Topic: How to recognize scam - page 6. (Read 3159 times)
If you are not greedy then you are less likely to get scammed than a greedy person. Knowing a scam is always easy, they always sound too good to be true and they are always making unrealistic promises which means that only greedy people will fall for them and get hooked on their schemes. If something does not have a face behind it, then you should be very wary of that project
All you need is to double check key project facts and management statements. Fortunately, if you deal with scam ICO, it takes no so much time to start discovering significant discrepancies between info provided by the project team and reality. Just be careful!
I think that scammers can very well disguise themselves and it is very difficult to distinguish a good project from scammers.
Absolutely agree with your points. Before perticipating in any ICO I often deeple research the project. My advice is to pay attention whether the projects has a ready-made product as it is some kind of guarentee that it is not a scam as well as long termed activity before ICO. It is an indicator that team goes stright to thir goal and will not give up.
Most ICOs that are not successful are considered by many as scams. I think this is a bit unfair. It is not good to consider this as a criteria for judging a an ICO as scam. I think the best way to look at the ICO to be a scam is by checking the team behind it, if they are actually the person as named or just somebody who pretended to be. Second is that products are developed and without any visible product to show these means they are certainly a scam and the last one that I would be considering is that if the ICO is asking for payments and offers impossible or too good to be true bargains just to attract customers.
my opinion is you can't if they are good scammers. but according to my experience that's the motto you must remember all your life time ''too good to be true''
The best way to recognise scam is to do your own research on team track record, project perspective and announcement correctness, etc. In most cases inappropriate or faulty info become evident rather quickly and easily. The more misstatements or strange things you notice, the more chances that you deal with scam project.
If the founder does not want to speak and answer the questions of potential investors, then a logical question arises, but who is trying to raise funds to develop the project, he or us? It is only worth thinking about.
You can simply try to find different information about people, technologies, past experience of this team. If there are no references in search engines, it is probably scam.
I also first of all pay attention to the team and their experience. If team members can not be found in the search engines and there are no links to their profiles, then most likely these are scammers who use someone else's photo to collect money.
My opinion the most preventive action to know this problematic project is to see the opinion of the advisor. It proved several projects that I encountered scam from advisor suggestion.
Probably its hard to recognize scam one project but we can do just always aware ones we join and i always check first who is the campaign manager
If you want to recognize scam you must to be aware of projects which offer many benefits and has no restrictions for participation in investing. And I have said some times yet, watch for authors of the project.
Unluckily, I've been in soome ICO scam, so my hardwork doing its bounty will go to waste for sure! so I decided that I will putting a rule to myself on how to consider an ICO before joining it,.
So I will look for its team first if they are real, real team or real ICO have no worries on their identities, also next is I will ask on what there project can offer in the markets, can it be profitable or things that may act to prosper in the future. and many more,.
so be wise on all your decision always, be aware on anything
So I will look for its team first if they are real, real team or real ICO have no worries on their identities, also next is I will ask on what there project can offer in the markets, can it be profitable or things that may act to prosper in the future. and many more,.
so be wise on all your decision always, be aware on anything
One of the biggest signs of a scam is that if it sounds too good to be true then it probably is. The whole point of a ico is to make money if the project has alot of promise it could all well be a good idea. If the founders won't talk answer questions then that has to raise doubts.
Hello everyone!
Today I've read a couple of articles and I've noticed that the most people are used to label each ICO as a scam. That is not fair, I know. Especially when you work in a startup launching ICO and do your best to make a project successful. However, having worked in ICO industry I learned how to recognize a scam just from one conversation with a Founder. I don't know how to explain this feeling. Probably, my subconscious translates knowledge, but I could not say a have a large experience.
So I decided to make a list of scam signs: (and this is just my own opinion)
- A founder and a team are not open.
Talking with a founder is always nice. They are usually full of energy and ready to talk about their project for hours. No matter how tired he/she is: when one is asking about a project, a founder starts talking about it with eyes burn with a fire. No matter who you are. When a founder deflects, tries to escape and avoids it makes you think that he/she just can't tell you anything important. What is more, it is crucial talking to a team. When a team member doesn't know how to answer a simple question about a product, it is also a bad sign.
