Avoid Being Scammed Again - page 2. | Bitcointalksearch.org

coinuser4000

member

Activity: 128

Merit: 10

Nice summarization.
Everything is not about the money, but about the knowledge. In ICO you can invest only few bucks, but you can multiply your money many times!

SunoCN

newbie

Activity: 27

Merit: 0

Quote from: ArkiCrypto on March 25, 2018, 01:14:03 PM

I've seen many users complaining about being scammed by ICO projects most of them are new investors which probably gonna be the next generation of investors in cryptocurrency industry. I've been here in the cryptocurrency industry for a year and I've invested into different projects and seen how they disappear in the thin air, so to avoid this I want to share to you my criteria on choosing the right ICO or project to invest in.

This is not guaranteed but maybe in some point it may help you atleast to reduce the possibility on getting scammed by ICO's, the list below are my personal criteria how I choose Project to invest with using bitcoin or other cryptocurrency:

Check the Background of the team (If the team didn't give info about each member of the team such as name previous projects, background, etc. There's a possibility that they will just run away with your money if they didn't give info's about their team.)
Read their whitepaper and look if it's really worth to invest with, their concept, etc. (This is important to know what the project is all about.)
Check the Social media accounts, If you find it very interesting presentable. (Join their telegram group in order to be updated.)
Check the Projects professionalism (How they handle users, control frauds, etc.)
Follow their Roadmap and other technical details and see if they meet it on time.
Look for the projects community and see if the community is active.
Look for special proof and validation.
Do your own research about the project such as review about the projects or you can also check the projects ANN thread to see comments who's agree/disagree or the communities idea about the project because ANN threads is like an open forum where you can ask, give insights, etc.

This topic related articles may help you feel free to check:
https://www.entrepreneur.com/article/306563
http://strategiccoin.com/3-ways-to-identify-an-ico-scam/
https://cryptona.co/valuable-tips-to-avoid-a-ico-scam/
https://blockgeeks.com/how-not-to-be-scammed-by-a-initial-coin-offering/
https://medium.com/@99cryptoman/how-to-avoid-scammers-when-investing-in-ico-489cfadcb0f6
https://www.cryptocompare.com/coins/guides/how-to-avoid-scam-icos/

Edit:
I've added this article links about different scams and how did they work so you have idea what are the different scams strategies so you can easily spot and avoid them:

https://steemit.com/cryptocurrency/@veeev/scamsintheworldofcryptocurrency-rzd5dwo060
https://techcrunch.com/2017/12/07/6-red-flags-of-an-ico-scam/
https://blockonomi.com/exit-scam/
https://coinsutra.com/cryptocurrency-scams/
https://www.makeuseof.com/tag/common-cryptocurrency-scams/
https://themerkle.com/top-3-types-of-bitcoin-scams/
https://www.finder.com/ph/bitcoin-scams

NOTE: Investment is one of the riskiest way to earn money. Invest only what you can afford to lose, in investment there's only two possible outcome it's either you will earn or you will learn. Learn from your mistakes.

Just like what I've said this steps are my personal steps on choosing ICO/Projects in where I'm going to invest in. This may not help you but I hope you'll learn at least a little in my little sharing. Have great day every one, ciao.

PS. If you have something to share in order to avoid scam or any topic related feel free to share so everyone will learn from us.

Thank you for a great topic, It can help people who investing in ICO a lot. I just make some bonus:

- Check the Background of the team: from LinkedIn, Google, do they have high experience in cryptocurrency, blockchain,... How about their last project going? Why did they abandon it?
- Check the Social media accounts: is it new? do they post any important information of the project growing there?

Hope you will choose a good ICO and make some profit.

Danisababy

newbie

Activity: 139

Merit: 0

Yes this is very informative. I am also one of those who experienced being scammed by ICOs, and I have learned my lesson. Yes, it is indeed helpful for us to check everything about the ICO before investing in it and joining its bounty campaigns. Each and everyone of us must be very keenful in choosing which ICO to invest or join.

