Since $NOT started trading on major exchanges, many projects have claimed to be the "next Notcoin." However, few have lived up to the hype. Here are six easy-to-spot red flags to help you avoid scam tap-to-earn projects:
1. Earning In-Game Millions/Billions (Scam Potential: 7/10)
Be cautious of projects that let you earn millions or billions of in-game tokens easily in the early days. This often indicates a potential scam.
2. Upfront Payment Required (Scam Potential: 8.9/10)
Legitimate projects like $ NOT and $DOGS never asked for payment. If a project requires you to invest at any point during or after the mining phase, it's likely a scam. Only those who pay might benefit, if anyone does at all.
3. Suspicious "Season 2" Rollouts (Scam Potential: 9/10)
Be wary of projects launching a "Season 2" before listing their token. Examples like $HMSTR , $CATS, and X Empire have used this tactic to extract more money and attention from their communities without adding real value.
4. Too Many Daily Tasks (Scam Potential: 8/10)
Genuine projects don't rely on excessive tasks to engage users. If a project bombards you with daily tasks, it's likely just wasting your time and effort.
5. Excessive Token Supply (Scam Potential: 6.5/10)
An unusually large token supply often aims to devalue your earnings. Be cautious of projects promising limitless tokens – you'll likely end up with nothing of real value.
6. Vesting (Scam Potential: 8/10)
While vesting can sound legitimate, it's often a strategy to withhold your rewards indefinitely. Be alert if a project is holding your allocation hostage under the guise of "vesting." Projects like Pixelverse, HMSTR, and $CAT have used this tactic.
Conclusion
Not all tap-to-earn projects are scams, but if you spot at least three of these red flags, it's best to avoid the project. Don't let scammers waste your time and efforts.
Currently, $BLUM stands out as a promising and fair project. Stay vigilant, protect yourself, and choose projects that respect your time and effort. #USRateCutExpected #10MTradersLeague #MemeCoinTrending #ToncoinSurge #BTCUptober