Often as a newbie, when you see a new project you are tempted to invest in it. Why I agree that not all new projects are scam, always ensure that you do your own research before putting your hard earn money into a project, otherwise you will wake up to discover that the devs have disappeared with your money.
I have a personal experience, a friend and a mentor told me about a new project that was looking very promising, he advised that I invest in it. So, I did even without doing my little investigating, not too long, the dev pulled out liquidity and that was the end of the road for the project.
So, that's how I lost my investment in that project, though I didn't put much, just about 10$, but a lost is a lost.
Please, be careful out there, the devs are not smiling
And if you must invest in a project you are not too sure of, always put something small, don't go all in, you might end up regretting.
Investing in new projects is really tempting considering the facts that you get to enter pretty early while the project is just coming to limelight.
However, the danger is that you might end falling for a scam, and lose all your money.
These days, despite doing due diligence and researching about a new project, you might still fall for a scam.
So it is becoming very hard to tell a real from a scam project. And no matter your level of expertise, you might still fall