PurpleNights

newbie

Activity: 112

Merit: 0

It's almost becoming normal to hear people cry of scam these days, and it's become tiring. I really do wish there's something urgent and effective that can be done towards preventing these scammers from carrying out their job. I would advise that people be weary of the sites and airdrops or bounties they involve themselves in. Be careful of the ads you allow on your browser too, you can never be too sure. Also, never share your personal data with anyone you meet over the internet or someone you do not trust.

blazsqd

full member

Activity: 462

Merit: 100

This post is very helpful for all the prize hunters as well as the investors. we all know that engaging in crypto is very risky and this is a great way to give us enlightenment about a possible possibility. I will try to be more selective and aware, then not easy to believe in the network especially when you do not know who the maker is.

Feranhum

newbie

Activity: 40

Merit: 0

this is data that is required by all ICO clients particularly for novices like me, so the amateur can recognize which one is scamed and which is open. indeed I say much obliged.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

Quote from: jerrison on July 17, 2018, 04:18:53 PM

being scammed is as a result of a little bit of information one has not or is yet to possess as it is what equips one against the schemes of the hackers these days.

Just gaining information won't keep you safe. Sometimes just using common sense will help you doge a huge potential scam. Stupidity is what leads to people getting scammed or hacked. Just be careful about what you do and think twice before you attempt to do something.

jerrison

full member

Activity: 1442

Merit: 106

being scammed is as a result of a little bit of information one has not or is yet to possess as it is what equips one against the schemes of the hackers these days.

$crypto$

legendary

Activity: 2394

Merit: 1049

Smart is not enough, there must be skills

Balorck

newbie

Activity: 105

Merit: 0

I agree that it is very difficult now not to run into scams ( every day more and more .

SplendidHunter

jr. member

Activity: 196

Merit: 1

This post is very useful, you explained very well and helps me too. I joined and invested in some Ico, and my goal is to make a profit, but part of this ICO has turned into fraud, not success. It looks like spending money, but you need to move on and invest again. But this time I'm doing some research on the background.

cerberus5424

member

Activity: 350

Merit: 10

This is a great plan to action if you want to become an investor or just take part in a bounty company but can not decide how to choose a project. But I should note that sometimes, even if you carefully check the project, as described here, you can still stumble upon scams, but this action plan will reduce your risk to a minimum.

deus030518

jr. member

Activity: 224

Merit: 1

In essence a person needs to learn self regulation as this industry is not centralized and no entities that are regulating potential projects that you would want to invest or participate into. Even in the stock exchange market there is only a certain degree of regulation as investors can still lose money.

tonyosa

newbie

Activity: 182

Merit: 0

It is very common these day for project to make outrageous claims that they have raised some million to create a sense of importance and thus lure investors, SO I will add that one should also check their contract address to see their funds received or claimed to have received.The nature of transaction on the account can tell a lot about the owners.

Shame_Game

member

Activity: 185

Merit: 10

Any ICO always has a risk of scam. The only, on my view, an effective way to struggle with scam - write here on forum about such cases. And perhaps now is not the best time to participate in ICO!

lubah

full member

Activity: 360

Merit: 100

Quote from: ArkiCrypto on March 25, 2018, 01:14:03 PM

I've seen many users complaining about being scammed by ICO projects most of them are new investors which probably gonna be the next generation of investors in cryptocurrency industry. I've been here in the cryptocurrency industry for a year and I've invested into different projects and seen how they disappear in the thin air, so to avoid this I want to share to you my criteria on choosing the right ICO or project to invest in.

