A poorly written whitepaper gives good hints that the ICO is likely to be a fly-by-night kind of setup.
I will give those a miss!
Topic: So many new ICO, how to check if it's scam? - page 33. (Read 14858 times)
The best thing to do is to research. There are considerations to know which requires a lot of studying to do such as technical and monetary rules, public interest, market capitalization, trading volume, community strength and development activity of altcoins for ICOs.
In my opinion you should be know first track record of the personality team founder because this think is very important to detect legit or scam project. Then study aim of the project, is the project really can solved some problem. But if still newbie in ICO, we can look for other review in this forum, github and some youtube channel who expert in crtpto market.
There is 100% risk involve in all the ICOs because now a days many ICOs are only launching just to scam people if you want to check which is scam and which is not its better to do proper research on them. The best way to research about the ICOs is to check the whitepaper and the website first. In that you will get more than 90% information that it is worth to invest in that project or not because if the website and whitepaper are not good its better to leave them its not worth it. If they are good do little more research and there is nothing 100% secure in this world we have to take risk to get the reward so better to do proper research about the project and if your heart says its good and it is worth to invest then go for it but only invest the amount which you can afford to loose and also do not put all the eggs in the same basket.
First you must read their announcement thread , if there is something suspicious that is being said in their announcements its already a scam ICO. There are a lot of ICO's that are being launched now , many of those are scams but its hard to found unless it will failed in the end , some are successfull in the end but the money raised will eventually scam by their own devs and managers.
You should invest only in structures you completely understand. Sounds a bit obvious but with ICOs it's the main thing. Don't overestimate your skills in analysis especially with lack of experience.
So many new ICO, and they all have new idea and tech listed on their webpages,
and even the websites use the same template...
but so many new ICO, how to check if it's scam, or worth to invest...
and even the websites use the same template...
but so many new ICO, how to check if it's scam, or worth to invest...
The answer to this never-ending concern has not changed. You need to look and study well the project. Meaning, you need to read the ANN thread and the whitepaper and then understand them. Visit their website as well. Look at their roadmaps and objectives and then carefully check the background of each individual who are part of the project's team. Check their social media sites if there are regular updates. Reach out to the devs.
What is the most important is read the Whitepaper first, then you can see it's profitable to join or not.
So many new ICO, and they all have new idea and tech listed on their webpages,
and even the websites use the same template...
but so many new ICO, how to check if it's scam, or worth to invest...
The only way you can do is to analyze the project. Do a variety by looking for information do various places, including websites and other forums. If you look at it then whitepaper be one thing that should be the center of attention because there are various vision and mission of the project. You will get satisfactory results if successful in making the right decision.and even the websites use the same template...
but so many new ICO, how to check if it's scam, or worth to invest...
You can also check their etherscan history if that token is an ether contract so that you can determine if their actual token sale activity of the ICO. With that ways of checking I guess its one of the best ways in order for us to have the assurance of investing with a trusted ICO. Whitepaper was just a proposal features but not the actual progress of the project, but it also helps you to gather firm understanding on how the project is going through the progress of it's coin crowdfunding.
So many new ICO, and they all have new idea and tech listed on their webpages,
and even the websites use the same template...
but so many new ICO, how to check if it's scam, or worth to invest...
The only way you can do is to analyze the project. Do a variety by looking for information do various places, including websites and other forums. If you look at it then whitepaper be one thing that should be the center of attention because there are various vision and mission of the project. You will get satisfactory results if successful in making the right decision. and even the websites use the same template...
but so many new ICO, how to check if it's scam, or worth to invest...
look at VECTOR. That is the exact way a non-scam ICO looks. Amazing team, product already on the app store, founder gives his mobile phone number out in the white paper.
That is how a "non-scam" should look
That is how a "non-scam" should look
It's true now it's very hard to find a good ICO, and for beginners even harder. Personally,I first look at the team and what they already have experience before that time. Then I watch how they communicate on the forum and in groups, and then I consult with more experienced friends about the project if I have more questions. But still it is impossible to be 100% sure of the project
You can google the information about the team. A careful search and analysis of information will help to draw the right conclusion. Now almost any information can be found on the Internet.
Check the whitepaper first.
Check if there is a webpage for their service or if it is true.
The team needs to be legitimate. I have seen some of here that copies the team from another ICO team. Try to look if they have linkedin accounts. Somehow you will see there if they are working for a project.
The developers and the advertising manages should be active.
Dont be fooled by large amounts of money that they are offering. That is so good to be true.
Check if there is a webpage for their service or if it is true.
The team needs to be legitimate. I have seen some of here that copies the team from another ICO team. Try to look if they have linkedin accounts. Somehow you will see there if they are working for a project.
The developers and the advertising manages should be active.
Dont be fooled by large amounts of money that they are offering. That is so good to be true.
To check if those new ICOs are scam, you need to make your own research. I highly suggests that you read their whitepaper and roadmap. Look at the background of the developers and if the person in the picture is really them. You can also ask on this forum. Many people are willing to share their knowledge about it.
Look at all ICO's like at shit. It works. First you need to look at their site and you can find information. The more information, the less the probability of a scam
Yes, that's right. It is also important to evaluate the idea of the project. If the idea is cool and you are ready to invest money, then ICO should be good. Really good ICO 1 out of 10. 
Unfortunately, the scum increasingly! And to choose a serious project is increasingly difficult. Nevertheless it is possible! In my opinion, the first and most important moment is the previous affairs of the team (of course, all information should be available)! Secondly, who is the sponsor. Next, I look at advertising (promotion in social networks and not only) and responsiveness to questions. Of course, the project documentation should answer all questions of people interested in the project. It is also important that all information be written in "pure language", without errors.
I think this is the question which many people wanna receive the answer. Unfortunately, there is no correct answer for this question. You have to use your knowledge, your experience to confirm it is a scam or not.
will still not be enough, you have to check what is being done with your Kapital
or just join the community that is beeing managed arround the coin
and even then there are problems concerning the political environment
regards
Research. No way to be 100% certain, but read whitepapers, talk to devs, etc. The less info you can find, the greater likelihood of a scam.
Totally agree. Check the Bios of the team and make sure they have some background in the space their ICO idea is based on. And also make sure their idea works with the blockchain technology.
In my opinion, experience and team are the most important. I would also like to see a prototype of the product at the very least. If an ICO only has a landing page with a few team members, I'm leaving. Check the LinkedIns of the team members as well as the advisors. Do any of them actually have experience in fields related to the ICO?
I don't think you can expect a full-fledged product since that's why they're raising money, but do look to see if they've prototyped what they plan on building.
I don't think you can expect a full-fledged product since that's why they're raising money, but do look to see if they've prototyped what they plan on building.
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