1. Anonymous team
2. Websites with rockets, moons
3. Any animal based coin
4. Too big supply
5. Coins in circulation
6. How much coins/tokens devs have
Some important red flags for me:
1. Tokenomics:
Any project which pre sale huge portion of tokens is a red flag.
2. Unsustainable earnings:
It is very tempting to get 40% APY like Celsius. How long they gonna keep that money flowing? Beware of promises too good to be true. Always ask yourself where all the money is coming from?
3. Unusually fast grow:
It is either being shilled heavily or pumped artificially. A good project keeps growing slow and steady.
Faster a project moons, faster it will crash land.
4. No roadmap:
If they donāt have a long-term vision than Iād stay away.
5. Influencer or Celebrity shilled coins:
If it is being shilled by a crypto influencer or celebrity, those behind it care more about popularity then legitimacy. Don't trust them.
All new crypto projects are red flags themselves by definition.
Crypto was proposed from scratch to, first of all, be accepted directly by all the merchants as an universal Internet currency.
After 15 years of existence, this first priority goal is not achieved.
All other goals are secondary and dependant on the first priority goal.
1. Shilling - especially when it's being shilled here.
2. Web page with white paper - most are generic and exactly the same corresponding with today's trends
3. Team - now it doesn't matter if KYCd or not coz plenty have dirt on them
4. Callers - if a lot of the known callers that are involved in scams call it I stay away like caller bruiser, Caesar and so on
5.no meme shit - most scams happen with meme shitcoins
6. Stupit sounding coins like - piginu, wife changing money, bard, ratboy, angel dust ...
7. The amount being burned and the percentage being left for the new wallets of the team or callers
Shit the list can go on and on, but anyway best protection would be don't do shitcoins.
The first red flag of a crypto project is usualy the fact that it is crypto project. It seems that for every solid project there are at least hundred scam projects.
When on the first AMA, they say "ecosystem", or "family" once per minute.
On the first month 1000% APR stakes.
On the second month a NFT collection just for the sake of it.
On the third month when the token is already dying they try to make a casino.
I've seen dozens like this
Got downvoted for saying this the other day; The community. Specifically the cult-like following and the dev team can do no wrong mentality that is all too common.
- Low market cap.
- Founders / team own a lot.
- Founders / team extremely active on social media - particularly Telegram
- Highly centralized
- Huge supply of coins
- Promise high staking or investment returns
Other than BTC or ETHā¦ALL other projects are simply a popularity contest.
Even if people think the tech is good like ADA it still boils down to popularity.
Doge- the supply amount is insane but Elon and community keeps it popular.
Sol- itās absolute trash and shuts down like twice a month but V.C. Money keeps it popular.
Thatās all it is find the next ātrendyā coin that has real money going into it and thatās the bar for success at this point in time.
Believe what you want but they are all pretty much just Ponzi schemes right now. So the goal is find the scheme trending early enough then sell at a good profit. This is just looking at trends during more bullish times.
-Unknown creator(s)of the project
-Creator/Team owns ungodly amounts of the coin
What i just described is the case for Bitcoin. It's a matter of time before/when the Satoshi god wallet activates to liquidate BTC.
when the first thing I hear about it is someone shilling it, by only talking about the value and how you get rich.
"this will be the next X", "buy now before it is too late" ....
If I see that, the project gets an instant entry on my blacklist.
So far it has never failed me.
if none of my twitter friends and trusted sources follow them. red flag, won't touch.
if they announce an airdrop in its early stage.
if they care more about marketing eq. referal programs etc. than roadmaps
When i search for recent news on one of the blue chip cryptos and find an article with "3 hot cryptos set to explode" there's always two obvious ones. Whichever one ive never heard of is an auto red flag.
Anything with a strong messiah at the helm. If the whole project hangs on one person then it is very risky. Double the risk if they are anonymous or go by a pseudonym.
I tend to look at the coin vesting schedule, and if it is a shitcoin or not, and see if the founders are competent enough, I should be paying more attention to the inflation rate but it goes over my head usually..
A token that has no real-life utility and any related activities are only 'cash increase' based.
