The 3 Part Framework For Crypto Beginners to Research Projects And Avoid Buying Scams — Part 2/3

#5 Check the Team

Non-Anon Team:

Check all their socials to see if they:

• are real people (fake accounts = scams)
• have experience in a related field or project

Do they look like people who could make this project happen?

Pseudonymous:

Do they have a reputation already and aren’t completely newt the space?

Are they endorsed by any reputable people, backers or partners?

#6 Check the Backers & Partners

Check if they:

• are real
• have real partnerships (scams often fake them)
• have a good reputation or
• are on the scammy side (Spray & Pray VCs, Shillfluencers or Scammers)

Good examples: a16z, Pantera, Multicoin Capital.

Bad examples: MoonWhale Ventures, Master Ventures, Ran Neuner.

#7 Check the Whitepaper

If you have time, read the whole Whitepaper.

If not, read at least the abstract and conclusion.

Understand the project’s why, vision and goals.

Red Flags:

• many grammar mistakes & buzzwords
• no clear structure & sentences incoherent
• no use case (i.e. much talk but no substance about what they actually do)
• Plagiarism (popular with low effort scam coins)

#8 Check the community (i.e. Social Media)

Most activity happens on Twitter, Telegram and Discord. Focus on them.

On Twitter, check the:

1. followers
2. engagement & comments on their posts
3. activity of the account, how long it´s been active & who follows it

Look for Bot activity or fake followers. Tools like @Botometer help with this.

On Discord & Telegram, check if:

• the community is active and thriving
• the team is engaging with the community and answering questions
• it feels welcoming and helpful, or toxic and simply plain ass?

The right community does the best marketing.

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