For someone who have demands to learn and find out scam projects, scam ICOs, there you go:
Collection of comprehensive guides on identify and avoid scam projects
This is a collection, in which collected and presented the most helpful topics on methods use to generally find out scam projects, not only ICOs.
Topic: How to check if ICO is scam or not? - page 11. (Read 17482 times)
It's very important to make a background search about an ICO to ensure that you are not wasting time and money on any project which is not worth it. Some folks in the cryptospace are trying to play smart by luring people to invest into ICOs that are not worth a thing and have no working product. It's best to invest into ICOs that have a working product that would actually make use of its tokens at all times hence increasing the value of the tokens when listed on an exchanges.
Make a thorough research about the team members of the project, their whereabouts and their qualifications which guarantees to some level that they have the experience and expertise to actually achieve what they claim to do. This should at least help you to sample good projects from white elephant projects.
Make a thorough research about the team members of the project, their whereabouts and their qualifications which guarantees to some level that they have the experience and expertise to actually achieve what they claim to do. This should at least help you to sample good projects from white elephant projects.
related to ico scam projects or not difficult to find out because there are many ways for them to make ico look convincing in our view. but we can still avoid it when ico is not convincing and the anonymous team is better not to follow. always alert
Check out icoethics.com, it is a good site to find the scam ICO. ICOethics is trying his best to find out and bust scammers here in this forum.
You can check team members of a ico to find out their legitimacy. All the scammers use fake images.
You can check team members of a ico to find out their legitimacy. All the scammers use fake images.
whitepaper is the main step in determining ico because we can know the purpose of the project and the product being offered but don't overestimate the whitepaper because now there are so many whitepapers that just copy from the previous project (be careful)
I also advise you to always see the news here Scam Accusations
I also advise you to always see the news here Scam Accusations
To do this, you need to carry out a whole Analytics,and first of all to study the project itself,what is the idea of the project,and it is very important(I will pay attention to the project team), whether the real people in the picture,and what projects they previously launched!?this will depend on 90% of the project,as people can be stupid fake and it will immediately say that the project is 95% SCAM
While ICOs is an ethical way of raising money through “crowdfunding,” the process is obviously fraught with danger if you fail to do your due diligence of the company, its backers, its team, advisors, and its concept. Here are a few signs when an ICO is most probably a scam, first, are promises that are too good to be true, a shallow whitepaper, then check the core team if they're real or fake, also uncapped or unrealistic raise is a red flag and lastly, breathless hype on social media, if an ICO is confident on its product it shouldn't rely on buzz word hype in social media. Talking about these ICOs, great example would be finished and running projects like Stackr and Bitrus.
I guess too, for an ICO to succeed there must a perfectly working product. Too bad I ain't invested on ICOs you mentioned.
The easiest way is to read the whitepaper, most scam projects will copy and paste their whitepaper, besides that the roadmap that looks impossible is the easiest way to find out about a scam project or not.
There are many way to check ICO projects. Many ICO reviews sites like ICO Bench, ICO Bliss, Track ICO. But i believe that you need to make your own research well, not for 10 minutes or a day. You need to search everthing about the project, every news they have or go to their social media accounts and check them they active? Go projects telegram channel and talk with admins, see they respond quickly and trustfuly.
Identifying whether an ICO is legit or scam is getting more complicated everyday. Yet, if we are investing our money in something, we should be well aware of where is it going.
The best way to know whether an ICO is scam or not is to identify the person behind it, know their personal experience, their economic and social background and whether they are really an specialist about the project are just pretending to be.
Yes. A lot of them are getting better in what they do lol. Identifying real and fake ICO is now a heavy task for anyone to do these days. I think the number one thing that matters most when trying to know if any ICO is legit or scam is the team. Yep the team behind it tells a lot of about it. So let's assume that an ICO has a Vitalik Butterin as one of the team members, you don't really need to think twice about it right?? But it doesn't just end there cause scammers now invent fake founders and biographies for their project. So, you really need to dig deeper in this to know if they are really what and who they claim to be. Their social media has to prove it. The best way to know whether an ICO is scam or not is to identify the person behind it, know their personal experience, their economic and social background and whether they are really an specialist about the project are just pretending to be.