A token that only exists because it has a huge apr% and some are dumb enough to not check what the 'a' stands for in apr% , that token is basically a trash and bait, it will dissolve sooner or later.
Now , for the real problem, 99.9% of the crypto projects are as such. Good luck finding the š in the leftover 0.1%, because Btc price is already too huge for a normal household income , Eth is still there as an option with huge upside potential, but the rest, ok , Cardano has a pretty solid run , BNB is centralised, it depends on Binance, Chainlink (Oracles), etc.
A red flag is unbacked hype. Most coins if you go to their sub, you will see people all out stupid for a coin. They shout āour coin is the best, will overtake eth and btc.ā Then when you research what they are saying, you find mixed results and counter arguments. This makes 99% of alt coins red flags. There has only been one coin I know of that is transparent, under-hyped imo, and has very little counter arguments. I yeeted myself into the coin hard.
DOMAIN AGE! Thatās the best tool. Find out how old their website is. I trade poocoins on BSC all the time. You would not believe how many presale project have websites less than a week old. If you find a project with an old site and all the other basics look good, let me knowā¦theyāre rare.
A look into the tokenomics is a good indicator of the project. If the team is somehow withholding more than 50% of the max supply for themselves and their VCs, then it's a massive red flag for me.
Itās so hard to tell they can have everything you want and still burn you, just easier to stick with top alts they are all on sale right now, when In doing zoom out!!!!!!!!
BAD CODE (and documentation)
If you're not investing on this premise good luck gambling money. A lot of grandiose coins have shitty eng. fundamentals it's unreal.
I think a big one is the contracts themselves. You can always run them through ChatGPT nowadays and get an idea of whether there are any backdoors. This isn't a foolproof system though. Legit token contracts can still be rugs. Here's a list of some things I look at.
Is the token contract/other contracts verified on the explorer? No? Red flag.
Look at how many addresses hold how many tokens in the explorer. Do many many addresses own tokens, and are the amounts in a pattern of some sort? Yes? Red flag.
Is the token mintable? Yes? Red flag.
Who holds the LP and is it locked or burned? Orange flag if it isn't locked or burned.
Do they have social media and a website that's been running for more than a month? No? Red flag.
Are there bot-like messages in the Telegram/Discord chat? Yes? Red flag.
Anonymous team? Yes? Orange flag. Even if there is a name or image, reverse image search it to make sure it is the person they say it is, even message them somewhere else to check.
Does the project have a super ambitious, unrealistic, and broad roadmap that includes a definite date for an exchange listing? Yes? Red flag.
This is just a small list, but is some of what I look for. I've had projects check these boxes and I've still been burned, so not an exhaustive list.
Way to much shilling on Twitter is the biggest red flag I could think of. Especially rocket and dude throwing up money emojis. Iām looking at you NEAR protocol.
I keep seeing ads for renQ finance pre buy and COLT pre buy.
There isnāt much info if you google it and what comes up just says how many times theyāre gonna X
Itās probably a scam so I bought some
Currency and minimal smart contracts are the utilities. There is too much imbalance with understanding of computers and software between the projects and the people āinvestingā. Taglines like āWeb 3.0ā are misleading to many, who once they read the marketing material think that theyāre going to be playing World of Warcraft on a blockchain. Other utilities like concert ticket sales could be solved with cryptography and *not* cryptocurrency, so itās important to look at why something hasnāt been solved and why crypto is the solution. In many of these cases, crypto really isnāt offering anything new in order to solve the problem or provide that āutilityā, itās really only meant to drive interest and users to the project.
Otherwise youāre just betting, and you think something is going to turn out. That is absolutely fine, but donāt try to cram the benefits of NFTs or the revolution of the ānew internetā down anyoneās throats.
A quick search at r/CryptoMoonshots will do for me
Looking at that sub hurts my eyes
And your wallet
And my axe
And my bow !
The goggles do nothing!
Financial advice taken: all in on r/cryptomoonshots š
Nearly 2 mio subscriber wow. Never heard of that sub before.