This is not guaranteed but maybe in some point it may help you atleast to reduce the possibility on getting scammed by ICO's, the list below are my personal criteria how I choose Project to invest with using bitcoin or other cryptocurrency:

Check the Background of the team (If the team didn't give info about each member of the team such as name previous projects, background, etc. There's a possibility that they will just run away with your money if they didn't give info's about their team.)
Read their whitepaper and look if it's really worth to invest with, their concept, etc. (This is important to know what the project is all about.)
Check the Social media accounts, If you find it very interesting presentable. (Join their telegram group in order to be updated.)
Check the Projects professionalism (How they handle users, control frauds, etc.)
Follow their Roadmap and other technical details and see if they meet it on time.
Look for the projects community and see if the community is active.
Look for special proof and validation.
Do your own research about the project such as review about the projects or you can also check the projects ANN thread to see comments who's agree/disagree or the communities idea about the project because ANN threads is like an open forum where you can ask, give insights, etc.

This topic related articles may help you feel free to check:
https://www.entrepreneur.com/article/306563
http://strategiccoin.com/3-ways-to-identify-an-ico-scam/
https://cryptona.co/valuable-tips-to-avoid-a-ico-scam/
https://blockgeeks.com/how-not-to-be-scammed-by-a-initial-coin-offering/
https://medium.com/@99cryptoman/how-to-avoid-scammers-when-investing-in-ico-489cfadcb0f6
https://www.cryptocompare.com/coins/guides/how-to-avoid-scam-icos/

Edit:
I've added this article links about different scams and how did they work so you have idea what are the different scams strategies so you can easily spot and avoid them:

https://steemit.com/cryptocurrency/@veeev/scamsintheworldofcryptocurrency-rzd5dwo060
https://techcrunch.com/2017/12/07/6-red-flags-of-an-ico-scam/
https://blockonomi.com/exit-scam/
https://coinsutra.com/cryptocurrency-scams/
https://www.makeuseof.com/tag/common-cryptocurrency-scams/
https://themerkle.com/top-3-types-of-bitcoin-scams/
https://www.finder.com/ph/bitcoin-scams

NOTE: Investment is one of the riskiest way to earn money. Invest only what you can afford to lose, in investment there's only two possible outcome it's either you will earn or you will learn. Learn from your mistakes.

Just like what I've said this steps are my personal steps on choosing ICO/Projects in where I'm going to invest in. This may not help you but I hope you'll learn at least a little in my little sharing. Have great day every one, ciao.

PS. If you have something to share in order to avoid scam or any topic related feel free to share so everyone will learn from us.

Very informative article you turned out. It will take a lot of time to study it. I agree with you that there are a lot of scammers and each time they mask their scams, under an interesting startup, which we call ICO.

hieu1418

newbie

Activity: 35

Merit: 0

A few years ago I was willing to contribute to translation project and when I came across a certain project, I applied for translation program. Later I spent almost 6 hours to complete the translation of their announcement topic along with the graphic design of new language topic. Within a month I realized that I did a mistake by not doing enough research before applying because that project was recognized as a scam and everyone lost their money including me (as I lost my worthless bounty rewards).

btctalk123

full member

Activity: 274

Merit: 100

Quote from: freakdust123 on June 15, 2018, 09:30:40 AM

Nice statements bro and well delivered. for avoiding not being scammed is to be careful everytime.

Security in the internet and of course if you're using crypto wallets it's very important. You must be very patient and careful saving your password and keys.

Rhaizan

full member

Activity: 518

Merit: 100

Quote from: @prashant on July 10, 2018, 07:29:40 AM

There are plenty of article and information on scammer but still new user become victims of it because of their greed,and generally low rank bounty participant help them promote scam project as they are blinded by offered crypto currency and generally new holder become victims of phishing site and give their private key and then blame others. So stop going towards free money as there is nothing free.

Now a days it's really hard to find a free money and if you will focus on free for sure you will always be victim by scam, just focus on how to earn a real money not just a free, remember it's better to have a money with work hard . Don't be greedy just because of free money.

@prashant

hero member

Activity: 910

Merit: 505

There are plenty of article and information on scammer but still new user become victims of it because of their greed,and generally low rank bounty participant help them promote scam project as they are blinded by offered crypto currency and generally new holder become victims of phishing site and give their private key and then blame others. So stop going towards free money as there is nothing free.

Topic: Avoid Being Scammed Again - page 2. (Read 1647 times)