Crypto is a perfect engine for scammers because it's still unregulated and it's also the wild west when it comes to making money quick with less efforts. .
Apart from rugpulls and influencers scam that are very famous with altcoin investment there is one particular side I want you to be much aware of.
Many altcoins you are seeing right now are build on "Make the project, promise the entire world rare utilities and never really deliver anything, they will keep using words and investors will keep hoping.
They deliver small updates only to push the price higher.
They spent hours live streaming almost everyday.
They trust hype more than anything and a finished product will ruin it.
Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.
Yes, this is all true. Most of the owners of scam projects make many promises and great goals to attract investors and gain their trust. Investors will continue to hope for many years, and in the end, the finished product of the project will ruin it, the altcoin will collapse, the project will fail completely, and investors money will be lost and their hopes will be destroyed. Therefore, the altcoin project team is among the most important factors that we must take into account before investing in any altcoins, because if a team is not honest with its promises and does not have sufficient experience, and is reckless, then we can immediately switch to any altcoins, so this decision will be safer.