I trust Mfchain with my ETH investments, as they would truly revolutionize the payment systems by creating a potential for merchant adoption of cryptocurrencies.
Apart from the fact that these guys have got a working product in hand, they've reached their soft cap. And so, the safety net's been knotted. Craig is a straightforward guy, a smart one at that, and he knows his stuff.
Topic: How to know if the ICO is scam (Read 4516 times)
Personally, I take new awards only from the managers I have already checked, who have already carried out projects, and I received my award
It is very difficult to rule out fake ICOs nowadays.They usually present the project with the highest expectation that you will never think of the project being a scam. For now,I take a critical look at the team members and the roadmap of that project to determine if it's is scam.
Check the people behind the coin, make sure that the faces they put are the actual people working on the coin otherwise it is a scam. Also most of the coins that require KYC are scams too.
Knowing trick ICOs is exceptionally troublesome yet knowing how to recognize a conceivable trick or pointless ICOs has some approaches to distinguish to specify.
Great ICOs enlists great abundance chiefs like higher positioned discussion individuals like Senior Members or significantly more higher positions. Overseen by Hero and amazing individuals are more probable preferable ICOs over the lower rank individuals like Newbies and junior individuals.
Great ICOs enlists great abundance chiefs like higher positioned discussion individuals like Senior Members or significantly more higher positions. Overseen by Hero and amazing individuals are more probable preferable ICOs over the lower rank individuals like Newbies and junior individuals.
there are 4 ways you might be able to practice: the team (I'm away from the 2-5man team, it's only risky for me).whitepaper (can really reach it or it just talks a lot). Roadmap, it is always good to know if they have a detailed road map. and current status (whether they still need to start or have a product). maybe my personal experience can inspire you in choosing an ICO.
You might want to consider looking up the team behind the project. Many of them already have a reputation, good or bad. If the project you are going to invest in does not have a reliable team behind it, then I would ask that you withdraw from investing in it. In addition, you could also check to see what other people are saying about it, positive or negative. Your findings should also affect your decision.
in my opinion, why is there an ICO who is a scam, actually it's not a scam in my opinion but because the ICO did not meet the target, the funds they collected from the ICO did not meet their expectations, usually the amount of funds they wanted was printed on the whitepaper. If their ICO is successful, the bounty payment will be accepted, and vice versa if it is not successful, the payment will not be accepted.
First of all the best way to get all the information about the ICO is the whitepaper they regenerate so any information about the company is written in there, also one of the main pointers to indicate a fraud is a delayed period of, a lunch in the roadmap
It is necessary to monitor the team of developers and advisors, their previous experience in this area and in what companies they worked 
Not all ICOs are scam! Don't listen to the haters!
But yes, there are a lot. You should worry about doing as much research as you can to invest proeprly.
But yes, there are a lot. You should worry about doing as much research as you can to invest proeprly.
Yes, that's true, not all ICOs are SCAM. Only 99 out of every 100 projects are fraud or scam as what hero10 pointed out in this post. Quoted below is the complete text for the benefit of everyone.
Quote
Hello, dear investors and everyone who reads this.
Being a developer of smart contracts, I cannot stand aside of the current lawlessness in the ICO market.
Out of every 100 projects 99 is a fraud, or a scam, as we used to call it.
Please, read the following advices as a guide to verification of every ICO:
1. At the start of pre-ICO team should have a contract for automatic assets transfer, that contains a written set of rules for early investors – not on towel, not in the speaking form, but written in the smart-contract. Otherwise, collected assets can just fall in the pockets of founders, or they can change rules of the game in the middle of act – there are many examples.
2. The contract for pre-ICO should be a part of a bigger contract on ICO and do not be different tokens – it is unsafe form a standpoint of vulnerability and withdrawal of funds.
3. The contract for pre-ICO, and then on ICO should have a lower and upper barrier - if it does not – the team does not know what it wants - just a scam.
4. The contract for ICO should have escrow of the funds, received as a result of placement - it can be a frieze or multiSig with a voting condition. This will give you a guarantee against the expenditure of funds earlier than the team completed the previous stage.
5. The contract should have indisputable return of funds condition, in case of not reaching the lower limit of the collected pool. It is in the contract and not in the white book, if it is not – move on, it’s just a scum.
