Topic: How to check if ICO is scam or not? - page 9. (Read 17471 times)
In this space, when it comes to ICO nothing is certain, but one sure thing that I have always used to a kid exit scams is the team, projects with very visible teams that attend blockchain events are less likely to exit scam.
I think the best way to know if an ICO is fake or not, is to check if they actually have any team members or developers on their website. The concept of the project is also a good place to start with.
Look at the composition of the team, the idea of the project and the whitepaper. The team should include strong developers. Whitepaper does not contain water. And the idea is either innovative or breakthrough in its field.
Checking the strength of a project is very difficult, I hope that today people have already learned how to do something like that, so it seems to me that today we need to try to do it more and more often. Because there are not so many projects.
So, if you really think that it is too hard for you to assess quality of ICOs, and not sure that it is scam or not, you should not invest into any ICO.It will better for you if you wait longer for those ICOs grown and developed some months to verify their quality.
Hurry usually don't help investors to get good returns, instead more risks to lose due to wrong investments into bad projects.
Checking the strength of a project is very difficult, I hope that today people have already learned how to do something like that, so it seems to me that today we need to try to do it more and more often. Because there are not so many projects.
I think everyone has their own way. I think so. No money to run a good site means you do not have a product. Are you all perfect? it means that you are a fraud who wants more investment and just tried the documents. Everything is simple and difficult.
If the site is bad, I refuse. if the idea is bad, I refuse. If it is exchanged with a bad site, I refuse. Now it is difficult to find a good project but you need to know the managers from whom you take them. Mean what the project think. Invest in others or not.
First of all you can check the team. How strong and reputed the team is. You can cross-check their profile in the internet so as to ensure that they are not faking anything. You can also view their website and whitepaper. What is their aim and what are their goals. Whether their goals are practical. These things should be taken into consideration.
You can also read ANN of the new project to view what comments have been made about the project. These are the ways I think.
You can also read ANN of the new project to view what comments have been made about the project. These are the ways I think.
Checking their team IDs, backgrounds, and past history on scam or achivements may help a lot.
Some scammers or scam teams tend to create scam by scam.
So, if you can catch them via their past scam projects, you can avoid falling in their newly trapped scam ones.
Some scammers or scam teams tend to create scam by scam.
So, if you can catch them via their past scam projects, you can avoid falling in their newly trapped scam ones.
The problem is that some scam ICO are very professional and is quite hard to be identified as scams.
However, here you jave some key points to take care:
- Whitepaper
- milestones already passed
- team to be verified
- social media activity
- references on other well known sites.
However, here you jave some key points to take care:
- Whitepaper
- milestones already passed
- team to be verified
- social media activity
- references on other well known sites.
Only a good research can help you with choosing an ICO project. You must get information about heads of the project.
Some of the projects outhere are not scam but a failed developed project with no active team. It hard to say all project as a scam because in these day some of the project has being failed to raise enough money to survived in this bad market. Avoid any fast rich scheme offer by fake team or a bad white paper that only haa being copy paste by other project. Im alway pick one to five project only to join and always to join in their telegram so i can know what are their progress in any time.
Failed projects are not too bad, but it will only become scam projects if they run crowdsale, collect money, and run away, without any developments.If projects really developed, but months or years later, they failed and bankcrupted, it is acceptable.
It is the same as startup in real life, not mention about crypto startups.
They born, grown, and die, and there are very limited projects that can really matured and become successful years later their start days.
right now a lot of people are panicking when they see the condition of the token prices not in accordance with ICO prices or not as expected, and when you get like that what you need is just waiting until the projects they develop can be implemented and can be used as solutions by many people it will make the price of the token expensive than the previous price.
Shitty tokens and shitty altcoins will die off over time.It is a toughly truth that investors who invested into poor quality projects have to accept.
It's hard for them to accept their faults and their losses, but they have to do accept sooner or later and take it as lesson for their later investments.
right now a lot of people are panicking when they see the condition of the token prices not in accordance with ICO prices or not as expected, and when you get like that what you need is just waiting until the projects they develop can be implemented and can be used as solutions by many people it will make the price of the token expensive than the previous price.
Shitty tokens and shitty altcoins will die off over time.It is a toughly truth that investors who invested into poor quality projects have to accept.
It's hard for them to accept their faults and their losses, but they have to do accept sooner or later and take it as lesson for their later investments.
Just because a coin drops in price doesn't mean it is a scam. This is what annoys the hell out of me, projects can legitimately fail because competition is too fierce or there just isn't enough demand for it. Of course there are the obvious exit scams but those should be categorized differently.
right now a lot of people are panicking when they see the condition of the token prices not in accordance with ICO prices or not as expected, and when you get like that what you need is just waiting until the projects they develop can be implemented and can be used as solutions by many people it will make the price of the token expensive than the previous price.
The first thing I do is check if it's a project listed on ico drops review website but if its not, then I go ahead to carry out my due diligence but checking out the team on LinkedIn to verify their authenticity before going further
Just because a coin drops in price doesn't mean it is a scam. This is what annoys the hell out of me, projects can legitimately fail because competition is too fierce or there just isn't enough demand for it. Of course there are the obvious exit scams but those should be categorized differently.
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 tell the truth, there is no 100% reliable method to flag the scam projects. But from my experience, I would say that projects originating from countries with strict crypto regulation, such as Japan, South Korea, Germany and Singapore are less likely to be run by scammers. Also, avoid projects in which the promoters are anonymous.
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 tell the truth, there is no 100% reliable method to flag the scam projects. But from my experience, I would say that projects originating from countries with strict crypto regulation, such as Japan, South Korea, Germany and Singapore are less likely to be run by scammers. Also, avoid projects in which the promoters are anonymous.
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 a whitelist, video explanation, team, advisors, ratings and social medias. Good ICO's also have a very fast crowdsale and top-exchange listing. But anyway you have to remember that cryptoinvestment always has a risk. Jump to: