The most important method is to research the team
A theme among the seasoned cryptocurrency investors is the need to first ensure the teams backing an investment product are reputable.
"Do they have any experience in blockchain or cryptocurrency? It's a big red flag to me when they have no experience in the space," says Fred Schebesta, Co-founder and CEO of cryptocurrency broker OTC"Also, if the people at the company are all anonymous... When a company won't tell you who's behind it, this to me shows a lack of credibility and trust of the brand."
Beyond researching team members listed on the site, it also makes sense to confirm that listed individuals are actually involved with the project as well.
"I look at the executives' backgrounds, and I sometimes ratify the quality of the advisory team if they are really advising in cases where it is borderline," says Stewart Rogers, analyst-at-large at VentureBeat
Topic: How to avoid ICO scam - page 6. (Read 7844 times)
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.
Before you invest in ICO better do your research. You should see the look of the website should look good. And you should do a check of the sales achievement of the token. After that, you have to check the truth of the investors with you see transactions in the wallet the ICO project. If you know that the project is there something not right, you could be looking for another project.
it will be difficult to do this now very well everything is disguised, but I think intuition in this will not let you down
In my opinion, avoiding ICO scams is that you do not participate in projects without clear white papers, without specific teams and maps. You should also pay attention to the ICO rating and community response to that ICO.
you can avoid scam ico by investigating, by looking for the public information they provided to the community, you are able to see if there are some scam intent or not. you can also look for the feedback and votes about the ico.
Most scams could be avoided if they just do this one step so they have an idea of what they are investing in.
In spite of the fact that I don't have more understanding about taking an interest in ICO's ventures since I was an amateur I think it is smarter to attempt spend more occasions to consider about with your prospected ICo. At that point read and examine their stage and guides in the event that it is practical and has a dependable source like individuals behind the undertaking. Dont constrain your self to learn new things to find out about ICO's and to abstain from being trick.
you can avoid scam ico by investigating, by looking for the public information they provided to the community, you are able to see if there are some scam intent or not. you can also look for the feedback and votes about the ico.
Well there are various of way how to deal with ICO scam but the most important thing is never follow hype news specially in ICO review sites because most of them are paid reviews this one of the bad habits in Crypto. If you are looking for decent ICO i prefer Trustedcars one of the best mobility provider in Germany that is already implemented for users who wants to avail their services where they can rent any cars in the Partnered Car dealership Inventory with no long term investment !
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.
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
Yes, scammers now are very professional in their field. An expert in doing evil deeds. It is hard to determine because they have upgraded their style of scamming. You realized you have been scammed until you become a victim. That's why be mindful and careful always.
There is a lot of scam in market so for that i only choose SciDex. The SciDex protocol sets out to unlock smart contracts for businesses. It starts by enabling the translation of written contracts to smart contracts and ascends the complexity chart by adding additional trusted, secured and proven layers. This allows the expression and execution of more complex transactions. The result: readable, compliant and adaptive smart contracts for complex assets transaction
The best way to avoid an ICO scam is to always do your own research. I think the main thing is to have a good product and team. If I don't have these two things I don't bother looking for them further. I think joining the popular ico and being recommended is a good way because if the professionals suggest it, then it has a small chance to become a scam.
ICO scam is very difficult to track. Some ICO who considered nice but in the end the scam. And ICO are not seeded can be successful. I could only do some checking through the Website and the team manager. And you should make sure that their social media accounts are very active.
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. This got some point. With this kind of scenario that cannot be avoided. So you need to be smart enough and think about the future. About the potential of growing of an ICO. It is not just about the present situation and the proposal but we also need to consider if it is attainable and realistic. We all need to be smart, but being smart is not enough sometimes there are still luck.
Indeed the number of ICO that this scam is currently so much. However, we know that it is not easy to know that an ICO project is undergoing a scam. then for me the safest is to follow ICO project already softcap only.
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.
At the end of the day nothing can prevent a scam if the developers have all their efforts in it, the only thing you can do is to take measures to minimize the loss and the possibilities, the first is to always investigate well before making any investment, the second is to try not to invest more than you can lose, and the third always keep in mind that this is a very volatile market, so you can not get conned, but lose all your money in a bad ico.
In order to avoid scammers, you must carefully analyze the project. At the moment, this is very difficult to do, but your profit depends on it.
Just analyze the projects you want to invest in. How to analyze ICO and where to pay attention has been described in detail many times in this forum. However, I do not think it is a good decision to invest in ICO now.
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