Bitcoin Forum

It is becoming more worrisome in the cryptosystem, so many scam ICO and also failed projects. We do so many bounties and end up with useless tokens of failed project.

I am quite an amateur in the system but I know research has to be done before embarking on investing time or money in an ICO by reading about them in different platforms or even checking out their community, team and investors but sometimes I still guess wrong.

I would like to ask the experienced in crypto how to be sure a project isn't a scam and how to determine their success.
I've been following the forum quite a bit and I hope I get response to help me and others enlightened.

Thanks for your time. Much appreciated

my joint advice is to see their team whether professional or not.
then read their whitepapper. website brand. roadmap and their target.
then assessing what their products deserve in the market or not.
then look at the minimum amount of investment.
and who their bounty manager if you bounty hunter.

Off course in todays date there is high chance that we may get to see highly qualified whitepaper and roadmaps. The stage make up can be done in such way that everything looks like perfect investment portal!
But it may not be like that. What you should be looking now a days is how much porgies these people have already made? Do they have working models, real life projects or are they starting from the scratch at all. If its from the scratch then try to be more strict about it but if they are start ups with in built products and services then they could be goos investment.

At the moment we can not ask any organization that gives you advice on investing. We must do it ourselves.

If you want to invest your money in any crypto currency, you have to scan all the information about this project.

Read the White Paper

See the website.

See Prototype

View team members: who are they? What did they do before?

This should be the real problem that they want to solve.

And this service / program / application must have a future.

If you think that investing is simple, you are wrong, but it is real.

I wish you more money and good investment.

Majority of ICOs are failing due to the market situation. It is difficult to tell which project is legitimate or not. Some projects are just copying other project's white paper just to make it legitimate, so it will take a thourough review for you to judge whether a project is a scam or not. Take your time, so your effort on joining campaigns will not be wasted.

I am also a beginner ( and it is very difficult . even if the project takes place in all of the above aspects, it is not a guarantee of success . to life . Many cases were where the project is super in all aspects , but still scammers

I see it just from the number of token their sold out..many partner that was support their project and also they project implement in the field of .how about the project long-term or just limited to the project the launch of the coin course..and than we must look who their team that was working at their project..is passed or not their experience

The market has been created a lot of fear for those altcoin traders to buy the new ico, the majority of them were doing a lot of research to determine which is ico that will give you a very huge profit in the future.,
You can see that even some new icos have no buyer after they have listed on the exchange site.

I think we should pay more attention to the open source code of this project.
If the project remains actively developed, the code is updated quickly and the quality is excellent, then I think the project is worth investing in.

Much appreciated, i was also advised to check telegram activities

Telling us that if we buy in at $0.50 and their coin will go to exchange and be worth more than $5 or so is a red flag for me. No-one can predict what their coin will do and making statements like that gives me big red flags.

In order to detect scam ICOs and potential failed projects, everyone who is joining any bounty should take time to read comments and reviews about that specific project.

look at their team carefully,
sometimes a scammy project will add any picture from the internet as their team,, put a good profile link to their team member as well
and read their whitepaper, its a copy paste from others project or not,,

Honestly, almost nothing. One of your main guarantees may be the media nature of the person behind it. Let's say, besides Pavel Durov, I have confidence and I am ready to invest without a share of doubt in his ICO project. And if some unknown person offers to invest in a supposedly promising ICO project and promises to increase funds in a short time without risk, then I will pass by without listening to him.

My advice is to jump in and start getting involved and see what types of projects fail and which succeed.   It's more of a feel than hard fast rules.  If you start to get too ridged you will start to miss opportunities. 

IIC scams may not be detected at the beginning but ICO scams are detected after a party has thoroughly researched the project.

And detecting projects that have the potential to fail is very small, sometimes when we think the project failed, it works and vice versa. So we believe what we are following, the easiest one is to see the ads that are scattered everywhere, like on YouTube, if you often see crypto project ads there then 70% of the projects are not scams and also fail.

You need to watch out z team,to study the white papers to monitor the amount of sold tokens, transparently vzaimodeystvovat with investors.

Nohow. You just have to trust the professionals. If this project is trusted by the big players of this market, then why not just trust us.

