Hey guys,
I've checked some intersting altcoins which are pretty cheap now, the projects look promising and legit but I'm still afraid that they could be another pump and dumps (there were so many of them already!). What are the signs or metrics that send alert signals about the projects and I should check deeper or not risk my money? Or is it just impossible to tell if it's another pump and dump scam project.
According to my understanding, the many ways and techniques employed by fraudulent projects raise money from investors by rewarding them for sending active cryptocurrencies like bitcoin and ethereum, customers are promised a discount on the new crypto coin. In fact, many of these scam projects have no original ideas, more than 15% of which have copied ideas from other cryptocurrencies, or even plagiarized supporting documentation. Therefore, investors should be very careful about researching what they are putting in and be sure to find out who is involved and what the real plans of the crypto project are to make money without scamming other people.