Nowadays there are so many projects circulating that it makes me confused and difficult to distinguish
Captain bitcoin is one of them be so careful about them
I have the token capt
Just be carful don’t send your eth for a coin that may crash any moment with their network that is off and on
fake project will ask you to send eth before withdrawal or maybe possibly ask you of your key phrase whereas Real project will never ask you to send eth or your key phrase
Beaware telegram is the number one Den for the fake projects .
I’d say stick to what you know, IF you want to venture into uncharted token lands then do some sufficient research. For research I usually use Google, Youtube and I look for reviews. I make it a point to find the negative reviews and analyse them before I fall victim. Sometimes all it takes is to give the token some time before acting on it to see what will happen in the coming days.
PostScript: (Unprofessional Advice) Trust your gut, It never lies.
A tokens whitepaper is always good as well.
For ERC20 tokens, it’s worth to compare contract address
Check out for the official whitepaper, the contract address and places where the coins/tokens are listed.
Do your own research first before taking risk in investing to avoid these scams, its your money be wise
I cant tell you enough how accurate this is. If you research these few things well and then cross reference them you will have a strong idea about a project.
Another good research tool is to go on bitcointalk and do a search on the site for the project your curious about. Almost all of the airdrop campaign managers that are on Telegram are contributing members on BTCtalk. They are very diligent, thorough, and have a plethora of knowledge on this platform. I have found easy access to numerous projects, mostly the ones I thought were scams which everyone I checked on their was consensus belief that these projects were scams indeed. So that is a great resource for a forum that its members are trying to share and educate others about everything crypto vs. Trying to scam you out of your money like 95% of the Tele community. I remember reading a projects white paper one time and something was weird about it like I had seen some of the language that was very specific and unique even for crypto and I went on bitcointalk and sure enough somebody had submitted this project as being a scam because they had proof they plagiarized an earlier projects white paper. In some paragraphs almost word for word.
I also like the looking up of the contract address. If theybare running an airdrop or even an ICO looking for investors their coin should already exist on its respective blockchain. You rarely need a specific address for the token contract but a simple search of the token name or project should direct you straight to this address. If you investigate in here you can learn even more. Ive looked up ERC20 projects that had smart contracts written into their main token address that upon reading learned of a few things that were not advertised like that once airdropped could not be sent from the address they were dropped to unless the dev gave permission himself to allow a transfer. Then post airdrop learned that you had to pay to receive this permission or token passport of sorts.
My last personal advice is if a project appears to be deceiving about information or details pertaining to their project I would suggest never investing in them. If they change crucial deadlines or time frames last second especially without a good explanation for this reason then I highly suggest not investing in this project. Also if they make major changes to their project without transparency throughout the process then I VERY strongly suggest not investing in a project like that. There are projects that will postpone a set airdrop date by months just days before the original date approaches, they often blame the users and rarely take responsibility for the delay. Red flag. Do not forget that the biggest coins out there never would give you an opportunity to invest in their ICO. Why? Well because they have a legitimately serious project with a plethora of big name people as part of the dev team. Names of people that were C-level members of companies like Apple, Google, Microsoft, and many others. So these projects have seriously wealthy and very deep pocketed hedge fund firms that will throw money at them. Read about any successful coin or token in the last 2 or 3 years. They all met their investment targets in record setting speed. I mean in the range of 50 to 300 million range in less than an hours time. This was not done by getting $10 of ETH at a time. This was by a combination of fiat and crypto investments from these reputable investors that many times having the support of these investment firms is equally if not more important than the actual money they were able to fundraise for their project itself. Go onto Coinbase. Look at the coins traded there, not a single one ever was having a community airdrop on Telegram. They might have an airdrop but always through a reputable third party that acts as a business deal they both benefit from. Most airdrops on Telegram get only a few things that they need from an airdrop in that manner. They get mass exposure for a very minimal price including getting almost a completely free advertising campaign via all ots airdrop users. Why do you think almost every airdrop gives extra for referrals and why so many contests and giveaways are based on referrals exclusively. You are all providing dirt cheap advertising directly to their target markets. If they are a legit project this can be a win win for both sides. They give you a stake in their project by giving away some of theor tokens or coins and you by getting your minimum referrals required just made the project that much more likely to succeed. If it is a big success everyone involved wins then right? The coins value skyrockets and what was worth $5-$10 initially could be hundreds of dollars in just a few months after the coin is publicly released.
I forgot who said it but somebody in Bitcoin Core or something said 95% of all of all crypto projects are scams or will fail because they dont offer any substance. There is no new technology or original idea used at all. They said many times they are just poor carbon copies of an already successful project and they dont even seek to improve upon that which they are an ugly image of what so ever. So when taking interest in a new project ask yourself what makes this project standout? While will this project be a success in an ocean of failures? If you dont have a good answer to that its probably not a good idea to invest in. That is of course just my opinion and you are entitled to yours. I however have never been scammed ever and also have made some pretty wise investments on young startup projects that turned out to be mainstays in the world of crypto. Good luck, stay safe, invest wisely, and protect your keys with your life.
I love this, thank you for taking your time in an effort to helps us be safer and wiser in the Crypto space
I think this has been discussed before.
- Team involved in the project.
- Usability of the coin in real life.
- The community following the project.
One has to be super careful about investing in crypto projects these days.
Wow…a lot of good information here. Thank you
That’s quite interesting!