Its not easy detect scam or not scam ico, but I can help with this criteria, just analyze project:
-Team
Experience and Trusted: visit their linkedins and search their names in internet. Also analyze Advisors
-Whitepaper
Read whitepaper, research it, you can see in whitepaper a lot of to say invest or no
-Media
Look at social networks, follow the project, good team will be update your social networks
-Check GitHub
Just check code of the project, maybe there are a lot of errors
-Read other info:
Roadmap (good roadmap - 5 year)
Token Distribution
Use of Proceeds
Website
Video
Privacy Policy
And other, of course its not full list, good luck!

100% guarantee no one will give you. But, look who is launching the project, what projects they had before, how profitable they are, what team is working in what country.

I like to think that before anyone invests in a project, they read the whitepaper, check out the team members behind the project and also look out for reviews of the project on the different social media platforms. By doing this, you should be able to determine to an extent, whether the project is a scam or a good one.

There are a number to recognize the "reality"of the project. One of the most understandable are:
- inexperienced or anonymous developers
- not enough information on the project website
For more information, it is necessary to study the Internet.

First of all, you need to check the reliability of the ICO project. The project should be realistic and have a clear budget plan; check whether the project has circumstances under which the obligations to the holders may not be fulfilled and whether the actions with risks are considered; tax obligations should be clearly defined; the availability of a license to carry out financial activities. If these points are met, then, in my opinion, the project can be considered reliable.

I agree with most of the posts above, but also, you need to look at whether the company can actually make money however good the project is. How far away is the company from actually being able to generate real-world revenue in $ or crypto? This is the sign that the token value will increase after ICO.

I believe it's hard to detect potential fail projects but easier to detect scam ICO's. I usually check on the team of the project's qualifications and see if they are ambitious enough with a realistic goal. Also read the one page whitepaper.

No way of knowing for sure. A lot of them are struggling to reach their softcap lately just as the market is so low in general. Some are easy to spot as complete trash though.

I think that we cannot be 100 percent sure of that. However, you can study the history of the company, read reviews, study the biography of its owners. In General, to dig as deep as possible.

One of the most important criteria, as I believe, is the investment not with the help of Bitcoin, and the ability to invest in rubles or dollars in a real account.

then what relation do such investments have to the crypto currency, if it is a question of dollars and rubles? This fraud is aimed at making real money, not crypto currency.

It's easy to detect scam ICO. The most important is to background check the ICO team members. Research about them if they really exist. There so many way to verified them. They should also doing live streaming for Q&A  not just posting about their project. Also check their advisor, you can contact those ico advisor easily and you can ask them for confirmation.

I have been involved in the crypto currency market for almost a year, but I still do not understand how to accurately identify fraudsters. Any information will be useful to me

Nevertheless, experienced fraudsters can forge everything very qualitatively, and it will be difficult for us to find a mistake :(

To detect the high potential of an ICO to become a scam you need to do a lot of research. Through the key points to look for:
- website (design + protocol - https to be always used instead of http)
- Whitepaper
- social media activity
- team experience in other projects
- milestones achievement if you're in after ICO
- references on other websites.

I would highly recommend you to have a look to non-ICO projects. (have a look to Staker project in my signature if you're interested)

By far the biggest factor affecting if the project will turn out to be a scam is the people behind the project. As a general rule I will not work on any project where I am not able to confirm the identity of the people behind the project. Even then you need to accept the fact that you are investing in startups and even with honest and well intentioned people behind them the majority of them will fail. You just have to make sure you manage to invest in the ones that become huge successes to offset the losses on the failures.

Actually you can do all these steps, and still fall victim to scam ICO. Very good whitepaper, brand roadmaps and even the best bounty manager and still no chance of verifying if that ICO will be successful of not in the end. But if you do your research, theres at lest some chances you'll land into some profitable projects.

Definitely true. Even top bounty managers in this forum can fall victim to theses frauds and I have experienced this firsthand. I have always followed top bounty managers to avoid landing on scam ICO but still there is no escape.

indeed we cannot be sure to detect ICO scams or potentially failed projects. but we can minimize the failure by analyzing their white paper. whether the project whose objectives are clear or not, how the project forms and the team that works in it. there we can judge whether this project is suitable or not for us to participate in it.

