First rule: Anything named after bitcoin other than Bitcoin is a pump&dump coin. But here's the good part, most of them are useful for day traders and miners since it will surely be pumped after a while as long as it has a huge user base and just got started.

Second: When the site was deliberately named after another, it is a 100% red flag. Even though it has a community and fairly low price, there's no assurance that it is legit. Example is Bitconnect, it has a huge price & large community but it was a scam all along.

Chances that it is a scam is high, if you have a good GPU with high Memory Bandwidth, why don't you mine Grin instead (It looks like it was endorsed by theymos). That alone lured me into Grin.