How to check if ICO is scam or not? - page 16.

Flickkk

full member

Activity: 434

Merit: 101

Bounty Detective

Quote from: GBCrypto1 on February 19, 2018, 06:17:57 AM

There isn't a sure shot way of knowing whether an ICO is legit or not. But you can definitely follow these things:

1) See if they have a nice and technically sound whitepaper. Whitepaper says a lot about an ICO.
2) Do a background check on the team. If they aren't visible on the internet, they have things to hide.
3) If an ICO has unrealistic expectations out of their token offerings, it means they haven't done their research properly. Shows a lack of dedication and planning.
4) See the advisory board. Big people means good ICO. No big shot advisor would want to be seen as a scammer.

For example, a new ICO is coming up. I stumbled upon them through some site. These guys are trying to make good use of blockchain. If you look at their site, it's clean and clear. Their whitepaper is very descriptive. Also, all the founders can be found on the net. It's a good initiative. Check 'em out here - http://enkidu.io/

It depends also how will the website design attracts an investor. But i might say even if the ICO pays you but the price is shit. They still label as a scam for me. Because sometimes it has a low chance of overpassing the ICO price by the Market price

ropyu1978

hero member

Activity: 1904

Merit: 510

Quote from: cryptonerd42 on February 19, 2018, 06:00:35 AM

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?

it would be very difficult to determine whether or not a scam is an ico. but there are mechanisms and ways to learn it.
in my opinion, experience is the main thing in every investigation to determine whether it is worth investing in an ico or not. especially you have to look for all information and examine it in its entirety before actually speculating.

KingDome

jr. member

Activity: 434

Merit: 1

You cannot actually say if the ICO is a scam or not, you cannot even wonder whether they wanted to scam you or not, everything cannot be predicted in the crypto world.

novusordo

sr. member

Activity: 800

Merit: 250

It is difficult for you to predict which projects are scam. So it's best to invest in it and wait, time will give you the most accurate answer about the project you have invested.

ajdar.muxin.79

jr. member

Activity: 126

Merit: 4

Read the whitepaper and look at the product development stage. All scam projects do not have a working product and have a bad written whitepaper, and if you invest some time to check these factors you will avoid scammers.

nonbody

hero member

Activity: 826

Merit: 501

2local[IEO] - https://2local.io/

Quote from: cryptonerd42 on February 19, 2018, 06:00:35 AM

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?

It is very difficult to invest in ICO projects without losing money, unless you invest in the top ICO projects, and many people are optimistic, online transactions directly skyrocketed several times.

larkinvain

member

Activity: 1120

Merit: 13

At first check the scam accusation section in this forum. I don't think whitepaper can be a good measure to track a scam project, because many scam projects had a very good whitepaper like Hashcard. Try to research about the team background, have a look in the community activity if you see many users are praising continuously than a question, avoid that ICO, they use a bot to praise them Grin

! Try to read and spend some time in research. You are new, please don't invest in ICOs, learn first what is it and how to know about a scam project. If you want to invest then invest in established coin, I suggest the top 20 coins for invest blindly. Good Luck.

johanesrobin

full member

Activity: 658

Merit: 100

Quote from: passwordnow on February 27, 2019, 06:36:22 PM

Quote from: johanesrobin on February 27, 2019, 06:24:38 PM

This forum provides good service at this time, I can see ico scam in a special thread and I appreciate that some members can quickly provide information about ico scam.
and the moderator can immediately give a warning even redtrust.

I agree that this forum has been the best place to check if an ICO is a scam or not. There are volunteers who are willing to spend their time for the sake of the community, they aren't paid with what they have been doing for busting out scam ICO's. Always look to the trust page of that ICO's profile/account and if there's a negative feedback from a DT1/DT2 it means that project should be avoided. You can also add to search things through googling it for more evidence if the proof provided doesn't satisfy you.

You can also find news about ico scam here:
https://t.me/shitcoinoffering

I was very helped by this channel.
may be useful

passwordnow

hero member

Activity: 3108

Merit: 577

Leading Crypto Sports Betting & Casino Platform

Quote from: johanesrobin on February 27, 2019, 06:24:38 PM

This forum provides good service at this time, I can see ico scam in a special thread and I appreciate that some members can quickly provide information about ico scam.
and the moderator can immediately give a warning even redtrust.

