How to detect a scam ICO?

[red4slash]

Maybe this is very difficult if indeed we do not really understand about ico. Maybe a little I know about the scam project. 1. There is no clarity about their project team 2. Their project is not clear 3. Too many offer discounts or the like. Maybe that's all I know. And keep looking how far the project goes

[AiloveYouks21]

I'm too lazy to check an ICO scam or not. sometime just wait people do it for you. and we invest later

who wants to tell you that a project is predicted to be a scam? and whether you believe the person's report is a fact or just an opinion, we can take an example from the Centra project. They are in the beginning said to be a scam for incorrectly installing a photo and immediately replace it and now we can see that they Crowdsale is sold out.

[PandaMiner]

I'm too lazy to check an ICO scam or not. sometime just wait people do it for you. and we invest later

who wants to tell you that a project is predicted to be a scam? and whether you believe the person's report is a fact or just an opinion, we can take an example from the Centra project. They are in the beginning said to be a scam for incorrectly installing a photo and immediately replace it and now we can see that they Crowdsale is sold out.

I think he mean he wait everybody invest so much money into it then he follow them. Am I right?

[Slowhand26]

It's really hard to determine which ICO is legit or not. I think one good to see is their transparency about the project and about those developers behind the ICO. One good to check is the physical address they are using.

[frowsiter]

You can go through list of some things which are important for an ICO to have if they are legit.

Firstly you can have a look into the team itself. There could be fake representation of the team, random pics, names etc. If the ICO is legit then there has to be few know team members and you can consider it as legit. If these managers already given best of the ICO then the chances are high that you will get it as legit one.

Secondly, check for the news about the ICO. If it's in the news in positive way and making the good publicity then the chances increase a lot towards the legitimacy of that particular ICO.

Third, have look into altcoin announcement section if they are present there or not. If they do have thread then look for the discussion, read it and grasp what people are saying about the ICO.

This should lead you to the legit ICO for sure.

[lenyro]

Only invest in popular ico, you won't be scammed any more, most scams are in this forum.

[Nerman]

We can avoid it by first research about the company a simple google would not hurt.Also this forum will help you if there is a new coin try to search it here.

Check who are the people behind the coin. Check if they are truly invested about the coin. You also want to see what are their plans in the future because some coins seems to be a scam but actually it just did'nt work out.

[Pattart]

I'm too lazy to check an ICO scam or not. sometime just wait people do it for you. and we invest later

who wants to tell you that a project is predicted to be a scam? and whether you believe the person's report is a fact or just an opinion, we can take an example from the Centra project. They are in the beginning said to be a scam for incorrectly installing a photo and immediately replace it and now we can see that they Crowdsale is sold out.

I think he mean he wait everybody invest so much money into it then he follow them. Am I right?

yeah maybe. now many users can follow the tips from various sources. you can see a lot of investor accounts on twitter that gives some tips and information about potential ico. sometimes I follow that tips and get a profit. so I think he also did the same thing as me..

[patrickgt3]

Only invest in something you fully understand and if the team is real and capable.

[ap3311]

come on guys. this is definitely not a gamble. Everyone knows that gambling will finally "the house always wins" . but you know that there is no such system . here.if it were really such a thing, it would not be the rich people who earned so much money from crypto.

I asked myself if I can really say what a project is really saying and can really do it. I first looked at the "team members" tab.if there are familiar names and they actually share them from social media accounts, then the project will at least reveal something.the question is now, what if we do not have any members of the team from familiar names? then we search every user on the internet. we are reviewing social media accounts they have been following who have a popularity how important these are. you can actually reveal people who are lying and cheating with a little research. If everything seems to be smooth, you should still try to get into the projects with eth-based and tokens immediately.





 

[allthebitandbobs]

a working product or prototype that is already up and running  is always a good idea for a ICO .

[tranle789]

To find an ICO scam is now very easy. You should monitor them more, if you find something suspicious you should avoid that project immediately because it is possible that the project is trying to attract more investors and promise a lot of future profits.

[naidray]

How to detect a scam ICO?

With a good research about the team and the project, you should be able to know if it is scam or not. However, some are very good at pimping themselves, but you had be surprised so much people can know about some certain team and digging out the past. So, it is good to ask questions.

Also, like some have said, google is your friend and you can find out about the team, what they have been up to most especially on linkedin since it is a professional profile page.
Confirm if there is a project they have done in the past and take note of the success of those previous projects. Whitepaper should be the last which will make you have conviction if you feel the project is worth investing into.

[bitorama]

read the whitepaper, do some background research of the team and check their github

[FrankNoland]

How to detect a scam ICO?

In my opinion, I think that there are few things that can help you spot a scam ICO. There is a certain information that every ICO should bring forward to their potential investors,  the team behind the project is the most important. Ensure that the team is providing their real profiles and not catfishing.

Investigate the team before you can actually consider investing in any ICO, if the team is a lie, then it means that the white paper, the idea/ the technology and the ICO itself is a lie.

[DeltaX]

a working product or prototype that is already up and running  is always a good idea for a ICO .

The purpose of ico to raised the money to keep the development still running,  maybe you are forgetting it right now. A lot of the project just released the pre alpha as the example for the product.

[Casdinyard]

To find an ICO scam is now very easy. You should monitor them more, if you find something suspicious you should avoid that project immediately because it is possible that the project is trying to attract more investors and promise a lot of future profits.

Yeah I agree and when its too good to be true then you should better be careful.
Over promise comes with under deliver is one of the strategy of some ICO and you should also consider the team behind it if it's credible and trustworthy as I see many ICO now are started good but turned out scam.

[Fundamentals Of]

How to detect a scam ICO?

It is hard to tell that nowadays. The scammers are kind of already mastered mixing along very well with the true ones. But just try your best in reading and understanding the project's whitepaper. Try to check the members of the team and their background and then contact them through their official communication lines.

[Lucky_U]

Nowadays even a serious projects can be scam. Before investing - need to do some research ICO project very closely.

[deppil]

Maybe this is very difficult if indeed we do not really understand about ico. Maybe a little I know about the scam project. 1. There is no clarity about their project team 2. Their project is not clear 3. Too many offer discounts or the like. Maybe that's all I know. And keep looking how far the project goes

quite difficult to detect where ICO is scam, because greed can happen anytime, although dev has the seriousness to run their project, they could be a scam when gaining huge crowdfunding, so luck will be a little play, try to follow the information from some big players