Topic: What tips you will give to a new investor to identify scam projects early ? (Read 1077 times)
March 23, 2024, 01:09:13 AM
Identifying a scam projects is difficult sometimes but there are great tips that can help anyone to identify them, if you want to identify scam projects you have to make a versed research on such project to know it's authenticity, when you are making this research meet friends that are into the business explain to them too, i know for sure that they will definitely have something to say, the longevity of the project should be ascertained too because must scam projects dont last up to one week, so this things should be considered before you fully decide to take part in any project.
January 30, 2024, 06:21:39 PM
We can see whether it is a scam or not by their promises and their explanation about the project. It is not 100% accurate but at least it is a sign whether the project is a SCAM or not. I always look at how the development team promises whether it makes sense or not. Most projects are scams because they are looking for quick profits, they will make very tempting promises such as high interest. You can also see a presentation about their project whether it makes sense or sounds like an impossible ambition.
But if this is the only way you can determine then it’s kind of flawed because what if the project launches and give realistic but enticing offer in which they aren’t claiming to double the money but that you will make good gains (just about like every other project does). Your method isn’t bad but what I’m saying is that you should have different methods so even if one fails, another won’t.
January 27, 2024, 06:57:18 PM
We can see whether it is a scam or not by their promises and their explanation about the project. It is not 100% accurate but at least it is a sign whether the project is a SCAM or not. I always look at how the development team promises whether it makes sense or not. Most projects are scams because they are looking for quick profits, they will make very tempting promises such as high interest. You can also see a presentation about their project whether it makes sense or sounds like an impossible ambition.
January 27, 2024, 06:23:19 PM
Tip 2: check their socials and telegram community (if any), see how much people are also interested in them. Do people believe in them or just unnecessarily hyping them.
Community speaks well about how far a project can go but this days, scam project go far to buy social accounts with many followers and use it for their project. They deceive people with the number of members they have on their socials especially on Telegram. If it's Twitter, check the numbers of people they are following, this may guide you to know if it's a purchased Twitter account. Scammers are becoming more expert everyday on their scam, so investors need to be very careful.
Good thing to mention, however, you can figure it all out. An instance of how you can figure this out is checking how Instagram shows everyone your name change history. So if you buy an account in Instagram and change the name, it shows how many times you’ve changed the name so they are guided. I’m not sure if Twitter does the same, but you can do twitter audit which will tell you how many percent of the followers are real. Even the Twitter replies will be able to tell if people genuinely seek the project.
January 27, 2024, 05:58:15 PM
Tip 2: check their socials and telegram community (if any), see how much people are also interested in them. Do people believe in them or just unnecessarily hyping them.
Community speaks well about how far a project can go but this days, scam project go far to buy social accounts with many followers and use it for their project. They deceive people with the number of members they have on their socials especially on Telegram. If it's Twitter, check the numbers of people they are following, this may guide you to know if it's a purchased Twitter account. Scammers are becoming more expert everyday on their scam, so investors need to be very careful.
Sometimes the community can be the most deceiving, provoking you to make the wrong decision. Many projects use shillers in their early stages to show investors how active their community is when most of that activity is done by bot accounts. How strong a project is can be justified by seeing its team members and who is funding it. A project can be very good, but without proper marketing it won't be able to build a community. So funding from VC is also important to build a successful project.
January 27, 2024, 05:28:35 PM
Tip 2: check their socials and telegram community (if any), see how much people are also interested in them. Do people believe in them or just unnecessarily hyping them.
Community speaks well about how far a project can go but this days, scam project go far to buy social accounts with many followers and use it for their project. They deceive people with the number of members they have on their socials especially on Telegram. If it's Twitter, check the numbers of people they are following, this may guide you to know if it's a purchased Twitter account. Scammers are becoming more expert everyday on their scam, so investors need to be very careful.
January 27, 2024, 04:02:34 PM
Base on my little experience being a victim of scam, I invested my money and get lost at the end. The number one thing to check is the team behind the project and social media, like Twitter and telegram communication and finally Smart contract address of the holder and transaction recorded, at least with these few tips you're good to go by investing on the particular Coin you make research on.
January 27, 2024, 06:43:21 AM
You know, along with the development of the crypto space, of course it would be more difficult to spot scam projects immediately. Even after thorough research, some of us could get scammed. Why? Because these criminals learn too, their scam trials develop too. It's not only us who get smarter; they're too. One thing is for sure: if they promised you good-to be true deals, then just leave them; it might be a Ponzy scheme. Another thing to minimize the risk is probably if the team is doxxed; although it's not always a green light, a thorough check in general is still needed.
January 27, 2024, 06:20:11 AM
This is not just about giving tips of how we can know scam project because this can be very difficult to the newbies.
