Topic: So many new ICO, how to check if it's scam? - page 38. (Read 14816 times)
guys is very difficult to determine if is a scam an ico or is fail to succeed so try to make a good research before you continue about the solidity of the team or whitepaper or the website .
You can use Linkedin to search for team members, most of the times executive leadership behind these projects have plenty of experience in startups as well as IT and Fintech industry, you can definitely spot a scam if there are some loose ends around the heads of the companies.
Furthermore you need to do your own research.
Furthermore you need to do your own research.
The amount of work they put into presentation, real people in team, mistakes, overall communication
Never invest more than you can lose and keep in mind over 90% of all VC funded start-ups fail and they usually go through crazy due diligence. So my guess for ICOs it will be even higher ratio.
In this forum there are many same topics, read and think - is my advice for you
The last good article that i read , please look - http://bitguru.co.uk/november-top-icos/
The last good article that i read , please look - http://bitguru.co.uk/november-top-icos/
Do some background check on the ICO, check the team behind the project, their website and read whitepaper carefully. If its too good to be true, then its probably a scam.
It is not very easy to identify scams.
Even when the ICO is not a scam, it often becomes a target of phishing attacks: people create fake websites using the project's name (for example 0xproject.info instead of 0xproject.com), use the project Slack to send fake deposit addresses and stuff like that.
Even experienced users should be very cautious.
I can give you some tips that can help you to identify if a project is serious. These are some key points that I and my partners (in the Auctus Project) are considering of extreme importance to show the community our project is for real:
Team: check if the project provides you the real names and information about team members. Check their social network profiles, previous achievements, if you can't find anything about who is behind the project you should be cautious about it.
Bitcoin Talk Forum Thread: See how they respond to critics and doubts about the project here. I have seen some projects that create self-moderated threads (when this is the case, there is a warning message below the thread name) and delete every message that says bad things about their project.
ICO (token sale) terms: See what percentage of the tokens issued will belong to the development team, and most important, see if they defined a vesting period for the dev tokens to be locked. For example, the TenX project had a very successful ICO and they have a 4-year vesting time, so you can see that they are really committed to the project. In the Auctus project, not only the AUC tokens held by the team will be locked, but also the ETH raised. The funds will be released gradually to cover only project expenses.
Product / Development progress: check if the team is actually building something, or if they already have at least a demo or alpha version of their product. This shows they can deliver what they are promising and that they are not only after your money.
Even when the ICO is not a scam, it often becomes a target of phishing attacks: people create fake websites using the project's name (for example 0xproject.info instead of 0xproject.com), use the project Slack to send fake deposit addresses and stuff like that.
Even experienced users should be very cautious.
I can give you some tips that can help you to identify if a project is serious. These are some key points that I and my partners (in the Auctus Project) are considering of extreme importance to show the community our project is for real:
Team: check if the project provides you the real names and information about team members. Check their social network profiles, previous achievements, if you can't find anything about who is behind the project you should be cautious about it.
Bitcoin Talk Forum Thread: See how they respond to critics and doubts about the project here. I have seen some projects that create self-moderated threads (when this is the case, there is a warning message below the thread name) and delete every message that says bad things about their project.
ICO (token sale) terms: See what percentage of the tokens issued will belong to the development team, and most important, see if they defined a vesting period for the dev tokens to be locked. For example, the TenX project had a very successful ICO and they have a 4-year vesting time, so you can see that they are really committed to the project. In the Auctus project, not only the AUC tokens held by the team will be locked, but also the ETH raised. The funds will be released gradually to cover only project expenses.
Product / Development progress: check if the team is actually building something, or if they already have at least a demo or alpha version of their product. This shows they can deliver what they are promising and that they are not only after your money.
thank you sir now understand how to know which ICO which is a scam I often follow the ICO which turned out to be a scam I did not go to invest in his coin but I participated in his bounty champaign of course I lost hope when I know what I did was an ICO scam very useful to me
many way to check it,,, the easiest one is by reading the whitepaper ,, can also we check on their social media forums, or anyone who is incorporated in the team developernya
if you want to see ICO scam, first check their team and team experience.
so many ICO have good concept but using fake account linkendin, profil or anything..
check their team, that very important..
so many ICO have good concept but using fake account linkendin, profil or anything..
check their team, that very important..
For me there are a few signs to look for in a ICO
- Strong team - Both in development team and also the CEO's / marketing (no point having a great team to create something, if nobody can advertsie it and push the startup in the right direction.
- Realistic vision - not aiming too high or if they do not reach their target everyone who invested will be disappointed
- Solid whitepaper - Well thought out, shows realistic goals, a strong good vision and a plan of action
- Strong social media presence - A social media that shows they are connected with everyone
- Good customer support - Shows they care, and they have invested time and money into making sure the average investor can ask questions
- Good website - A business who is willing to throw time and effort into a good website are less likely to be a scam
- finite supply - ICO's with no cap can be dangerous and can simply just damage their own coin by releasing more for more investment.
-Market they are getting involved with - Is this a new market? or a dying one? who controls the market?
Finally
- Good concept and catchy name - A good ethos and a name that makes them stand out. Personally i would avoid anything that is something "coin".
If these are in place, then it's a good sign. I am looking at Crowdholding at the minute, just started today.
https://ico.crowdholding.com/
- Strong team - Both in development team and also the CEO's / marketing (no point having a great team to create something, if nobody can advertsie it and push the startup in the right direction.
- Realistic vision - not aiming too high or if they do not reach their target everyone who invested will be disappointed
- Solid whitepaper - Well thought out, shows realistic goals, a strong good vision and a plan of action
- Strong social media presence - A social media that shows they are connected with everyone
- Good customer support - Shows they care, and they have invested time and money into making sure the average investor can ask questions
- Good website - A business who is willing to throw time and effort into a good website are less likely to be a scam
- finite supply - ICO's with no cap can be dangerous and can simply just damage their own coin by releasing more for more investment.
-Market they are getting involved with - Is this a new market? or a dying one? who controls the market?
Finally
- Good concept and catchy name - A good ethos and a name that makes them stand out. Personally i would avoid anything that is something "coin".
If these are in place, then it's a good sign. I am looking at Crowdholding at the minute, just started today.
https://ico.crowdholding.com/
Proper research beforehand would do.
Things to look at:
1. Team and reputation
2. Previous experience
3. Idea/problem solving
4. Market size
5. Whitepaper
Things to look at:
1. Team and reputation
2. Previous experience
3. Idea/problem solving
4. Market size
5. Whitepaper
People lose so many great investment opportunities because they believe many ICOs are scams. The only thing I can suggest to reduce the risk is to ALWAYS do ample research before investing. You can never know too much about the ICO you are looking to invest in. Take a look at their business plan and whitepaper. Also look at how they plan to execute the plan and what their goals are. I would also recommend looking into the people behind the coin. Check their experience within the business aspect of the coin if there happens to be any business behind the coin.
this is the end of many new emerging ico projects, and what can be done is by research and analysis, but it can not guarantee a hundred percent of the project is not a scam project, because now almost everything can be falsified, so it should be more Caution
yes there are large number of ICO's are launching now a days and there are number of ICO'S in past proof scam. so if anyone want to invest in ICO'S they need to get full information about ICO and also discuss with your senior and then decide that weather you need to invest or not. according to my opinion invest small in start after sometime when you sure that everything is well then you can increase your investment.
You got to do your due diligent checks and research on the ICO you are interested in, study their whitepaper and understand more about the project. This will lower the chances on investing on a scammed ICO.
Invest on ICo that already proves something, companies that have name on stake if they will scam someone,but in terms of xhoosinv on a potential ICO just know its lead,what makes that project standout some newcomera really deserves to be noticed and to put some focus,we will inly realise it when their ICO already succeed.
You got to do your due diligent checks and research on the ICO you are interested in, study their whitepaper and understand more about the project. This will lower the chances on investing on a scammed ICO.
See the project fundamentals, see whether the team to do things, there is no sustainable development
The basic things what i look for before any investment is mainly i see whether the ICO is related to any product whatsoever . I also keep a watch on the whitepaper which gives details about the developers , their product details and their foresight about how they want to excel in that business. We should also see whether their roadmap/vision is published , their team members details on social media on their achievements/milestones. These are very few ways to see whether the ICo is legit or not, hope these inputs would suffice before investing.
Is there any website to be the first step to check an ICO website?
Thanks
Thanks
It's impossible to check scam or not. The only way is make your own research and not invest to match in one project. Or give work to team ofprofessional investors to choose some for you. See my signature Finshi is one of them
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