avoiding ICO scam and frauds - page 4.

Glory90

full member

Activity: 392

Merit: 101

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?

my strategy is to verify the truth about their team, advisors, and project partners

team: usually, the scammers do not want to show their true identity, I'll check about team information such as Linkedin, twitter, and so on
and and check about their seriousness in promoting the project, usually serious teams will participate in public events such as Blockchain conferences
advisors: verify their claims about project advisors, eg the project claims that their project advisor is John McAfee then I will ask the truth about it on John McAfee's official twitter
partners: verify their claims about project partners, for example, the project claims that they have partnered with Bancor, so I will verify it by asking the truth to Bancor through official contact

ymirymir

full member

Activity: 462

Merit: 100

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?

Honestly, it is really difficult to distinguish whether an ICO is a scam or not. Even if you check the white paper, or even check the team's profile, some ICOs make excuses to avoid delivering their project after gathering funds.

Gypat

newbie

Activity: 112

Merit: 0

Scammers are such that they plan and try to think ahead of everyone and so it is very difficult to identify a scam ICO. In one way or the other, we may a day fall victim to such people but we can protect ourselves with vigilance and a thorough research into the project focusing more on the team members

riaruhs09

member

Activity: 184

Merit: 10

yes I also do that, look in detail white papers, team members and road maps. but here I also usually do predictions about community feedback about the project because it will largely determine the future of the project.

RankerCan

member

Activity: 148

Merit: 11

Based on what is posted on this thread so far. I would give marks to following ( 1 is minimum and 10 is maximum)

Quote

Whitepaper - 6
Team - 7
Community - 9
Information of website - 7

abanansah

member

Activity: 328

Merit: 10

www.daxico.com

I go beyond whitepaper and check their ICO ratings that if it has verify the team members. A verified team member are unlikely to scam or run away. Apart from there, If I check the community management, if there is a consistent updates on team work.

CopMom

member

Activity: 336

Merit: 10

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.

nelmari

sr. member

Activity: 504

Merit: 250

I check the website if there is something wrong with their ongoing ICO as well and sometimes if the amount is too good to be true then there is a hige possibilitybit is a scam.

binarhingar

newbie

Activity: 140

Merit: 0

sometimes ico scam is the same as ico that is not a scam, until now i have not been able to distinguish it, start from white paper team or se detail detailing in white paper. we need friends to exchange thoughts, we here have bounty hunter grub and this is where we often exchange thoughts and exchange links bounty.

Tankdestroyer

full member

Activity: 476

Merit: 107

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

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

I also do strategies mentioned by others to make sure an ICO is not a scam/fraud but data gathered from researching is not enough for me to decide if an ICO is scam or not. Often times, I observe telegram group and how team does their public relations, and after observing for a while, I use my gut feeling to decide if an ICO is scam or not, or if I will invest onto it or move on.

Swenna

full member

Activity: 364

Merit: 106

Nowadays, you cannot just rely on the contents of the whitepaper anymore. Even documents can be falsify now. Also, you'll need a lot of time to analyse an ICO's whitepaper and even that has no assurance of it being legitimate. Just like what the others have mentioned, I tend to look at the team members behind the project, if their expertise and fields are accurate to what their project is and they have already established a good name or has previous projects that have taken part of, then they are legit. In case they are all newbs and just had their first project, look at the advisers and research about their credibility and previous works, too. Sometimes, expert investors just follow their gut feeling, but I highly don't recommend this as most of this investors had already had years of playing in the investment world and had gain enough experience to trust their own intuitions.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

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?

In my opinion that should be the minimum necessary to invest in an ico, but most people do not even bother to do that much which is one of the reasons of why we see so many people getting scammed all the time in the forum, people only care about getting profits and in their search for profits they ignore all the warning sings that a coin is not what it looks like.

Mihaylovic

sr. member

Activity: 910

Merit: 255

you can not understand it by reading whitepaper easily. the best way is to check the team and advisors. if they are known people and has a strong background and experience you can trust in project, if there is noone known it may possibly be a scam.

Katabit

member

Activity: 203

Merit: 11

ENTRY cryptocurrency

Scammers very often hide their faces. They also forge photographs, white paper, white paper. They provide false data on the collection of funds on the presale (it is usually indicated that the project has already gained an impressive amount). Their site is usually made very simply, they do not go to direct contact (again, to save incognito), etc. There are a lot of information about this in the forum.

pey

sr. member

Activity: 546

Merit: 251

Free Crypto in Stake.com Telegram t.me/StakeCasino

I have no strategy because it is not important what kind of strategy you have for ICOs that are actually not investment, believe me you just support '''foundations'' financially, that is not investment.

allahabadi

full member

Activity: 952

Merit: 166

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?

Your startegy is something that is basic.

I look at listing on ICODROPS, also videos of team AMA or conferences. Video review by Ian Balina or OHM or TGO also helps. Roadmap and WP are mostly word jargon, so no use wasting time there...

kharismac999

sr. member

Activity: 656

Merit: 261

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?

To avoid ICO scam, I chose an ICO that gets a good rating on some ICO Rating Portal like icobench, icotracker, tokenmarket etc. Also, see from partnership and media publication.
It's just my opinion. CMIIW

imperatron

sr. member

Activity: 459

Merit: 250

It is very hard to avoid all ICO scams and frauds, because there are always people and projects that look very legit, but in the end they are just running away with your money. You should do a lot of research about the people behind the project before you invest into ICOs.

MoonJeina

sr. member

Activity: 652

Merit: 250

Make winning bets on sports with Sportsbet.io!

Is going through white paper that easy ? White paper is such a long document . We have to participate so many bounties at same time for social media , telegram etc . So is is a very good way and time efficient way ? Because for a naive user , going trough white paper will also not help to recognize the project as a scam or a genuine project . we just have to discuss it with the old players to authenticate the project .

Oceat

sr. member

Activity: 2506

Merit: 368

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.

You don't need any friends for any promising ICO, it's just that most of the ICO manager or the team are taken control by their greediness and doesn't want to continue what they have started. That's why it is good to look for a reputable team that has worked before and has already a project that is being done and it is less risky compared to a new group of team who is more riskier sometimes.

Topic: avoiding ICO scam and frauds - page 4. (Read 623 times)