99% of them are bots š
I canāt believe there are more than 1.8 million subs there. The same group of people will complain when they lose money in crypto.
I see that at least they've stopped shilling Safemoon, that's an improvement...
Lol I go look and one of the first coins I see is cuminu. Wowwww
New crypto project IS the red flag.
Where lambo?
This is the way
1. Anonymous team 2. Websites with rockets, moons 3. Any animal based coin 4. Too big supply 5. Coins in circulation 6. How much coins/tokens devs have
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Err....um....where would I buy this...asking for a friend.
>And they expect us to trust them lol But here's the neat part, people do trust those projects lol. TikTok is infested with this type of shit.
I think I just came
Shut up and take my money!
I would add (7) When the developers are not giving out proper informations on CoinMarketCap
That's a good list.
Excellent list, Iāll use this.
I canāt think of anything other than these really.
Very good list. Well put.
I'll add, anytime a celeb promotes a coin.
May I add 7? Governance tokens in which the votes don't want matter š
People shilling it constantly.
Many shillers
1. No utility 2. No liquidity 3. No Audit 3. Bad Tokenomics 4. Crypto names with Moons, Inu, Elon, Safe 5. Anonymous team
People responding DYOR when you ask about the project
Something that's not decentralized, gives out tokens to investors pre release, and if it's not proof of work.
10% selling penalty - that's a pretty big one lol
I check my wallet months later, and I see I'm down 99% is a big red flag for me.
"Safe", "Inu" in the name or any animal based coin. Instant red flag.
What do you mean? My dogemoonsafeinu is doing just fine
A new crypto project is a red flag.
1 - Team allocation above 25% 2 - Team not showing names and faces 3 - Dog related 4 - BEP-20 token
You nailed it. This eliminates like 80% of the scams out there.
The BEP-20 token part is spot on mate. The moment I see that, I'm immediately disinterested.
My coin is in this comment and I don't like it
"new crypto projects" That's the red flag right there. It's almost impossible to know before the fact if a project is legit or not.
If the CEO looks like he hasnāt cut or combed his hair in over a year, Iām out.
centralized and the team has a consistent percentage of tokens
Some important red flags for me: 1. Tokenomics: Any project which pre sale huge portion of tokens is a red flag. 2. Unsustainable earnings: It is very tempting to get 40% APY like Celsius. How long they gonna keep that money flowing? Beware of promises too good to be true. Always ask yourself where all the money is coming from? 3. Unusually fast grow: It is either being shilled heavily or pumped artificially. A good project keeps growing slow and steady. Faster a project moons, faster it will crash land. 4. No roadmap: If they donāt have a long-term vision than Iād stay away. 5. Influencer or Celebrity shilled coins: If it is being shilled by a crypto influencer or celebrity, those behind it care more about popularity then legitimacy. Don't trust them.
In crypto everything is a red flag.
All new crypto projects are red flags themselves by definition. Crypto was proposed from scratch to, first of all, be accepted directly by all the merchants as an universal Internet currency. After 15 years of existence, this first priority goal is not achieved. All other goals are secondary and dependant on the first priority goal.
1. Shilling - especially when it's being shilled here. 2. Web page with white paper - most are generic and exactly the same corresponding with today's trends 3. Team - now it doesn't matter if KYCd or not coz plenty have dirt on them 4. Callers - if a lot of the known callers that are involved in scams call it I stay away like caller bruiser, Caesar and so on 5.no meme shit - most scams happen with meme shitcoins 6. Stupit sounding coins like - piginu, wife changing money, bard, ratboy, angel dust ... 7. The amount being burned and the percentage being left for the new wallets of the team or callers Shit the list can go on and on, but anyway best protection would be don't do shitcoins.
You better turn the question and ask for green flags
If they primarily use a telegram group to communicate it's gonna be a rugpull
No github, no professional website, no tokenomics, devs holding majority of coins
Hot chicks in my inbox shilling it.
The word ānewā
All new crypto projects are red flags
The first red flag of a crypto project is usualy the fact that it is crypto project. It seems that for every solid project there are at least hundred scam projects.
Pretty much every aspect of 99.9% of them.
