Topic: how to identify ICO scam ?! some important tips ! (Read 654 times)
There are indeed many ICO scams in reality. I personally think that identifying ICO scams is a very important first step in determining the success of an investment. Before investing, you must carefully read the white paper of the ICO project, check the authenticity of the team, the legality of the ICO project, and carefully evaluate it. The prospect of the ICO project, I hope that the cryptocurrency market can set up a regulatory body to strengthen the supervision of ICO projects.
Good list, but it doesn't really end there.
Since there are ICOs that start off legit, but end up being just a scam because the developers just don't do anything anymore to develop the token, Or that after the ICO it just straight off losses the value and the developers again stop developing the token because of that fact. Base on my experience Scam ICO is will be known if there is no assurance like how can a project run smoothly if it is listed and how can the platform be able to function as what it is, there are so many ICO which produces lots of FUDs saying that project will be to the moon LOL, isn't it too obvious? Part of marketing.
Thanks for your tips, and also, we need to be really carefull before starting investing in new ICOS.
Since there are ICOs that start off legit, but end up being just a scam because the developers just don't do anything anymore to develop the token, Or that after the ICO it just straight off losses the value and the developers again stop developing the token because of that fact. Base on my experience Scam ICO is will be known if there is no assurance like how can a project run smoothly if it is listed and how can the platform be able to function as what it is, there are so many ICO which produces lots of FUDs saying that project will be to the moon LOL, isn't it too obvious? Part of marketing.
Thanks for your tips, and also, we need to be really carefull before starting investing in new ICOS.
Thank you for good tips. I have never systemized mine method but I think it is similar to yours. First of all I have to like the Theme and the main idea of particular project in order to invest in it. The protection is also on my priority list.
Deciding if ICO is a scam I always try to see not just a whitepaper and information about new ideas that are offered. It is much more necessary to me know who are organizers and supporters of the project.
Take on the "4T" scheme: Theme, Tech, Team, Token !
1.Theme
To begin with, you need to evaluate the promise of the very idea of ICO. If you are not an expert, it will be difficult to do this. But it is possible to find signs of fraud even without profound knowledge in the field of blocking:
Go to the ICO website and see if White Paper developers have posted a project roadmap. If not, the startup can be immediately struck out.
If there is documentation, study it carefully. Honest developers try to explain in detail their idea and ways of its implementation, using not only text but also tables, graphs, charts and other demo material for this purpose.
2.Technology
It is even more difficult here - one needs to evaluate the promise not of the idea itself, but of the technology created for its realization. And even a well-written road map or White Paper will not help you to objectively assess the strengths and weaknesses of the advancing technology.
Lack of contacts for communication, ignoring your appeal or a template response not on the topic - alarm clues, indicating fraud.
After all, developers who plan not only to raise money, but also to start the project, are themselves interested in the fact that potential investors received as much information about the startup.
3.Team
always look for information about the team on the ICO website. Most often it is placed in a separate section ("Team") or placed at the bottom of the page in the format "photo-name-post in the project".
Good teams themselves talk about themselves. On their sites you will find short biographies of developers, information on their education, career advancements and experience with blockade projects.
Check out all the specified contacts of team members
Find the legal address on which the company is registered and verify its authenticity
4.
Open the appropriate section (most often called "Token" or "Token Economy") and find the information
And be sure to pay attention to the main thrust, due to which many investors lost their money. Is there any information on the site that issued tokens are not a digital currency and do not carry any real value, and developers are not obliged to change them on crypto currency or fiat money?
If you find such an announcement, save your money for another project.
GOOD LUCK !!!
Yes, this is really a good strategy that can help not get into the hands of crooks and choose good ICOs. This information will be particularly useful for beginners who are just starting their way into the crypto world.1.Theme
To begin with, you need to evaluate the promise of the very idea of ICO. If you are not an expert, it will be difficult to do this. But it is possible to find signs of fraud even without profound knowledge in the field of blocking:
Go to the ICO website and see if White Paper developers have posted a project roadmap. If not, the startup can be immediately struck out.
If there is documentation, study it carefully. Honest developers try to explain in detail their idea and ways of its implementation, using not only text but also tables, graphs, charts and other demo material for this purpose.
2.Technology
It is even more difficult here - one needs to evaluate the promise not of the idea itself, but of the technology created for its realization. And even a well-written road map or White Paper will not help you to objectively assess the strengths and weaknesses of the advancing technology.
Lack of contacts for communication, ignoring your appeal or a template response not on the topic - alarm clues, indicating fraud.
