Bitcoin Forum

Some red flags for the beginners in the crypto world! Make sure to check these red flags before investing in any ICO.

1.CLAIMS OF HIGH, GUARANTEED RETURNS.
2.CELEBRITY ENDORSEMENTS
3.CLAIMS OF “SEC-COMPLIANT” (guarantees that their coins will trade on an SEC-compliant exchange where you can buy and sell them for profit)
4. INVESTING WITH A CREDIT CARD.
5. PUMP AND DUMP SCAMS.(Tempting you with guaranteed gains with pumps and dumps during pre ico to crowd sale)
6.Team members without any social profile. if they provide be sure to check the genuinity on basis of followers and background.
7.Language( grammar is correct or not)
 
and if you have done these be sure to read the whitepaper!!

I can give you a summary on this which you can have the assurance that you won't get scammed by these ICOs and that is by not investing to ICOs.

All of the aforementioned points are really important to check before deciding to invest in a project.
Otherwise, you'll risk to lose a lot of money. It's always better to be too wise than to lose all your precious coins.
As everybody keeps saying: always DYOR (Do Your Own Research) !
Hope it clears everything !

Celebrity endorsements aren't a red flag as long as you could verify that it's genuine. One way for that is to check their SNS where announcements are made.

Even sometimes reading the whitepaper might deceive you more. I'm very particular about the Huge Returns Aspect. currently if you're joining any project it'd be better you join those that can have a real world use case and not those who'll promise unimaginable returns

Wow, nice info bro. Thanks for your information, i will be wary for the next time if i would to invest.

Thank you for the information you provided. I will recollect it to have more experience for the investment

but sometimes its hard to distinguish which is scam or not :P

Even lot of them enter right here. No shame ;-(

You still gonna see a lot of scammers, but one golden rule is money never come easily if we just want earn money and do nothing about it.

We're living in a scam world, I've seen so many people losing money..

Yes, easy to declare, but in real world is not so... You see New Bounty Announcement, you participate, and after few days -> Ooops! That was scam!!!

A nice list, but I have to agree with the others, celebrity endorsements are not always a scam.

It's always good to remember how many bad people are out there trying to get your bitcoin. But I would add that just the fact that someone is offering an ICO makes it highly likely yo be a scam. Or at best an ill conceived idea by someone with zero business experience. These ICOs almost always ends with a loss.
Why even bother with them? 

However, this is not enough for scam and fraud detection(

I've been fooled for not reading Whitepaper, consequently the money I invested lost. I will explore the knowledge of crypto, like other investors, even though all the conditions listed above are like my guidelines. but I am still exposed to a scam project. so, keep following the rules written above and use your instinct as best you can, because instinct will never lie.

Another possible scam project could be that one that uses the term "blockchain" or "crypto" to advertise activities that have nothing to do with blockchain like for exemple the climate changement   ;D

- check social profile of members
- try to get in contact with them
- do an image search on the (profile)pictures
- check how they communicate on twitter / facebook / telegram. Pay attention to their tone-of-voice

Few telegram groups member contacted me to join signal group. Is there anything like signal?

It's very easy to spot some scams with the characteristics that OP listed. But I also somewhat agree with you, because a project can look 100% legit and can possible still end up with them running away with your money. Screw ICOs honestly.

Today, there is too many altcoin to find cam. It's so difficult to find. So. you must read the whitepaper and belong to your lucky.

There are too many scams, so I don't dare to participate in ICO now.
It seems that ICO has become synonymous with scammers in cryptocurrencies.

In most of the cases signal group is kind of pyramid system, thus be very cautious with such offers ;-)

Crypto God spared me to invest in his youth in the Scam, thanks ;D

Great tips, there are many scams out there
I add generic advice: never access mew or exchanges from unknown links, beware of phishing ... for a hacker it is easier to cheat your brain than your computer

All legit points & I wanted to add:

- GitHub does not include the ICO’s source code
- Unthinkable Premines. or =>50% Bonus for Private pre-sale
- Huge % of tokens are allocated for the Team & advisers

As far as I saw, especially there's so much scammy telegram channels which are used for scam pumps and other crypto stuff. I would consider everything from telegram with a serious grain of salt. But maybe it's just me.

Unfortunately, this already concerns not only investing in ISO, but also the emergence of new coins in the market. A lot of shit. How recently one project was pierced with a fake development team!

Be careful.