How would you know what is a SCAM ICO?

Cofee.BLUE

sr. member

Activity: 546

Merit: 250

Quote from: silent17 on October 02, 2017, 09:51:48 PM

Hi, I would like to ask. How would i know if an ICO campaign is legit or a scam for us to avoid this kind of campaign?

Actually it is very difficult to predict if the ico is legit or scam, you just need to be careful and alarm to what will happen.Also finding and analyzing the site and channels for you to know the details of the bounties or ico. Now if you recieved the earnings and you know that the stakes of yours is high and your earnings is low it means somebody makes advantage to it. Also assume that youve been scammed. The best way to know if it is legit, just be careful and oriented to other people for you to know what is legit or scam.

VTS

member

Activity: 112

Merit: 10

Licensing & Monetizing Digital Content!

Here is a check list for icos! https://bitcointalksearch.org/topic/how-to-start-an-successful-ico-2131560

You can use it to verify if the ico you are interested in is fulfilling all or part of the points!

However every project is individually and besides the team, skills, technology used and promising made. You still need to make your own judgement about every project. There are tons of scam icos around and even for skilled people its hard to identify them as such. Joining an ico will always keep a risk, higher or lower, depends on the project. But just do not invest more as you can afford to loose. See it as some kind of gambling with a little security of the project as whole!

Other: I do not think that ALL icos are scam! Ico is a opportunity to get new technologies and future profitable projects funded. Not every team can afford to financial the whole project by them self and work 1 - 2 years out of own pocket. therefore they offer shares of future profit to get things done! BUT as said, ico opportunity got abused by scammers. sadly but true. So watch out!

rudolfaxl

legendary

Activity: 1372

Merit: 1001

First of all I analyze the team. It's perhaps around 30% of confidence in project. After that whitepaper. It must be in details and witout any mispells. After that I'm trying to analize site and community channels like bitcointalk, slack, twitter, telegram and so on. Here I'm trying to understand the level of hype. Btw bounty politics is also very important. Good projects are rarely make more than 1-2% bounty reward.

konco_kenthel

full member

Activity: 378

Merit: 100

Quote from: silent17 on October 02, 2017, 09:51:48 PM

Hi, I would like to ask. How would i know if an ICO campaign is legit or a scam for us to avoid this kind of campaign?

Actually to predict an ico is a very difficult fraud but we can know it after the end of the campaign later. The signals start from the long waiting participants but the distributorship fund and the place for coin exchange is not available quickly.

blockchainmarketus

full member

Activity: 448

Merit: 100

Quote from: silent17 on October 02, 2017, 09:51:48 PM

Hi, I would like to ask. How would i know if an ICO campaign is legit or a scam for us to avoid this kind of campaign?

The developers of ICO is very important, are the developers use their real name or fake name, are they indicated scammed before , and the listing of publication, tokenmarket I think one of the best ICo listing.

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

The ICO itself is scammy by design.
It violates many core principles of crypto ideology.
There is no such thing as a legit ICO.

silent17

full member

Activity: 420

Merit: 119

I'm just saying this in general, well as you can see. I'm still new in joining a campaign and i think this thread will also be helpful for those newbies like me so that they can avoid scammer.

deadsilent

hero member

Activity: 1148

Merit: 500

Quote from: silent17 on October 02, 2017, 09:51:48 PM

Hi, I would like to ask. How would i know if an ICO campaign is legit or a scam for us to avoid this kind of campaign?

Check it's whitepaper. If they don't present their whitepaper. Then consider that as a scam. If they have a whitepaper read that very carefully because some of scam ICOs these days are just copy-paste from other project. But the most effective way to determine if an ICO is a scam is to check dev team. Some dev teams scammed a lot of their investors before. So if you saw them in a project. Simply avoid the project to avoid loss because obviously they are going to scam again. Also check the road map of the project. Scam ICOs also not providing any roadmaps or plan on their project.

Fesatmas

sr. member

Activity: 2268

Merit: 275

Quote from: silent17 on October 02, 2017, 09:51:48 PM

Hi, I would like to ask. How would i know if an ICO campaign is legit or a scam for us to avoid this kind of campaign?

Whether this refer to signature campaign?
Knowing ICO that legit it seen from the whitepaper content of the project is promising or not. And investors interest can indicate that the ICO is legit. If knowing ICO scam it's very hard to know even ICO with grade good or can scam.

zidanaltaer

full member

Activity: 340

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idap.io

I usually see who's the team background, the developer, the whitepaper, the main website, the rational profit sharing, the token allocation, some publications and their partners

silent17

full member

Activity: 420

Merit: 119

Hi, I would like to ask. How would i know if an ICO campaign is legit or a scam for us to avoid this kind of campaign?

Topic: How would you know what is a SCAM ICO? (Read 276 times)