It's easy to detect the scam project or the real project. Always check the roadmap, whitepaper and the manger who managed this project. If all clearly, then you can check this ICO in ICO bench, linkedin and the others site for check the rating of thats ICO. And the last for make you believe this project is real or not, you can check their social media's activity, if the admin always share the project with transparency and you can believe this project is really real.

to be able to see the ICO scam or fail, then I have a trick. the first is viewed from the sale of the token. Select the project with the open sales, so we can also opt in to supervise the sales. If possible, make sure that the information about the project is always updated.

It is currently very difficult to distinguish ICO scam because they are experts in manipulating new projects to become real projects, such as the formation of project teams and creating whitepapaer.

Doing more research on their team and checking their offices is a good thing. Transparent in the project team's personal data is an added plus for the project.

This is a very difficult subject. If it was easy to identify false ICOs, many people wouldn't have been victims. I think the crypto money market would be better.

why is difficult ? I guess if you are not lazy to read all the information like the whitepaper, roadmap and team behind the ico project it's very easy to see which legit projects or projects just want to make a profit even scam

The more you practice, the more you will begin to understand which projects are promising. It is very good to follow the news of the project, improvement and work of the team.

The Development Team must be the main choice, because with the Development Team's experience all will be more.
Then the power of funds for ICO determines the future financial strength of the ICO.

ICO scam is quite similar to the ICO that really pay. This sometimes gives doubt for investors to invest in ICO because certainly they simply fear of scam that is quite a lot going on. simply analyze the mediocrity is not enough to figure out the scam. If this is the case then the longer the not unlikely investors will start reluctantly to join in the ICO.

what things make you say difficult? it is not difficult to identify a project if you are not lazy, for example we can see WP, team, Advisor, Roadmap, Vision and Mission, partners, Investors or major sponsors, ICO Rating, BM which handles and many more things that can be used as a reference.

You have analyse everything of an ICO, starting with the team, project, token metrics, previous works of the team, their Linkedin, twitter etc. Try to contact them and see if they are legit. But it's a long researching process to understand whether the ICO is scam or not. However if the team is famous and strong then I don't think you will have a problem of being scammed.

Definition TYPE OF SCAM for ico founder needs to be more explained. Maybe with the FAMOUS AND STRONG TEAM OR A BIG COMPANY will never take your money without given token and submit the token to an exchanger, But FAMOUS AND STRONG TEAM OR A BIG COMPANY always take a people money and give shit token without future then they start another ICO do again and again.

https://bitcointalk.org/index.php?topic=5045723.msg46630825#msg46630825

When choosing a company, first look at the representative on the forum , if the projects are strong they advertise high ranks , then read about them , then look at the team and the road map , look at what the exchange will go out , or with whom they cooperate.

It's not an easy thing to detect a scam if you have never done it yet. But, you will know the trick by more practice. You have to know all about the project, including the team, the token sale, the previous project of the team, etc.

The first thing you should see is the trust rating of the said bounty manager, if it’s not trustable then don’t join. Also inspect the website of the bounty project if you find anything suspicious. Addition to that, you should observe about the stake rewards that will be given, if you think it’s kind of exaggerating to have a large amount given then it maybe suspicious. Awareness and knowledge is the key to avoid waste of effort and time to scams.

IMHO, first of all, I'm trying to find main persons from the team in social networks, I'm looking for his friends. If I see this person is real, I start to read whitepaper and after thinking about the idea in the project.

Some information is for predictions about ICOs
Completion of advertising programs
Percentage reward when investing
Develop team
Development orientation of the project in the future

My advise to detect scam project and echo failed are by checking their white paper, team members, the scope of the project on how to implement on it also the bounty manager that lead the whole campaigns and its rating

I agree with you, more and more scam projects are appeared in the crypto world right now. It is hard to tell whether the project is scam or not in just a few glance. The best way to tell is to do some research first, for example reading through some reviews and look for the projects that the dev have done before. If you are good at coding, then reading through the code in their project and gives you an idea of the scam project.

There are two things that I always check every time I join a bounty or ICO, check the person who will lead the ICO and also check the whitepaper. Checking the whitepaper requires experience because you need to determine the content if its plagiarized (copied from other ICO whitepaper). For team members, do some research and check their previous projects.