Topic: How to avoid ICO scam - page 25. (Read 7826 times)
Like others have said there is a laundry list of items you need to watchout for with icos. But to me I think the main thing is having a good product and a team. If ico doesnt have these two things I dont bother looking into it more. Also
The best way to avoid ICO scam is to always do research yourself, don't go by following people hype or opinion, following people opinion might make fell into a scam ICO, many people are paid to say good things about an ICO.
I do not really know about this. But little by little I was taught my friend to avoid the scam ICO. There is a long list of require, for example you have to learn every team member. If the team thinks you are good and you should also ask your friends who are experienced with this kind of thing. The point is to have a good product and team. If ico does not have these two things I do not bother looking for them further.
If you understand the smart contracts then you should study the smart contract of the project in which you are going to invest. If under the terms of this smart contract there are some guarantees for investors, it is likely that the project deserves your attention.
You can read the whitepaper and see the team from an ico project. Because we know that a team is the main one in the project. So is it a real or fake team. You can also see the enthusiasm of the community against the ico project. Hope this helps.
Hello! Here on the forum you can read about this but I think you have no 100% to protect yourself but you can minimize risks!
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:
You need to first research on their site and projects and then to check the supply of the tokens. 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
To avoid the ICO scams, you have to take your time studying the project carefully and reading its whitepaper as well. If the project have a good and detailed whitepaper, and experienced team behind it, in addition to a valuable and needed product, and a clear roadmap, so it's safer and less risky. But keep in mind that investing in ICOs involve always a level of risk.
It’s really difficult to identify if the ICO is scam instantly. But I think you can avoid it before joining. Or you have to consider different things before joining to an iCO. Here are some things I consider before going to an ICO. First I make it a point that I need to read the whitepaper so that I knew what will be the project and how it works in the future. Next is I also consider the people behind the project. On how they managed the project.
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
Unfortunately, in the conditions of today's mood in the cryptocurrency market. investors are not very willing to invest their money in bitcoin and it falls. Kaya price will be further difficult to say, for this reason, many investors do not invest in ICO/ on the other hand, it is on the contrary a great opportunity for cheap and low price to buy bitcoin or Ethereum for Fiat money. But here, too, no hurry. Why I write so much. Personally, I bought a lot of tokens from various cool and promising ICO companies. But companies extend or make a temporary pause. The great companies I chose, they don't raise the right amount of money. It just collapsed. There is no clear answer to your question.
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
In order to pick up a worthwhile project, just pay attention to what makes any project being a real project:
- understandable and reachable idea and/or concept (something, what is gonna be useful/used by you/used by loads of people);
- solid wp and understandable roadmap;
- website;
- presence of MVP;
- linkedin profiles of team members (they in their turn must be very experienced and competent in the area they're working in);
- media coverage;
- active community support, etc.
These are the criteria of a promising and successful project, including one my most favorite - Cryptics. Check it out, it's the example of a trustworthy project
Avoiding ICO scam is very easy, the thing you must do only is to search about it and make an effort to have an assurance about the project. If you feel that this is not the one you're looking for then you must find another one because it will only increase the risk rate of yours if you didn't research well.
i dont't think it is not that easy, how can you make sure the project you are doing research has no scammer, and nowadays it is very difficult to find a scam ICO, there have been so many ways to steal money from investors without letting anybody knows, so no matter how much you did research there will always risks that we have to accept before investing ICOs.
Just check the ratings on sites like IcoBench, you will need to understand what a project!
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.
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. @PokerStein1. Scam ICO is and will be the worst Fraud Schemes in existence today, its irresistible but only in few cases. just like he had pointed out those points. its better you invest in already made coins. like in the top 10 to 20 ranks. just be careful in decision making regarding investing in crypto.
There is no accurate algorithm to avoid ICO scam. Just need to look carefully at the target project, scrupulously inspect its team and whitepaper.
It will be good if you will observed first the currency that you invest for, like thinking what will happen if you make investments, but for for me observing the faith of other investors in that cryptocurrency is the best idea to identify if its legit, other one is noticed the history and the people who are in charge in manipulating the cryptocurrency.
I want to say, Today many ICO make their appearance and many of them become popular and known but others are fraud, unlawful or illegal. So Read more information about them in the forum and always ask any questions on their telegram or other chat platforms.
Running away from what is being predestined is not an easy task.But one will never be total sure if an ico is a scam or not. Of course there are signs to know that some ico's are just so obvious that it's loojs ridiculous but others look extremely promising but then they suddenly fall of the grid. I don't really mess with ico's, I happily hold the majority of my assets in bitcoin or preferably ethereum
Avoiding ICO scam is very easy, the thing you must do only is to search about it and make an effort to have an assurance about the project. If you feel that this is not the one you're looking for then you must find another one because it will only increase the risk rate of yours if you didn't research well.
If you participate in many ICO projects, then you will not be able to avoid the scam, as some projects will not fulfill their promises to investors and bounty campaign participants.
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