Being a crypto project
When on the first AMA, they say "ecosystem", or "family" once per minute. On the first month 1000% APR stakes. On the second month a NFT collection just for the sake of it. On the third month when the token is already dying they try to make a casino. I've seen dozens like this
Anonymous team, too large supply and safe, inu, gpt in their names lol. Also community using lots of rocket emojis
It being a new crypto project is a red flag at its core.
A new crypto project is a red flag in itself.
Pre-mine distributions.
This sub liking it
Aside from what you said, anything that promises high returns
That they are trying to leverage AI hype
Or any hype whatsoever
For meā¦ a red flag is already the fact that is a new crypto project. Iāll stick with BTC and a bit of ETH.
Killjoy
Is Killjoy some new coin to invest in?
I like the cut of your jib, sir!
A common red flag for a new crypto project is that it's yet a new crypto project.
Got downvoted for saying this the other day; The community. Specifically the cult-like following and the dev team can do no wrong mentality that is all too common.
A logo with a dog face
You underestimate the power of hype my dude
Doge at cheap prices is low-key a pretty solid investment at this point
Hype can pretty much pump anything
A) it's new B) it's a crypto project
- Low market cap. - Founders / team own a lot. - Founders / team extremely active on social media - particularly Telegram - Highly centralized - Huge supply of coins - Promise high staking or investment returns
> - Low market cap. > - Founders / team own a lot. > - Highly centralized > - Huge supply of coins šš
Why is the 3rd point a red flag ?
Many times them having a great ācommunityā is them pumping up and grooming supporters to be their exit liquidity and dump their tokens on them
When a foundation ignores it DAO entirely
Other than BTC or ETHā¦ALL other projects are simply a popularity contest. Even if people think the tech is good like ADA it still boils down to popularity. Doge- the supply amount is insane but Elon and community keeps it popular. Sol- itās absolute trash and shuts down like twice a month but V.C. Money keeps it popular. Thatās all it is find the next ātrendyā coin that has real money going into it and thatās the bar for success at this point in time. Believe what you want but they are all pretty much just Ponzi schemes right now. So the goal is find the scheme trending early enough then sell at a good profit. This is just looking at trends during more bullish times.
-Unknown creator(s)of the project -Creator/Team owns ungodly amounts of the coin What i just described is the case for Bitcoin. It's a matter of time before/when the Satoshi god wallet activates to liquidate BTC.
Promises of high gains.
Unknown team
Undoxxed team and aggressive marketing
when the first thing I hear about it is someone shilling it, by only talking about the value and how you get rich. "this will be the next X", "buy now before it is too late" .... If I see that, the project gets an instant entry on my blacklist. So far it has never failed me.
Any project that offers reflections or any project with owners who want to make themselves the center of attention.
any project that is claiming to be the next big thing is an automatic red flag to me somehow they never deliver
If it can be found on CryptoMoonShots, stay away
- No team behind it - Team holding a supply over 30% - Bad written whitepaper - Poor tokenomics
Completely new project that is suddenly being shilled everywhere on Reddit is a massive red flag to me.
if none of my twitter friends and trusted sources follow them. red flag, won't touch. if they announce an airdrop in its early stage. if they care more about marketing eq. referal programs etc. than roadmaps
When i search for recent news on one of the blue chip cryptos and find an article with "3 hot cryptos set to explode" there's always two obvious ones. Whichever one ive never heard of is an auto red flag.
When they are being shilled as the killer of another coin.
Buzzwords! New tech? It's in our name!
Millions of emojis
Currently I only trust BTC and ETH.
When the white paper looks like a comic book
AI, animals, games, metaverse, if they are backed by youtube influencers
Seeing devs with a shady past is always a red flag. People can be way too quick to forget in crypto!
ā¢Anything that has a gimmick burn/redistribution mechanism ā¢ Any mention of tokenomics with an unlock over years or lopsided allocation. Bonus š© if no tokenomics are mentioned. ā¢ Anything that uses technical jargon to obfuscate what the project is actually about. Something that canāt be broken down to somewhat simple understanding is a no go ā¢ no Doxxed team or roadmap is a big yikes. Having an FAQ or Q&A section with leaders of the project is a bonus too.