The more we stay in the market, the more we tend to understand the market. If we know what we are doing and are able to work with so many projects, with that we can know what project really worth our investment. This is why investors that had been in the market for long can always spot bad projects because they might have fallen victim to majority.
Yes that's right sir, I agree that trading is not a competition over whose predictions are the fastest to identify instantly, the solution step is to keep your footing even though you are still monitoring in an altcoin because you are increasingly recognizing charts with past conversions (maybe some time near the beginning of the listing) because trend events may repeat themselves. If anyone guesses so quickly on his full analysis in the future conditions are not the same because it needs such identification. Moreover, altcoins are so not too many visits if you are sure it is better to reduce the percentage of capital into several parts of the buying session. for me there is no need to force a long time as fanatical as anything on an altcoin because the goal is trading by utilizing existing market segments. The more we stay in the market, the more we tend to understand the market. If we know what we are doing and are able to work with so many projects, with that we can know what project really worth our investment. This is why investors that had been in the market for long can always spot bad projects because they might have fallen victim to majority.
January 26, 2024, 11:32:30 PM
1) Detailed research about the project and people behind the project.
I don't really understand the situation at the moment but just remember when ICOs were very booming how many projects used fake names and photos to deceive their investors and also if he wasn't a well-known developer of course we couldn't know his actions in the crypto world and also see how some well-known developers actually make their projects cause losses to their investors so this cannot be used as a guarantee.
2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice.
And I feel this is better because many members on this forum are honest in expressing their assessments about new projects except for newbies, I quite doubt it.Another step that we can take is to continue to monitor developments or news about cryptocurrency, this will increase knowledge, including new forms of scams launched by developers or also potential projects that are scams because their fundamentals are very weak.
January 26, 2024, 06:25:50 PM
3) Checking the community of the project on social media. If there are lot of bot replies or comments on their posts in social media like Twitter, there is strong chance that the coin price is being manipulated.
Be careful that if the new projects are doing bounty campaigns somewhere, then chance of the meaningless comments appearing are really high because somehow they just don't bring any organic comments to the thread and they just make a generic comments possible and hence why the team sometimes don't really like the result of those because of how bad the comments are.I just don't bother to check the comments on social media, because it's just full of that. I only check the telegram and only the official announcements on twitter because I find it really reliable.
January 26, 2024, 06:03:44 PM
Tip 1: wherever you hear or whichever project tells you that when you invest money with them, they’ll double it or triple it, run pretty far because that building will collapse. Additionally, if a project is being too sure of returns, you need to check them again and be very careful because the market is never certain and luring you to invest with assurance that you’ll get interests in no time can be deceitful.
Tip 2: check their socials and telegram community (if any), see how much people are also interested in them. Do people believe in them or just unnecessarily hyping them.
Tip 2: check their socials and telegram community (if any), see how much people are also interested in them. Do people believe in them or just unnecessarily hyping them.
January 26, 2024, 02:25:29 PM
I think this has been done a lot, there are so many new projects out there created just to make a profit in a short time, then the project dies, and they create a new project again to do the same thing.
Why do you think this keeps happening?
because there are people out there who keep buying projects like this.
Why do you think this keeps happening?
because there are people out there who keep buying projects like this.
People lost their money in one scam project but they never realize the fact that there can also be same project which are newly generated project and they don't read about the project's whitepaper which is most important point for knowing about project.
Newbies do this thing most of the time and repeat the process again and again as a result of which they loss their money and also make the project trendy which become end when a slight negative news comes to hear. All new project are not scam and one can easily predict about the project by giving little timing to investigation and reading detail about the newly originated project.
January 26, 2024, 01:17:43 PM
This is not just about giving tips of how we can know scam project because this can be very difficult to the newbies.
The more we stay in the market, the more we tend to understand the market. If we know what we are doing and are able to work with so many projects, with that we can know what project really worth our investment. This is why investors that had been in the market for long can always spot bad projects because they might have fallen victim to majority.
The more we stay in the market, the more we tend to understand the market. If we know what we are doing and are able to work with so many projects, with that we can know what project really worth our investment. This is why investors that had been in the market for long can always spot bad projects because they might have fallen victim to majority.
January 26, 2024, 02:51:36 AM
Shitcoin is not something you can see, but meme is something that promotes itself. If something comes up with a name "apeshibadogecoin!" and you see that, know that it's full fake and horrible. I have seen one called PEPEAI, it was using pepe and also AI in the same name just to make sure people buy.
And there wasn't even anything AI about it neither, it literally had zero AI in the system, it was just using the name, and promising something related to AI will be added on later when you give them enough funding, I am sorry but I can make an AI product if you give me enough funding too, or you can too, everyone can do that if you give them enough funding, that is not really why people like to fund projects, you need to have something in your hands.
