How to detect scam ICOs ? - page 6. | Bitcointalksearch.org

potassium40

newbie

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Quote from: just_Alice on May 20, 2018, 04:21:33 PM

Quote from: cryptomonotize on May 19, 2018, 06:08:06 AM

Hello everyone,
Recently scam ICOs are growing rapidly and it has become a severe problem among the investors and bounty participators. Can you guys please tell me how to detect them ?

Until quite recently you could distinguish between scam and non-scam ICOs looking through their whitepapers and website, but now swindlers have learned to create fake and believable whitepapers and websites. So now to stay safe - always look through the team, if you see that those people took part in other projects, which weren't scams - you can rely on them. And also remember the rule - never invest more money, than you can afford to lose.

Unfortunately, even if you have looked through the whitepaper very carefully, it does not mean that ICO is not a scam. What about talking to people in community?

potassium40

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Quote from: Liquidhero on May 20, 2018, 04:30:49 PM

You have to be very careful and attentive. You should carefully study the information on the project and a white sheet. You need to read the reviews.

I would not trust a brand new ICOs which appeared like a few days ago. You should better wait for somebody to use it and then see

potassium40

newbie

Activity: 85

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Quote from: cryptomonotize on May 19, 2018, 06:08:06 AM

Hello everyone,
Recently scam ICOs are growing rapidly and it has become a severe problem among the investors and bounty participators. Can you guys please tell me how to detect them ?

It is a very hard sometimes even for a really qualified investors, so you question will never get a proper answer as there are many way to define a good ICO

Liquidhero

member

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You have to be very careful and attentive. You should carefully study the information on the project and a white sheet. You need to read the reviews.

just_Alice

hero member

Activity: 1274

Merit: 622

Quote from: cryptomonotize on May 19, 2018, 06:08:06 AM

Hello everyone,
Recently scam ICOs are growing rapidly and it has become a severe problem among the investors and bounty participators. Can you guys please tell me how to detect them ?

Until quite recently you could distinguish between scam and non-scam ICOs looking through their whitepapers and website, but now swindlers have learned to create fake and believable whitepapers and websites. So now to stay safe - always look through the team, if you see that those people took part in other projects, which weren't scams - you can rely on them. And also remember the rule - never invest more money, than you can afford to lose.

BattleZeo

member

Activity: 350

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Global loyalty & rewards

Quote from: cryptomonotize on May 19, 2018, 06:08:06 AM

Hello everyone,
Recently scam ICOs are growing rapidly and it has become a severe problem among the investors and bounty participators. Can you guys please tell me how to detect them ?

1) Cheap Website
2) Any problems with Linkenid from CEO
3) Bad photos of the team
4) The idea is described without details
5) The ICO name has the word " Crypto"

cryptojackny

newbie

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It is really being a challenge in coming days. But I think @katelynsk has cleared the point nicely. I believe following the instructions, you can detect the scam ICOs.

digol

newbie

Activity: 196

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very interesting and relevant topic. I will be grateful to everyone for useful advice. I myself do not know how to distinguish scammers, I hope that I come across honest bounty company.

adarwis

sr. member

Activity: 560

Merit: 251

Almost nothing is sure to detect a scam project, sometimes some projects that we think are scam, it is very profitable, and vice versa, some projects that we think good, it turns out a scam

jgaspar

member

Activity: 239

Merit: 10

This is not always so simple, as it appears to be... Sometimes a scam ICO is doing all the things willingly to show themselves as good one

parkraol

newbie

Activity: 658

Merit: 0

This is my investigation to detect or prevent scam ICO.

The team behind it.
What is the product/project all about.
Transparency
Realistic answers from questions
Exposure to events/ Blockchain summit
None/poor advisors, it might be a scam.

When the project already has a solid company or partnerships its absolutely not a scam.

Lindell

jr. member

Activity: 518

Merit: 1

There has been a lot of scams ICO. Sometimes reading their whitepaper and website is not enough to detect which one are legit. In my observation most of the legit ICO has lots of exposure and theyre attending or meeting up Blockchain summits and events. Of course I do not forget to pray first, asking God which are not scam ICOs?

trobbert

member

Activity: 462

Merit: 10

Methods of fraud are diverse: from elementary fake projects that disappear after a successful ending to phishing tricks and hacking. Initially, you need to understand - ICO is a high risk. Always look at the design of the project site, assess the feasibility of the project, check the legal entity

bitcointemon

newbie

Activity: 150

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it is very difficult to determine the ICO scam or not because many ICO make a website or white paper perfectly, for that I suggest if you want to invest in ICO should first see how its development while joining the telegram and see who the team who are in the project

spadormie

sr. member

Activity: 840

Merit: 268

To detect scam icos it is so much better if you try to look for the project itself. If it sounds like a fraud or anything that is not attainable, then stay away automatically. It's hard to give a lot of trust for that.

Mrs Troll

full member

Activity: 322

Merit: 102

In addition to everything that was suggested before me I would like to share this service - https://icocheck.io/ People are submitting all found info through github and try to create a full picture of top projects with "real" advantages/disadvantages. Anyone can suggest his thoughts, this is one of the best ways to check a project.

seandiumx20

full member

Activity: 312

Merit: 109

arcs-chain.com

Quote from: cryptomonotize on May 19, 2018, 06:08:06 AM

Hello everyone,
Recently scam ICOs are growing rapidly and it has become a severe problem among the investors and bounty participators. Can you guys please tell me how to detect them ?

First of all ask them if they're trying to scam people. Second ask them a proof or legitimacy of the project. Inspect the white paper and the term of use of the site of the project. background check the developer team of the project, ceo, co founder , business management, advisors and managers etc.

Ctn

sr. member

Activity: 644

Merit: 259

Quote from: cryptomonotize on May 19, 2018, 06:08:06 AM

Hello everyone,
Recently scam ICOs are growing rapidly and it has become a severe problem among the investors and bounty participators. Can you guys please tell me how to detect them ?

There is no solid method to find scam ICO's and many times we can just analyse them depending upon the basic stuff like their whitepaper, roadmaps and different documents that they provide. This gives us idea about their vision, project idea and how unique the project is! If it is unique one and never had been over the market then it becomes little promising but not 100%.

You can do checkout different aspects of the ICO during its bounty programs. I mean whether the project is getting huge buzz or not, whether their social channels are getting natural response or not and many stuff like that can define their confidence. Thus, you have some option to look after but they dont guarantee the 100% legit identification. Good luck.

mrox2011

newbie

Activity: 181

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Quote from: pstraene on May 19, 2018, 01:33:01 PM

today it is very difficult to recognize Scam Ico. first comes the pre-sale. then they have some money and make big advertising for the ICO. they buy good websites and people think it is a great project. all people buy this token and a hype arises. so quickly 20-30 million dollars come together. and when ICO is finished they disappear with the money and write.....we have been hacked Grin

This is the saddest truth of the new ICO's. I'ts hard to predict on some token how they going to be on the market Sad

Fenderr

jr. member

Activity: 293

Merit: 4

Quote from: katelynsk on May 19, 2018, 01:12:03 PM

There is no single strategy for accurately detecting fraud. But you can avoid very dubious ones. Pay attention to the following things:
- MVC – it's good is a team is already working on a product.
- Team – read about their previous projects, skills. Communicate with them directly to know them better.
- Advisors – they should have some experience in ICO projects and good reputation.
- Whitepaper – technical details credibility, reliability of estimates, absence of excessive expectations. Perspective of the idea itself. If you do not understand this yourself, contact the expert.
- Advertising and scale of the project. Pay attention to how much effort and money the team spent on the project. How long-term are their plans. How many languages are supported, how wide the audience is covered, how active the team interacts with users.

Not a single manual available but as you stated above, a great deal of DYOR and praying for luck because a project can tick all the right boxes and yet don't well when its coin hits the exchanges. Again, it's hard to tell which projects are genuine or scam. Good luck to us all

Topic: How to detect scam ICOs ? - page 6. (Read 522 times)