After all, developers who plan not only to raise money, but also to start the project, are themselves interested in the fact that potential investors received as much information about the startup.
3.Team
always look for information about the team on the ICO website. Most often it is placed in a separate section ("Team") or placed at the bottom of the page in the format "photo-name-post in the project".
Good teams themselves talk about themselves. On their sites you will find short biographies of developers, information on their education, career advancements and experience with blockade projects.
Check out all the specified contacts of team members
Find the legal address on which the company is registered and verify its authenticity
4.
Open the appropriate section (most often called "Token" or "Token Economy") and find the information
And be sure to pay attention to the main thrust, due to which many investors lost their money. Is there any information on the site that issued tokens are not a digital currency and do not carry any real value, and developers are not obliged to change them on crypto currency or fiat money?
If you find such an announcement, save your money for another project.
GOOD LUCK !!!
This tips will help young investors and crypto enthusiasts in order not to be the victim of ICO scam and fraud because it's too painful that we lose our hard-earned money than just giving it to scammers for no reason.
crypto investing is one of the most profitable in this generation but it requires hard decisions in order to invest on the right ICO or altcoins in order to get higher return of investments.
there are too many tips on how to spot scam and fraud ICOs but it's depends on the experience.
That's why I never invest on ICOs because not all ICOs will hit coin exchanges and coinmarketcap.com.
for me, when telegram channel has no admin or no community managers or there are less active members then that's the red flag that they are scammers.
That's why I never invest on ICOs because not all ICOs will hit coin exchanges and coinmarketcap.com.
for me, when telegram channel has no admin or no community managers or there are less active members then that's the red flag that they are scammers.
Take on the "4T" scheme: Theme, Tech, Team, Token !
1.Theme
To begin with, you need to evaluate the promise of the very idea of ICO. If you are not an expert, it will be difficult to do this. But it is possible to find signs of fraud even without profound knowledge in the field of blocking:
Go to the ICO website and see if White Paper developers have posted a project roadmap. If not, the startup can be immediately struck out.
If there is documentation, study it carefully. Honest developers try to explain in detail their idea and ways of its implementation, using not only text but also tables, graphs, charts and other demo material for this purpose.
2.Technology
It is even more difficult here - one needs to evaluate the promise not of the idea itself, but of the technology created for its realization. And even a well-written road map or White Paper will not help you to objectively assess the strengths and weaknesses of the advancing technology.
Lack of contacts for communication, ignoring your appeal or a template response not on the topic - alarm clues, indicating fraud.
After all, developers who plan not only to raise money, but also to start the project, are themselves interested in the fact that potential investors received as much information about the startup.
3.Team
always look for information about the team on the ICO website. Most often it is placed in a separate section ("Team") or placed at the bottom of the page in the format "photo-name-post in the project".
Good teams themselves talk about themselves. On their sites you will find short biographies of developers, information on their education, career advancements and experience with blockade projects.
Check out all the specified contacts of team members
Find the legal address on which the company is registered and verify its authenticity
4.
Open the appropriate section (most often called "Token" or "Token Economy") and find the information
And be sure to pay attention to the main thrust, due to which many investors lost their money. Is there any information on the site that issued tokens are not a digital currency and do not carry any real value, and developers are not obliged to change them on crypto currency or fiat money?
If you find such an announcement, save your money for another project.
GOOD LUCK !!!
Yes, this is really a good strategy that can help not get into the hands of crooks and choose good ICOs. This information will be particularly useful for beginners who are just starting their way into the crypto world. 1.Theme
To begin with, you need to evaluate the promise of the very idea of ICO. If you are not an expert, it will be difficult to do this. But it is possible to find signs of fraud even without profound knowledge in the field of blocking:
Go to the ICO website and see if White Paper developers have posted a project roadmap. If not, the startup can be immediately struck out.
If there is documentation, study it carefully. Honest developers try to explain in detail their idea and ways of its implementation, using not only text but also tables, graphs, charts and other demo material for this purpose.
2.Technology
It is even more difficult here - one needs to evaluate the promise not of the idea itself, but of the technology created for its realization. And even a well-written road map or White Paper will not help you to objectively assess the strengths and weaknesses of the advancing technology.
Lack of contacts for communication, ignoring your appeal or a template response not on the topic - alarm clues, indicating fraud.
After all, developers who plan not only to raise money, but also to start the project, are themselves interested in the fact that potential investors received as much information about the startup.
