There is always risk in the cryptocurrency market, but if you are knowledgeable and carefully investigate the market you can keep the risk to a minimum.
Investigate the development team, their products, the team's media and telegram sites.
Don't believe anyone's promises of profits, make your own judgement.
Topic: How do you make sure a projects funds are safe? - page 4. (Read 929 times)
How do you make sure a projects funds are safe?
How I am sure?Honestly, I will be sure enough of a new project if:
- It has been listed on a middle-top exchange and has good volume and also a market cap.
- There is a certain and significant project development and progress by the team, real-time with professional and also reachable plans.
But, if the project still doesn't list in any exchanges, it means that it is still 50:50
Interesting.
So to summarize the major points, what investors like to see are:
*Roadmap and roadmap completion
*Wallet addresses
*Information on team members and activity on social media
Minor points are:
*Team competency
*Verification by bounty managers or certification services
What I find interesting is that almost no one mentions any sort of governmental or institutional regulation.
So to summarize the major points, what investors like to see are:
*Roadmap and roadmap completion
*Wallet addresses
*Information on team members and activity on social media
Minor points are:
*Team competency
*Verification by bounty managers or certification services
What I find interesting is that almost no one mentions any sort of governmental or institutional regulation.
funding project doesn't guarantee that is safe to invest in crypto it needs alot of research starting from bounty manager that manage the project. The website of project and the people behind are true to its details roadmap and the numbers of holders of those project that can track to their wallet. The numbers of the community by the social media like telegram, twitter, facebook that tells the movement and progress of the project are all good sign of good project.
To verify a certain project you need to learn about the project as a whole.
You should first learn about the development team, if they are professional and reputable then you should learn about their products, media sites, etc.
This can help you reduce the risk when investing in a certain project.
You should first learn about the development team, if they are professional and reputable then you should learn about their products, media sites, etc.
This can help you reduce the risk when investing in a certain project.
I must admit that it's not easy to make sure about a project that it isn't scam. Before giving a project a chance, I always do a good and detailed research about it. It's really important for me to make a clear decision. Then, I do what I want to do if I start trusting it. As there are many scam projects in the market, it's not easy to give credit to a project easily.
As long as the team didn’t own much supply of the token, I’m confident that the funds are safe beside the money you invested from them will be used for them to grow more. There’s no assurance but if you’re into a good project, then it’s worth the risk for sure.
Have some standard list every time you invest.
1. Look for the team, their history and background.
2. Know their plan and future developments, roadmap is very helpful.
3. Know the product they are offering in the market before you invest.
4. Accept the risk, and don’t expect too much.
Have some standard list every time you invest.
1. Look for the team, their history and background.
2. Know their plan and future developments, roadmap is very helpful.
3. Know the product they are offering in the market before you invest.
4. Accept the risk, and don’t expect too much.
How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
Well, knowing what the future holds can be really difficult. But I think the important thing to do is verify that the team behind the project are who they are claiming to be. It will be easier for a team to pull off a scam if they are not using their true identity, because when they take off, there will be no way to find them. But, if the team are really who they claim to be, and you have checked their social profiles and confirmed that they are really who they are claiming to be, then it will be hard for them to do such a thing, because they now know that people knows who they are and they will be easily found if they should commit such act. What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
there is no guarantee that it is safe to invest in crypto, but there is an early stage that I often see in auditing a project
1. I visited wen and looked for the community from tele to we chat maybe because with these 2 it can be seen the seriousness of the dev in making the project
2. see what their wallet is and how many hoders of their tokens are there
3. looking for CEO and team background,
4. rodamap
1. I visited wen and looked for the community from tele to we chat maybe because with these 2 it can be seen the seriousness of the dev in making the project
2. see what their wallet is and how many hoders of their tokens are there
3. looking for CEO and team background,
4. rodamap
All forms can be checked and detected in time except for the changed smart contract. The rug pugglet examples on polygon make everyone shudder. Not everyone has the knowledge to know that. It's too difficult for me because my profession is different. Most of the time I check projects intuitively and keep a close eye on their moves!
from their smart contract address, usually the developer keeps the funds from the token sale there. although not for a long time, but we can see how much money they actually raise. and how do we see whether the funds are used for development or not, that's easy. we only need to look at the progress, if the development progress is good then the funds are used according to what was planned.
