Post
Topic
Board Beginners & Help
Re: Well Organized Scam Projects
by
casperBGD
on 13/04/2020, 10:43:09 UTC
How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this
Extensive research. Not just the kind of research wherein you're just scanning the project/startup's website and not doing extensive background search.
You need to look past the wonderful looking website, the listing promises to a prominent cryptocurrency exchange and even to how well-known the team behind such a project is.
Dig deeper until you find some red-flags. Avoid getting lured in with the "nice things" others may say about the project/company; you'll have to do your assessments on your own.
If everything checks out then you may jump-in, but remember, invest only what you can afford to lose.

agree, it is better to do extensive research in the beginning of the project, and then do bounty for projects that you trust, it is still not certain that you will end up with the reward received
but if you do not do extensive research at the start, then you will invest your time many times in following days/months, without even knowing if the project is realistic