I agree that this forum has been the best place to check if an ICO is a scam or not. There are volunteers who are willing to spend their time for the sake of the community, they aren't paid with what they have been doing for busting out scam ICO's. Always look to the trust page of that ICO's profile/account and if there's a negative feedback from a DT1/DT2 it means that project should be avoided. You can also add to search things through googling it for more evidence if the proof provided doesn't satisfy you.

VieleSind

sr. member

Activity: 434

Merit: 250

Quote from: cryptonerd42 on February 19, 2018, 06:00:35 AM

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?

The old topic from 2018 but now still very useful for the new member on looking ICO project to invest. And now the market cap of this market is low, and I think there is a lot of scam ICO campaign appear and you should wait until the recovery to continue to investing in ICO. Now you can invest in altcoins and Bitcoin and hold.

johanesrobin

full member

Activity: 658

Merit: 100

This forum provides good service at this time, I can see ico scam in a special thread and I appreciate that some members can quickly provide information about ico scam.
and the moderator can immediately give a warning even redtrust.

Huntler1993

member

Activity: 462

Merit: 13

It just simple, research much about it and you will see if their mission and vision could be achieved. If not then never trust such a project since it might be one of the odd ones out there to take advantage of investors.

BUK2016

full member

Activity: 770

Merit: 126

There are many ways in which one can identify whether all this new projects are legitimate or not. There is need for you to conduct a research on the ICO which you want to invest your money a and your research should cover the following areas such as the LinkdIn profile as to whether the name of the team tally with the pictures, are they register company? If yes in which country etc before you invest your money.

larkinvain

member

Activity: 1120

Merit: 13

At first check the scam accusation section in this forum. I don't think whitepaper can be a good measure to track a scam project, because many scam projects had a very good whitepaper like Hashcard. Try to research about the team background, have a look in the community activity, if you see many users are praising continuously than question, avoid that ICO, they use bot to praise them! Try to read and spend some time in research. You are new, please don't invest in ICOs, learn first what is it and how to know about a scam project. If you want to invest then invest in established coins, i suggest top 20 coin to invest blindly. Good Luck.

StephenJH

hero member

Activity: 1470

Merit: 521

No more Rekt and Bust

Quote from: Oasisman on February 27, 2019, 05:45:46 PM

Quote from: cryptonerd42 on February 19, 2018, 06:00:35 AM

Can anyone tell me how I can go about doing this without losing any money?

This statement is the mission impossible in ICO investments. There is no way it will guarantee that you wont loss a single penny when investing, even if you say that a certain project is legit, it doesnt take away the risks that it may fail at some point and lost all what you have invested. Thats why theres a saying " invest what you can afford to lose" is a popular line here.

Investors are smart people, so falling to traps designed for newbies is not expected. Noone can guarantee the profit or return on the investment if there are accusations against the team or project.

Oasisman

hero member

Activity: 2716

Merit: 552

Quote from: cryptonerd42 on February 19, 2018, 06:00:35 AM

Can anyone tell me how I can go about doing this without losing any money?

This statement is the mission impossible in ICO investments. There is no way it will guarantee that you wont loss a single penny when investing, even if you say that a certain project is legit, it doesnt take away the risks that it may fail at some point and lost all what you have invested. Thats why theres a saying " invest what you can afford to lose" is a popular line here.

Innocant

sr. member

Activity: 1414

Merit: 260

Actually they are to many ways in how to check or avoid to those ICO scam.
Ill think we are different ways on how, But sometimes even if we checked the ICO in the end they are not totally paid us so we need to be careful always.

UniversityCoin

full member

Activity: 714

Merit: 101

Quote from: cryptonerd42 on February 19, 2018, 06:00:35 AM

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?

Now even experienced investors find it difficult to distinguish fraudulent projects from good projects. Therefore, it makes sense not to invest in new projects at the ICO stage, but to buy coins immediately after their release on the exchanges.

TrevorS

sr. member

Activity: 1050

Merit: 377

To begin, enter in Google the query "project name and the word scam," if there is any evidence that the project is a scam, they will appear in the first lines of the search output.

cudora

copper member

Activity: 336

Merit: 3

Cryptoknowmics - World's First Decentralized Media

Due to the current market situation I only trust in projects that can provide a working product before the token sale launch. In this point I have a guarantee that such an ICO is not a scam and I would invest in it.

Topic: How to check if ICO is scam or not? - page 16. (Read 17471 times)