And there wasn't even anything AI about it neither, it literally had zero AI in the system, it was just using the name, and promising something related to AI will be added on later when you give them enough funding, I am sorry but I can make an AI product if you give me enough funding too, or you can too, everyone can do that if you give them enough funding, that is not really why people like to fund projects, you need to have something in your hands.
I think this has been done a lot, there are so many new projects out there created just to make a profit in a short time, then the project dies, and they create a new project again to do the same thing.
Why do you think this keeps happening?
because there are people out there who keep buying projects like this.
January 26, 2024, 01:01:43 AM
Before investing in a new project, you must know about the project and you must have a general idea that you will invest immediately. And Sabla wants to see it is not possible stupidity. In any case if I ask you to notice some things you must follow the project's ICO and IEO and follow the project's website and the project's supply and security to see how it supplies and what the price is and see what kind of exchanger list. It is better if it is a good quality exchange list. And you must look like a safe and you must take care to keep it in messenger.
January 26, 2024, 12:24:16 AM
These days, it is becoming more and more difficult identifying scams. These scammers have really up there game. Now, everything looks clean and near perfect and yet eventually turns out to be a scam.
January 25, 2024, 08:50:22 PM
Well I think a new investor needs to be careful with investing in a new project. There is thousands of projects that we know are going to fail or will in the end do a 'rug pull'.
But a new investor will still want to invest if project can look profitable. We need to be careful how the project handles itself on forums and social media. If it does sound like the profits is too good to be true then it is good chance to avoid the project.
its honestly easy avoiding rugpull just invest in a project that are invested by venture capitals and we can avoid rugpull really easily to be honest.But a new investor will still want to invest if project can look profitable. We need to be careful how the project handles itself on forums and social media. If it does sound like the profits is too good to be true then it is good chance to avoid the project.
the thing is that some people are still fixated with random coin doing presale through dexes even more ridiculous meme coin doing presale, a meme coin was supposed to be for fun but some devs are just too money hungry to let that money grabbing chance missed so they did some presale, as a result the meme coin got rugpulled.
just stick with coin that are invested by venture capital they are definitely already thoroughly reviewed by the venture capital team and will definitely become bountiful investment in the future.
otherwise we will be having some unnecessary risk in the future if we dont just avoid those shady presale altogether.
January 25, 2024, 08:02:37 PM
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These are like general advice but do you some specific signs that newbies can spot in scam projects early. What tips you will give to a new investor to identify scam projects early ?
These are like general advice but do you some specific signs that newbies can spot in scam projects early. What tips you will give to a new investor to identify scam projects early ?
I believe one of the best things one can do while seeking for projects is to use the Blockchain explorer to check the distribution of the tokens or the coins among all the existing wallets, that helps to know whether the creators of the coin/token are whales who could easily dump the value of the token and run with much of the money.
Another thing I would like to point out is checking on the liquidity in decentralized exchanges, it is important to know whether it is possible to easily sell and purchase the token one wants to invest in, if there would be a way to verify the number of liquidity providers on the decentralized exchange it would be ideal, the more providers of liquidity, it becomes less likely for us to become a victim of a rug pull.
Also, checking on the team behind is project is advisable, but rarely the team of a project are willing to put their actual personal information out there for others to see, regardless their coin/token being legitimate, so sometimes this is not completely a deal-breaker.
January 25, 2024, 06:59:36 PM
Shitcoin is not something you can see, but meme is something that promotes itself. If something comes up with a name "apeshibadogecoin!" and you see that, know that it's full fake and horrible. I have seen one called PEPEAI, it was using pepe and also AI in the same name just to make sure people buy.
And there wasn't even anything AI about it neither, it literally had zero AI in the system, it was just using the name, and promising something related to AI will be added on later when you give them enough funding, I am sorry but I can make an AI product if you give me enough funding too, or you can too, everyone can do that if you give them enough funding, that is not really why people like to fund projects, you need to have something in your hands.
Projects can failed to pump to the moon, after much money put behind to milk from the project, the false beliefs from other top influential men, what will happen to the one person that convince everyone to indulge in the project? The market comes with different projects, some tend to looks legit but deep down, they're one of these numerous scams in the system. We tend to apply safety in whatever activity we anticipate in because none of us would want to see the downfall of other colleagues in the market. And there wasn't even anything AI about it neither, it literally had zero AI in the system, it was just using the name, and promising something related to AI will be added on later when you give them enough funding, I am sorry but I can make an AI product if you give me enough funding too, or you can too, everyone can do that if you give them enough funding, that is not really why people like to fund projects, you need to have something in your hands.
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