Nowadays, the ICO market is mushrooming after the rain, even the more experienced Scam the less likely to be a toddler in the bounty, so it's a mistake to have the experiences of the previous ones passed on. For example, here are the basics and what's more, we invite people to add
1. Anonymous team
This sign is probably sure everyone knows. The first thing to do is to check the development team of an ICO project. People will need to know the information such as the company behind the project, where the company is located, and who is involved in the project. Because if this is a good project, why should they hide their identity?
In addition, if a person is really interested in a project, they will want to know who the CEO or CTO of the project is, or even find a way to get in touch with the project and the pulse. around it.
So, the anonymous team is a sign that needs attention first.
2. Vague whitepaper
Whitepaper is a great barrier for us because English is not our native language. In addition, the whitepaper of a project will often be very long, so reading a project's whitepaper can be said to be a torture. However, reading the whitepaper is a must if everyone wants to invest in an ICO, which may not catch on, but that is a must.
Things that need attention on a whitepaper are the in-depth explanations of their problem. They can talk about ideas, markets, etc. But if they are a really good project, they will have a thorough explanation of the actual use cases of the project. If it's a fraudulent ICO project, then in the whitepaper there will be less technical issues, they will not talk about blockchains, decentralized issues, etc., which they will often try to talk about. of the project or how, how nice.
3. No community or less interaction with the community
Each project will usually have its own community to discuss the project. Depending on the project, they will develop their community on a variety of media, be it on bitcointalk.com, telegram, slack, discord, etc.
What people are looking for in this community is whether it is big, whether there are many people questioning the project and how the development team answers those questions. Having passed the first sign means that everyone in the community knows who is behind the project, so if the development team wants to cheat a large community like that then it will be very difficult.
But how does a new project have a large community? If the ICO project is really good then the development team will build their community before they are ICO. Of course, nothing is certain, but most likely.
For me, an ICO project with a larger community, I will feel much more secure.
4. Activity on Github is not much
Github is a web site that any ICO project must use, because this is where the development team shows people what they are doing, what the outcome is. When examining the Github of an ICO project that people see no or little activity of the development team, this is a very suspicious sign.
Maybe people will not understand Github, but this is also an important step to check whether this project is potentially fraudulent or not.
5. ICO Website fake
Making the ICO fake website is likely to become a hot trend for scammers this year. In the past year 2017 there have been many cases like this and have caused many people to lose a lot of money, of course, the scammers are the most beneficiaries and this is also a good way to use. But there are many prey stabbed in.
At this point, we need to know a trick to know if this site is secure or not, that is to check the SSL certificate (SSL certificate). When people visit an ICO's website, look next to the domain name and click on the green locks. When checking the SSL certificate, we can know which company is behind the site, for example ICO of the Telegram will show the company name is Telegram for example, if the name of another company that is. is definitely a fake website.