Topic: How to minimize the risk of being scammed. - page 4. (Read 688 times)
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.
Basically, Investors prefer to go on well know currency such BTC to minimize being scammed, there first basis is how long the currency excess and how many trust it gather in a long run, although reading and investigating is enough to say if a coin is satisfying. Its to insane to avoid being scam but it can be lessen, a good way of it is a detail roadmap of presenting the coin. As I see most of the coin had a favorable start to collect investors and as times goes changes are coming and many projects has occur, that incident is the riskiest part cause provider got his belly full and its unpredictable what will gonna happen next, better if you prepared your minds in to deal with those circumstances.
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
9. Is there math and tech in whitepaper or only words?
10. Should the solution to the problem described in WP really be decentralized? Maybe traditional DB or website will do the trick?
11. Does the token has any real value in the upcoming project or is it for example just a discount token/any other trash?
12. How much competitors will the project have?
13. Is the team capable of making everything they promise or is it too small/unprofessional for the task?
Scam is major challenge in crypto these days and we all have to fight against it and make crypto attractive to the world
If you are not scammed at ico that is good but not last, tokens would be literally left by the team and that is basically not scam 
Thanks for the piece of information. There is no way you won't be scammed in this crypto especially when you doing bounty. But if one could follow your guidelines, I believe it will reduce the rate of being scammed.
It’s also necessary to check the availability of profiles on Linkedin for the main team members, as well as the number of contacts for each of them. If the profile was created recently and there is no information about the previous places of work, such developers also can't be trusted.
What you are saying is very important. I came across this project and its only the CEO whose profile was available on linkedIn. When i questioned him about it, he said the other team members wanted to stay anonymous so i stopped doing their bounty. Eventually, the project ended as scam
This information is very useful and can help prevent people from being scammed. Even though some projects may have all these features, if they do not reach soft cap, bounty hunters will not be paid and investors may loose their money.
I rely on only my analyzing which consists of detail checking, talking with more experienced people and making trends for it. And this is enough for me.
In my opinion, we must trust the selection of cryptoprojects for professionals. As in principle and in any field. Everyone should do their job. Sometimes, to get caught on a scam enough of such stupidity. We need to be more attentive to the little things. I think with a long work in this area and comes the ability to distinguish between a scam and normal companies
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.
If ICO project is unsuccessful why ICO manager does not return investor fund? So that investors are not disappointed and can enter again to another project.and for bounty hunters do not consider a scam if the participants do not get paid because the project is not successful, let's just say it is a job risk.
If investors are not disappointed and the participants of the gift campaign always think positive, I'm sure a good ICO project will soon flourish.
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
That's a good idea.
We have to protect ourselves, before others take warning.
We have to protect ourselves, before others take warning.
It’s also necessary to check the availability of profiles on Linkedin for the main team members, as well as the number of contacts for each of them. If the profile was created recently and there is no information about the previous places of work, such developers also can't be trusted.
if people fill out the form 100%, then even existing information should be checked. Thus, there is still the risk of being deceived. It is necessary to trace the whole chain of biographies of each person with whom you will deal. 
It’s also necessary to check the availability of profiles on Linkedin for the main team members, as well as the number of contacts for each of them. If the profile was created recently and there is no information about the previous places of work, such developers also can't be trusted.
It's almost becoming a norm to get scammed these days. Well, a lot of these scam stories can be prevented if we consider certain things and take them as precautions. First, make sure all your details are never shared with anyone online, read up and do your researches on projects, their managers and reviews before you actively participate in anything. Be safe!
Thanks to the author for his useful advice. I know almost all of that, but it's still good to remember again.
Those are good way to set up our minde to nog getting scammed by an ico project. Everything that would we take are still have a risk. We must learn anything and every step of the project, we must know the plan and the growth. Make sure that the project that we are joined is a good project.
To minimize your opportunities to be deceived, a detailed analysis of the project is best suited, which today becomes very difficult, because the scammers have learned to deceive so well that it is very difficult to distinguish a good project from the project's scam.
From my experience, i have noticed that ICOs that promise dividend after investment end up to be scam. Most of them look like ponzi in nature. A typical example of such that i know of, was impressio. Some scam projects can disguise to be real, yet they are scam.
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