So many new ICO, how to check if it's scam?

[george_hured]

Now there are a lot of guides in which people describe their algorithms for checking projects, so I advise you to pay attention to them. Many of these thoughts are quite interesting and are most likely to be used to use them.

[Xiomara]

Given that most cryptocurrencies are distributed with open source, closed-source projects or those that do not disclose their base seem less credible. The main reason they are closed can be caused by the fact that the project code is not available at all. You can check the code on Github and similar services.

[byteminr]

Need to check whitepaper, prototype, team, and advisors. Would also check the real world application of the coin/token.

I think, advisors - this is not an indicator. Ofen advisors simply take money for the fact that they are placed in advisors

[Zentor]

Check the team first. It is good if they developed successful projects in the past. Choose ICO with great idea which opened his code on Github and is highly rated by icorating etc.

[flippener]

I've said this before, but I think it bears repeated. It's impossible to check if an ICO is a scam. However it's easy to tell if it's a bad investment: it's a bad investment if it says 'ICO'.

[krodmandoon]

I've said this before, but I think it bears repeated. It's impossible to check if an ICO is a scam. However it's easy to tell if it's a bad investment: it's a bad investment if it says 'ICO'.

I am afraid you are right and it is impossible to tell if ICO is a scam or not. But you are definitely not right about investing in ICO.

[Advicerabi]

So many new ICO, and they all have new idea and tech listed on their webpages,

and even the websites use the same template...

but so many new ICO, how to check if it's scam, or worth to invest...

Dont follow any ICOs which have a weak team or unprofessional employee. Read the whitepaper before you decide to invest or not and Don't participate in a project that is unrealist.

[wodebutterfly]

You need to do your own research and DD, no one can guarantee that if a project is a scam or not. One way to find out maybe is checking if the social media account followers are real, and if the team sticks to their original plan and keep their promises.

[valmon]

So many new ICO, and they all have new idea and tech listed on their webpages,

and even the websites use the same template...

but so many new ICO, how to check if it's scam, or worth to invest...

Follow John McAfee @officialmcafee official page in Twitter and you will know actual information about very successful ICO.

[A L I E N]

The Initial Coin Offering market is very diverse, every day new projects start, from which you can get a good income. But investors need to carefully study where to invest their own funds in order to avoid losses.   

[AlienSeeker]

It is easy to know if the ICO is scam. You will see the team behind it if their are legit and if they have a great potential to be part of the ICO. Read the whitepaper of the ICO, sometimes it is better to read their whitepaper because it is already written there what is the roadmap of the ICO, teams, prices of the ICO, allocation and especially the platform of the ICO. Sometimes, it is too obvious if the ICO is in legitimate or not. It is better to read because if you don't read your time and your investment will be waste in the future.

[DataDrug]

I always check this:

- Their technology
- Their team
- Their roadmap

[buhna]

I think if you don't understand nothing about ICO - it's better to have experience before investing. Maybe in bounty campaigns or with little bit of money. Because there are a lot of scams, it's true.

[hritevanz]

So many new ICO, and they all have new idea and tech listed on their webpages,

and even the websites use the same template...

but so many new ICO, how to check if it's scam, or worth to invest...

I've been a victim twice of some ICO that are scam, but that was last year because I have been just a newbie who doesn't have knowledge on how to deal and apply to any bounty. I've been monitoring some of the new bounty campaigns and yes, I have observed that there are lots of new ICO. However, I also wonder if some gambling or game ICO are worth working for in signature campaign. You should read the Whitepaper, the team member and the manager of it if they are trusted enough by some companies.

[grek_al]

You need to do your own research and DD, no one can guarantee that if a project is a scam or not. One way to find out maybe is checking if the social media account followers are real, and if the team sticks to their original plan and keep their promises.

I think also checking their activity in media, social groups, google reserche is the most efficeint way right now.  If a good project attracts a lot of people, this is not very difficult to see hype of many investors

[Bttzed03]

It is tough to check whether an ICO is really legit or a scam. Some look legit at the beginning then turns out to be not. Some looks shady at the start, then turns out to be good. As always, doing your own research is your best weapon to know if a certain ICO is a scam or not. Identifying use case and the team behind is a good start.

[markovi4mark]

I don't think that a common people can judge by the whitepaper, i recommend to check the investor and the platform. Some scam projects will often make bold claims about their product even though said project offers nothing new or disruptive. It’s not likely that a certain blockchain platform or cryptocurrency will end poverty, fix global warming or replace the internet.

[Snixer]

I always check this:

- Their technology
- Their team
- Their roadmap

You shouldn't just limit to those things, there are tons of other things you need to take into consideration before investing your money.

You need to look at how the token sale is structured to know how much it can grow, how much attention they have on their social channels, how active are the devs, if they already have a MVP and so many other stuff.

[nrvasquez]

I always check this:

- Their technology
- Their team
- Their roadmap

The team is paramount, make sure they are all verfied from a trusted source, so chances for the scam will be low

[hashtag101]

I always check this:

- Their technology
- Their team
- Their roadmap

The team is paramount, make sure they are all verfied from a trusted source, so chances for the scam will be low

If you want to check a project is scam or legit, indeed, the team developments is very important. But it's just useful when you know exact information of them. If you just checked a fake information, you still invest in a scam project.