I've been reading about a lot of scammy ICOs that take people's money and run away. I'm looking to invest in a couple of ICOs but have no way of knowing if they are good or not. Can anyone tell me how I can go about doing this without losing any money?
There are lot of things you've got to check in an ICO, and I also like to say that scammers are now pretty good at what they do. Most of them now knows how to cover up pretty good so they won't be noticed. So you gotta be very careful cause I have read a lot of stories about them. Take your time to check everything that you're meant to check and also try to ask questions about the ICO.
There are no true parameters.. I think doing your research as much as possible is the best you can do.. And also try not to FOMO too often..
To find out that the ICO project is a scam or not. We have to check the development team and the CIO. We check whether they are real or not. Then study the white paper and you must join the official telegram account they have. If all checks are in doubt, it's better to look for another project.
in fact all aspects of the ICO determine that the project is good or bad because there are no certain things that guarantee the success of a project.Although I think work partners and bounty hunters support the success of a project.
so in my opinion, we don't need to invest in ICO with a very large amount, especially in this condition.
As a beginner, we must be able to understand the characteristics of a good ICO and not because it is very important to avoid fraud. Imagine things that we must pay attention to, for example TIM, products, and white paper. I do not guarantee that we will not lose money because investing in ICO is difficult things that sometimes happen unexpectedly, but we can avoid the best we can with care.
so it was possible to say like this a half of year ago or even a year. Now scammers are doing their site / white paper very carefully / picking up a team that even with very good preparation you will not be able to determine in advance that the project is a scam. just now you need not to risk a lot of money
As a beginner, we must be able to understand the characteristics of a good ICO and not because it is very important to avoid fraud. Imagine things that we must pay attention to, for example TIM, products, and white paper. I do not guarantee that we will not lose money because investing in ICO is difficult things that sometimes happen unexpectedly, but we can avoid the best we can with care.
There is no specific formula for this but you can analyze the ico on different paramameter. First you can check whether promoter are new one or experienced.second you can analyze how they are active on telegram and other social sites. Third you can analyze whether they work according to whitepaper or not. Fourth whether they are going to list on any good exchange or they create their on platform. If they are on good exchange mean they are good.
Hey guys, I'm new to the whole ICO world, and BTCtalk as well. I've been reading about a lot of scammy ICOs that take people's money and run away. I'm looking to invest in a couple of ICOs but have no way of knowing if they are good or not. Can anyone tell me how I can go about doing this without losing any money?
To choose a potential ICO, you need to know the following information:Website: Check how the website is designed? How is introduced.
Headquarters: Check which country ICO, location and information, if you can verify it, the better.
Team: Evaluate the team through the information introduced, check to see if they are actually implementing the project?
Whitepage: This is a documentary file detailing the ICO, the size of development, the way of calling capital, the direction of ICO, especially the products that ICO is developing. (Must read carefully)
To find out that the ICO project is a scam or not. We have to check the development team and the CIO. We check whether they are real or not. Then study the white paper and you must join the official telegram account they have. If all checks are in doubt, it's better to look for another project.
some suggestions:
1. Look at the team, make sure the team is experienced and not suspicious
2. read the whitepaper, see the demonstrated concept
3. Look at tokens and how long ico runs
1. Look at the team, make sure the team is experienced and not suspicious
2. read the whitepaper, see the demonstrated concept
3. Look at tokens and how long ico runs
While ICOs is an ethical way of raising money through “crowdfunding,” the process is obviously fraught with danger if you fail to do your due diligence of the company, its backers, its team, advisors, and its concept. Here are a few signs when an ICO is most probably a scam, first, are promises that are too good to be true, a shallow whitepaper, then check the core team if they're real or fake, also uncapped or unrealistic raise is a red flag and lastly, breathless hype on social media, if an ICO is confident on its product it shouldn't rely on buzz word hype in social media. Talking about these ICOs, great example would be finished and running projects like Stackr and Bitrus.
Well, we agree that the crypto market has the ability to give fantastic returns but finally, all businesses are subject to the same market forces. If an ICO promises unrealistic returns on investments, like “Our coin gives you 1000% return in x months!” you had better watch out. Also try to read and understand the whitrpaper.. And do Lil research about the team if you can.
Jump to: