Topic: How to avoid ICO scam (Read 7790 times)
I continue to regularly invest part of my money to participate in various promising ICOs. Despite all the benefits of this market for investors, you need to remember a large number of scammers. Therefore, I recommend carefully studying the information about the project developers, rating and proposed technologies.
Unfortunately, there are too many scam projects today, so it is rather difficult to determine whether the project is scam or not. I think the most important criteria are the team members and the idea of the project.
It's so difficult to identify a scam projects because they always look like legit ICO all ICOs uses the same tactics but one thing is that before you invest do some work online about the team behind the project look for them on the social medias platforms to know whether they are real people or not.
He most effective way to curb an to totally avoid scam ICO, is by creating an enabling environment where they are being regulated. I know of some ICOs that are registered with the government of the jurisdiction they are operating from. Such as what i saw happened in Thailand, where there are projects said to be registered and authorized by the government to operate, whereas there are some not allowed.
Check their website, because some fraud projects are so lazy that they are simply copy pasting information from other projects. Moreover, you need to read their whitepaper and research the team members and developers to be sure that the project is legit.
I just read all about that ico and ask some expert opinion about that ico and sometimes i see the ratting of that project, when i think this ico there is an oddity i will stay away and forgot about that ico and find another one.
according to my understanding, how to avoid an ICO scam is to pay attention to the Product Team or Project and the development team, because the product and the development team must be clear.
Besides paying attention to the team and products, you also have to consider people's opinions about ICO, if there are many who like it, the possibility of ICO is good because many people have monitored and finally chosen ICO for investment. . we cannot hold on to our personal opinions, we must also consider the opinions of others.but i think it's not important. bcz some of them just noob in crypto space, their opinions are highly possible to wrong
Basically, I would advice an extensive research on the ICO. A lot of people narrow their research down to just their social media platforms and don't take time to investigate the team behind the project, road map and if the project solves any problem. Even if it does, you have to ask yourself, if the project is achievable
I mean, is there an exact list of rules that could guarantee that someone who follows them will surely not become a victim of another ICO scam. Of course there are obvious rules like event participation, reputation of team members among ather prifessionals, approve by well-known advisors. But potential scammers also know all these criteria and know what to fake exactly.
Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers? Not government laws way which also good for the market in my opinion.
Would be appreciate a link to an old thread, perhaps I just didn't find it.
UPD Best Advices:
Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers? Not government laws way which also good for the market in my opinion.
Would be appreciate a link to an old thread, perhaps I just didn't find it.
UPD Best Advices:
- learn about previous ICO projects, select viable ones and participate similar ICOs
- invest in an ICO with a working prototype only
I am fully convinced that despite the obvious crisis in the crypto market today, you can find promising and profitable ICOs if you wish. But before investing in ICO, a thorough analysis is needed - study the development team, proposed technologies and further development strategy.
To research the project and to know everything about it. About the team members, about the devs and so on. I would also look into the telegram community and ask some questions. If admins would be able to answer them, the project is legit.
according to my understanding, how to avoid an ICO scam is to pay attention to the Product Team or Project and the development team, because the product and the development team must be clear.
Its true. Developers team is essential in the project. Many ICOs become scam because they dont have a solid team. Beside developers team, we should research on their whitepaper and roadmap. Its its looks rational, i think thats project not a scam
There are no guarantees regarding any of the ICO. When already wants to enter therein means risks faced. This is what is going to be an important role for analysis and a good capability in crypto. because with it then analyzes will be easier even though it also can't be said exactly.
You have to be really observable and aware, you will easily knew it when it is scam, you have to be 90 percent sure that it was not a scam before joining or investing in an ICO
ICO fraud now is indeed very much and this makes a lot of people lose their time because they promote fraud projects. And to avoid fraudulent projects we have to do research. We can start by checking social media accounts, usually, their team is active. And you also have to make sure that the token sales have reached Soft Cap. Then you have to look at the products they offer.
When it comes to avoiding scam in ICO space, been realistic and be cautious is your first line of defence. If an ICO is developing impossible product and making promises that do not solve any problem then, you should avoid such ICO!
simple, dont invest in ico, my strategy so far was to invest if the coin is already been listed or if the MVP is already been working
Hi guys! How do you differ scam projects? Recently, for every second project, someone writes a "scam". At the same time, a bunch of popular projects like Savedroid collect millions and disappear.
You can make a checklist for yourself and check the project on it.E. g.;
Team (their linkedin, facebook profiles)
Economic model
Hardcap
Website
Github code
MVP
and so on
Or just check experts' reviews
Or cryptodiffer
If the individual estimates fall out - it's a reason to think.
Hi guys! How do you differ scam projects? Recently, for every second project, someone writes a "scam". At the same time, a bunch of popular projects like Savedroid collect millions and disappear.
You can make a checklist for yourself and check the project on it.E. g.;
Team (their linkedin, facebook profiles)
Economic model
Hardcap
Website
Github code
MVP
and so on
Or just check experts' reviews
Hi guys! How do you differ scam projects? Recently, for every second project, someone writes a "scam". At the same time, a bunch of popular projects like Savedroid collect millions and disappear.
You can make a checklist for yourself and check the project on it.E. g.;
Team (their linkedin, facebook profiles)
Economic model
Hardcap
Website
Github code
MVP
and so on
Or just check experts' reviews
Hi guys! How do you differ scam projects? Recently, for every second project, someone writes a "scam". At the same time, a bunch of popular projects like Savedroid collect millions and disappear.
You can make a checklist for yourself and check the project on it.E. g.;
Team (their linkedin, facebook profiles)
Economic model
Hardcap
Website
Github code
MVP
and so on
Or just check experts' reviews
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