Topic: So many new ICO, how to check if it's scam? (Read 14816 times)

The simplest way on how to check an ICO is its way of realizing their project with a supporting team, transparent officers, solid subsidiary team, and realizable project with its sustainable effort on creating the dealings in the future. Scams are usually different from un-sustained ICOs because they may involve un-sustained development of their projects due to financial incapability. Thus, scams are for appalling reasons and negative purpose just to earn income. Usually, they can be basically monitored.

My advice to you is to go for projects managed by familiar and already existing companies, so you'll reduce any chance of investing in a fake ICO.

eMusic, for example, is maybe the most known company to make the move towards an ICO in 2018.

They're in business for more than 20 years, with almost 50 million customers and close to a Billion tracks sold!
 
Furthermore, eMusic is a subsidiary of Triplay so you can be sure it's not a scam + a very strong team, with a lot of experience in leading major moves and all that implies.

They are developing a community of independent musicians publishing their art on the blockchain,

which in this case, eliminates the need for the major music record labels.


Have a look! https://token.emusic.com/

Some ICOs out there is very noticeable that it is just a scam ICO and more and likely a scam because of the poor website and the "CEO" or the people who started that ICO is not believable.

Only advice is research as much as you can, and even with this it can still be a scam. A lot of these a dice rolls

Points to be noted while choosing an ICO:

1) See if they have a nice and technically sound whitepaper. Whitepaper says a lot about an ICO.
2) Do a background check on the team. If they aren't visible on the internet, they have things to hide.
3) If an ICO has unrealistic expectations out of their token offerings, it means they haven't done their research properly. Shows a lack of dedication and planning.
4) See the advisory board. Big people means good ICO. No big shot advisor would want to be seen as a scammer.

I should suggest you check this site called Coindelite https://coindelite.com/. It is the most delightful media channel to get you the Latest Bitcoin News, Cryptocurrency News, and ICO Press Releases. Check updated ICO list, Live Cryptocurrency price charts, information Cryptocurrencies and real-time market data.

From Coindelite, I came across

SET (Save Environment Token) https://www.set4earth.io/is a future cryptocurrency dedicated to saving the environment by reducing the overall carbon footprint. Something that I loved about this platform is that it’s not focused on earnings, but is a way to preserve and give back to the society.

The coins are called SET. These coins are acquired by buying or renting Wardwizard’s eco-friendly product, the original company of SET. What I liked about their business design is that they are allowing third-party manufacturer combination as well. Users who buy these products through the SET token receive extra discounts.

Viewing multiple companies sharpening their efforts and resources towards saving humanity brings a feeling of satisfaction. Nevertheless, it will take years of continued hard-work to see notable changes in global temperatures and pollution levels. At least we are on the right path.

You can visit its Bitcointalk Thread:

https://bitcointalksearch.org/topic/bountysave-environment-tokenset-190k-worth-of-set-tokens-join-now-4361604

Save Environment Token’s Team is giving 1 Million (~$190k) SET Tokens for Bounty programs. The Bounty program will run until the November 4th, 2018. We invite you to participate in our bounty campaign to support Set4Earth and to build an influential community.

To register bounty program, please click here:

https://goo.gl/PMK8Kj

Mostly the best way would be for you to do some research on the coins, look at the people who are working on the coins. check their previous projects, look at their whitepaper, read it, check their roadmap. Even though they all list new tech and new ideas on their website that does not mean that they all plan to carry it out or know how to carry it out so you need to figure out which ones are going to go the long mile with their ideas.

You need to spend a lot of time looking at information, white papers, team members' history, and team communication, but this can't be 100% certain. It can only be judged by finding vulnerabilities and your feelings. I believe that someone will build a professional website in the future. Screening for unqualified items

Research is the most important! Check team, whitepaper, if they have a working product etc.

There are some companies like trade.io that go through a vetting/checking process for ICO's to make sure they are legitimate, then airdrops tokens from that ICO to you if you hold a certain amount of their native 'trade token'.

For example, they are doing an airdrop for Watchdog ICO. I should add that once Watchdog goes post ICO, it is actually a 'scam-watch' of other ICO's so you can use them as part of your research.

So do your own research, but also use the research of others! As a side, trade io is launching their exchange and are running a few promotions to attract users - have a look here if you're interested in the promo side.

There are many materials to identify fraud ICO or operating system. Imagine that you put money in the bank at interest. You do not go into the first bank. You'll choose a multi-criteria best. With the ICO in the same way.

The very first sign of scam, it's a promise of large sums. Now, when you are promised these amounts, then consider that this is a scam.

You can check if the ICO is a scam by looking at the team responses to some valuable info, and by their response to the questions that they answer, but even if you don't know what to ask, you can observe others in the forum.

even experienced investors can not 100% distinguish a good project from scam . I try to study the team, ask questions

yes, there are so many ICO.
But you will find some ICO worth to invest if you are thorough.
and it is difficult to check scam ICO.
maybe you should do some research first before you join in any ICO to avoid scam.
You can check their website, company profile, the team and their social media.

Do your research. Best ICO with potential for huge returns on investment is the Trufield project ICO. This exciting project will revolutionize healthcare for millions of people. Trufield will provide free health data management systems in developing countries. The Pre-ICO is live and open to all investors, so buy your tokens at 25% discount. Buy Trufield token and learn more about the project here at http://Trufield.com or http://Trufield.io.

I think with experience it becomes easier to distinguish good companies from bad ones, you first need to look who is developing the project and the very idea of ​​ICO

BUT, no matter who they say, it does not give one hundred percent certainty about the success of the project. It may be that both the team and the idea are good, but what happens is that it does not go "into the market"

You can try to find reviews about these projects from trusted investors or crypto bloggers.

You can try to check it in different ways, but nothing will help you, because team may be good, but they can face some juristical problems
 

It helps to analyse the webpage, to see if it is made quickly or they didn't put much effort in it.
Also analyse the team. Google them to find information about them. Are they real people? Did they been involved in frauds before?

You can try to get more info abou the project, but it can be useless too. I try to find some insides about ICO