Post
Topic
Board Altcoin Discussion
Re: How to avoid a scam project?
by
goldkingcoiner
on 17/11/2023, 04:27:54 UTC
There are so many new projects launching everyday and some of them can be good and some of them can be a scam as well. How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.

Just remember to listen to your gut feeling and most importantly, always make sure you are following common sense. Those two things will keep you very safe.

Most scams are built very poorly and lazily. And this is the most important identifying mark of a scam project. A professional project will have put in a large amount of work, and therefore money, into every detail. A scammer would not waste money on such investments. Also, in order to make sure that their business is completely transparent. The same goes for their team members. No anonymous team members. They should vouch for the project with their real identity and be able to prove that they are who they say they are.

However, if you slacken the security then you might find yourself in trouble.