How to check if ICO is scam or not? - page 18.

UniversityCoin

full member

Activity: 714

Merit: 101

Quote from: cryptonerd42 on February 19, 2018, 07:00:35 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 it is very difficult to find fraudsters, because they are almost no different from normal projects. I am guided by whether information on the amount of investment collected is freely available, and whether it is possible to check this yourself at the smart contract address.

pandanaran

full member

Activity: 1048

Merit: 101

Before joining ICO there were several ways to find out the good characteristics of ICO, namely by looking at credibility, website, team, mission vision and distribution of tokens from these elements if they were presented with a very good possibility of ICO. Not only beginners who experience difficulties, even seniors are still many who are trapped, because it is difficult to guess. But if we continue to analyze properly, it is not impossible to find it.

maianh09

full member

Activity: 672

Merit: 100

Checking the authenticity of any ICO project is difficult. I believe in ICOs projects that are supported by celebrities or get support from famous exchanges. Choosing these ICOs will help you reduce your risk, and I am sure that these projects are 100% profitable.

JumperX

hero member

Activity: 672

Merit: 503

In the event that there no white paper, or they will discharge it later, hold up untill its out. Serious venture dependably have their whitepaper before they begin or advance for the ICO. In the mean time you can do a few investigates about the ICO team. Look what other individuals think on wire or on this gathering. For the most part when it is a trick venture, you will know it quick when you looking at this gathering.

Danumsigwasan

member

Activity: 257

Merit: 13

I am from Forex world.

I believe it’s BETTER that we check up with the RIGHT options instead of worrying about WRONG options. I am not an expert and neither have I done extreme level of research to put down things with GUARANTEE.

However, I can only SUGGEST checking Cyptolinks, with their Upcoming ICOs sites, as that’s where you can find the right options easily. And that pretty much solves the issue most face. Now some may ask I simply want to know status of that said coin, I believe you should NEVER invest into one that’s unknown!

blockchain2k

member

Activity: 420

Merit: 44

Quote from: GBCrypto1 on February 19, 2018, 07:17:57 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.

I agree on these points, but I would like to add that not every great project had big people as advisers. It is more about the demand for the product/service the project is going to provide, the quality of the whitepaper and the competence of the team.

monster2

jr. member

Activity: 448

Merit: 5

For identifying if ico are scam or not is not difficult if you know how it works, you can have research or have some studies about the project team as well the whole company to insure if it legit or not.

5thFear

full member

Activity: 1260

Merit: 102

There is no hard and fast rule. All you do is to study the qualification of the team and check their portfolios on Linkedin etc. And if you get any doubt about their qualification, then it means its a scam.

949miner

sr. member

Activity: 448

Merit: 250

Stake & Vote or Become a IoTeX Delegate!

Checking if an ICO is a scam or not does not have a specific guideline or underlining features that categorizing the project to be either scam or not. It will be better to invest into ICO project with workable products backing it. But I will also advice you to spend some time to read about the ICO project and understand the purpose of it before you decide to invest your hard earned income into it. You can easily lose your money within the matter of seconds.

Felipeo

sr. member

Activity: 476

Merit: 262

EOSABC

The only way to know that a project is scam or not is knowledge. You have to know how to detect good ico. For that you have to choose one ico then first you have to check the information like team, project summary, website, total allocation, allocation for team marketing strategy and partnership. Then you have to crosscheck them. There is many website who provide this kind of information. Icoanalyctic is the best for that in my opinion. Then you have to read white paper this is the most important part. You have to read it carefully have to check strategy and the roadmap. And last it is really hard to identify good project sometimes. So just do your own research don't go with others peoples trash talk.

Haxor321

sr. member

Activity: 489

Merit: 250

To check if ICO project is scam or not, you better check and read every detail in the whitepaper, websites and the team members who are taking part of the project because some of the members in a project is using fake identities.

jrrsparkles

sr. member

Activity: 2436

Merit: 272

Eloncoin.org - Mars, here we come!

If your are very new here then you may need to visit all boards of this forum to get an idea how to do something and also try to use Search on the upper right corner of forum window.

This might help you : Guidelines, how to spot a scam ICO & report effectively. ✔

Jenkins33

member

Activity: 194

Merit: 10

Quote from: cryptonerd42 on February 19, 2018, 07:00:35 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?

Scammy ICO generally does not provide any information about the development team, or there is very little information. Therefore, first of all it is necessary to study the information about the project team.

ansarose1

member

Activity: 784

Merit: 10

I probably think to know an ico scam is too briefly research about the project, see to it that it is a legit project and the members are trustworthy. Visit their site if it is genuine and not a copy paste.

CoinsOrDie

full member

Activity: 448

Merit: 100

No need to learn and select. Right now I believe that 99% of ICO here is a scam, if you are still interested in investing in ICO, please watch Binance and buy ICOs run there.

efrenbilantok

member

Activity: 576

Merit: 39

There is already a posted guidelines to spot a scam ICO's
And here it is: https://bitcointalksearch.org/topic/guidelines-how-to-spot-a-scam-ico-report-effectively-5004397 by Coolcryptovator
Be sure to read every piece of words that you are going to see in the post,
with these things getting into a consideration you will be more likely to avoid Scam ICO's that you will encounter in the future.

DZU1410

sr. member

Activity: 462

Merit: 250

https://saturn.black

Quote from: cryptonerd42 on February 19, 2018, 07:00:35 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?

In any case, you will suffer some losses, without this you can not do, there is no way to 100% determine the scammers or not, but certain parameters are simply necessary to view, and they each have their own.

binhvo1505

member

Activity: 728

Merit: 11

https://streamies.io/

Quote from: cryptonerd42 on February 19, 2018, 07:00:35 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?

You should check carefully for its team, roadmap and partner. Besides, ICO projects are too ambitious and too hardcap and softcap will not be a reliable project.
Usually scam projects put out very hardcap and softcap. Please check it carefully and go to the Icodrops website for more details.

OptimusPrime_3

jr. member

Activity: 308

Merit: 1

To know a scam project, you will have to make too many Enquiries and ask too many questions about the project. You need to make a lot of research in general

anatolij.shishkin

copper member

Activity: 995

Merit: 1

You can’t check it out. Because most of the fraudsters cheaters. They use advertising tricks, make good websites, show that they have already collected a lot of money.

Now it is too difficult to cure a quality project from fraudsters.

Topic: How to check if ICO is scam or not? - page 18. (Read 17431 times)