The main signs of a scam-project 🗳

2 years ago

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Catch information that will help you distinguish worthwhile projects from those on which you are 100% likely to lose money 🥲

◾️Project team throws around promises they can't deliver. For example, promises guaranteed earnings that cannot be accurately predicted.

◾️The project team is anonymous. When implementing a quality project, there is no point in hiding the team. Even the opposite, a strong team is one of the factors of success of the project, which is evaluated by investors.

◾️The project has no technical documentation or working product. Even the most revolutionary idea without proper documentation of its technical solution is nothing.

◾️An announcement of a super large-scale project with a small team. It's hardly worth trusting a project if there are a few people on the team and they want to become the new Google or Apple without any product.

◾️Roadmap, painted out for several years ahead. The crypto market is very dynamic, with the likelihood that several peers will have already been released in that time.

◾️Lots of consultants. Most of them are involved in projects for money or for self-praise. If there are a lot of them, it is not yet a sign of quality.

◾️Large share of the team in the allocation of tokens. Often a team wants to get 30-40% of the tokens, and loudly proclaims the high decentralization of the project. This looks very questionable.

◾️Low token price. Some may see this as a great potential for growth, but attention should be paid to capitalization.

◾️Weak marketing. Even the coolest product can fail if nobody knows about it. The absence of the project in any social networks is already a very alarming sign.

◾️A very big hype around a project. This is not always a good thing either. Maybe all the money went to marketing rather than the product itself. And it can also lead to external audits and investigations, which can have a negative impact on the further fate of the project.

◾️It is not clear what the project does. If you've studied the information about the project, but still don't understand it, you shouldn't carry money there. Either the team is unable to adequately convey information, or is trying to hide something.

◾️Project hides information about competitors. A good project should not be afraid of competitors. If they are not mentioned in the documentation, that is a reason to think twice.

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