How do I know a scam ICO? | Bitcointalksearch.org

kulitmanggis

member

Activity: 233

Merit: 10

Quote from: Family2930 on February 21, 2018, 05:25:20 PM

Hello There,

ICO is a very good way to earn money easily. But it is very tough to find a good ICO. Because there are many ICO project scamming people. I Wanna invest my little of money in an ICO project but I am not sure which ICO will be good enough.Scam ICO also has a whitepaper, Written a whitepaper is not a big thing to believe them I think. So, Could You please tell me how to know a scam ICO?

it's a bit difficult to determine the ICO is a scam or not because there are some good and very successful ICO and sudden scam, this way does not guarantee to determine the ICO is successful or not by looking at the team, if the team has no experience then it is already ICO it could potentially fail.

salterious

full member

Activity: 258

Merit: 100

The revolutionary Export system/One-click Export

The fact that they are running an ICO is basically a scam right there. 99% of these projects could gain a community and through that create value and themselves grow organically, yet most go the ICO route. It is the easy way out in my opinion, and by that logic most of them are trash and not to be touched.

bratbu

member

Activity: 182

Merit: 11

Quote from: Family2930 on February 21, 2018, 05:25:20 PM

Hello There,

ICO is a very good way to earn money easily. But it is very tough to find a good ICO. Because there are many ICO project scamming people. I Wanna invest my little of money in an ICO project but I am not sure which ICO will be good enough.Scam ICO also has a whitepaper, Written a whitepaper is not a big thing to believe them I think. So, Could You please tell me how to know a scam ICO?

If the profiles of their team is so anonymous morelikely the project would be a scam,but make sure their resources are legit you can easily tell if the project is a scam if the website isnt that created by a professional programmer,or if they dont have legit partmership,if they dont have a good working product/services probably more like a scam,we need to be vigillant so we wont waste our investments to these scam projects.

BCEmporium

legendary

Activity: 1218

Merit: 1000

That's a question that is way too complex for blanket responses. But generally you would want to try to identify if an ICO is using buzzwords without conveying any meaning or if it's actually addressing a problem with a clear solution. Ask the devs a lot of hard hitting questions to check if they know what they are doing or if they are just running a marketing campaign that tries to sell hot air.

InGODweTrast3

full member

Activity: 560

Merit: 101

All attributes such as website, white paper, number of subscribers, design-it is easy to forge! Therefore, the main criterion to which you should pay attention is the reality of the existence of the product they offer, as well as the project team and partners!

chaoscoinz

sr. member

Activity: 1150

Merit: 260

☆Gaget-Pack☆

The best thing that one could do is to thoroughly research the company behind the ICO.
Study the white paper, check out the information that is readily available. Find out any legality issues within your country that may or may not permit you from participating.
As an investor, you should only invest what you can afford to lose. ICO's are a big gamble. Compare other projects with similar goals, and cross reference between them, comparing and contrasting.
Consider the long term benefits of the project. Are the members of said project's team transparent and open, or are they hiding something? If it seems too good to be true, you should probably consider it as such.
Check the market for similar tokens, review their trade history of rises and falls. I know many people are just looking to throw their money at the screen in hopes of become. Lambo owner. Don't be desperate, or naive and make the newbie mistake of buying into anything hoping to get rich quick.
These are just a few common sense approaches to consider before investing. With that said, happy trails, and may the force be with you!

yura_878

full member

Activity: 308

Merit: 100

The Operating System for DAOs

Quote from: Family2930 on February 21, 2018, 05:25:20 PM

Hello There,

ICO is a very good way to earn money easily. But it is very tough to find a good ICO. Because there are many ICO project scamming people. I Wanna invest my little of money in an ICO project but I am not sure which ICO will be good enough.Scam ICO also has a whitepaper, Written a whitepaper is not a big thing to believe them I think. So, Could You please tell me how to know a scam ICO?

The main thing you need to know is the idea of the project and a thorough study of the team, and then the chances of getting scammers will be low.

Brothersav

member

Activity: 182

Merit: 10

Quote from: Family2930 on February 21, 2018, 05:25:20 PM

Hello There,

ICO is a very good way to earn money easily. But it is very tough to find a good ICO. Because there are many ICO project scamming people. I Wanna invest my little of money in an ICO project but I am not sure which ICO will be good enough.Scam ICO also has a whitepaper, Written a whitepaper is not a big thing to believe them I think. So, Could You please tell me how to know a scam ICO?

Its best to research as much as possible. You should check the ICO's team members immediately and research each and everyone one of them. Check their work history, check their social media and see if there's any cross reference to major events, major news sources with the staff members names. Their Telegram (if they have one) should be moderated and up to date. Their white paper needs to look professional. Ive seen some discraceful attemps at white papers. You should check out ETH Dark (ETHD) and their shitty attempt at scamming people. Cross this to Darico.io (This is actually a legit ICO and you can see the difference). You should also trust your gut instinct.

SalmanMJ9

member

Activity: 462

Merit: 12

Well, first ICOs are high risk investment and I wouldn't agree with you calling it an easy way to earn money. It requires a lot of research to find a good project that you can invest it. Personally I look at:
- Who's behind the project and their background (Team)
- Look at the whitepaper and figure what the project delivers (avoid the ones mention stuff like "risk-free")
- The hype and community (make sure they're supporters and know about the project)
- How the project uses the technology and what's the token for

Family2930

jr. member

Activity: 224

Merit: 1

Hello There,

ICO is a very good way to earn money easily. But it is very tough to find a good ICO. Because there are many ICO project scamming people. I Wanna invest my little of money in an ICO project but I am not sure which ICO will be good enough.Scam ICO also has a whitepaper, Written a whitepaper is not a big thing to believe them I think. So, Could You please tell me how to know a scam ICO?

Topic: How do I know a scam ICO? (Read 73 times)