Quote from: kidbounty on Today at 06:28:15 AM

Quote from: Oshosondy on May 18, 2022, 07:36:31 AM

The best is to stay away from new projects, there are still some good altcoins in the first 100 rank that you can invest on, but know generally that altcoins are risky just like luna that was in the first 15 rank that is not in first 100 in just few days. New projects are more risk.

Go to Coinmarketcap and check the contract address of the new project

Follow the developers like on social media, question them and know what the project is all about.

This is one of the most important part, read the white paper, check for plagiarism, if plagiarised, it is a scam.

Even a new project can become pump and dump. New projects are highly risky.

unfortunately this method is not very useful. since the luna problem happened, i think this way is still not good enough to verify a project. experienced team, 100% original whitepaper, strong community, it was all in the luna project, but in the end this project became one of the biggest shit projects in crypto history.

It was just unfortunate for Luna, it seem more if a Ponzi scheme but it was just what altcoin can bring qnd lead to losses but Luna is not a scam coin, it was just a coin that want to become a failed project.