Topic: So many new ICO, how to check if it's scam? - page 20. (Read 14801 times)

follwing this thread. thanks

An ICO's idea must be usable for people - this is the first thing i pay attention at. If not, then the technology id unlikely to become a success. Also you must check on the team, partners and roadmap. If it is inconcrete or at least something seems suspicious for you - don't deal with it

There are so many ICOs in the market. But a lot of them are scams. You have to be very very careful when you are investing on them. Investing on ICOs is not like invest in coins. Because when you are investing on coin finally at least you will have that coins. But if The ICO that you have invest in are scams, You will be loss all of your money and there will be nothing at the end. Here you have to do more research about project concepts, Technology, Road map, Team members, etc. You can refer whitepaper of the project to find information about above factors. Then another important thing is find the recommendation of cryptcocurrency expert abot that ICO.  If a lot of expert recommend that project, there is a high chance to success that project and not be a scam.

Well for me any ICO that focus on what you can gain investing in their ICO or projecting price for me. it's a red flag for me. ICO should focus on what they want to achieve. Also any ICO who doesn't have good and solid advisors it's a no for me. it's means they could not convince any to advice them or that they are not serious. it's my opinion though.

Need to check whitepaper, prototype, team, and advisors. Would also check the real world application of the coin/token.

Besides idea need to check a team, social activity and what stage of the project.
Just idea is not enough for success

it is hard to tell if it is legit or not .. but sometimes it is obvious to see if it is a scam or what.
I have been in CarTaxi and the and the bounty for signature campaign was very high I hope to earna little bit bigger than 200usd for that...
 but after 2 MONTHS I earned only 100 USD if exchange to fiat ... hardworking and time waiting until ICO  ends and then now there are tons of people change mystically and did not receive their stakes.. some campaign managers are scams like SPACEMAN and DAFAR because they the same person...

airdrops wont scam you as they are only give away without begging for a return like forum posting although some airdropas requires you to pay a specific fee in order to get qualified but that is for them to minimize spammers and abusers. I myself also do airdrops but thankfully i recieved almost all of the rewards that i joined. In your case maybe you did not complete their certain task or you input an invalid eth adress , thats why you didnt recieve your rewards.

searching is the only way understant one ico good or not. we have to search whitepaper and team. we cannot understant to only look websites.

This is a very difficult thing for beginners!

I made a lot of airdrops, most of them won't get tokens!

Do the reward signature task, not yet to scrip!

I hope to receive, no matter how many tokens, this is the first digital currency I earn, I will work harder after it!

According to my experience, if you want to invest in an ICO project, first thing you need to check is team devs, because the information about them can decide the hype and the trust of this project. No one wants to put money in a project managed by scammer, haha.

Personally I trust ICOs which are offered by companies which already have some products.

for me to choose a good ICo is not so difficult, first we must see whitepaper, roadmap, product, team and advisor
join the group telegram, we ask all about the project if they have a solid team and the product is interesting, then the investors will arrive by itself, so the ICo will also succeed and the roadmap will run smoothly.

I trust in projects which already had ready product and good advisers.
Don't kbow 1 criteria, but it is a chain of trustful things in ICO.
Now I am wairin for KickCity Ico now,  cos' it good I think!

Find a good ICO was easy before this days.The worst ICO doubled good gold days...The best way to find good ICO is reading white papers and doing your own research.

it's not easy to know new ICO scams or not. but i ussualy take a list of projects that I want to make an in-depth study of each project. and we can do some research such as read whitepaper, recognize that team, and see that roadmap. if it does not match what you want then look for another ICO project. 

We are doing an ICO ourselves soon (www.c4f.io), so I can share what we focus on at Coins4Favors to stand out from the crowd and make sure investors see that we are a real team with a great strategy to successfully implement a unique innovative idea.

ICOs I would invest in should have these attributes as a minimum:

1) A compelling idea that is simple enough for people to understand it. If it is all only buzz words and you don't understand what the Altcoin will do for you, stay away.
  (see for example our video explaining our FavorCoin, anyone can get the idea in 2 minutes https://youtu.be/EXquipYf7xk )
You should be able to answer this question: What problem is the Altcoin solving, why would people use it ?

2) Ensure that the business plan is long term and sustainable. Just getting ICO money but not having a good business plan behind it how to make the product sustainable and grow the user base will result in the value dropping.
How will the Altcoin grow in value, how will the company sustain operation ? Even if they collect a lot of money in the ICO, without a long term revenue and profit source the operation will dry up and the coin will fail.
You should be able to understand how they will grow the project and sustain operation once the money from the ICO is used up for developing and marketing the project.

3) The team. It is ok if a rather inexperienced team has a good idea, but there should be some accomplished people on the team that have experience in running projects and business acumen.
We at Coins4Favors post our LinkedIn profiles that show our long term careers in different industries and that we are real people. Make sure team members are transparent and authentic.
Many skills can be bought and hired, so dont get fooled by the number of team members (we can find 30 people to join as advisers or members easily), but rather focus on an overall sound background in business strategy, business plans and project execution  for a team you invest into.
Do you think the team has the skills to plan, execute and grow the project based on past experience, skills and background ?

4) A working prototype. While the intend of an ICO is to collect money to implement an idea, nobody with a sound business acumen will start a project like an ICO without doing a proof of concept or developing an Alpha version.
As the founder behind an ICO project you invest upfront, so you better do a sanity check yourself. At a minimum you setup a separate entity, need legal support, etc. - all this is money you need to invest upfront.
In our case we developed an alpha version of the SmartPhone App and platform and played with the design of the smart contracts to ensure our vision and ideas that make our platform unique are achievable and realistic.
At the same time this gives investors a better chance of the product reaching market and being scaled up.
Can they show a proof that their idea can be implemented ?

5) Transparency of the team and accessibility
We are starting to market our project now, so we will be available on all the channels to answer questions collect feedback.
Is the team reachable and does it respond to questions or concerns ?

Good luck with your investments, I hope you give us a look as well  

Do some good research. Firstly check the team, whitepaper and stuff like that.. See if you like the project and if it's realistic.
Then look up for other people opinions, if a good amount of peeps like it, than probably not a scam ico, can be wrong.

Try to collect as much iformation as possible. If you cant find the information you want to know then it doesnt matter if this is scam or not just dont invest. There is no way to know for sure scam or not.

only but a fee knowledge i have about identifying real ICos that which is checking on the team of the ICo if they are real project admins,you check on there profile. the website too can also if you and incite of what they are into,if they have a runing project to back up there ICo,these little information can help.