How Not To Be Scammed By an Initial Coin Offering #ICO #crypto

[ameerrosic]

…Application coin sales (often called “initial coin offerings” or ICOs) are a new form of crowdfunding and some can have as much legal merit as a Kickstarter or Indiegogo campaign…

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Image by Giuseppe Pepe
The  Initial Coin Offering phenomenon has started to play a significant role in the crypto-startup world. Lately, more and more experts are looking to decentralized crowd-funding methods with interest.

But, the absence of legal guidelines in the operation of these ICOs has resulted in more than a few scams. This is hardly abnormal for an entirely new, unregulated field; but, would-be investors, nonetheless, find it difficult to discern potential opportunities from grab-the-money-and-run schemes.

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If you look at lists of recent  Initial Coin Offering campaigns it is really hard to come up with any sort of reasonable filter. There’s so much to be obviously skeptical of in this space that wealthier and experienced investors won’t even consider it — with good reason.

http://blockgeeks.com/how-not-to-be-scammed-by-a-initial-coin-offering/

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[bathrobehero]

How Not To Be Scammed By an Initial Coin Offering #ICO #crypto

Simple, don't buy into them.

[coin-investor]

How Not To Be Scammed By an Initial Coin Offering #ICO #crypto

Simple, don't buy into them.

The temptation is to high to resist,but if you are going to buy this Ico ,always remember to only invest what you can afford to lose.And you should always comfortable with the coin you're investing.

[The Sceptical Chymist]

How Not To Be Scammed By an Initial Coin Offering #ICO #crypto

Simple, don't buy into them.

This.  They're all just garbage, and none of them have any innovations that give them any advantage over the 1000s of shitcoins that are already clogging up the plumbing.  It would be laughable if it weren't so exhausting.   Buying any of these ico coins--or post-ico coons--is straight up gambling, and you ought to expect to lose whatever you invest.

[philakone]

Title of this post should be renamed to "How to not be stupid"

[bbc.reporter]

How Not To Be Scammed By an Initial Coin Offering #ICO #crypto

Simple, don't buy into them.

The temptation is to high to resist,but if you are going to buy this Ico ,always remember to only invest what you can afford to lose.And you should always comfortable with the coin you're investing.

That is the most stupid advice I have ever heard. You are saying that only invest what you can afford to lose? So meaning you are still allowing yourself to be scammed. The best advice is do not invest in them to avoid getting scammed unless you are so sure that the price will go up if it gets listed in an exchange and you sell right away. But it is still a risk that is not worth taking.

[michellee]

How Not To Be Scammed By an Initial Coin Offering #ICO #crypto

Simple, don't buy into them.

The temptation is to high to resist,but if you are going to buy this Ico ,always remember to only invest what you can afford to lose.And you should always comfortable with the coin you're investing.

good suggestion sir and we should thinking about another choice beside to buy an ICO, because we don't know that coins will exist or not after the launch and what is the long term from the dev.

[Dassi]

New investors have a hard time identify features that make a coin sell.
Right now the trend is: Anonymous, POS or POW with block size not less than 4mb
Alts with one or two of these features fare well in the market (even if it's for a short time e.g Zcash)

[Joint Force]

How Not To Be Scammed By an Initial Coin Offering #ICO #crypto

Simple, don't buy into them.

If you're a small time investors with less than 1 BTC then it's usually better to wait and see how it all plays out. Remember, you can always buy the same coin on the exchange later on.

If you are a big time investor with 100 BTC or more then ICOs are a dream come true. It gives you a chance to actually get into a coin at a set price.

ICO is similar to VC investing. You take on huge risk with the possibility of huge returns. You have to do your due diligence and that can take a really long time.


I've done extremely well with ICOs. I don't buy many though. I've a background in software development which helps me out. The only ICOs that I put significant money into were $ETH, $SJCX, $BCY, $AMP and $FCT. I could easily tell that those projects were good ideas and the people involved were quality. I find a lot of the ICOs lately to be mediocre and do not buy them. I instead don't put in as much money and only pick them up for cheap on the exchanges like I did with $SNGLS, $WAVES, $RISE, $STRAT, $VOX, $DGD and others.

[mace15]

Before investing in any ICO, lets do some research or observation of the
project. When investing in ICO, I do not buy more, I just buy little.
Then sell when relased in the exchange if I gain profit already.

[hanksBTC]

It is better to wait and buy them in exchange as most scams fall apart after collecting the funds or even before listing. So wait till the coins are released into exchanges.

[fortunecrypto]

How Not To Be Scammed By an Initial Coin Offering #ICO #crypto

Simple, don't buy into them.

The temptation is to high to resist,but if you are going to buy this Ico ,always remember to only invest what you can afford to lose.And you should always comfortable with the coin you're investing.

