Topic: How to avoid ICO scam - page 30. (Read 7844 times)
I invested in Bank4YOU Group ICO. They have a good idea and strong team. I received my BEEFY tokens and I hope after big announcement price will go up!
do your research is that is the only way of it by doing this you can exclude the good one and the bad ones by doing this and in this way you can avoid being scamed and just wasted your friend
You better be more careful with searching for his name and the identity and history of their name. I think you mention it is true but nowadays many ICOs are trying hard to make the investors believe they are just scamers
The ICO initiators have learned to disguise them and really know whether or not this scam is almost impossible. The only way out is to be familiar with the creators and developers of the project.
There are so many projects and that investing your money into ICO project is a good way of making some good income but you need to be sure that you are investing your money into the right project and that you are not going to lose your money or get victim of some poor project. You can only do this by studying well about all the projects and then making a comparison in between all the projects. 
The simplest way is to just look at the team, if they have a proven track record of success, and reasonable goals, then they will likely make it.
If they don't have much experience with blockchain, then the odds are stacked against them.
Technically that is the main thing. Researching several times is a must when you think it is a scam. In other words,there must be trusted person to do a research on a particular thing not just a team but also for individuals,it is not only for own sake but for the sake of members that are involved in ICO. It is a hard task but that is the only way to avoid ICO scam. Who wants to get scammed? Of course,nobody,right? So as much as possible gather all the information from the net or any reliable source to have a security. If they don't have much experience with blockchain, then the odds are stacked against them.
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 no way for us to avoid ico scam because they have a platform that is very promising to the eyes of other investors but sometimes if ico will pay a decent amount then managers will try to scam the participants as well.
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:
To avoid scam ICO you need to make sure that the project is real legit,You need to know if the members of that project is exist and you need to see if they doing their responsibility like posting their real work in social media. If the project is incomplete information about their project or their background you need to avoid that. We need to research deeply if we want avoid to scam by some ICO. 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
Learn about it, Ask a skilled guys to take a look on it, examine closely a whitepaper, ask in a telegram group people what are their predictions, join) invest.
The simplest way is to just look at the team, if they have a proven track record of success, and reasonable goals, then they will likely make it.
If they don't have much experience with blockchain, then the odds are stacked against them.
If they don't have much experience with blockchain, then the odds are stacked against them.
Probably not. You should invest in the ICO cautiously and do not invest there all your funds, this is the only way to insure from the 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:
The first: read all info about project!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
Choice ICO with good Dev and about plan to grown up coin!
Etc.,.
To me the first question to ask is can this team deliver on what they are promising. It they idea is more of abstract, it is better to keep your money in your pocket because they will burn all the money without delivering anything substantial to the market to see
That's right. Even better angle is to invest or get involved with the projects that are looking to build the platform first and then distibute tokens, at least you'll be sure they are legit along the way of development. There is a r/CryptoCurrency that mentioned top 4 upcoming cryptocurrencies with no ICO - https://www.reddit.com/r/CryptoCurrency/comments/8ds79y/top_4_upcoming_projects_not_doing_an_ico/?utm_source=reddit-android
You can only be careful with ICO because it is very difficult to predict that ICO is a scam. It is not enough just to see whitepapers, websites, roadmaps, development teams and more. But I think not all ICO scams, there are some ICO's that have the potential for success in selling tokens.
The ICO initiators have learned to disguise them and really know whether or not this scam is almost impossible. The only way out is to be familiar with the creators and developers of the project.
Hello everyone,
I am in crypto world from August 2017 and learn a lot and still have to learn a lot.
Let me share few things with you which are very important.
How to find weather ICO is scam or not
There are few things which we can check to avoid scams.
1. Do check their whitepaper , if you don't have any technical knowledge then you can take help from google to comes to know about project reviews because there are many website who review about ICO's
2. Do check their Team members, try to find their social accounts and do some background about them and their past experience.
