You would think the majority of us could spot a crypto scam. A project designed to entice the newcomer and some speculative interest from the veterans. They're always too good to be true, believe me. Sometimes so good they get the best of us. Try to stick to the below and you shouldn't have any issues.
1. The Pre-sale purchase to scam rate is about 50% - so if a project is offering 'pre-sale' on it's token, half of the time you're going to get scammed. Apply special caution to any token in pre-sale which carries no inherent value other than the site's applied value, i.e no exchange/ICO backing.
2. If the rates are anything with high-granularity, daily returns - think 1% daily on a minimum $10 input, looking at you Watermine. AVOID.
3. If they offer a juicy initial entry bonus, (like a million BTC Sat's on signup, available after one week) that never appears. Or you are met with some form of paywall preventing you receiving the signup offer. Big red flag.
4. There's some great site's out there for educating yourself and spot-checking the legitimacy of projects and sites such as:
https://hyiplife.pro/
https://fried.com/crypto-scam-checker/
5. Check for a social media presence, this doesn't always determine whether a site is legit as many of the ponzi-style projects hold strong social media presence to maintain a veil of legitimacy. However, a complete lack of social media presence means the project is likely a scam.
6. Look for partnerships with reputed projects. Most of the exchanges and DeFi projects will display their patronage to the other projects on the homepage as a mark of legitimacy. New Projects missing these partnerships should be treated carefully.
The above is a short but concise list on what to avoid and what to look out for. Honestly, you'll probably still fall for the same traps most do, hence why these Crypto-pirates continue to appear. Educate yourself quickly to avoid their traps and save your hard earned sats.