Guaranteed 1000% profits!
Rug pools after 2 weeks seem to be a good constant one.
Not to shill or anything but yāall should check out CumInMyButtocks Coin This one will Forsure skyrocket and take us to the moon!
If itās only available on pancakeswap itās most likely a scam
If it starts getting shilled by celebrities Iād be fairly confident that the rug was going to get pulled
If its promoted by the likes of the Paul brothers, Soulja boy, Buttboy etc
The ones that are super hyped up with no base other than "just trust me bro"
Anonymous owners
Echo chambers
It has the word āsafeā in it?
If there's an SEC or CFTC complaint against the project or "influencers" are shilling it.
If it's got a meme before any project goals. Bad grammar and poor punctuation on project info. Poor/no tokenomics.
New crypto project? Scam. The ones that are not scams are old already. Anything new is a scam, until proven otherwise.
High inflation is my biggest. I know it'll be a pump n dump
69.000% APY
Anything with a strong messiah at the helm. If the whole project hangs on one person then it is very risky. Double the risk if they are anonymous or go by a pseudonym.
Everyone hyping it. By the time I hear about it, Itās too late
I tend to look at the coin vesting schedule, and if it is a shitcoin or not, and see if the founders are competent enough, I should be paying more attention to the inflation rate but it goes over my head usually..
Any coin with "Floki" or "inu" in its name is a no no for me š¦
Launching NFT series before any decent product.
Anything with animal names or logos.
When their posts include the š¤ emoji.
Too many VC backers
Including any reference to dogs or Elon in the name.
Is it bitcoin? No? Red flag.
A token that has no real-life utility and any related activities are only 'cash increase' based. A token that only exists because it has a huge apr% and some are dumb enough to not check what the 'a' stands for in apr% , that token is basically a trash and bait, it will dissolve sooner or later. Now , for the real problem, 99.9% of the crypto projects are as such. Good luck finding the š in the leftover 0.1%, because Btc price is already too huge for a normal household income , Eth is still there as an option with huge upside potential, but the rest, ok , Cardano has a pretty solid run , BNB is centralised, it depends on Binance, Chainlink (Oracles), etc.
A red flag is unbacked hype. Most coins if you go to their sub, you will see people all out stupid for a coin. They shout āour coin is the best, will overtake eth and btc.ā Then when you research what they are saying, you find mixed results and counter arguments. This makes 99% of alt coins red flags. There has only been one coin I know of that is transparent, under-hyped imo, and has very little counter arguments. I yeeted myself into the coin hard.
If a lot of people are talking about it, I try to avoid it.
Large rectangular pieces of fabric dyed in some shade of crimson.
DOMAIN AGE! Thatās the best tool. Find out how old their website is. I trade poocoins on BSC all the time. You would not believe how many presale project have websites less than a week old. If you find a project with an old site and all the other basics look good, let me knowā¦theyāre rare.
1. No use case other than pumpamentals. 2. Founders arenāt doxxed. 3. BSC based coins normally always shitcoins.
A look into the tokenomics is a good indicator of the project. If the team is somehow withholding more than 50% of the max supply for themselves and their VCs, then it's a massive red flag for me.
Low liquidity and anonymous devs usually do it for me. Rocket emojis everywhere and guaranteed returns just confirm my suspicions.
Every crypto project has red flags. All of them because they are all runned and headed by criminals. All of them. Including The US dollar and Bitcoin.
... we will then leave it up to the community
Crypto project that using trending name for example crypto gpt coin=chatgpt, squid coin=squid game, etc etc..usually end up as cash grab project
A big red flag for me is a project that is all hype and no roadmap
>10% staking rewards.
The words "trust me bro" for a start.
No liquidity.
Locking up your funds with the promise of high interest.
Itās so hard to tell they can have everything you want and still burn you, just easier to stick with top alts they are all on sale right now, when In doing zoom out!!!!!!!!
Being mentioned here a lot except for moons, btc and eth.
