Topic: How can we protect ourselves from scam? - page 6. (Read 5511 times)
Lot of people from this forum are helping in exposing the scam ICOs so all we need to do is check the scam accusation section and the reputed DT member's trust history to protect yourself from the scams in this forum.You also need to increase your knowledge about finding the good projects and fake projects.
In order to reduce the number of scammers in this area, not so much is needed - we need to create transparent and understandable rules for all projects that want make ICO, and prohibit ICO for those projects in which teams are anonymous and have no MVP. This can significantly reduce the amount of scam.
fraud is now widespread, out of the 10 projects that were followed at least there were only 3 truly original projects, it was very difficult to determine which projects were genuine and which fraudulent projects, experience is needed to distinguish between fraudulent projects and good projects
The crypto world is so vast and they are interest from all continents of the world. Some investors / projects came with good intentions to make the world a better place while some to defraud investors and projects founder. Can we have a better way correct scam and lapses?
Scammers are around the forum and just waiting for the next victim,so if you want to prevent this from happening visit this thread for better look on the scammers strategies
https://bitcointalksearch.org/topic/how-to-protect-yourself-from-scammers-3415026
And visit this if you are wanting to invest in ico,because this is how to learn that they are scammers
https://bitcointalksearch.org/topic/what-we-need-to-check-before-investing-in-ico-2896030
Goodluck for your future investing
If we talk about ICO, I have some tips: ask yourself a few question and make a right decision:
Is the website of a high quality?
Is the team for real?
Is the whitepaper professionally written?
Are the ICO’s goals realistic?
Don’t forget about the code
Unfortunately, that does not means give us guarantee that we can avoid the scam ICO. Because everything that you mentioned can deceive us and investors. Is the website of a high quality?
Is the team for real?
Is the whitepaper professionally written?
Are the ICO’s goals realistic?
Don’t forget about the code
The best way to protect ourselves from scams is to stay away from ICO projects. May do Bounty or Airdrop to earn free tokens but shouldn't spend your capital to invest on them.
Of course, we should not be easily tempted by their offer and we have to do some research about the potential and the risk of the project. 
The crypto world is so vast and they are interest from all continents of the world. Some investors / projects came with good intentions to make the world a better place while some to defraud investors and projects founder. Can we have a better way correct scam and lapses?
The more we know about the crypto or project, the more we could avoid being scammed. So, it is important that we do proper and deep research about all aspect of the project before investing in it. Information about the feasibility of the project, the technical and working paper, the people running it, and even community support tell us something about the authenticity of the project.
ICO risky against fraud, if you actually want to remain joined in it then it should be a lot to learn, observe, analyze for true ICO could choose either. If you like far away from investment fraud is on the coin which indeed is good, although it is the way in which we need the capital.
The best way to protect ourselves from scams is to stay away from ICO projects. May do Bounty or Airdrop to earn free tokens but shouldn't spend your capital to invest on them. Instead, let's invest on big top coins
If we talk about ICO, I have some tips: ask yourself a few question and make a right decision:
Is the website of a high quality?
Is the team for real?
Is the whitepaper professionally written?
Are the ICO’s goals realistic?
Don’t forget about the code
Is the website of a high quality?
Is the team for real?
Is the whitepaper professionally written?
Are the ICO’s goals realistic?
Don’t forget about the code
Fraudsters use illiteracy and greed. When there is a constant profit, nobody cares whether it is a fraud or not.
India: Police Bust Bitcoin Ponzi Scheme that Defrauded 8,000 Crypto Investors
https://www.ccn.com/india-police-bust-bitcoin-ponzi-scheme-that-defrauded-8000-crypto-investors/
India: Police Bust Bitcoin Ponzi Scheme that Defrauded 8,000 Crypto Investors
https://www.ccn.com/india-police-bust-bitcoin-ponzi-scheme-that-defrauded-8000-crypto-investors/
You need to learn, try to subscribe to Crypto Telegram Chats to get more information about projects, scams and so on. Anyway if you will join scam - it will be experience.
The best thing is to read the whitepaper, a good and serious project certainly has a clear whitepaper and concept, besides investigating the team on the project is a must because many scam projects only copy from the previous whitepaper.
All you have to do is not to trust easily and verify the project by yourself. A good research will help you determine wether a project is good or not, reviews will also a good help since this is response from the community. Don't trust, verify! Same goes when you are storing your funds, don't put it in a wallet which gives you no full control like exchanges and closed source software. Electrum, Hodler and myetherwallet are one of the open source software that you could verify your funds.
Security is the most important thing. But it is quite difficult to do this.
- In the first place to read white paper.
- See if there are errors on the site.
- Write to the project team.
- Check social networks.
Put in parts and look at the reaction. Keep in touch.
See how much they collected.
- In the first place to read white paper.
- See if there are errors on the site.
- Write to the project team.
- Check social networks.
Put in parts and look at the reaction. Keep in touch.
See how much they collected.
Now-a-days it is very-very difficult to know that which project is scam or not. But if we take hard search about the project's concept or idea, analyzing whitepaper, developers & management team's background and also there activities & followers on social media. Than i think by doing these things we can know much-more about project and then definitely we can reduce the risk to get scammed.
Just be focus everytime in terms of participating or involve with projects ,we can already determined which is legit through reviewing there details and platform. Don't be lazy to look around in order to avoid scams. You can't really put an end to fraud. Now a cheater can wrap a project into a real project. All kinds of information are true. But you can't recognize it. For now, you need to evaluate and study a project yourself. Find the association from the specific details of the project. Then decide whether the project is true and reliable.
I believe knowing more about the space and having more knowledge will keep any one safe from the fraud, because you will be able to know what's obtainable and what's not obtainable
Make sure that you do not click any suspicious link and don’t put your private keys there do not involve scammers who offer to make you lot of money if just invest some cryptos into them
Well it's really hard to detect scams ICO or projects this day because they are wrap nicely that in every details show perfectly. I as bounty hunter for a year, I encounter so many projects ended in scam even their teams are verified by the ICO review site like icobench.
I do believed that icobench do kyc through video call and gathering valid documents. Even there is legit check they can still ended in scam. The best way to prevent from being scam is to verified their team and make sure they are active in showing up in conferences and doing live streaming.
That is, fraudsters are very clever at hiding their falsehood by falsifying the identities of others who are experts. So, if you are caught in a scam, don't be disappointed, just think of it as an experience. So, asking for opinions from more experienced friends will be very useful. I do believed that icobench do kyc through video call and gathering valid documents. Even there is legit check they can still ended in scam. The best way to prevent from being scam is to verified their team and make sure they are active in showing up in conferences and doing live streaming.
Well it's really hard to detect scams ICO or projects this day because they are wrap nicely that in every details show perfectly. I as bounty hunter for a year, I encounter so many projects ended in scam even their teams are verified by the ICO review site like icobench.
I do believed that icobench do kyc through video call and gathering valid documents. Even there is legit check they can still ended in scam. The best way to prevent from being scam is to verified their team and make sure they are active in showing up in conferences and doing live streaming.
I do believed that icobench do kyc through video call and gathering valid documents. Even there is legit check they can still ended in scam. The best way to prevent from being scam is to verified their team and make sure they are active in showing up in conferences and doing live streaming.
You need to learn, try to subscribe to Crypto Telegram Chats to get more information about projects, scams and so on. Anyway if you will join scam - it will be experience.
I think it is definitely necessary to have a type of regulations to avoid so many scams, of course, that would not be the final solution, but the safest thing is that it helps a lot in the simplest scams at least, it is also important to educate investors and teach them to differentiate the different type of deceptions.
Jump to: