avoiding ICO scam and frauds - page 2.

Lock00Live

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Quote from: toygama on June 06, 2018, 04:40:56 PM

Quote from: limmousine on June 02, 2018, 08:54:24 AM

it is very difficult to distinguish the promising ico and ico scam. researching the entire contents of a whitepaper is also not enough to ensure an ico. I am also confused to make sure, maybe we need friends or local community to ensure or decide an ico that we will choose.

Absolutely agree mate, local community helps a lot of choosing a promising ICO as what we already practice we formed a small cell a group of friends helping each other giving input about the crypto world.

Yes, investing in an ICO with a team will make us more successful and bring us to early success. If we are alone we can hardly detect a fraudulent ICO. Take advantage of all the potential for a perfect ICO project.

micko09

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it is very hard to identify the ICO is a scam. Nobody knows if its safe or not, Reviewing the whole content of a whitepaper is not a guarantee to ensure an ICO is legal. Maybe we can check by searching there rates or even the team member before we engage an ICO.

28days_ever

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Quote from: RankerCan on June 02, 2018, 08:20:43 AM

We all are well aware of ICO frauds.

I use the strategy to start with a whitepaper, see team member details and the roadmap.

What strategy you adopt to make sure the ICO is not a scam/fraud?

Nobody is immune from fraud and hackers in this technology. There is no regulation and this is used. Usually you need to analyze more than the road map and the soft cover of the project and the number of participants and the team. But again this does not give a full guarantee that you will not be deceived.

Duzter

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When you wish to be away from ico scams, try to understand as much possible the project team and the way they take forward to the people. There are ico's that doesn't have any Ann thread, but they do direct messages to the public to invest into their ico. Those were traps where newbies easily gets caught. It's our responsibility to stay away from those kind of ico's.

wxa7115

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Quote from: Baoo on June 09, 2018, 11:19:47 PM

Honestly, the scam ICO is one of the biggest issue which is widespread in the field of cryptocurrency, and regrettably, many are easily fooled because they are very greedy, that's why the scammers earn a lot of money and they do not even lose a large proportion of money when making the website, whitepaper .. of the scam ICO.

Furthermore, you can know if the ICO is scam or not, when you have a good knowledge in that field, and if you are professional, you can read the Whitepaper and search for the technical information which helps you to find out the truth of the ICO.
Be careful, I advise every beginner (especially who know the basics) to stay away from investment in ICO, because there is a great possibility that they will lose a big amount of their money. And trust me, knowledge can help you a lot in order to take a shortcut way to the success.

This is sound advice, newbies are not ready to invest in something as risky as icos, the profits we can get are incredible and sometimes it may seem unreal but at the same time very few people take the time to think about what that means and where that money comes from, if you earn a huge amount of money it means that someone somewhere lost money, so most of those that invest in icos need to lose money.

Baoo

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Honestly, the scam ICO is one of the biggest issue which is widespread in the field of cryptocurrency, and regrettably, many are easily fooled because they are very greedy, that's why the scammers earn a lot of money and they do not even lose a large proportion of money when making the website, whitepaper .. of the scam ICO.

Furthermore, you can know if the ICO is scam or not, when you have a good knowledge in that field, and if you are professional, you can read the Whitepaper and search for the technical information which helps you to find out the truth of the ICO.
Be careful, I advise every beginner (especially who know the basics) to stay away from investment in ICO, because there is a great possibility that they will lose a big amount of their money. And trust me, knowledge can help you a lot in order to take a shortcut way to the success.

Mame89

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Quote from: limmousine on June 02, 2018, 08:54:24 AM

it is very difficult to distinguish the promising ico and ico scam. researching the entire contents of a whitepaper is also not enough to ensure an ico. I am also confused to make sure, maybe we need friends or local community to ensure or decide an ico that we will choose.

Yes, my friend what you say we can not distinguish ourselves which ico is a fraud and which is genuine because the scam project already has a mature strategy also to be able to trick someone so they are sure of the project besides that we also really need once the local community may be in the presence of local communities we can exchange opinions and conclude which ico is scam and which ico is potentially ..

xenomorphe1

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You should try to look at EVN. It was a very hyped ICO. If a project promise you great profits, there is a chance that it becomes a scam.
You can't really know when a project is going to transform into a scam. Who would have think that it was going to become a scam?
But human greed is the worst thing.

wxa7115

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Quote from: CopMom on June 02, 2018, 05:27:23 PM

To choose a potential ICO, avoid participating in the fraudulent ICO project, you should see who is managing the ICO project manager, if the manager is known as amazix, yahoo, deadley, cheus, hotachy then the ICO project is very potential, the risk rate is very low. Also be sure to track the tokens sold over time on ICO, to see if the ICO project can reach a soft cap or hard cap.

While good managers try to make a research about the project because they do not want to taint their own reputations at the same time it is a mistake to rely only on them in order to tell if there is something wrong with a project, do your own research even to those projects that have good managers that way you will avoid most scams, I know it is time consuming but if you care about your time and money you will do it.