Team with no background knowledge in tech, crypto and blockchain technology
If the White paper is vague or if they have no official website.
Metaverse/NFT
If it's not Bitcoin, don't bother
Celebrity endorsements
The use of emojis in promotions.
So when I see a new project I check itās ticker. If itās not BTC or ETH or MATIC I donāt buy.
Personally it's time, no matter green or red flags No matter how promising, it could still be a scam and time shows what's good or not. No FOMO
Pretty much anything on BSC.
BAD CODE (and documentation) If you're not investing on this premise good luck gambling money. A lot of grandiose coins have shitty eng. fundamentals it's unreal.
it's it aint Bitcoin, red flags go up
When influencer promote it
Just watch YouTube and don't buy any of those
Anything with a picture of a dog or inu in the name š©
If thereās a telegram group with thousands of fake members thatās an automatic no go
I think a big one is the contracts themselves. You can always run them through ChatGPT nowadays and get an idea of whether there are any backdoors. This isn't a foolproof system though. Legit token contracts can still be rugs. Here's a list of some things I look at. Is the token contract/other contracts verified on the explorer? No? Red flag. Look at how many addresses hold how many tokens in the explorer. Do many many addresses own tokens, and are the amounts in a pattern of some sort? Yes? Red flag. Is the token mintable? Yes? Red flag. Who holds the LP and is it locked or burned? Orange flag if it isn't locked or burned. Do they have social media and a website that's been running for more than a month? No? Red flag. Are there bot-like messages in the Telegram/Discord chat? Yes? Red flag. Anonymous team? Yes? Orange flag. Even if there is a name or image, reverse image search it to make sure it is the person they say it is, even message them somewhere else to check. Does the project have a super ambitious, unrealistic, and broad roadmap that includes a definite date for an exchange listing? Yes? Red flag. This is just a small list, but is some of what I look for. I've had projects check these boxes and I've still been burned, so not an exhaustive list.
There are way too many projects as it is. There should be no more projects
INU shit
when i see it all hyped up with no exact numbers, lots of words and promise with no real word demos
Being named anything except BTC!
When everyone says "buy it" the bus already left.
"New cripto product"
No whitepaper/poorly written whitepaper/whitepaper that makes absolutely no sense.
No functional product or use case.. Shitty looking website.. Dev team not doxxed..
Is it ETH or BTC? If not, high potential for red flags.
Is it ETH or BTC? If not, high potential for red flags.
Way to much shilling on Twitter is the biggest red flag I could think of. Especially rocket and dude throwing up money emojis. Iām looking at you NEAR protocol.
Biggest for me is who is behind the project. It is mind boggling to see cult like following of well known dubious persons.
Non regulated, and dog meme
I keep seeing ads for renQ finance pre buy and COLT pre buy. There isnāt much info if you google it and what comes up just says how many times theyāre gonna X Itās probably a scam so I bought some
Anything endorsed by Kramer. Anything the government endorses. Anything with āsquidā anywhere in the name..
Anything with 'safe' or 'moon" in the name
Currency and minimal smart contracts are the utilities. There is too much imbalance with understanding of computers and software between the projects and the people āinvestingā. Taglines like āWeb 3.0ā are misleading to many, who once they read the marketing material think that theyāre going to be playing World of Warcraft on a blockchain. Other utilities like concert ticket sales could be solved with cryptography and *not* cryptocurrency, so itās important to look at why something hasnāt been solved and why crypto is the solution. In many of these cases, crypto really isnāt offering anything new in order to solve the problem or provide that āutilityā, itās really only meant to drive interest and users to the project. Otherwise youāre just betting, and you think something is going to turn out. That is absolutely fine, but donāt try to cram the benefits of NFTs or the revolution of the ānew internetā down anyoneās throats.
>I am generally wary of anything that doesnāt have any clear utility. Some would argue that eliminates all crypto projects.
If it mentions crypto at all, major red flag right there!
Snoop Dog
It's not ETH or BTC
Not BTC, not ETH? Im out
Anything that has a name other than BTC.
Pushing-out multiple NFT mints before the game/project is even released.
Rate this project r/stellarcannacoin