Topic: How to minimize the risk of being scammed. (Read 666 times)
How many do not study the project, it is very easy to fall for the scammers. Now everyone is very good at faking that it is impossible to distinguish projects that are good from scammers.
Mostly you just want to be very careful with the kind of people that you are dealing with when you are investing in coins especially the new coins. The markets now are rife with scammers and the best way is to just avoid them at all cost. Always remember, if something seems too good to be true then it is most likely a scam, this can keep you out of a lot of trouble
You need to try less to believe in public and popular projects and coins because basically they are doing a lot of popularity around something in order to quickly earn money from naive people.
Great post! It is a must for every investor to go through these rules and if every investor would stick to these rules, there would not be any scam projects, because such projects won't simply get any investors.
I think the rise in scam projects these days is so alarming. Even those ones who didn't mean to be scam eventually turn out to be scam because the ICO will not be successful.
like that there was, initially had no intention but because it was on the edge and there was an opportunity so they could have done either because the sales were not successful or indeed from the beginning the intention to cheat
Waiting for BTC with 1k price
Well i never join ICO becuase its so risky and i dont want lose my money. The number of scam projects this year is too high and investor slowly leave ICO. 8 points you give is very usefull for those who want to invest in ICO. I hope scam project reduce next year.
I agree, these good recommendations will be able to help many people. But scammers stand still never and constantly come up with more clever ways to scam.
the way you give it is like it can be a solution for traders or new investors who find it difficult to make sure the ico or the project is scam or not, hopefully with information like this no one will be hit by a scam anymore.
I think the only way to minimize risk of being scammed whether in ICO investing or bounty participation is doing intensive research of the project. Reading the white paper, join different social media sites and research the team behind it.
Even those ones who didn't mean to be scam eventually turn out to be scam because the ICO will not be successful.
Not "it won't work" but it's really like that.
ICO is held when the price of Bitcoin is at a price of 20,000 USD, then now the price of Bitcoin is around 6,000 USD and it is difficult to accept by investors.
It depends on how smart the scammer is, if you look at he bitconnect debacle it was blatantly obvious that it was a ponzi scheme, and they operated in plain sight. Those guys were smart and many people fell for it. Follow your brain and ignore the hype
After reading their whitepaper then ask yourself these questions:
1. Does the document make sense to you? (Did you get a picture of the whole idea they are talking about?)
2. Is project going to provide any real solution to any problem? (scam projects usually provide vague solutions which normally does not point out the blockchain aspect in it)
3. Is the document having original contents (scam projects usually copy people's work)
4. How old is their official website (most scam projects usually have new websites)
5. What has the team done already towards the project.(scam projects usually do not have any detailed roadmap)
6. Check the team's profile on linkedIn and also their number of connections. (fake ones usually have low and no real connections.)
7. Check the token distribution. Is there equity and equality? (the scam ones usually allocate higher percentages to the team)
8. Did they give any abnormal price speculations? (i joined one bounty(Crestonium) who promised 3 times profit within 6 months else they are going to refund investors monies back to them. They ended up being a scam)
No matter how vigilant you are, you can still get scammed but at least, you can reduce the risk of being scammed. Enjoy your day
1. Does the document make sense to you? (Did you get a picture of the whole idea they are talking about?)
2. Is project going to provide any real solution to any problem? (scam projects usually provide vague solutions which normally does not point out the blockchain aspect in it)
3. Is the document having original contents (scam projects usually copy people's work)
4. How old is their official website (most scam projects usually have new websites)
5. What has the team done already towards the project.(scam projects usually do not have any detailed roadmap)
6. Check the team's profile on linkedIn and also their number of connections. (fake ones usually have low and no real connections.)