Legit developers, the trusted team behind it, and the active community are my basis to know if my funds are safe for an ICO project. I also prefer a project with a concrete plan so I wouldn't have regrets in the future. I always check their legitimacy because it's too important that we'll be skeptical in releasing funds especially now that scammers are everywhere.
Hey everyone,
How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
First i would check the whitepaper and look for the part with the token allocation and token vesting schedule. In the majority of cases the team of the projects allocates around 10-20% for themself, if they are keeping more tokens for themself than i would be cautious already, also look out for allocations like "reserve" or stuff like that because that can basically just be another word for "team tokens". If they have a token allocation like "reserve" make sure that it is clearly mentioned how the funds of those allocation are spent and when they are unlocked. Regarding unlock of tokens: make sure that the tokem of the team members are fully locked for at least 6 months (most projects have 1 year full lock). After that a certain percentage gets unlocked every months or every quarter. That way you can at least be sure that the team will not dump their token on day 1.
...
this is something that is completely beyond our control...investor funds that go into the developer's wallet of course are already in their hands, it's similar to you sending your token to someone else's wallet of course it's completely under that person's control. This is why it is highly recommended that you invest in crypto with money that you don't really need, because the possibility of being deceived by the new project is very high.
Hey everyone,
How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
having a certified and trustworthy team behind of the projects can assure you that they will not run after all. So i suggest if your buying a coin and making investment make sure to make research first and seek for specific information, because that's the most important to determine the project if it has genuine team behind or not, wherein don't just fell on what others saying, make you own way to figure it out because no one will do that for you just to avoid scam and etc How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
Usually I will first look at the background of the team and their social media, if there is anything suspicious I will not want to invest in the project. As for verifying that funds will be safe it may be a good idea to invest in an IDO, IEO or IFO held on a platform that already has trust in the crypto community, although there is no guarantee that the investment will always be profitable.
For me my reference was go to there Website and try to search their groups if they are truly Exist. And make sure that they started already their projects and if they really legit.
That's not even a guaranty they can still run away with your money and left the project undeveloped, if you want to be sure that you are investing in the right project, then wait for the project to get in the market, you may not be an early bird of the project but at least you can be sure that the project is on the market, don't worry there's a dump when it hit the market for the first time, so you can buy from there.
~
All the projects? Thing is there is not much indicator to it actually. That is why people still encounter these random projects doing their exit scams after the either ICO, IEO or whatever coin offering you can think of finished their stuffs.
It is just mostly lies on how much you really done your background check on the devs behind the project. Might seem generic to say, but all there is to it.
Hey everyone,
How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
in my opinion there are several ways to make the funds collected from a cryptocurrency project safe, they can at least make deals with several people and store wallet access keys in different people that no one knows about but this way there is no guarantee of security, all of them still have the risk that funds are lost when the developer takes the money away.How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.
What are you looking for to verify that they won't run away with the cash?
Any ideas on how a project can build trust with the community on this topic?
What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?
When it comes to safety of funds then you are particularly talking some middleman or escrow with those funds been accumulated but its not an assurance that those funds would still be safe considering that escrows
could still ran off on whats been funded or accumulate on that particular sale.
Its actually depending on developers or teams mind because majority of projects do make out their sale and they are the ones who would hold up those funds on their own wallet addresses.
You cant determine earlier if those people would end up on running away with those money or not and this is why in depth research is a must.
However, most crowdsourcing project don't have escrow of the money they collected.
You are just trusting that the team will do their job so your investments will not be put to waste.
So if you are buying certain coins or tokens with your hard-earned money, better do your own due diligence.
Because no one can help you recover your funds, once the team decided to abandon the project. And that's the sad reality.
Look for actual developments if they are indeed fulfilling their timeline. If they are only talks no tangible results, doubt their capability of making things happen.
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