How to avoid ICO scam

[MudahDanHemat]

I mean, is there an exact list of rules that could guarantee that someone who follows them will surely not become a victim of another ICO scam. Of course there are obvious rules like event participation, reputation of team members among ather prifessionals, approve by well-known advisors. But potential scammers also know all these criteria and know what to fake exactly.

Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers? Not government laws way which also good for the market in my opinion.

Would be appreciate a link to an old thread, perhaps I just didn't find it.

UPD Best Advices:

• learn about previous ICO projects, select viable ones and participate similar ICOs
• invest in an ICO with a working prototype only

Distinguish the ICO project fraud is extremely difficult because they also show something fun so that it can resemble the original ICO project. I often see ICO projects from token sales because if the soft cap has been reached this very worthy project ICO to follow.

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[Ironmaiden]

I mean, is there an exact list of rules that could guarantee that someone who follows them will surely not become a victim of another ICO scam. Of course there are obvious rules like event participation, reputation of team members among ather prifessionals, approve by well-known advisors. But potential scammers also know all these criteria and know what to fake exactly.

Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers? Not government laws way which also good for the market in my opinion.

Would be appreciate a link to an old thread, perhaps I just didn't find it.

UPD Best Advices:

• learn about previous ICO projects, select viable ones and participate similar ICOs
• invest in an ICO with a working prototype only

Distinguish the ICO project fraud is extremely difficult because they also show something fun so that it can resemble the original ICO project. I often see ICO projects from token sales because if the softcap has been reached this very worthy project ICO to follow.

But basically investing in a project, you can see a lot of people talking about it without doing your own research. Educating yourself about a project is the best way for you to know if the project is legitimate or not, there will be something you find that will tell you whether there is any use.

[FlyingMachine360]

You can avoid scam by checking first the background of the projects before investing so that you can gain big.

[commander11]

I mean, is there an exact list of rules that could guarantee that someone who follows them will surely not become a victim of another ICO scam. Of course there are obvious rules like event participation, reputation of team members among ather prifessionals, approve by well-known advisors. But potential scammers also know all these criteria and know what to fake exactly.

Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers? Not government laws way which also good for the market in my opinion.

Would be appreciate a link to an old thread, perhaps I just didn't find it.

UPD Best Advices:

• learn about previous ICO projects, select viable ones and participate similar ICOs
• invest in an ICO with a working prototype only

Unfortunately, the status of the crypto-market is at early stage and we don't thave that kind of algorithm or detector.
There are few start-up that develops that kind kind of scam ICO. MyShield develops AI that detects SCAM ICO. It basically has two intelligence foundation in the blockchain - the AI and crowd (people) knowledge put together in blockchain database. Take a look at it.

[Rollesto]

There's no way we can completely avoid scams these days. As we all know, scammers won't tell you a campaign is a straight-up scam. Or would make it look like one. They would be a legit ICO in the first weeks or months, and after a while, they will vanish out in thin air.

[xDispeLme]

there is no such list of rules to avoid fraud. and no one will tell you whether the project will be successful or not.

[Salloystic]

No business is risk free but you can avoid scam by reading whitepaper and ask your friends who are into crypto and who have been long in it about bounty signature and airdrop you want to do

[dmerrifield9844]

I mean, is there an exact list of rules that could guarantee that someone who follows them will surely not become a victim of another ICO scam. Of course there are obvious rules like event participation, reputation of team members among ather prifessionals, approve by well-known advisors. But potential scammers also know all these criteria and know what to fake exactly.

Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers? Not government laws way which also good for the market in my opinion.

Would be appreciate a link to an old thread, perhaps I just didn't find it.

UPD Best Advices:

• learn about previous ICO projects, select viable ones and participate similar ICOs
• invest in an ICO with a working prototype only

There is no way to avoid ICO scams at all. As most ICO projects give you confidence that it will succeed. Only when you lose money you realize the truth. I think it's all about luck.

[reda]

Most of the ICO project in the bounty. So bounty is right place is choose the best ICO project. Bounty is important of the get information of the ICO project. Easy to learn the ICO project information and invest for the future growth. So how to choose best ICO project for invest. First learn the ICO project. Then easy to choose the and invest best project. So hold the long time and wait for the price increase. It change the most of the people life and improve the knowledge. 

[dangbinhminh]

I think if you have at least a minimal knowledge about this field, you can choose the right ICO to invest on it. People reviews will be so helpful to know more about each project. In addition, you can write the white paper and search more about the team of this project to know more additional information.

[KseniaLard]

Due diligence is how much research depends on you. Then decide how much you are willing to take risks, remember how to increase the payday. I'll take $ 100-500 into a legitimate ICO and hope for the best. I received 3 for my money this week, and then I learned how to trade on stock exchanges. If they lose everything, I got an education for the next round, but my studies tell me otherwise. The world is changing wealth, because the dollar is dying, I will not sit aside. I enter without fear of losing in a few baskets, hoping that in my election there is a big helmet that decided to be on the side of money.

[marcenzofing]

I mean, is there an exact list of rules that could guarantee that someone who follows them will surely not become a victim of another ICO scam. Of course there are obvious rules like event participation, reputation of team members among ather prifessionals, approve by well-known advisors. But potential scammers also know all these criteria and know what to fake exactly.

Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers? Not government laws way which also good for the market in my opinion.

Would be appreciate a link to an old thread, perhaps I just didn't find it.

UPD Best Advices:

• learn about previous ICO projects, select viable ones and participate similar ICOs
• invest in an ICO with a working prototype only

There is no way to avoid ICO scams. You must personally evaluate an ICO project before deciding to participate. As a chance.

[PRC_May]

we don't generally know how to know ico trick. they are specialists at doing as such. at first, they are not kidding in discovering financial specialists. after the hardcap is come to? a significant number of them flee, or don't pay abundance.

[Asujmule]

All things considered, clearly the most ideal approach to keep away from IKO tricks isn't to put resources into icos by any means. Winking is the best way certainly. What's more, it's not as awful as it appears. You can in any case examine ICOs that appear to be fascinating, and put resources into them when coins are issued

[dearbesz1219]

Every time when you invest into ICO you have to accept the risk. You are investing into new industry without any regulations so you cant be amazed about many scammers in this field. It is pretty normal in new industry .

[JackdunR]

If you want to avoid scams first thing you have to know about an ICO project, if the project is successful then they will have many very logical and professional elements. Second, you should join the Q & A community. There is more information about that project. Then decide to invest in them

[Yeahnoh]

The first thing you should look out for is the team behind the project profiles on social media and linkedin, check if they are not stealing someone's identity or something like that, after that you can simply read their whitepaper to see if the project is really innovative and worth to invest in.

[Kay94]

For now I have taken two steps which is really helping me. Before I join an ICO, I make sure I do my background checks on all the team members and also read much from the whitepaper.

[heureca]

There are several rules to avoid scam ICO: avoid unknown project teams, always check white paper, check website of project (it should be done good)

[Arlette Foxsparkle]

Although i don't have more experience about participating in ICO's projects since I was a newbie I think it is better to try spend more times to study all about with your prospected ICo. Then read and analyze their platform and roadmaps if it is realistic and has a reliable source like people behind the project. Dont limit your self to learn new things to know more about ICO's and to avoid being scam.