Topic: How to identify a legit ICO from a scam? - page 2. (Read 268 times)
The first thing is idea is it legit or not. The second thing is team. Which is very important for a ICO project. Most of the time you can see the people are same from a previous scam or don't have that much details about members. Which is not good. And the advisory board is equal important for a ICO project to be a good one. In most cases if advisory board is not good enough then you can keep it as a scam. The third thing is whitepaper it is very important. How they made the white paper. If you have experience in this ICO analysis work it will take minutes to catch a scam from whitepaper. But sometimes it's hard and they scammed. If you are new you have to do some serious research fellow r of analysis.
It's really hard to tell you how cause every investor has their own way to detect scam ICO project. For me, I often check team member of every ICO project and their social media account. After that I'll check other part of ICO like WP or roadmap. Beside you also should check their Twitter follower via Twitteraudit, if almost their twitter followers are fake so you should stay away from it 
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) If there is a new ICO and there are hype going around it, how do you tell that i is a legit one and not just a scam?
How to tell if an ICO is a scam?
How to tell if an ICO is a scam?
There are many factors to recognize an ICO scam campaign, especially in this time, when the market weakens, and the exchange rate drops continuously. You need to carefully study the ICO project parameters and find out about the website review before participating in bounty campaigns. And an honest ICO campaign is a publicized spreadsheet about the rewards bounty members can be received.
You will not be able to track it because you will not indicate it anywhere and the best way to determine for yourself whether the project is worthwhile, is to make its analysis, but the analysis of the project also does not give a one hundred percent result.
There are numerous things, that bring red flags to the project. But mostly I just check the team out and possibly do a reverse image search to see if the photos on their ICO landing page are legit or fake. Then I go and have a look at their whitepaper to see, whether it holds any relevant information or just copy/paste from other projects.
Actually to determine the LEGIT or SCAM is quite easy, but I do not guarantee 100% accurate.
You can view the contents of the whitepaper, then see the progress of their social media accounts, then the progress of softcap and hardcap in realtime, and also a roadmap that fits the schedule they specify since the initial launch.
You can view the contents of the whitepaper, then see the progress of their social media accounts, then the progress of softcap and hardcap in realtime, and also a roadmap that fits the schedule they specify since the initial launch.
These days there are a lot of scam icos out there. A very simple way is to have look at the background of the founders and use your brain 
You read the whitepaper, you see the team behind the project. If it's something that has been done before multiple times and it didn't give any success (say a debit card for crypto) or you have the least doubt that they won't manage to deliver, simply don't invest.
I agree to an extent, but not completely. The WP says a lot about the project, the team too, development, planning and road map also. But just because a thing's been tried before and failed doesn't mean the next person doing it is a scam. And for the debit Crypto card you mentioned, I think this is coming soon than later. MFChain, a cryptopayments platform is coming out with something like this and I very certain, they're the farthest thing from a scam you can think of. 
That's a very difficult question. Now there is a lot of fraud in the field of cryptocurrency and IPO! Personally, I have already stopped looking for new ICO projects and buying coins / tokens of promising projects on the stock exchange (in my opinion). Now a bear market and many tokens / coins of good projects can be bought at the price of ICO or even lower.
It is correct, even if we find a good ICO, we still do not have the opportunity to get profit from it with this market. Its price will definitely fall deep when the bear market is too strong
That's a very difficult question. Now there is a lot of fraud in the field of cryptocurrency and IPO! Personally, I have already stopped looking for new ICO projects and buying coins / tokens of promising projects on the stock exchange (in my opinion). Now a bear market and many tokens / coins of good projects can be bought at the price of ICO or even lower.
To be honest, this is quite hard to identify, personally I just go with my guys,it has been wrong before but it has also been right so many times, I do as much research as I can and leave the rest up to date.
I have taken my time to study this very topic very very well and I have discovered two sure ways of identifying scam ICOs, they are not foolproof but they have proven to be effective.
One- THE TEAM: The team of a project usually helps me decided if the project is a scam or not, for example scammers do not want their faces seen and so that avoid conferences and meet-up s and summit, infact anything that would make them show their faces are avoided.
Two- Whitepaper: I know this might sound obvious but it's actually not, studying the whitepaper helps me determine if the project is unique or not, I usually only get involved in unique projects and avoid Rip-offs of other projects, a scam team would just find an existing project and rebrand it, they would not spend the time to bring a unique concept.
Once these two criteria are met, I always know that the project would not end up being a scam project.
One- THE TEAM: The team of a project usually helps me decided if the project is a scam or not, for example scammers do not want their faces seen and so that avoid conferences and meet-up s and summit, infact anything that would make them show their faces are avoided.
Two- Whitepaper: I know this might sound obvious but it's actually not, studying the whitepaper helps me determine if the project is unique or not, I usually only get involved in unique projects and avoid Rip-offs of other projects, a scam team would just find an existing project and rebrand it, they would not spend the time to bring a unique concept.
Once these two criteria are met, I always know that the project would not end up being a scam project.
You read the whitepaper, you see the team behind the project. If it's something that has been done before multiple times and it didn't give any success (say a debit card for crypto) or you have the least doubt that they won't manage to deliver, simply don't invest.
If there is a new ICO and there are hype going around it, how do you tell that i is a legit one and not just a scam?
How to tell if an ICO is a scam?
How to tell if an ICO is a scam?
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