How to minimize the risk of being scammed. - page 3.

fosco333

full member

Activity: 1260

Merit: 100

Quote from: Dacosta Osei-Tutu on July 15, 2018, 09:02:13 AM

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

Of course always perform due diligence before you start to investing in any kind of project investment.
Thank you for the points you write here, it helping some peoples who doesn't know what to find out.
I usually checking their developers profile and their planning.

hermae

newbie

Activity: 210

Merit: 0

No matter how careful we are in choosing an ico, we can never tell if the ico is a scam or not when the ico is still on-going. We can only tell once it is finished. There are some icos that are not scams but are also not successful in the end. When their projects become unsuccessful, I think it would be best if they refund the investors' money and tell the bounty participants that their project is not successful and say that they are sorry, not that they suddenly disappear at the end of the ico, maybe if they do that, we can understand them better and not hate them and tagged them as scams.

Torps1

member

Activity: 574

Merit: 12

Kuvacash.com

Minimizing or cutting down on the risk of being scam is possible by doing a thorough research on the project prior to investing. But more interestingly too is the act of diversification of investment. Never put all your investment in only one place!

corat coret

newbie

Activity: 168

Merit: 0

from so many things you explain, it seems still difficult to determine which projects (especially ico) will not scam, because the fact is that now ico seems to be good (in terms of whitepapers, management teams working in the ico, token) is not a guarantee that the project will not scam, I have found two examples of ico that looks good but even the scam is uchit and cryptoriya

MiChaeng

full member

Activity: 364

Merit: 100

Quote from: Dacosta Osei-Tutu on July 15, 2018, 09:02:13 AM

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

articles that are very interesting and useful. yes it's all back to ourselves, if we want to learn and understand every project that will be done or at least analyze the project first to reduce things that do not want to cool. be a smart trader or hunter because now the technology is getting better and growing. not a few of them are potentially deceiving.

p i e c e

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Activity: 336

Merit: 100

In order to protect yourself as much as possible at the time of investing in cryptocurrencies you need to actually spend a lot of time studying a potential project. It will really be useful.

vseslav90

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Activity: 280

Merit: 1

"WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN"

The most important index which determines the level of this risk is being careful in the choise of projects which you are going to participate in and that's all.

Octc76

newbie

Activity: 275

Merit: 0

Quote from: Dacosta Osei-Tutu on July 15, 2018, 09:02:13 AM

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

That is true ..
no matter how we should always try to avoid the scm project. this is very helpful to my knowledge. I also tried to learn about a project from this thread: https://bitcointalksearch.org/topic/m.41090029

Rengga Jati

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Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Dacosta Osei-Tutu on July 15, 2018, 09:02:13 AM

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

Very good reviews to inform us to be more careful in choosing the ICO. Yeah, those questions can be the consideration when we are going to invest or join in the ICO. Of course, the answers of those must be analyzed carefully. We no need to hurry up deciding which ICO must be invested.

chocolaty

member

Activity: 294

Merit: 14

The number of scam ICOs are continuously growing and investors know this for a fact which is why a lot of them try to stay away from ICOs. This caused the market's recent dumps.

As a careful investor, you should inspect the project. Research about it. Read its claim and evaluate if any of their claims are attainable depending on the efforts they exert. It is really hard to detect a fake ICO because real ones have its fault too.

Corelianer

full member

Activity: 309

Merit: 100

Now it is becoming more difficult to choose a good ICO, I spend more than one day on it. The terms of some crooks. I'm looking towards blockchain ICO projects.

Jessy Mediola

full member

Activity: 340

Merit: 100

Quote from: Dacosta Osei-Tutu on July 15, 2018, 09:02:13 AM

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

It is based on your understanding. Because if you look at the whitepaper you can actually recognize if the ICO will success if you yourself noticed that their platform are feasible then you should trust that one and support it with all of your heart.

rvlrshr

jr. member

Activity: 84

Merit: 1

Yes, you've got the point the risk of getting scammed was minimize that's why it's really important to do more research before investing your time and money on a specific project.

rayjellanajao

member

Activity: 224

Merit: 10

Strategist

Thanks for this tips! I really wanted to reduce the risk of getting scammed but reading the whole whitepaper takes time. I guess I'm going to read a few pages of the whitepaper and use the other choices. Well, knowing the project really increase the chance of avoiding scams but still, there's no hundred percent chance to avoid it.

Afteryou56

newbie

Activity: 168

Merit: 0

The pump and dump groups make the whole situation very serious. It causes fluctuations here and there and the gap is also large. But one thing I always say is that, the future is always bright. Altcoins will one day gain the limelight they deserve, and it all depends on acceptability of cryptocurrency. As more people accept crypto there's the chance of getting a need and usefulness of altcoins(and that will make them fly high or trade better). I think developers of altcoins should also create realistic projects.

MoonJeina

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Make winning bets on sports with Sportsbet.io!

Quote from: Dacosta Osei-Tutu on July 15, 2018, 09:02:13 AM

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

This is some serious information here .
But the major concern here is that most of the users who fall for the honey trap are the new and immature users who are just trying their luck here .
If they don't have an idea of how a whitepaper should look and what should it present , they will never be able to judge what is right and what's not in the whitepaper . Moreover , all the ponzi and FOMO hype has worsen the conditions and it is just impossible to be sure about any project . 60% of ICOs that are posted in the bounty fails.

JohnMacZeppelin

full member

Activity: 602

Merit: 101

To reduce the risk of losing money. It is best not to invest at all. And if you decide that you can accept these risks, then you need to try. Just think about how you can still get an increased profit of more than other investment options.

weborsha

member

Activity: 560

Merit: 11

The thing is, that even if you check all the points that were mentioned in this thread, you still could be scammed. The team may just stop developing the project after a couple of months, not right away after the ICO stage. They even may be listed on a trusted exchange, but if there is no utility for the token - it costs nothing.

Jazvebtc18

newbie

Activity: 210

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Quote from: Dacosta Osei-Tutu on July 15, 2018, 09:02:13 AM

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

Definitely Yes I agree with you mate. All you have mention is what we need to know if the ICO project we are going to join are legit. But scammers nowadays is very wise. They can still provide what you have mention but still it is a scam. Maybe you can lower the risk that you will be scan but you can't really avoid it.

Casalania

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#SWGT PRE-SALE IS LIVE

Quote from: Gurjasmeet on July 19, 2018, 08:42:46 AM

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.

Topic: How to minimize the risk of being scammed. - page 3. (Read 688 times)