Topic: How to check if ICO is scam or not? - page 3. (Read 17482 times)

Well, Vespucci is a new system, that monitors the evolution of blockchain and cryptocurrency markets and delivers unbiased, robust and up-to-date rankings that represent the real value of a very wide spectrum of coins as well as their potential. I recommend you just to Google Vespucci, they are pretty popular. And examine their website, of course

Can you tell me more about what they are doing? Kinda in more details. Coins analysis?

Not sure whether there are different solutions, however I know the most advanced one. They are using exactly what you have mentioned - AI, machine learning and other advanced solutions to build objective overview. Called Vespucci. You must have heard of them if you are deeply into Crypto

Makes sense. So something artificial intelligence and machine learning to analyze everything. But are there such solutions on the market already? Are you aware?

Morning there. Yes, this is true. I would also say that today not everyone can evaluate and rationally recognize one or another project, you are right. So probably only automated solutions that analyze the coin, big data with the use of latest technology can make us sure in one or another solution

As I see, it requires pretty deep analysis and you know, not everyone can do it today. Cause we basically choose the projects based of friends' recommendation etc, however, of course, we must be more objective

First you need to check the whitepaper they have if it is original then their team behind must also true and not fake. See if the usages of their token is attainable and realistic for the community target of the project, then look at the allocation budget for the bounty, if they have an escrow it is an advantage but not necessary needed, however, having a good reputation of the bounty manager is also a advantage too. And most of all they must trustworthy.

What must be seen is of course development, vision, team, transparency. All of that is the beginning of our trust towards a project that conducts ICO. Because, nowadays there are still many ICOs who are scam or not trusted. So from that transparent to investors is very necessary so that trust grows for us to invest in the ico.

Currently ICO projects are not reputable and investment will come with 50% risk. means scam rate up to 50%! That is a terrible number. so you should only invest in IEO projects. Those projects are verified by exchanges in terms of prestige as well as potential.
You should buy tokens at exchanges like Okex, BNB, Huobi, Coineal, IDAX. These are reputable exchanges.

Today, its very difficult to find legit projects. We have to keep away ourselves from scam projects.At the beginning of any project, it's really difficult to identify if the project is scam or legit.
Many times we get attracted and inspired by the project idea, it's website, and very large number of community members in telegram.
Now a days every system, idea, concept can be transformed into blockchain technology ecosystem. It's very much possible to design a very good looking website with lot of graphics in it. I have seen there are thousands of boots possible in telegram community.
So if we feel the project is good, we have to get ourselves engaged daily in community discussions. This will keep us updated about project specifically the development part. We also consider at what stage product development is.
If we have technical knowledge (I don't have), GitHub code also can give better idea about project. One example I can give here is MultiVAC. I am engaged in this project so much and due to that get updated on their daily development updates, team members information, any events they have and so on.
One of the thing I have observed that if any product is already existing and through a project they are migrating to blockchain technology, it's most likely genuine project. For example, Bankera.
There are many other factors which  can be checked to know if any project is good by or not.
I see a solution to scam projects, Regulations to cryptocurrency and ICOs. Hope the situation will be better in near future.

actually, it is very difficult to know that, because sometimes someone's intentions arrive when funds have been collected. however, sometimes a number of projects also appear to be clearly scam, even more so they promise lots of bonuses, with very easy things. sometimes the team also consists of edited photos. for whatever, we can know that except doing in-depth research.

For now checking between ico is deceptive or not very difficult. because most ico are also not transparent. the easiest thing is checking the team. are they fake or not. this is the first step before going to the others. make sure they are authentic. because scammers usually fake their team.

as I said, we don't know exactly which is a real ico project and scam. then how do you know and avoid it?
yes right, investing in ico, sto, ieo if we think back it does look like we are gambling, the purpose is getting profit or loss, you are right.

It would do well to remind people also that authenticity of the project does not really say much about the intention to scam or not. If I were a scammer, I'd want to create an authentic project. An actual white paper, an actual blockchain even an actual product that works, etc. The more I give people to see and use, the more they will invest.

It's really important to try and see past the hype and get a sense of the developers and community, if they're real, or if they're just on for the ride.

at least we can avoid those who have fake teams and models. because it's definitely a scam project. and we can focus more on projects that look promising even though we don't necessarily avoid fraud. isn't it like that we like gambling in choosing projects?

As of my experience, checking linked in profile, facebook and twitter will not going to prove anything, the scam and scammers will going to be able to easily set up their account, its upon their responsibility to manage it by their own, though, what we can do better is to see the community, if it was active and with real members.

honestly, it's very difficult to know whether the ICO is scam or not. a lot of team profiles and website appearances look promising and can be trusted but in fact we are fooled. whatever advice it will definitely not be effective.

Many things must be checked to ensure that the ICO is an ICO scam or not, first look at the project details through a roadmap, after you read it whether the project is reasonable or not, then look at the team behind it, whether trusted or not

Actually, ICO real or fake is a bit difficult to understand. But if we try a little bit, we can easily understand the ICO real or fake. To understand ICO real or fake, first ICO's white paper will be examined thoroughly. Also, see ICO's reviews. Many more ICO real or fake is understood. One must check all the way.
But almost all the ICO scams today. So real ICO knows it's a lot harder to do.

Thank you

Honestly it is hard to find out what is the real ICO or scam many of some investors are resting of investing on ICO because lots of scam ICO are scattered here in crypto space, for me i always look at the team background if they have bad reputation and their documents should be complete.