Bitcoin Forum

How to avoid ICO Scam: Ask these questions before you decide to get into ICO (Initial Coin Offering)

Q. What problem are they solving ?
Q. What is the current solution ?
Q. What is proposed solution?
Q. Find out target market?
Q. Look for the competition ?
Q. Analyze team members/advisory board ?
Q. Would you use the product ?
Q. Can we expect this ICO to stay at least 3 years ?
Q. Look for their social platforms and spot any issue
a. Website
b. Twitter
c. Reddit
d. Slack
e. Telegram

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https://youtu.be/rRsTFrJPi7E

Nah, you are getting all of the points mate, i must try to see about the fact that a lot of people are not even care with it. many of them just try to follow others to participate in any ico without do any research.

The only way to avoid those scammy projects is just to stop investing in there, i have never trusted in any ico because most of them are scam and they only want to raise million of dollars to execute an idea who only requires a few thousands to develop, but of course that they spend a lot in marketing, because they want to raise as many millions as possible, but i dont mind, i have never fall in one of their traps, i dont want to invest in them and this is how i prevent myself to lose money in there.

This is very useful information to lessen the chances of being scam by useless ICO's that were created just to steal money from its investors.
Keep up the good work OP and I would love to see your future recommendation of good ICO's.

I think I now believe in this. I was investing on them but have not profitted. No matter how you research on them, try to be careful not to be scammed, does not make you safe most times.

They most times remain below 1500 list of coin and will never leave such spot as if they are stamped to be on that spot  ;D

You need to check the ICO carefully before you invest on it. You also need to have a standard in looking a good ICOs, do not just invest on the ICO. Some people do not care about the real essence of the project. They just invest just to earn they do not even read the purpose of the project.

Well its tough to avoid such thing, most of the investor here were scammed once or twice, this is something we can't avoid but we can minimize by doing tons of research before putting our money on it, that way we will know if a certain project is worth the shot, avoid the joining the hypes as much as possible.

What many of you fail to realize, that ANN threads are dominated by puppet shill accounts. They create the appearance of "being popular or safe" based on the volume of posts. Individuals then have fomo, and invest without research, this leads to probably the majority of scams that occur. Don't ever base your investments on appearances, always research what was stated above.

If you're still uncertain, there's a trick you can do that very few do, is contact the devs/creators, pretending you're investing large amounts of money. Get a feel for what they're like, often, it's very revealing.

Before participating in any ICO  I often deeply research the project. My advice is to pay attention to whether the projects have a ready-made product as it is some kind of guarantee that it is not a scam as well as long termed activity before ICO. It is an indicator that team goes straight to their goal and will not give up.

Various kinds of ways of fraud are done through ico, one of which provides a large bonus offer at presale, as investors do not get tempted and fooled by a scheme like this, even though the form of the project is very interesting. Because excessive bidding to investors is a feed from the scam project

In my opinion, the video from dev team that explained the project was important, because it was difficult to fake.

Thanks for this list, you have pointed out some interesting questions and I would use them in my ICOs researches. But unfortunately no one from this forum cares and people will continue to invest in everything and to lose their money.

I'd rather avoid these ICOs than bother myself about the long list you've put down there. Hard to tell these days which projects are legit are not because of packaging. A project be looking all great until they conclude the ICO and ask the community to contribute toward top tier exchange listing