Topic: How to avoid ICO scam - page 20. (Read 7826 times)
Before participating in any ICO I often deeply research the project. My advice is to pay attention to whether the projects have a ready-made product as it is some kind of guarantee that it is not a scam as well as long termed activity before ICO. It is an indicator that team goes straight to their goal and will not give up.
It is very important to do away with the numerous scams on the market. We have to be vigilant in the kind of project or ICOs we invest. We should not hype and invest in any project without any legit source of partners.
My advice is learn about previous ICO projects, select valuable ones and participate to a similar ICO. And invest in an ICO with a working prototype only.
Careful study of history, communication with managers. But it may not always be able to help you.
I think there is no exact list that states how to avoid the scams. We only can analyze more to minimize being scammed. the ways by analyzing the ICO projects regarding their concept, team, presentation in WP and Web, token realization, and more.
But, we must be also active in their community such as in the telegram to know their interaction and progress.
But, we must be also active in their community such as in the telegram to know their interaction and progress.
Research before investing in any ICO, it the widest thing you can do for your investment. 2018 has been tough because of some fraudulent ICO's and people loosing there money. So I would suggest you to research properly before investing in any ICO.
For you to not be a victim of a scam ICO, you should be more on gathering information regarding with there projects is. and be more considerable to the team and gather each information.
There are several signs that investors should look out for to determine whether an ICO might be a scam. Check the signs now!
1. Weak Website or White Paper
2. No Clear Roadmap
3. Skewed Mining Structure
Investors and affiliate marketers need to weigh up the risk associated with ICOs
1. Weak Website or White Paper
2. No Clear Roadmap
3. Skewed Mining Structure
Investors and affiliate marketers need to weigh up the risk associated with ICOs
If you want to invest into an ICO, consider the previous successful projects and the kind of project it is. Consider the roadmap of that project and team members for that project.
Well there are many ways to found out that the ICO is scam, well you need to read the white paper if they have and also look for there management.
I thınk you can't avoid scam ICO's if it is in your faith 
because they can look legit and after six months past of their ico they can say we are done we can't deliver this product because of this because of that bla bla.. You can protect this situation with blockchain or nothing else. If you are not a risky person you need to go on with BTC LTC and Eth or really good proven altcoins.
I agree with you. There is not guarantee that any ICO will be successful so investing in them is done at our own risk. All the same, you can make big time profit from them because they can look legit and after six months past of their ico they can say we are done we can't deliver this product because of this because of that bla bla.. You can protect this situation with blockchain or nothing else. If you are not a risky person you need to go on with BTC LTC and Eth or really good proven altcoins.
From experience, there isn't a sure way to avoid an ICO. The team can be good, a good whitepaper with a great proof of concept, yet the project can still fail or the team run away with the cashed raised. The best way to avoid ICO scam , is to not invest the amount you can't afford to lose. If you will invest in an ICO, ensure the company has existed offline for some number of years, and has a proven record of making a consistent profit before given them your hard earned cash.
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
You are actually right because if people does not do enough research, they might be involved in some fraud and lose their precious time investing on something that is not real. People must have the interest to know if something is real and true. This would take time because scammers are also taking their time to scheme something that is not true and let people invest on something that will only benefit them.
A team to carry out ICO has its own project white paper, official website, management team introduction and so on. First of all, we must read these things in a comprehensive way, roughly judge the background of the team's strengths, and make a preliminary selection. Specifically include the project's market size, demand pain points, product planning, business processes, token-based ICO programs, funding purposes, team background, and more.
If you interest ICO, you can consider this project eloncity.io
If you interest ICO, you can consider this project eloncity.io
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
there is nothing you can do to avoid scam project or ico's.. we have to be careful because non knows the wrong and right project over here. but we only reduce it because every day
by day that is how new projects are being launched. since bitcoin was introduced we have not less than 4,000 altcoin that have been launched in all 1000 altcoin have been scam.
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
Read the whitepaper and read about the developers. Developers with good to great backgrounds often make legitimate ICOs and even make their token top tier in terms of demand. That's how legitimate they can go. Reading the whitepaper seals the deal by mentioning their actual capacity to make things or their claims work.
Even a good study of the project may not help you . Look for good managers ,communicate with them .
It is very difficult to avoid Ico scams. You can consider before investing in the Ico, you should see the developer team, website and also the Ico project objectives.
Scams are mostly can be avoid by checking the team.
They are mostly putting fake profiles there. So contact them on linkedin and check if they really made something for ico.
They are mostly putting fake profiles there. So contact them on linkedin and check if they really made something for ico.
It is hard to know what is the good ICO you have joining for. Most of ICO for today is a scam to avoid it, you must do a deep research about that ICO whether it is good or bad. You must know also who is the manager of that ICO and have a research also.
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