How to identify fraudulent in crypto currencies projects?

[Irungu 4299]

Thats a very good idea , and it is actually good to see what is the best and what is not in the world of crypto , but there is also another one, this is to use the one of  a site for dead coins, this will give you some of the coins that are scams or dead, you can even study the coins perfectly

[khan22 3478]

Fraud currency always make a fake trading on their coins and also they make fake investment if the coin is speedy go to up and after 2 days that coin will come again down so much fastly than the coin is fake becasue always fake coin do this every time and they make dumb their coins and the newbie almost got the loss.

[Guru2050 8284]

The most suitable, easiest and most effective method to know whether a site is frauds or not it's through proper and extensive investigation, carefully took your time and the read the project white paper, search for the site reviews on trustpilot, quora, and Alexa reviewing site and others purposely to confirm its legitimacy. 

[Alex9876r 1408]

And read the white paper for the project And monitor the interaction of the project team with subscribers and investors It is better to seek help from experts, who have better opinions and an objective view.

[percare 3192]

We can identify a fraudulent project using many indicators that can help us but these are not the number of followers in social media or in telegram and not what they tweet about. A project needs to have something ready, this has become lately that projects don't have anything ready and only have a website with some pictures and their ideas. This may not mean they are scams but why should we invest in something that is not ready but in some plans of amateurs.

[Sykkuno 2887]

A project maybe has good plans and some members talk about moon we can't say that this will be a red flag but if the project only thinks and talks about the price then it can be very bad and maybe a scam, but it is not evidence and this is what you need to be sure about a scam. You need evidence of scamming or having the plan to do that.

[bogdanoff 3173]

Yes these are some shady ways that cryptocurrency developers and token managers use to promote their coins and maybe they lie or misinform investors about partnerships and give fake data, they can be called fraudulent too but they are not directly scammers but very shady and can't be trusted.

[Masterrex 559]

Thanks for the reminders mate, I think that was the most common things to do on how to avoid those fraudulent projects and its better to check and familiarize first the project functions and promises including its product and services if it was possible or it was only a too good to be true  plus the identity of the team it's also important. 

[Cryptic 0]

Since we can't already know that the project is scam until no one complain about it, so better to research just like what the owner of this topic said if the company is reliable or not, then from the information you have gathered make a conclusion and that is the time to make a decision. In every action we will do, we have to think and make a research first, so in the end we don't regret it.

[sarahmoses202020 251]

On 4/9/2020 at 10:28 AM, SuperCrypto said:

In the world of cryptocurrencies, we encounter a lot of fraud and fraud on a daily basis. Some fraudulent currency projects have recently appeared that deceived many investors.
How do you know if a cryptocurrency is a serious project or just a scam?

Tips for detecting fraud and fraud
There are some lessons that can be learned that can help you avoid scams and have categorized them as follows:

• The question of who is behind the project: Find the company, the founders and the project team, check out their social media pages.
• Partnership: Many Crypto projects claim that they have entered into many partnerships with big and well-known names but in reality they may be just their users and customers so this must be verified.
• Checking the project on news sites: I recommend checking the type of newspaper articles about the project to see if they are written objectively, or published as part of a public relations campaign.
• Reaching the moon: It is a common term for misleading and may be merely propaganda in favor of parties affiliated with the project aiming at deceiving and gathering the largest possible number of investors.

 

These were some tips and guidelines that can help you and make you familiar with even a little bit about the way fraudulent operations proceed. And please if you have other suggestions to add to the site and enrich it.

 

So many investment has been misleading people and taking there money from them. If we can actually figure out a way to identify them, it would surely be a great advantage to us because these scams are getting out of hand. Knowing the person behind the project is a very vital info.

[SuperCrypto 7193]

40 minutes ago, sarahmoses202020 said:

So many investment has been misleading people and taking there money from them. If we can actually figure out a way to identify them, it would surely be a great advantage to us because these scams are getting out of hand. Knowing the person behind the project is a very vital info.

When you want to invest in a new currency project, you should examine the project from all sides and study it well. So, you should note the liquidity of the currency and the platforms it eligible to list in. It is also important to follow up the project social media and to ensure the it's team is work to developing it seriously.