6. All contracts must be posted on GitHub, this will enable third-party developers to check the contract for the vulnerability, if the team has not taken care and before the ICO has not posted a bounty on the vulnerability.
7. The contract must specify the conditions for the team and for the bounty’s for vulnerability.
8. The contract must specify the conditions for not traded tokens - with clearly defined deadlines.
This post is about having a standard. Everything in the end should have a standard - and together we can achieve it. If you do not invest in teams that do not adhere to basic security standards - they just won’t be able to steal your money.
I hope for a dialogue and a healthy discussion.
Being a developer of smart contracts, I cannot stand aside of the current lawlessness in the ICO market.
Out of every 100 projects 99 is a fraud, or a scam, as we used to call it.
Please, read the following advices as a guide to verification of every ICO:
1. At the start of pre-ICO team should have a contract for automatic assets transfer, that contains a written set of rules for early investors – not on towel, not in the speaking form, but written in the smart-contract. Otherwise, collected assets can just fall in the pockets of founders, or they can change rules of the game in the middle of act – there are many examples.
2. The contract for pre-ICO should be a part of a bigger contract on ICO and do not be different tokens – it is unsafe form a standpoint of vulnerability and withdrawal of funds.
3. The contract for pre-ICO, and then on ICO should have a lower and upper barrier - if it does not – the team does not know what it wants - just a scam.
4. The contract for ICO should have escrow of the funds, received as a result of placement - it can be a frieze or multiSig with a voting condition. This will give you a guarantee against the expenditure of funds earlier than the team completed the previous stage.
5. The contract should have indisputable return of funds condition, in case of not reaching the lower limit of the collected pool. It is in the contract and not in the white book, if it is not – move on, it’s just a scum.
6. All contracts must be posted on GitHub, this will enable third-party developers to check the contract for the vulnerability, if the team has not taken care and before the ICO has not posted a bounty on the vulnerability.
7. The contract must specify the conditions for the team and for the bounty’s for vulnerability.
8. The contract must specify the conditions for not traded tokens - with clearly defined deadlines.
This post is about having a standard. Everything in the end should have a standard - and together we can achieve it. If you do not invest in teams that do not adhere to basic security standards - they just won’t be able to steal your money.
I hope for a dialogue and a healthy discussion.
If I want to know if an ICO is a scam I will look out for all their social media activities. I have a huge preference for telegram group because there are lots of ICO that will not have telegram group and still come out that they have an upcoming ICO.
You can do some research on the team memebers ot see if they are real person and who thay are if they are real. If they are good enough to make the coins go up 
If you must know a scam ico look for the team spearheading the project. Are they willing to go public to tell people about the ico. The response of the community in their chat group and lastly the business model they are trying to implement or tokenize.
I this topic I really would like to thank Spoetnic for his words about ICO
Not all ICOs are scam! Don't listen to the haters!
But yes, there are a lot. You should worry about doing as much research as you can to invest proeprly.
But yes, there are a lot. You should worry about doing as much research as you can to invest proeprly.
Keep an eye on the project only invest after being in the currency market. Many of the ICO projects found are very delusional, often promising absurdly high profits. These types of projects most of the time are going to be frauds or hype.
Always be aware that most bad ICOs enter the market and have already begun to drop the value. Always see the amount of currencies that will exist and if the project is interesting, so you can minimize the damage if you invest in some ICO.
Always be aware that most bad ICOs enter the market and have already begun to drop the value. Always see the amount of currencies that will exist and if the project is interesting, so you can minimize the damage if you invest in some ICO.
If the team does not disclose your information or trying to hide something it can be regarded as a fraud
I will say check the team member - are they real... have they got a working product, would you invest them outside a crypto world. Is the project trying to get massive amount of money but delivering very little value (this is also SCAM for me).
In addition to that, most successful ICOs have YouTube channel that will ensure attracting more investors and community supporters. Some ICOs have no media and social media community and that's the better indication that an ICO is useless.
Only one way to understand is the project SCAM or not: to learn carefully all information, the team, WP, road map.
The team core has also the biggest role for a Cryptocurrency project. Developers and management staff are reliable and if they can carry the company despite of having to many rivalries.
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