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Quote from: limmousine on June 02, 2018, 08:54:24 AM

it is very difficult to distinguish the promising ico and ico scam. researching the entire contents of a whitepaper is also not enough to ensure an ico. I am also confused to make sure, maybe we need friends or local community to ensure or decide an ico that we will choose.

Absolutely agree mate, local community helps a lot of choosing a promising ICO as what we already practice we formed a small cell a group of friends helping each other giving input about the crypto world.

cramcram21

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Quote from: RankerCan on June 02, 2018, 08:20:43 AM

We all are well aware of ICO frauds.

I use the strategy to start with a whitepaper, see team member details and the roadmap.

What strategy you adopt to make sure the ICO is not a scam/fraud?

Well that is the only way to determine if they are scam or not read their white paper and road map,
Then search their team member and their team advisory ,
But even if we do that there are times that we could still be scammed because they could use a fake identity .

TobiasVR

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Quote from: RankerCan on June 02, 2018, 08:20:43 AM

We all are well aware of ICO frauds.

I use the strategy to start with a whitepaper, see team member details and the roadmap.

What strategy you adopt to make sure the ICO is not a scam/fraud?

I always use a more selective strategy, including a strategy that looks more detailed and clearer to the ico. can now be decided if before choosing ico must believe if the concept, team and all have a high success rate. so I think this can be used as one way to avoid scam ico and fraud.

dollarneed

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Actually it is too hard to identify that the project is a scam or fraud, however you can do your own research for example checking the team behind that project whether they are real or not, check their social media, LinkedIn account etc. The next step is to analyze the project, is the project will be successful? you can check their whitepaper, asking the community, reading some ratings on the website etc.

sehoon

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Quote from: RankerCan on June 02, 2018, 08:20:43 AM

We all are well aware of ICO frauds.

I use the strategy to start with a whitepaper, see team member details and the roadmap.

What strategy you adopt to make sure the ICO is not a scam/fraud?

I also use the same strategy that you do but in addition, I also ask for experts' advice when it comes to projects. I consider my self as a new member of this cryptocurrency community and I still have a lot to learn. There are also communities in Telegram which will help you to judge whether a project is a scam or not. And some people are doing some ICO review that is available in YouTube.

kenzio2016

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i think right now it's just one in a hundreds ico that scam. the real problem is if the token sale going well and the exchanges price

Pattart

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Quote from: pinoycryptoes on June 03, 2018, 10:45:45 AM

A lot of ICOs are becoming scam after they collected raised money and make a strategy to exit, like making an excuse that they been hacked or error with their system.

Better to avoid this scams and invest your hard earned money on trading.

Actually ico investment is still very profitable. I once bought a token ico with a good project and a cheap price and when it was launched and the coin was listed in exchange the price was several times higher than when you buy while still ico. you just need to be careful in choosing the right ICO. there are many tips to avoid buying scam ICO like looking at roadmap, team formation, etc. you can search and read it

droptableguy2

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Quote from: selline on June 03, 2018, 08:58:51 PM

Avoiding the deceptive ico is sometimes a bit difficult because we must be able to check every part there. team and also company. usually we can read reviews from a site to find out ico is good or not

There are many ways to detect an ICO fraud, we can analyze their website and the community they are operating, a potential ICO they allocate and present their site fully information and logic. Not as cluttered as poor quality phishing scams.

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Quote from: yecats on June 03, 2018, 08:42:44 AM

Quote from: mamesso on June 03, 2018, 03:14:30 AM

I really trust the Amazix team, they have a large investor community. they are very professional in managing an ICO.
why not try it and prove it.

Me too

very much trusted group. And their team are very approachable. I'm also suggesting Amazix bounties to everyone and Join them. You may visit their website for more info about their bounties here https://bounties.biz/ and also join them on their telegram channel https://t.me/amazix_bounties. I also check websites for me as one way to determine if the bounty is scam and also double check white paper and their team one of the factor upon checking bounties.

Very sorry there are new rules related to bounty, they will not accept any more articles and social media campaigns.
this is bad news for bounty hunter.

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Knowing who are the team members can be the best way to know if the ICO is a fraud and if they are composed of scammers.
From the very start, knowing if there's a scammer part of the team that project will be heading to the pitfall.

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Quote from: RankerCan on June 02, 2018, 08:20:43 AM

We all are well aware of ICO frauds.

I use the strategy to start with a whitepaper, see team member details and the roadmap.

What strategy you adopt to make sure the ICO is not a scam/fraud?

more or less almost the same as that. first I see for the tokensale, usually I avoid for ICO with a lot of bonus but by giving certain purchase terms. In fact I had read that Vitalik does not recommend to follow ICO like that. Second there are team members. Their identity must be valid, whether they are experienced in crypto, and most importantly whether the photo and identity are valid. Roadmap and the rest depends on the type of project

Topic: avoiding ICO scam and frauds - page 2. (Read 623 times)