Topic: How to know project scam or not? - page 7. (Read 1721 times)

Quite difficult to determine that a project is a scam. Because despite having a whitepaper, but all can not guarantee that the project is not a scam. Maybe if just failing not to touch the softcap can still be seen, but if determining a scam project or not it is quite difficult.

There is no any specific techniques to identify whether that project is scam or not. but you can get basic idea of the project by reading the white paper and looking the project team up to some extend.

Unfortunately, there are no 100% guarantee that can figure out that project is legit but at least choosing a scam project can be minimize in some steps. Study the projects ifself by its whitepaper, check dev team background and monitor if their team are active on updates and social media.

Generally speaking whitepapers, ideas, good marketing and even well known good names in the team are are not a guarantee. A good ICO should already have at least a working prototype what you can see in action or some working product what needs further investment to achieve well detailed realistic goals.

We have discussed this thread many times and answer is same that look for the team behind project and their past work experience,read whitepaper of project, objective of the company and utility of token to public. But still many ICO have these factors but still they proove to be scam and you need your own knowledge and skill to make such judgements.

10 basic signs of electronic money fraud project evaluation
1. Projects tend to develop under the multi-level marketing model Often these projects will raise capital on attractive invitations like Bitkingdom: Just spend 10tr and you will be refunded in 3 months. If you add more members, you will get xx% of the money they invest in
2. ICO projects are not community based
3. Do not publish the list of founders and development team This is the trick of phishing projects so no one can track down their traces if they hug money and run away.
4. The virtual currency project does not have its own wallet or associated with the lesser-known purse Most do not have their own wallet but have to trade through reputable virtual currencies like Bitcoin, ETH, Zcash or cash.
5. Low account security system
6. Do not press releases and do not appear on the ICO project development pages
7. Do not publish source code, Public code is not public on the site is particularly prestigious Github.com
8. ICO projects show deceptive behavior only in certain countries.
9. Do not open public token sales, or coin not appear on the digital money buying site Parameters such as market capitalization, number of tokens issued, exchange rates, transaction volume. These are factors that need to be disclosed.
10. The scams of fraudulent ICO projects are not posted on such reputable platforms as Bittrex, Poloniex

it takes patience for my research and analysis. of course all ico have a vision and mission that is very thick for the stretcher as an idea and the technology. and you can read and look for any discrepancies over any of your investigations. and the most important factor is experience

If the team is trusted or they have a good partnership with a known company then you can be sure that it's a legit project try to observe their social media accounts

Also, a very important part of the project is the availability of technical documentation - whitepaper, etc. It is necessary to study it in detail, and to understand how we will implement the project and whether it has a future.

To be honest, you can not be 100% sure of the project, but you can try to reduce risks to a minimum. It is necessary first to see who is behind the project, and to check the members of the team - to their reality, and involvement in the project

One of the signs of fraud is the lack of details about the design of the technology and the lack of full-fledged developers.

You can't hardly say if a project is a scam because there's a lot of people nowadays that are very expert in scamming.
Well my advice for you is to research more about the project , take time to read their white paper. Follow their social media if it was updated and if the team are real..

Check the code on github.. a lot of scams dont have any code (invated token).

i think you must monitor all success ICO and learn their project. usually they have good team and advisors.
you can search for their advisors, if the advisors confirm they involved to that ICO, then it has a high possibility a legit ICO.

of course there is a way to find out. but more so on the experience issues you have. I think experience is very important in the crypto industry.
you can start by analyzing each ico and comparing it with some ico that has been successful.

Yes you can identify a project if it's good or bad! The most important thing you must do is research. Read their whitepaper and examine the team behind it if their credible and experienced enough in this field i found a very good one and they're called DCC. They are so active in this community and gives updates about their milestones and activities they're doing. Sample of an update is this -> DCC Weekly Update

If you want to learn more about them, you can visit their website at http://dcc.finance/ or follow them on Twitter at https://twitter.com/DccOfficial2018

Goodluck to you!

to check them frauds or not it is very difficult for us to check their social identity, their background and should often ask the more senior members because they will know less about it than fraud or not from their experience.

We cannot predict at all 100% true if an ICO is scam project or not. However, we may indicate some:
1. Analyze the token supply and its allocation including the price. Analyze also the wallet transaction. Some scams may make the conditions very high and the transactions are limited to some wallet address.
2. The team of the developers is not clearly stated.
3. There is no clear explanation about the roadmap, token sale, whitepaper, and also the project product as in the web and whitepaper.
4. Analyze the community behind the project.

I think its hard to determine that project scam or not. What we can do is just minimizing our risk by research about their team and their whitepaper but its not guarantee its not a scam. But research on that project and finding information on social media can minimizing risk we can get scammed

Just like you, I am also a beginner in the crypto world.
Just suggest to you all about what I read, try to research it carefully and find as much detail as possible about the project you want to choose, I think you can start by reading from the whitepaper project you are going to follow, usually a good project will gives you accurate descriptions and also has a team of experienced in this project.
Many look for existing information, it could be a way of reading and also consultation to friends who have ecperienced follow the project.