How to avoid ICO scam

[chainese]

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

[1714939207]

1714939207

[1714939207]

1714939207

[1714939207]

1714939207

[1714939207]

1714939207

[PokerStein1]

I thınk you can't avoid scam ICO's if it is in your faith because they can look legit and after six months past of their ico they can say we are done we can't deliver this product because of this because of that bla bla.. You can protect this situation with blockchain or nothing else. If you are not a risky person you need to go on with BTC LTC and Eth or really good proven altcoins.

[BogdanGFTP]

There is a long list of requires, for example you should learn each team member. But if you don't understand how it works, you shouldn't even try to invest in ICO.

[ItsEzMkay]

Like others have said there is a laundry list of items you need to watchout for with icos. But to me I think the main thing is having a good product and a team. If ico doesnt have these two things I dont bother looking into it more. Also

another pretty important factor is how much money are they asking for. If they are asking for 500m well good luck trying to make money but if 5m then you may have a chance if the other two aspects are quality.

[J. Cooper]

You will never be 100% sure if an ico is a scam or not. Of course there are indicators, some ico's are just so obvious that it's funny but others look extremely promising but then they suddenly fall of the grid. I don't really mess with ico's, I happily hold the majority of my assets in bitcoin.

[romeo111]

Dear i think it is very difficult for us. Because we don't know who are scamer or whice one are scam ICO.
I think it's protect has our project developer and Thread modaretor.
We are not properly avoid it, but i think we have some of way.
first we research and check related to ANN thred or ERC20 .
second check all information about the team member, it's anonymous team or not. and read white paper, then we will visit official website.
Most important who is the campaign manager?

[criticoflife]

Well i think if there is huge hype around the token/coin that they are promoting and if you make sure it is already listed/going to be listed at exchanges plus you get a good size bonus for buying it than you can't really go wrong. If there is demand for the token, regardless of whether the ICO is a good idea or not than the token/coin has value. That's the things i look for in them.

[Hamphser]

Well i think if there is huge hype around the token/coin that they are promoting and if you make sure it is already listed/going to be listed at exchanges plus you get a good size bonus for buying it than you can't really go wrong. If there is demand for the token, regardless of whether the ICO is a good idea or not than the token/coin has value. That's the things i look for in them.

I dont usually put my eyes on these coins specially for long term because most coins which are being hyped too much do end up good. Most of these coins do easily being dumped after being hyped up.I do rather choose up those coins which do really have a strong support either on both community and an active developer and the project with real world usage or being beneficial to people. Avoiding ICO scam is ones responsibility which we should really research up things.I cant pinpoint a list but im sure i has being mentioned a lot of time on how to avoid an ICO scam.

[justin86]

A publicly proven team must be. You cannot understand if a project is scam or not by looking the project or its website. The team always matters much.

[Arderd]

Making sure they dont give you promises of profit (things like regal coin and bitconnect are good to flip but they aren't real businesses)

Companies with real sponsors of big companies that have done their due diligence

Companies with a working product

Companies with a good team / advisors

[thepo1m]

To me the first question to ask is can this team deliver on what they are promising. It they idea is more of abstract, it is better to keep your money in your pocket because they will burn all the money without delivering anything substantial to the market to see

[cryptomato]

if you take care of these rules you'll decrease your chance to be cheated by those scam projects,
- team members, their project history
- advisors, their project history

and never ever give your private key, be far from whomever ask for it.

[btcholder]

Actually it's quite hard work to avoid scam ico. But if care some points like, proper white paper, strong team, believable concept, super active in social media then you can understand which one promising ico and which is not.

[TagaMungkahi]

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.

I think you must change first on how you construct your sentence and also your grammar, and fix your thoughts in order for you to converse it and write it well for the readers here on bitcoin talk forum. If you are asking on how to avoid ICO scam. First know the background of the ICO, research the members and check if it is on the Buzz, Second and last is Read and Read here on bitcoin talk if a certain ICO is suspicious , it might be a Scam.

[adam1230]

Reading and researching is the first step. Drop your emotions before researching about a ICO .
Then you will clearly find your own solutions. Check out community activity Q&A on telegram and these steps will lead you to find the best ICO

[withche.07]

There are no clear rules or principles to avoid ico scams. But you can do it by experience or reading what experienced users write. Some icos are very obvious money pullers.
Whitepaper is the best thing to read.

[fedor3327]

We cannot have our cake and also eat it.

This is the wild west at the moment. Use common sense. This market is risky.

2 years from now it will be regulated I am sure. While that protects the users it also kills the opportunities.

[VackFromOhm]

You will NEVER guarantee that an ICO is not a scam. Their personas, the images they use to show who they are, their backgrounds, their history, their code, could all be completely FABRICATED or come from sources that they don't share with you. Any group of people that would want to scam the community would, as expected, try to make it as foolproof as possible. That is, if they really want to get away with it. A good portion of scam ICOs make it a bit easier for us to call them out, based on lack of whitepapers, fake user accounts popping up claiming that they're a good coin, or maybe even malware in their wallet.

Point is, you will never be sure if it's not a scam. Distribute your money wisely between the ICOs and you will come out better for it, as some will fail, some will be alright, and others will be amazing. A diverse portfolio is a healthy portfolio.

[vintages]

I thınk you can't avoid scam ICO's if it is in your faith because they can look legit and after six months past of their ico they can say we are done we can't deliver this product because of this because of that bla bla.. You can protect this situation with blockchain or nothing else. If you are not a risky person you need to go on with BTC LTC and Eth or really good proven altcoins.

'If it is your faith' hahaha..funny you
But I can agree with though, if its really ones faith to always encounter scam ICO then its inevitable. One just have to be very careful..
But I don't understand what you mean that you can protect this by blockchain? How do you mean?

[kryptqnick]

You will never be 100% sure if an ico is a scam or not. Of course there are indicators, some ico's are just so obvious that it's funny but others look extremely promising but then they suddenly fall of the grid. I don't really mess with ico's, I happily hold the majority of my assets in bitcoin.

I guess the best way to avoid ICO scam is not to invest in ICOs at all   That's the only way to be sure. And it is not really as bad as it sounds. One may still explore the ICOs which seem interesting and invest in them when the coins are released. I think that mostly the prices don't differ much from what they used to be during ico when the coins start to appear on exchanges, whereas the safety obviously grows a lot since you can be sure you'll be able to sell the coins just as you were able to buy them.