower price cause buying at the low price ad hold to make it high is the best way of getting profit, there are a lot of fake coins so instead of trusting all of them better chose only bitcoin you will feel really safe using it,

Since everyone is not an expert in looking to documents and every can't say something is wrong with the project by reading the paper alone but try to search on feedback's on this projects before joining, it will help you a little.

Very interesting, research and research is the key.  There are always a chance that whitepaper, road maps, team and others is made up to make it look legit.  I think a little bit of luck maybe important.

i always go for team i always try to find out exactly who is behind the certain project that you are interested in and always try to find out the company behind the project and always try to find out the address of the company because if they are transparent they should share their address, are they afraid to share the address? Also the names I want to know exactly who the CEO is, who the CTO is, and so on.And so forth there is no reason to not share the names, also sometimes I try to reach out to the team and try to get on skype or on telegram and try to talk directly to the founders because it is one thing to read about the project on their website, to read on the whole marketing effort they’re making and to get the information from there and it’s a whole other thing to talk to the founders to talk to the founders directly about the same things that are said in the marketing websites or on the white paper and so on and so forth but you get a whole different perspective when you hear it from the founders.So you can develop your own gut feeling when you have your conversation with the team members. Try to compare the stuff written in the whitepaper to the stuff they talk to you, you maybe be able to find points which were exaggerated for marketing purpose or points they were hiding from people.

Here below I have stated a few red flag detection techniques and what you need to do before investing in any project for preventing getting scammed. if you are knowledgeable and have experience and then you are investing, it is harder to trick you but if you’re just new, if you’re just starting out you might become a victim. You would be vulnerable to scams just because you lack all the knowledge that you need in order to be more prepared and it is natural that everyone has been a new person in the field at one point in time but it is important to educate yourself.

Anonymous Team 
Vague Whitepaper
Too Small or Inactive Community
No GitHub Activity or Project Activities Updates 

So I hope you learn something I hope you now have a better feeling for what is a good project what is a bad project and I hope you are more aware and know how to check a project for red flags. It’s all about awareness, it’s all about knowledge it’s all about being as careful as possible.

Before it become a coin it became an ICO once so before make an investment on those ICOs you should know first the background of the developers and check if they could able to reach their softcap and even the hardcap. It's hard to tell if it is scam or not but you should take the risk otherwise, there will be no profit for you.

If the cryptocurrency gone with no reason and lost its value in instant. And its probably fake.

Instead of you searching for a way to avoid cryptocurrencies that are scam, won’t it be even better when you only go for the top twenty coins? Yes there are lots of cryptocurrencies, but there are already the top cryptocurrencies with good reputation, and they are also well known just like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and a lot more of them. So go for these instead going for new coins you know nothing about since you don’t know how to identify cryptocurrencies that are scam.

As far as I know white paper helps to get the idea about the project. I have been with a proejct for few months @SciDex. How is this one?

to know a project it is scam or not it is kind of hard to predict, I never follow a bounty with a good rating, but at the end of the Ico they don't pay but also never thought that bounty scam but ultimately pay. so my advice don't be afraid to try if it fails then we try again.

We can't say with surity that which one is legitimate and which one is not , because if you will make money in any project then you will say that , that project is better and guinine , regardless of the factor whether the project is legitimate or not .
So don't think any cryptourrency as a scam .
You need to see that how the project is working and at what condition is , I mean if any coin is launched at the exchange and market is better , but still actual coin is not made , then still we have better chances to make money by the fluctuating market , and in that case all depends upon us that how we are handling that market to make profit and loss with our trading strategy .
At the another side there are chances that even a real coin that is listed at the exchange get dumped badly ( by owner or any group of pump and dump ) then you will say that coin is scam only .
So all depends upon us and the result of the market of that Cryptourrency , nothing is sure .

There is not really a way to know for sure, if you do not want to take the risk you can invest in coins that have been around for a long time and that have a good reputation in the forum, but if you want to invest in icos then you need to accept the fact that a majority of them are going to be scams and even the projects that are not scams are not going to give profits in this difficult market.