[khan22 3478]

Always the fraud peoples make a great and attractive project and they also give you good profit at start but after some time they make a scam with you because this is a psychology that if we got profit than we invest high level of money in that thing.

[williamjones 57]

Many thanks for your details. This will be best for newbies right up until they will find a method in order to avoid fraudulence. I point out it is extremely essential to look for the foundation of the venture as well as the organizations in which help that, as the bulk inside fraudulence jobs is not going to care to be able to take the particular unique of your international business, thus are going to uncovered right away.

[Anamika3891 22]

Mate i hope you know that there are a lot of spammer and which trick they use... It is easy... I think Most of them use 2 trick... One they will show uou a big profitable airdrop and tell you to send som coin and they will pay you... And other when you will be in problem... Like you...

[jack23456 81]

Negative or perhaps artificial jobs tend to be seen as a simple method so they can arrive at the industry when they will notice they've received plenty of associates, they will be a cheater about every one of the consumers or perhaps buyers. Nonetheless, there's no certain basis for comprehending these kinds of, up to now, simply no principles are already identified that will help make negative jobs challenging, but some tips can be obtained.

[SuperCrypto 7193]

22 hours ago, hajathava said:

There are more ways to identify scams, but I avoid projects without real known team. that is what I do. I usually don't invest. the important point is never believe about what some websites promised to you without any reliable team. if you want to drive to something new, just learn about what you want to do.

Learning is the best way to uncover fraudsters' scams and lies. When you read and understand currency projects, you have the ability to distinguish between true and false projects. Therefore, you must follow the news of new currencies on social media and know people's opinions about them.

[Gluttony 1775]

The tips are actually a big help since I get to experience this kind of event. However, I don’t know where to find this but I guess I should just research it by myself. Now that I know what I really need to know before trusting to some kind of newly introduced coins I guess I need to make a full background check about to this kind of project before fully trusting them and putting my investment down the line for their project. I just hope the next project that I would be involved with should at least make me or generate me profit so that I could hope to invest to it more than other coins out there in the trade exchange market.

[Abdalrazig 1865]

Those are really great tips, some people rush to earn money thinking that it is easy to make money and get rich, but we need to be more careful and teach people scams

[yifnt 666]

It's actually quite easy to know whether a new project is a scam or not, we can see from their website that it looks professional or not and also from the team whether it's really real or just using other people's photos. It is already a risk if we invest in new projects in crypto. So sometimes a project that looks good can become a scam and a project that looks bad turns out to be doing some serious work.

[Maaz sultan 265]

I just advice everyone to just work with legit and old projects that have a high reputation amount the users instead of get the new project that waste your time and money which anyone dont want .

[Brushless4500KV 4214]

The easiest way to detect fraud in any project is to read its offers and what they claim to pay you as profit. The most obvious characteristic of fraudulent projects is that they don't make sense. A simple calculation shows that they will lose more than what they earn if they want to satisfy their investors. So, if you see any project with a scheme that doesn't work in reality, stay away from it even if they pay you interest because they usually pay for a few weeks and then disappear and close their websites.

[Tunuu 2235]

Thank you mate. I always curious to find out who is behind a project before i trust and join because not all projects are safe. We can also ask for reviews for projects from our friends.

[yonkii 3205]

On 4/9/2020 at 12:28 PM, SuperCrypto said:

Reaching the moon: It is a common term for misleading and may be merely propaganda in favor of parties affiliated with the project aiming at deceiving and gathering the largest possible number of investors.

Oh, are you sure about that? If a project is talking about the moon it will be propaganda from them and they will only do that to deceive. Maybe I will start looking for this sign more because I remember I've been reading many tweets about moon and price for many projects. Can all these be scams I hope not.

[annayks 2314]

These are important signs to know that they are red flags for a project and we should know that when we see them we should better run instead of investing. For beginners it is hard to notice but with enough experience you learn to avoid these scams in the first place and don't lose any time either.

[annayks 2314]

I don't invest in any project lately but I was too in the ICO craze an investor that lost money from some of them. After most disappeared it was clear and altcoins lost 90% of their price it was more clear that Bitcoin should be our objective and the rest altcoins were not exactly the best investments for long term.