Topic: How to check if ICO is scam or not? - page 6. (Read 17430 times)
There is no specific ways to detect ICO scam, the only thing that can serve as hints to know scam Project is to research well on the projects like checking the team, following the project on social media's and checking if the project really have something reasonable to offer.
Indeed no one can find if a ICO is scam or no, and will be hard to know where to invest, better to not invest on ICO and now i think no one will invest on ICO now if IEO appear.
Unfortunately, there is no way to figure out whether an ICO is definitely a scam. But you should do your own research. At least you can reduce your chances of joining a scam ICO thanks to these investigations. Especially the ones I recommend your research are as follows;
1- Investigate the team members of the project. And I would recommend that you check the old projects which that team members worked.
2- Read the project's whitepaper and check the roadmap.
3- Check the project's ICO raitings on ICO evaluation sites.
4- Read the comments of other investors on the social media about the project. Check the answers by the project team members which especially to the criticized parts.
5- And my last advice is that, check the other platforms wich the same vision and purpose as the project. In this way, you can get the average value that the token can reach. And in this way, you can calculate your profits in a more logical way. You shouldn't forget that, you should make the comparison with the total market cap of the platform, not the unit price of the token.
1- Investigate the team members of the project. And I would recommend that you check the old projects which that team members worked.
2- Read the project's whitepaper and check the roadmap.
3- Check the project's ICO raitings on ICO evaluation sites.
4- Read the comments of other investors on the social media about the project. Check the answers by the project team members which especially to the criticized parts.
5- And my last advice is that, check the other platforms wich the same vision and purpose as the project. In this way, you can get the average value that the token can reach. And in this way, you can calculate your profits in a more logical way. You shouldn't forget that, you should make the comparison with the total market cap of the platform, not the unit price of the token.
Check out various aspects. Like the Website display, Whitepaper, and Roadmap project. After that you have to check through the social media accounts they have such as Telegram, Facebook and Twitter. If the project is real of course the social media account is still very active.
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 key is reading in the whitepaper background of the team and the project plans. Read about every detail. You can tell whether it is a scam. Invest in ICOs like NTOK the one i'm campaigning for.
I've been telling people that it's very difficult to know which ICO is actually scam. Reason being that some projects present very good whitepaper and MVP, yet they have no intention of developing a working product and just do away with funds from token sale. But that is not the case always. The very first thing you should research on is the team, how legitimate and real is the team? Can they achieve the project aim? Do they have project backings? What's the vesting period for their own allocation of coins?
I am just reading the whitepaper of a new project and if you have read enough whitepapers, you can determinate a scam project within 5 minutes of reading. In the most cases, team members are just copy pasting things from others.
This is the most challenging part of any project for investors to find out if any project is scam or legit.
Most of the 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 of the thing I have observed that if any product is already existing and through a project they are transitioning 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.
Regulations to cryptocurrency and ICOs is permanent solution to it.
Most of the 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 of the thing I have observed that if any product is already existing and through a project they are transitioning 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.
Regulations to cryptocurrency and ICOs is permanent solution to it.
we don't know whether ICO is scam or not, but in my opinion the way to avoid ICO scam is to try to check their website pages carefully, such as facebook, twitter, team, documents, whitepaper etc.
Bitcointalk forum is best place to judge any ICO's , here you can check the comments of seniors members and other community and also can check the ratting of member who posted thread for ICO's
I looked at various aspects before joining a project or investing.
1. Read whitepaper
2. serach about the project team information
3. find out the project rating
that's a simple things I did before joining a project, but for more details we have to dig more.
1. Read whitepaper
2. serach about the project team information
3. find out the project rating
that's a simple things I did before joining a project, but for more details we have to dig more.
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 must have knowledge about ico first.
if not, you should try to learn and find lots of comparisons of various ico. remember, not all ico will succeed and get success
especially for now, most ico don't have a good idea and potentially the next scam or shitcoin
Check for these key factors:
Technology: The technology that the project is pitching is real or some rocket science.
Team: Is the team real or fake, get along chats and hangout to verify it.
Experience: Do they have enough experience in the current sector to make the project a success in a long run?
Fundraising: Often projects with real team and great ideas fail due to no fundraising, so check if they are backed with good wealthy people to fuel up the fundraising?
Technology: The technology that the project is pitching is real or some rocket science.
Team: Is the team real or fake, get along chats and hangout to verify it.
Experience: Do they have enough experience in the current sector to make the project a success in a long run?
Fundraising: Often projects with real team and great ideas fail due to no fundraising, so check if they are backed with good wealthy people to fuel up the fundraising?
nowadays it's very difficult to find out. because ico runs as usual, the fixed total stake is calculated at the end of the period and then distribution is also carried out. but it has not yet been launched into the market exchange and also the team sometimes still provides information. this is very difficult to predict ...
well, being careful when choosing ICO will certainly be a good thing. sometimes some ICOs make existing projects, moreover a weak team. avoid projects like that. although difficult, I think a project scam will leave a trail that makes people think that is a strange thing.
Honestly for now all the fundamentals before investing on ICIS are useless because most of them are scam or fake and other legit ones will get dump hard when listed on exchanges. Better try your luck on binance launchpad because ICOS that are launching there will give you easy profit.
Scam is real, to be able to determine which that, read and learn thoroughly on the team behind the projects, their whitepaper and social media handles. How the team respond on their social media handles. This for sure will give you a gist into the project. Its takes hard work to do this or else, you will always be scammed.
Its good to research on the project, social media, or whitepaper but its not enough. Its hard to determine a good ICOs or scam ICOs because the whipaper must be very excellent but i think its depend on the developers team. Right now, ICO have competitor like IEO and to survive, ICOs should offering transparancy and good project with working product
nowadays it's very difficult to find out. because ico runs as usual, the fixed total stake is calculated at the end of the period and then distribution is also carried out. but it has not yet been launched into the market exchange and also the team sometimes still provides information. this is very difficult to predict ...
Scam is real, to be able to determine which that, read and learn thoroughly on the team behind the projects, their whitepaper and social media handles. How the team respond on their social media handles. This for sure will give you a gist into the project. Its takes hard work to do this or else, you will always be scammed.
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?
I think because you are new in forum, also new about ICO, you need someone who expert about ICO, maybe your friend, so can help you to choose the right one, Or just invest in major coins like bitcoin, ethereum and many more. And about how to check scam ICO, maybe this thread can help you https://bitcointalksearch.org/topic/icoethics-scam-list-2018-2019-5110020
An ICO whitepaper speak a lot about an ICO but it is quite unfortunate that some white paper are just trash. Advisory and partners of a project also play an important role in very ICO. This can also be avoided by ruling out ICO to IEO.
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