There are so many ICOs now, you know, last year 80% turned out to be scams according to surveys and project following returns data put out into the Crypto world on news and media streams, ok some you can take for granted with smear and boycott attempts but at the end of the day, scams are scams and history is history.
Money is after all money, and some bad ppl will go to no ends to get their hands upon it.
There are some basic rules we should all follow:
- Is this too good to be true? Example: Advert says 'A small investment to earn daily BITCOIN forever' - let's be honest, nothing lasts forever :/
- The teams of some Cryptocurrency projects like to remain anonymous, however, if feasible to find out: does the 'team' you are investing hard earned money in have a good track record, have they delivered working projects before? Are the people on the front facing website really affiliated with the project?
- From it's basic form, how does the website look, honestly. - Does is appear to have been made in a couple of hours or days - search the text on Google, has it been copied from elsewhere or is original work?
- Does the project have a good real usage factor, is there real world possibilities to the tech envisioned, have the team a working project, even in test phase to demonstrate - think about this for now and the future
- Are the team communicative with updates and not just demanding more investment with extra bonuses along the way
- If you are investing in yet another ICO, just think about where your personal details are going - are you really going to upload you passport, vehicle driving licence and bank documents to some website you stumbled upon - there are throwaway emails available you can just not use anymore and that is fine, but where and when will your document scans turn up? Generally when something is on the internet, it always is a very hard job to then remove it from the web... (...mostly impossible) - then too, these docs can be used against you if passed on or even exploited from the ICO / IPO website to a third party - There is KYC for good reasons, so only submit to valid and legitimate sources!
- Don't invest what you cannot afford to lose
Above all: research, listen to trusted members of the Crypto community, there are risks with everything, and, if you don't take part in any chances, you will not know how it is to live.
