There are many projects and each shows users big plans and ambitions. But as practice shows, not all projects keep their word and people often lose money by investing in the wrong project.
Recently I came across a project that was created to solve this problem - CheckDot. They have a nice strategy for checking and verifying projects, which seems to be useful.
What do you think about this problem and what solutions do you see?
I need to confess here that due to my incapability to find out what are the legit projects and what are the potential scam projects, I started to stay away from altcoin investment and this industry. Because, this is the only way I believed that I could avoid scams in this altcoin investment opportunities. Honestly these days scammers too smart and intelligent hence you cannot easily spot out any potential scam.
To find out one good and real investment opportunity in altcoin investments, you must need to to diversify your investments into more than 10 different projects so that you might get at least one good opportunity. This way there will be no guarantee that you will get back 2x or more. So, I decided to stay within only bitcoin investments.
DYOR will always be the best solution you are looking for. If you find a good project but you are still uncertain if its legit or not, then always do legit check through making consistent research. However, investing in projects you are not really sure of will always bring a lot of risk and pressure since you are putting your money with no definite result. Maybe staying away from altcoins and focus on bitcoin is what you need to do for now since you cannot manage the risk in altcoins.