7. Check the token distribution. Is there equity and equality? (the scam ones usually allocate higher percentages to the team)
8. Did they give any abnormal price speculations? (i joined one bounty(Crestonium) who promised 3 times profit within 6 months else they are going to refund investors monies back to them. They ended up being a scam)
No matter how vigilant you are, you can still get scammed but at least, you can reduce the risk of being scammed. Enjoy your day
Good list you have here. I agree with the last paragraph, there is no guarantee that you will never be scammed but at least you can lower the chances of that happening by applying these guidelines.
Investment is risky. I can't help suspecting that the most vital angle is the genuine application and estimation of coins. It is critical to ensure that individuals need to purchase these tokens. In the event that you take a gander at the proposition of various ICOs at that point you won't have any desire to purchase their coins, since you have no enthusiasm for this other than theoretical.
Yes, it is a good recipe how to reduce the risk of being scammed. But if someone wants to scam you, they will do as much as possible to do it.
I have seen many really nice ICOs which scammed their investors like Centra (with advisor Mayweather).
I have seen many really nice ICOs which scammed their investors like Centra (with advisor Mayweather).
A good guide for the analysis of the projects! Thank you! 
I would also add the study of the project activity in other social networks (Twitter, Facebook, Instagram).
I would also add the study of the project activity in other social networks (Twitter, Facebook, Instagram).
Bitcoin is not just a risky investment, it is the riskiest investment possible. But “risky” doesn’t mean “bad”. It just means that you have to be more careful than usual and have a backup plan in case your hopes will be dashed. And, of course, there are some precautionary measures you can take to reduce risk.
it's very difficult to avoid scammers now because they now have a lot in common like real projects, like websites, whitepapers and others ... but to check the age of my website I still don't understand, can you say how do we know it?
This is really great, I appreciate that this information is out there for everyone who needs it to see. It is really good to know that there are all of these information on ways that people can avoid being scammed, dealing with scammers has become the bane of this industry and we need to find a way to weed them out. This is a good start if you ask me.
After reading their whitepaper then ask yourself these questions:
1. Does the document make sense to you? (Did you get a picture of the whole idea they are talking about?)
2. Is project going to provide any real solution to any problem? (scam projects usually provide vague solutions which normally does not point out the blockchain aspect in it)
3. Is the document having original contents (scam projects usually copy people's work)
4. How old is their official website (most scam projects usually have new websites)
5. What has the team done already towards the project.(scam projects usually do not have any detailed roadmap)
6. Check the team's profile on linkedIn and also their number of connections. (fake ones usually have low and no real connections.)
7. Check the token distribution. Is there equity and equality? (the scam ones usually allocate higher percentages to the team)
8. Did they give any abnormal price speculations? (i joined one bounty(Crestonium) who promised 3 times profit within 6 months else they are going to refund investors monies back to them. They ended up being a scam)
No matter how vigilant you are, you can still get scammed but at least, you can reduce the risk of being scammed. Enjoy your day
Yes, these are really good tips that can help bring scammers to clean water. I am interested in the following question: How can I find out how much time does the site exist? Tell me how can I check it out?1. Does the document make sense to you? (Did you get a picture of the whole idea they are talking about?)
2. Is project going to provide any real solution to any problem? (scam projects usually provide vague solutions which normally does not point out the blockchain aspect in it)
3. Is the document having original contents (scam projects usually copy people's work)
4. How old is their official website (most scam projects usually have new websites)
5. What has the team done already towards the project.(scam projects usually do not have any detailed roadmap)
6. Check the team's profile on linkedIn and also their number of connections. (fake ones usually have low and no real connections.)
7. Check the token distribution. Is there equity and equality? (the scam ones usually allocate higher percentages to the team)
8. Did they give any abnormal price speculations? (i joined one bounty(Crestonium) who promised 3 times profit within 6 months else they are going to refund investors monies back to them. They ended up being a scam)
No matter how vigilant you are, you can still get scammed but at least, you can reduce the risk of being scammed. Enjoy your day
I am also looking for that answer and I found it now.
At whois.com, everything looks really and is easy to know when you own a site for someone or a company.
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