In case of the lack of opportunity to visit an event and to talk to a team, you always can contact a founder and a team online. They should be open and answer patiently all your difficult questions. Even if you ask it every minute.
- Spending a lot of money on marketing isn't always show professionalism.
Just think. A company needs ICO to raise money for a company development. Isn't it a little bit queerly when an unknown company is too fancy. How? And Why? Why do they need ICO if they already have money on expensive advertisement? I don't know too
- You know nothing about a founder. And you cant find any information about him/her.
Always google the founder. Always. And now I'm not talking about his/her FB page. I'm talking about his experience, education, photos, events he took part in. A founder should not be a mysterious person who came from nowhere. His background should be open to everyone.
- They don't have a readymade product.
Let's make a sober recognition. The competition is high. In the end of 2017 - the beginning of 2018 you just can't appear with an idea and ask for money. You need to develop your product before ICO. It should not be an amazing one. It could be just prototype. But investors need something real. They need to touch and try your product. However, just 16% of all ICO has a product.
And what do you think about it? What are your signs of a scam?
Today I've read a couple of articles and I've noticed that the most people are used to label each ICO as a scam. That is not fair, I know. Especially when you work in a startup launching ICO and do your best to make a project successful. However, having worked in ICO industry I learned how to recognize a scam just from one conversation with a Founder. I don't know how to explain this feeling. Probably, my subconscious translates knowledge, but I could not say a have a large experience.
So I decided to make a list of scam signs: (and this is just my own opinion)
- A founder and a team are not open.
Talking with a founder is always nice. They are usually full of energy and ready to talk about their project for hours. No matter how tired he/she is: when one is asking about a project, a founder starts talking about it with eyes burn with a fire. No matter who you are. When a founder deflects, tries to escape and avoids it makes you think that he/she just can't tell you anything important. What is more, it is crucial talking to a team. When a team member doesn't know how to answer a simple question about a product, it is also a bad sign.
In case of the lack of opportunity to visit an event and to talk to a team, you always can contact a founder and a team online. They should be open and answer patiently all your difficult questions. Even if you ask it every minute.
- Spending a lot of money on marketing isn't always show professionalism.
Just think. A company needs ICO to raise money for a company development. Isn't it a little bit queerly when an unknown company is too fancy. How? And Why? Why do they need ICO if they already have money on expensive advertisement? I don't know too
- You know nothing about a founder. And you cant find any information about him/her.
Always google the founder. Always. And now I'm not talking about his/her FB page. I'm talking about his experience, education, photos, events he took part in. A founder should not be a mysterious person who came from nowhere. His background should be open to everyone.
- They don't have a readymade product.
Let's make a sober recognition. The competition is high. In the end of 2017 - the beginning of 2018 you just can't appear with an idea and ask for money. You need to develop your product before ICO. It should not be an amazing one. It could be just prototype. But investors need something real. They need to touch and try your product. However, just 16% of all ICO has a product.
And what do you think about it? What are your signs of a scam?
Hi there! Thank you dor your very informative post on this forum.
And I agree to you that not all ICO is a scam, and it's sad to know that scam ICO affects the legit ICOs.
For me I also search that team most especially if the people behid them is real and also has a lot experience.
Wow this is very informative because it gives us newbies some strategies on how to detect if one ico is a scam or not. I agree that a founder should be approachable and can be asked and answers questions if a participant wants to know something. Communication is very important especially if there are times of doubt and confusions about the ico. Since last week there was a big scam revealed in our country that involved bitcoin (and thank God the scammers were imprisoned now), we should also keep in mind that a scam is always and will always attract people by telling things that are TOO GOOD to be true. So if we doubt about something in this kind of ico, we should do a lot of research about the company and the people involved in the project in order to keep ourselves away from scammers.
so hard to recognize scam now. they almost have real roadmap and whitepaper. but for me i the only way to recognize a scam is that they have low community and didnt update daily.
To recognize scam ICO, you will need to do research about the team, social media, and how the team communicate on social media.
i often see a scam ICO that it was bad at communicate on their social media, hiding their profile team, and often to postponed their roadmap schedule.
i often see a scam ICO that it was bad at communicate on their social media, hiding their profile team, and often to postponed their roadmap schedule.
Hello everyone!
Today I've read a couple of articles and I've noticed that the most people are used to label each ICO as a scam. That is not fair, I know. Especially when you work in a startup launching ICO and do your best to make a project successful. However, having worked in ICO industry I learned how to recognize a scam just from one conversation with a Founder. I don't know how to explain this feeling. Probably, my subconscious translates knowledge, but I could not say a have a large experience.
So I decided to make a list of scam signs: (and this is just my own opinion)
- A founder and a team are not open.
Talking with a founder is always nice. They are usually full of energy and ready to talk about their project for hours. No matter how tired he/she is: when one is asking about a project, a founder starts talking about it with eyes burn with a fire. No matter who you are. When a founder deflects, tries to escape and avoids it makes you think that he/she just can't tell you anything important. What is more, it is crucial talking to a team. When a team member doesn't know how to answer a simple question about a product, it is also a bad sign.
In case of the lack of opportunity to visit an event and to talk to a team, you always can contact a founder and a team online. They should be open and answer patiently all your difficult questions. Even if you ask it every minute.
- Spending a lot of money on marketing isn't always show professionalism.
Just think. A company needs ICO to raise money for a company development. Isn't it a little bit queerly when an unknown company is too fancy. How? And Why? Why do they need ICO if they already have money on expensive advertisement? I don't know too
- You know nothing about a founder. And you cant find any information about him/her.
Always google the founder. Always. And now I'm not talking about his/her FB page. I'm talking about his experience, education, photos, events he took part in. A founder should not be a mysterious person who came from nowhere. His background should be open to everyone.
- They don't have a readymade product.
Let's make a sober recognition. The competition is high. In the end of 2017 - the beginning of 2018 you just can't appear with an idea and ask for money. You need to develop your product before ICO. It should not be an amazing one. It could be just prototype. But investors need something real. They need to touch and try your product. However, just 16% of all ICO has a product.
And what do you think about it? What are your signs of a scam?
Today I've read a couple of articles and I've noticed that the most people are used to label each ICO as a scam. That is not fair, I know. Especially when you work in a startup launching ICO and do your best to make a project successful. However, having worked in ICO industry I learned how to recognize a scam just from one conversation with a Founder. I don't know how to explain this feeling. Probably, my subconscious translates knowledge, but I could not say a have a large experience.
So I decided to make a list of scam signs: (and this is just my own opinion)
- A founder and a team are not open.
Talking with a founder is always nice. They are usually full of energy and ready to talk about their project for hours. No matter how tired he/she is: when one is asking about a project, a founder starts talking about it with eyes burn with a fire. No matter who you are. When a founder deflects, tries to escape and avoids it makes you think that he/she just can't tell you anything important. What is more, it is crucial talking to a team. When a team member doesn't know how to answer a simple question about a product, it is also a bad sign.
In case of the lack of opportunity to visit an event and to talk to a team, you always can contact a founder and a team online. They should be open and answer patiently all your difficult questions. Even if you ask it every minute.
- Spending a lot of money on marketing isn't always show professionalism.
Just think. A company needs ICO to raise money for a company development. Isn't it a little bit queerly when an unknown company is too fancy. How? And Why? Why do they need ICO if they already have money on expensive advertisement? I don't know too
- You know nothing about a founder. And you cant find any information about him/her.
Always google the founder. Always. And now I'm not talking about his/her FB page. I'm talking about his experience, education, photos, events he took part in. A founder should not be a mysterious person who came from nowhere. His background should be open to everyone.
- They don't have a readymade product.
Let's make a sober recognition. The competition is high. In the end of 2017 - the beginning of 2018 you just can't appear with an idea and ask for money. You need to develop your product before ICO. It should not be an amazing one. It could be just prototype. But investors need something real. They need to touch and try your product. However, just 16% of all ICO has a product.
And what do you think about it? What are your signs of a scam?
Hi there! Thank you dor your very informative post on this forum.
And I agree to you that not all ICO is a scam, and it's sad to know that scam ICO affects the legit ICOs.
For me I also search that team most especially if the people behid them is real and also has a lot experience.
The first step of course is to read the whitepaper, then search the existing team information, if we still do not know them then the next step is to find information on various discussions and ICO sites, if we do not find then we conclude ICO project is a scam.
scam ico wont say they are scams very easily, you have to do your research very well and make sure they have a reasonable product to offer.
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