3.Team
always look for information about the team on the ICO website. Most often it is placed in a separate section ("Team") or placed at the bottom of the page in the format "photo-name-post in the project".
Good teams themselves talk about themselves. On their sites you will find short biographies of developers, information on their education, career advancements and experience with blockade projects.
Check out all the specified contacts of team members
Find the legal address on which the company is registered and verify its authenticity
4.
Open the appropriate section (most often called "Token" or "Token Economy") and find the information
And be sure to pay attention to the main thrust, due to which many investors lost their money. Is there any information on the site that issued tokens are not a digital currency and do not carry any real value, and developers are not obliged to change them on crypto currency or fiat money?
If you find such an announcement, save your money for another project.
GOOD LUCK !!!
Take on the "4T" scheme: Theme, Tech, Team, Token !
1.Theme
To begin with, you need to evaluate the promise of the very idea of ICO. If you are not an expert, it will be difficult to do this. But it is possible to find signs of fraud even without profound knowledge in the field of blocking:
Go to the ICO website and see if White Paper developers have posted a project roadmap. If not, the startup can be immediately struck out.
If there is documentation, study it carefully. Honest developers try to explain in detail their idea and ways of its implementation, using not only text but also tables, graphs, charts and other demo material for this purpose.
2.Technology
It is even more difficult here - one needs to evaluate the promise not of the idea itself, but of the technology created for its realization. And even a well-written road map or White Paper will not help you to objectively assess the strengths and weaknesses of the advancing technology.
Lack of contacts for communication, ignoring your appeal or a template response not on the topic - alarm clues, indicating fraud.
After all, developers who plan not only to raise money, but also to start the project, are themselves interested in the fact that potential investors received as much information about the startup.
3.Team
always look for information about the team on the ICO website. Most often it is placed in a separate section ("Team") or placed at the bottom of the page in the format "photo-name-post in the project".
Good teams themselves talk about themselves. On their sites you will find short biographies of developers, information on their education, career advancements and experience with blockade projects.
Check out all the specified contacts of team members
Find the legal address on which the company is registered and verify its authenticity
4.
Open the appropriate section (most often called "Token" or "Token Economy") and find the information
And be sure to pay attention to the main thrust, due to which many investors lost their money. Is there any information on the site that issued tokens are not a digital currency and do not carry any real value, and developers are not obliged to change them on crypto currency or fiat money?
If you find such an announcement, save your money for another project.
GOOD LUCK !!!
Pretty good plan, you need to check, but I would be here even added a prologue, something like "history of ideas", or another way as it is called. 1.Theme
To begin with, you need to evaluate the promise of the very idea of ICO. If you are not an expert, it will be difficult to do this. But it is possible to find signs of fraud even without profound knowledge in the field of blocking:
Go to the ICO website and see if White Paper developers have posted a project roadmap. If not, the startup can be immediately struck out.
If there is documentation, study it carefully. Honest developers try to explain in detail their idea and ways of its implementation, using not only text but also tables, graphs, charts and other demo material for this purpose.
2.Technology
It is even more difficult here - one needs to evaluate the promise not of the idea itself, but of the technology created for its realization. And even a well-written road map or White Paper will not help you to objectively assess the strengths and weaknesses of the advancing technology.
Lack of contacts for communication, ignoring your appeal or a template response not on the topic - alarm clues, indicating fraud.
After all, developers who plan not only to raise money, but also to start the project, are themselves interested in the fact that potential investors received as much information about the startup.
3.Team
always look for information about the team on the ICO website. Most often it is placed in a separate section ("Team") or placed at the bottom of the page in the format "photo-name-post in the project".
Good teams themselves talk about themselves. On their sites you will find short biographies of developers, information on their education, career advancements and experience with blockade projects.
Check out all the specified contacts of team members
Find the legal address on which the company is registered and verify its authenticity
4.
Open the appropriate section (most often called "Token" or "Token Economy") and find the information
And be sure to pay attention to the main thrust, due to which many investors lost their money. Is there any information on the site that issued tokens are not a digital currency and do not carry any real value, and developers are not obliged to change them on crypto currency or fiat money?
If you find such an announcement, save your money for another project.
GOOD LUCK !!!
If an ICO does not filter their investors and just let anyone buy their tokens then it's just a scam. I highly believe that an ICO who only allows credible investors and knows about their project are the real ones.