3. Check out their Roadmap, check out discussion of projects on bitcointalk,reddit,telegram and other social channels.
4. Check their partnership details. Try to contact their partners to confirm it.
As once you select that you want to participate in ICO, then keep these things in your mind.
1. No one from team member will contact you personally through telegram or other channels to contribute to you. Only ways of contribution are either through their website or that is mentioned on their website.
2. There are many fake admin profiles on telegram , they will personally message you and will give you contribution address to send ETH/BTC or whatever. Don't listen to them and ban them immediately.
3. Only trust official websites, Admin and team member.
4. you will get email from hackers , don't open them.
5. use 2fa and other securities to your accounts on exchanges.
Recently i get email from fake cryptopia exchange team that someone is trying to access my account. I click on that link and found that it was almost similar to real cryptopia link. So avoid these types of email.
If you have any question or need any help, leave your post below. I will try my best to help all of you.
Thank you and all the best.
I am in crypto world from August 2017 and learn a lot and still have to learn a lot.
Let me share few things with you which are very important.
How to find weather ICO is scam or not
There are few things which we can check to avoid scams.
1. Do check their whitepaper , if you don't have any technical knowledge then you can take help from google to comes to know about project reviews because there are many website who review about ICO's
2. Do check their Team members, try to find their social accounts and do some background about them and their past experience.
3. Check out their Roadmap, check out discussion of projects on bitcointalk,reddit,telegram and other social channels.
4. Check their partnership details. Try to contact their partners to confirm it.
As once you select that you want to participate in ICO, then keep these things in your mind.
1. No one from team member will contact you personally through telegram or other channels to contribute to you. Only ways of contribution are either through their website or that is mentioned on their website.
2. There are many fake admin profiles on telegram , they will personally message you and will give you contribution address to send ETH/BTC or whatever. Don't listen to them and ban them immediately.
3. Only trust official websites, Admin and team member.
4. you will get email from hackers , don't open them.
5. use 2fa and other securities to your accounts on exchanges.
Recently i get email from fake cryptopia exchange team that someone is trying to access my account. I click on that link and found that it was almost similar to real cryptopia link. So avoid these types of email.
If you have any question or need any help, leave your post below. I will try my best to help all of you.
Thank you and all the best.
I guess in the few months of my searching and browsing here in the forum i had somehow found some ideas on how to choose a good ICO that will be successful in the near future. All you to do is make a survey to all their telegram. Joining in their telegram would let you evaluate if the project is good. Just join all the ICO that you think it is worthy and then make a readings on the conversation with the telegram if there are positiviness in their comment post within the channel. You can ask also if they reach their softcap just to make sure that the ICO has a lot of potential when it comes to success. Another thing is that if they had a live sales on their tokens and that would be the best ICO to join just like BITSCHOOL ICO which sold already to almost 4m of tokens. The community supported it that is why in just pre sale they alsmot got their softcap reach.
One of the most important ways to avoid uco scams is to avoid scammers.
So before you invest in a project, you have better understand the team. The team must not be a liar, so that the project you are investing in will be safer.
So before you invest in a project, you have better understand the team. The team must not be a liar, so that the project you are investing in will be safer.
rather difficult to compare scam sites and not, we see like savedroid which can award the best ico in germany alone can scam, i think choosing the best ico is open and transparent ico.
Some ICOs are obvious scams, which are easy to avoid.
You should check the team profile, learn about their background.
Even many hyped ones are scams too.
You should check the team profile, learn about their background.
Even many hyped ones are scams too.
You will never be 100% sure if an ico is a scam or not. Of course there are indicators, some ico's are just so obvious that it's funny 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. But you can know some scam Ico by checking the team, reading the white paper etc.
There are a lot of ico scam out there, and there is no special way to know them.
Personally I will advise that you do a double check on everything you do and leave no Stone untouched. It is better to miss out than to be scammed.
Personally I will advise that you do a double check on everything you do and leave no Stone untouched. It is better to miss out than to be scammed.
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