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.
When you see a scam projects you can know them, but the problem with people is that some certain investors do get excited and also be curious whenever they see some of the investment, so therefore I believe cryptocurrency investment if you don't want to venture into the wrong investment you have to at most make a research concerning any projects that you want to establish with, I know quite well that cryptocurrency investment or any newly established projects required a proper investigation before someone can invest in such projects, its the newbies that doesn't ask questions before investing.
usually some newbies just think some random project as the "next big thing" and call it a day, thats what make some scam project easily scam people more prominently newbies because they hesitant to ask question and even when they try to ask question they don't even know what they should ask and this is also where finding out knowledge about how altcoin works, what fundamental many altcoin present comes into play.
but honestly once we get the gist of how altcoin works in general, and also we've been dealing enough with so many altcoin even more so with thos high quality altcoin backed by some big company like coinbase for example we could know just at glance that some project are just pure shit, because we have that instinct to find the weak point of certain project when we are always investing in good altcoin and also finding technicality aspect of that coin, but for newbie, just see whether some project is overpromising.