That is not true. There have been a lot of successful ICOs that did not discriminate on who can invest, but they turned out to be fine! The basis is not who can and cannot invest. It is basically the totality of the ICO. It should be based on whether the project really has some true purpose and the people behind it are real people that are legitimately creating a good project. I've seen so many ICOs that even fail to deliver a purpose, those are clear scams. Some though are hard to determine if they are scams. Some are quite good on paper, and the people behind it seemed legit, but in the long run it turns out to be a scam.
Carefulness is the thing that matters. You should mind what kind of ICO you’re investing on and know how their team works and how they provide service to their customers.
Sometimes I do see some people saying that an ICO requires a team that makes use of Telegram, and that if an ICO has Telegram then it is not a scam. But I don’t believe that, because even scammers do make use of Telegram too. They can decide to use it to distract those that believes in that and then use it to rip them off of their money and after they doing it, they will change their name everywhere, including on the bitcointalk.org forum.
Great thanks for your share at all. I have a bit different look as this: I found there are many ICOs with very high Airdrop ( upto $30-$40_$50 & even more) just for joining some social networks, could we trust in them? I am a newbie to crypto, an I see it is not very believable.
Airdrops really big trap to collect the data about you. Most of airdrops are going like that. If you want to make money on please check the manager who is part of bounty and join in that campaign.
It will be really helpful way to find the more money because the project knowledge very much understanding about ICO and all will allow us to make money. If you join telegram campaign that is very much easy way to get the tokens.
Thanks bro, as mentioned above I am a newbie so I have registered many Airdrops by joining Telegram/Twitter/Facebook ... and most of things I have got are rubbish. I will follow your suggestions and hope I would get something worthy, haha, many thanks!
Great thanks for your share at all. I have a bit different look as this: I found there are many ICOs with very high Airdrop ( upto $30-$40_$50 & even more) just for joining some social networks, could we trust in them? I am a newbie to crypto, an I see it is not very believable.
Airdrops really big trap to collect the data about you. Most of airdrops are going like that. If you want to make money on please check the manager who is part of bounty and join in that campaign.
It will be really helpful way to find the more money because the project knowledge very much understanding about ICO and all will allow us to make money. If you join telegram campaign that is very much easy way to get the tokens.
If an ICO does not filter their investors and just let anyone buy their tokens then it's just a scam. I highly believe that an ICO who only allows credible investors and knows about their project are the real ones.
That is not true. There have been a lot of successful ICOs that did not discriminate on who can invest, but they turned out to be fine! The basis is not who can and cannot invest. It is basically the totality of the ICO. It should be based on whether the project really has some true purpose and the people behind it are real people that are legitimately creating a good project. I've seen so many ICOs that even fail to deliver a purpose, those are clear scams. Some though are hard to determine if they are scams. Some are quite good on paper, and the people behind it seemed legit, but in the long run it turns out to be a scam.
Great thanks for your share at all. I have a bit different look as this: I found there are many ICOs with very high Airdrop ( upto $30-$40_$50 & even more) just for joining some social networks, could we trust in them? I am a newbie to crypto, an I see it is not very believable.
If an ICO does not filter their investors and just let anyone buy their tokens then it's just a scam. I highly believe that an ICO who only allows credible investors and knows about their project are the real ones.
Helpful tips. I think that the number of followers from the community helps as well to tell if an ICO is a scam or not.
Ha... Number of followers can be fraud itself. Most fraudulent ico have great number of investors. Off course, if they don't have large number, that will be a basis for suspecting already. I think luck is involved here not just number of followers.
Helpful tips. I think that the number of followers from the community helps as well to tell if an ICO is a scam or not.
Ha... Number of followers can be fraud itself. Most fraudulent ico have great number of investors. Off course, if they don't have large number, that will be a basis for suspecting already. I think luck is involved here not just number of followers.
Helpful tips. I think that the number of followers from the community helps as well to tell if an ICO is a scam or not.
Ha... Number of followers can be fraud itself. Most fraudulent ico have great number of investors. Off course, if they don't have large number, that will be a basis for suspecting already. I think luck is involved here not just number of followers.
Helpful tips. I think that the number of followers from the community helps as well to tell if an ICO is a scam or not.
Ha... Number of followers can be fraud itself. Most fraudulent ico have great number of investors. Off course, if they don't have large number, that will be a basis for suspecting already. I think luck is involved here not just number of followers.
For me the most important thing is the people who are engaged in the development of the ico project, pay attention to them.
Their previous experience in this area, in what company they worked and what results they did, and then we can make a conclusion about this project
Their previous experience in this area, in what company they worked and what results they did, and then we can make a conclusion about this project
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