That is the most stupid advice I have ever heard. You are saying that only invest what you can afford to lose? So meaning you are still allowing yourself to be scammed. The best advice is do not invest in them to avoid getting scammed unless you are so sure that the price will go up if it gets listed in an exchange and you sell right away. But it is still a risk that is not worth taking.

The guy has a point,there are some successful Ico in the past and traders will always invest in ICO check out to see for yourself on Yobit what he means is do not invest everything you had and do diligent research,if there is no money on Ico then why we always have 3 to 5 Ico every month ..

[shinratensei_]

It is better to wait and buy them in exchange as most scams fall apart after collecting the funds or even before listing. So wait till the coins are released into exchanges.

+1 although some were giving a great answer like some answer above me.
But this way just for minimizing the fund will get snatch by scammer like decloud. The general thing to remember if a lot of them is a shit coin.
It had made me bright about not to get scam by them .

[legdunes]

The best way not to get scammed would simply be by not investing.

[BTCat]

It's the same as inventors requesting a patent for their product. 999 out of 1,000 new inventions fail to be successfull and don't reach the market at all.

[dinofelis]

How Not To Be Scammed By an Initial Coin Offering #ICO #crypto

Simple, don't buy into them.

Amen.

But there is a sure way not to get scammed by an ICO: issue one yourself

[bathrobehero]

If you're a small time investors with less than 1 BTC then it's usually better to wait and see how it all plays out. Remember, you can always buy the same coin on the exchange later on.

If you are a big time investor with 100 BTC or more then ICOs are a dream come true. It gives you a chance to actually get into a coin at a set price.

ICO is similar to VC investing. You take on huge risk with the possibility of huge returns. You have to do your due diligence and that can take a really long time.


I've done extremely well with ICOs. I don't buy many though. I've a background in software development which helps me out. The only ICOs that I put significant money into were $ETH, $SJCX, $BCY, $AMP and $FCT. I could easily tell that those projects were good ideas and the people involved were quality. I find a lot of the ICOs lately to be mediocre and do not buy them. I instead don't put in as much money and only pick them up for cheap on the exchanges like I did with $SNGLS, $WAVES, $RISE, $STRAT, $VOX, $DGD and others.

So if you have a decent amount of money to burn, you should just give it to some random anon dude in exchange for some pretty pictures and empty promises.

I'm sorry but that's possibly the dumbest advice I have ever read not just about ICOs, but in general on this forum.

How Not To Be Scammed By an Initial Coin Offering #ICO #crypto

Simple, don't buy into them.

The temptation is to high to resist,but if you are going to buy this Ico ,always remember to only invest what you can afford to lose.And you should always comfortable with the coin you're investing.

While I fail to see the tempation, I do agree with the second part of your sentence. But the same advice stands true for gambling - which is exactly what ICOs are - except when it comes to gambling the rules are clear.

[ZeroTheGreat]

They're all just garbage

Nonsense. Good way to make profit also some projects like Nxt are here for really long-run. Every potential player (it isn't really investing) should consider to carefully choose strategy. Is there +EV strategies? So far my — one of them

[Sweetbtc]

How Not To Be Scammed By an Initial Coin Offering #ICO #crypto

Simple, don't buy into them.

If you're a small time investors with less than 1 BTC then it's usually better to wait and see how it all plays out. Remember, you can always buy the same coin on the exchange later on.

If you are a big time investor with 100 BTC or more then ICOs are a dream come true. It gives you a chance to actually get into a coin at a set price.

ICO is similar to VC investing. You take on huge risk with the possibility of huge returns. You have to do your due diligence and that can take a really long time.


I've done extremely well with ICOs. I don't buy many though. I've a background in software development which helps me out. The only ICOs that I put significant money into were $ETH, $SJCX, $BCY, $AMP and $FCT. I could easily tell that those projects were good ideas and the people involved were quality. I find a lot of the ICOs lately to be mediocre and do not buy them. I instead don't put in as much money and only pick them up for cheap on the exchanges like I did with $SNGLS, $WAVES, $RISE, $STRAT, $VOX, $DGD and others.

It is a nice suggestion you have given here. I feel that new users should discuss about ICOs before jumping in and should take efforts to understand the risks involved.

[Sweetbtc]

They're all just garbage

Nonsense. Good way to make profit also some projects like Nxt are here for really long-run. Every potential player (it isn't really investing) should consider to carefully choose strategy. Is there +EV strategies? So far my — one of them

The coins you got into should have made a great amount of wealth for you. Hats off to you for finding them quite early in the game and buying into them. What do think about ICOs like vDice, Janus and Wings DAO?  and which existing projects will do well in the coming years?