Thanks for sharing this information it can help us to identify the scam project to the legit one.
Nowadays the vast majority of ICOs are scam and even you're careful in choosing where to invest scammers are now professional for their project to look great and convincing to the investors. I think we can avoid falling to their trap by taking time to learn about the flow of ICOs and improve ourselves because its better to have enough knowledge to become aware of what to look for when investing.
Topic: How to minimize the risk of being scammed. - page 2. (Read 666 times)
These are real facts and also ways to avoid been scammed. You should also avoid phishing sites as well too. If you want to invest into icos, check their githib and also research the team to be sure they are credible
I will also like to add that you look out for willingness of the team to list the token on time in a tier one, reputable exchange! Some investor like to trade their token up and down to get more token, yet many project fails in this aspect!
It will surprise you that there was a bounty I read thoroughly about the website,roadmap and got what the project intend doing for those in cryptocurrencies. I concluded it was a trusted project and even recommended it to mates out there. You can't believe when it became scam 
.
. 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.
I will always say it to others that if you want to participate in different projects, you must give yourself a time to do some research about the history, about the project, their whitepaper and the team behind the project, those are the things that we need to consider before we enter into new projects. Its very helpful also to know if the project is suspected as a scam or it is a legit project.
Thanks for the information you take time to list out , if it is followed carefully being scammed will reduce drastically and it is also important to do background check up for the team of the ICO, also check if there is any previous business experience or business capital and just like you have said detailed roadmap is essential and it's feasibility
Sometimes even of your are being scammed at the ICO stage, you can lose your investment if the team fail to pursue the project and the coin gets no value
Scam is always part of the game,no matter how careful and vigilante you are,you see different ICO with pictures of the proposed project very good and promising you see picture of the teams looking very real and so on,but at the end you just discovered you have been scammed,to me what I think every investors, bounty hunters should do to avoid this is to partner with icos that has built their name on intergrity and trust,and registered their company too,check for their licence that permit them to run an ICO in the cryptocurrency world and not just selecting ICO to participate, with this the rate of been scammed can be minimized.
I think it's very difficult to minimise risk of being scammed. But we should control the risk,study the profile & contact the team members time to time who involve with projects. after satisfaction all about the project then should be investigated.
well for me, you cant minimize it, the only thing you can do is try to avoid it, minimizing it means that you will still be able to become a victim of scam with such a low risk, but if you do everything you can to avoid it, then you might be.Are you sure one can stay in crypto without even a single scam incident? Maybe such a person is very new in the crypto community or he is not so much into it
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
This is good, more people should follow this. It is true that we can always get scammed even if we are vigilant but at least we can make sure that we do not end up falling for the cheap scams. Also I would like to point out that people should always make sure to check the url of the site that they are on to make sure that they are on the right site before doing anything on it.
Investment is risky. What we need to do is to avoid traps or some cryptocurrencies with greater risks when investing in cryptocurrencies. We need to keep a clear mind when investing in cryptocurrencies. I think this is very important.
You should learn more and more knowledge, so you are more experienced in the market, in my opinion, you should not focus on doing and doing, take the time to learn and improve knowledge.
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
We all know that crypto currencies transactions are most safest and the most confidential one and it is like next to impossible to hack the crypto currencies transactions as it provides us the user anonymity and peer to peer transactions and enabling no third party seizure in the bitcoin transactions thus no third person could see the crypto transactions and thus minimising the chances of ny hack or scam but in order to prevent yourself from scam you need to keep your keys and passwords very secure and confidential. 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
Thanks for the effort that you brought but we can not avoid sometimes to scam because they are getting well now a days they keep on searching also how to be strong. The best thing to do is to study well the ICO before you enter in any transaction sometimes you to be paranoid to be able to avoid the scammers.
Avoiding the risk of being scammed is not actually an easy thing because it is obvious that no one has ever gained mastery of being a super man against the gimmicks of scammers, although as a bounty hunter i always try to go through the whitepaper to actually ascertain the subject matter, that is, the important of their project to the society but when the subject matter is not properly detailed; i just simply close the page to visit other bounty that is worthwhile.
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 really like this your concluding sentence very much. The scam in crypto is something we can never run away from but hopefully we can tame it. It is only the team or perhaps a member (s) of the team who know what they're up to. No one else can fish them out and so i like hardcopy your list. it'll help in taming it and we should also always not forget to avoid being greedy- it might end you where you don't want.
Scammers and fraudulent ICOs are now really very much in the industry. Fraudsters make their projects very qualitative and people are very often trusted with them. If you are very careful and follow the rules that you have written here you can choose a really high-quality project.
Do you think that all ICO's which start with crowdsale are scams?
Your post is really helpful and insightful, and if the majority follow most of the steps on here, it would be difficult for them to invest in an ICO that is a scam and lose their money. Anyways, about the whitepaper thing, most of these whitepapers are even more convincing than those that are legit, so people need to be really careful out there.
A very interesting article in which there are points which I adhere to when choosing a project or a coin for investing 
Jump to: