Any crypto project can be a fraud. I now have a few rules:
1. Do not invest in Russian crypto projects.
2. Invest only in projects where a good team and clear goals and objectives.
Topic: How to avoid ICO scam - page 35. (Read 7826 times)
Scam is the biggest problem in crypt, which has not yet been found a real and effective solution.
The point that you must check is :
- You must read the whitepaper
- See the developer who doing the ICO project
- You must see how the community.
- You must read the roadmap of this project
- Check the sites, is it profesional website or not
- Check the content, is the content inside the website is truly served with good.
- You must read the whitepaper
- See the developer who doing the ICO project
- You must see how the community.
- You must read the roadmap of this project
- Check the sites, is it profesional website or not
- Check the content, is the content inside the website is truly served with good.
Before investing in ICO it is worth studying the project attentively. To make it not easy because many projects is a scam who try to raise money in the illegal way. I prefer to buy coins right after listing on the exchanges.
It's better just to follow a well-known ICO oriented sources aka Ian Balina, etc
They do a big research before recommending a new ICO
They do a big research before recommending a new ICO
Personally, I was fortunate to have experienced mentors who suggest which ICO should be involved, but without them I would not understand what to chose.
Avoiding scam ICO was so hard, but choosing what's the trusted one can be found through bounty campaign handled by a legit manager. Before engaging to an ICO, you should know bitcointalk.org in a first place so that proper informations and other details of the project should be feed up to investors. Choosing the project along with a good campaign manager is your assurance to develop confidence towards successful investments.
Well participating in an ICo is a risk. But to avoid scam you just have to have your eyes peeled.. Look well before you leap and research on whatever you are getting into. I think that's the only way..
It's really difficult to avoid scam ICOs because all most all of the ICOs look promising at first. You will only know it's a scam after the ICO is over because there's a slow development or no development on the project at all once the project is over. That is why most investors are just waiting for a project to be listed in exchanges where they can buy it cheaper.
This is quite tough, whether we like it or not, sooner or later we're bound to get scam. These is the reason why we do a lot of research before joining an ICO, try to learn as much as possible about the whitepaper, checking the road map of every campaigns, but to be honest I'm quite bias and only joins campaigns from well known manager, though I'm not saying that they be scam, but I feel like when i join them the chances of getting scammed are lowered compared to others.
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:
Guys, what do you think, why did smart-contracts invented?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
What's the difference that the team is known and so on, if they comes to the cryptoworld and can`t draw up an adequate smart contract that is almost an indispensable condition?
Often I meet situations where everything is beautifully painted in Whitepaper, all the token metrics and another criterias, but you go to the githab, then there is no smart contract, or only to issue tokens.
Some kind of mismatch, right?
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:
I think it's simple first you have to research on their site and then check the team member. 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
Well, obviously the best way to avoid IKO scams is not to invest in icos at all. Winking is the only way to be sure. And it's not as bad as it seems. You can still investigate ICOs that seem interesting, and invest in them when coins are issued
According to me to avoid scam ICO's you must :
--> Check the trust rating of the person who is conducting the ICO.
--> Get opinion from the experienced people and people who invest a lot on ICO's.
--> See the number of people who have invested in the ICO.
--> Don't invest in ICO and take part in bounties because even if you don't get anything you won't lose anything because you aren't investing anything.
Thanks!!
--> Check the trust rating of the person who is conducting the ICO.
--> Get opinion from the experienced people and people who invest a lot on ICO's.
--> See the number of people who have invested in the ICO.
--> Don't invest in ICO and take part in bounties because even if you don't get anything you won't lose anything because you aren't investing anything.
Thanks!!
Sometimes it defends to bounty managers you trust, in my case case I am loyal to my bounty manager. If the project almost gone I try to make private message with him to ask what is the new project,luckily he answered 
.After that try to read the details of the ICO if it is alluring that's the time you decide.In choosing the right one it defends on you or it defends how you study the ICO or the project.
at least you need to determine the hard work of people who are authorities in the field of investment in ico companies, as well as are the participants of the group developers of different projects. already these people will be landmarks, To avoid fraud in the ico company..After that try to read the details of the ICO if it is alluring that's the time you decide.In choosing the right one it defends on you or it defends how you study the ICO or the project.
Sometimes it defends to bounty managers you trust, in my case case I am loyal to my bounty manager. If the project almost gone I try to make private message with him to ask what is the new project,luckily he answered .After that try to read the details of the ICO if it is alluring that's the time you decide.In choosing the right one it defends on you or it defends how you study the ICO or the project.
at least you need to determine the hard work of people who are authorities in the field of investment in ico companies, as well as are the participants of the group developers of different projects. already these people will be landmarks, To avoid fraud in the ico company. .After that try to read the details of the ICO if it is alluring that's the time you decide.In choosing the right one it defends on you or it defends how you study the ICO or the project.
Sometimes it defends to bounty managers you trust, in my case case I am loyal to my bounty manager. If the project almost gone I try to make private message with him to ask what is the new project,luckily he answered .After that try to read the details of the ICO if it is alluring that's the time you decide.In choosing the right one it defends on you or it defends how you study the ICO or the project.
.After that try to read the details of the ICO if it is alluring that's the time you decide.In choosing the right one it defends on you or it defends how you study the ICO or the project.
All the advices are about verifying the team and it's real existence in the top of the project but this is also a weak proof of the credibility of the ICO because, simply, scammers know about all the conditions to build a scam success. In my opinion, there is to major rules that can effectivly help investors;
1- I beleive in the opinion and choices of trusted experienced members of this forum so i simply follow ICO that they manage or wear their signature at least case.
2- Not to invest in ICO, but just wait after the crowdsale get finish then buy the token in lower price than ICO especially after the payment of bounties
Despite all the attitudes about this, it is important to evaluate a general view of the project and its vision.
1- I beleive in the opinion and choices of trusted experienced members of this forum so i simply follow ICO that they manage or wear their signature at least case.
2- Not to invest in ICO, but just wait after the crowdsale get finish then buy the token in lower price than ICO especially after the payment of bounties
Despite all the attitudes about this, it is important to evaluate a general view of the project and its vision.
As for me not to invest is not an exit!
You should be more responsible searching new ICO!
Now there are a great number special resources on the Internet for it
You should be more responsible searching new ICO!
Now there are a great number special resources on the Internet for it
Here's my tips on avoiding a scam ICO, these can apply to other products as well;
1. Look at the team, have they been in successful ICOs before, is this their first? How strong is their background?
2. Do they have a realistic development roadmap, and the team members necessary to execute this promptly?
3. Do they have a lot of hype around their product, but no real evidence of strength?
If these have negative results, then you should avoid the project.
1. Look at the team, have they been in successful ICOs before, is this their first? How strong is their background?
2. Do they have a realistic development roadmap, and the team members necessary to execute this promptly?
3. Do they have a lot of hype around their product, but no real evidence of strength?
If these have negative results, then you should avoid the project.
Personally, I was fortunate to have experienced mentors who suggest which ICO should be involved, but without them I would not understand what to chose.
Today even with experienced professionals it is very difficult to make a qualitative choice of his company. The fact is that it's not the goal to identify the fraudster, but the goal is to find that promising project that will bring you profit at the end of the company's ico. Jump to: