How to avoid ICO scam

[straimrpl777]

Any crypto project can be a fraud. I now have a few rules:
1. Do not invest in Russian crypto projects.
2. Invest only in projects where a good team and clear goals and objectives.

[MarlonDamon]

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

First you have to research on their site and read the whitepaper.

[kevingreen]

To avoid ICO scam ,one need be knowledgeable in cryptocurrency this will help you to know the basic factors that qualify a legit project. Again ICOs from some countries are more reliable, ICO from European countries like Swiss ICO, Germany and Malta. Also Asian Countries like Singapore and other countries that has good regulating system. But I think that it will be good to see a reputable website that certifies good and legit ICO. That will serve as a symbol of trust for investors.

[BrBoy]

Do not think that all that you have listed directly will definitely help to find out the scam. If so many methods. but it takes me at least 4 days to fully study ICO.

[morrisby25]

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. But you can know some scam Ico by checking the team,  reading the white paper etc.

[TropicalDog17]

In the list, there is nothing about the people behind. Also, you have to ask people who are involved in it as well. Ask questions and learn, but scam is always possible, but you can figure out how small or big the percentage is.

[zhangcaisbsbn55]

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

Thanks for your advice. We can make more money with the right strategy.

[ostrovagaly]

 Even if you choose a good project that before did the fees may be a chance that he will not collect all the profits this time.

[002jin]

Hello everyone! It's hard to be absolutely sure you're not getting inflated. But still, to understand whether it is worth spending your time and energy on the ICO, you need to analyze the project and the team well, study the white paper and the road map, be sure to see how many people participate and how many bounties are offered. And of course, learn all the social networks, especially the founders of the team and the project. It's important.

[aleksej.rozhkov]

All ISO are created in order to come to victory and fees and many also come but not all of them conscientiously approach the matter.

[Tonygold1967]

Any crypto project can be a fraud. I now have a few rules:
1. Do not invest in Russian crypto projects.
2. Invest only in projects where a good team and clear goals and objectives.

I would ad transparency, it is very important when information on ICO is available.

[Julia1992]

I do not even know what to answer!
what kind of protection you do not put (not good people), if they want, in any case, they will hack you! just need to be more attentive

[Monkeyseemonkeydo]

Any crypto project can be a fraud. I now have a few rules:
1. Do not invest in Russian crypto projects.
2. Invest only in projects where a good team and clear goals and objectives.

1. Never heard about Russian ICOs. Mean never been paying attention to that. Why?
2. Team can be on list, really they might have other programmers.

[paxmao]

Just check carefully that the basic information is at least present. You may be scammed, but just don´t make it so ridiculously easy for the hackers to take you money. Wise up.

[richjohn]

Apart from the points you have mentioned, there are still chances that you might end up getting scammed. I will quote a nice example from this forum. As we all know aTriz is a very famous and reputable Campaign Manager. But while managing a recent campaign called BitBlissCoin, he hid the fact that the campaign had failed to raise anything and instead spread a lie that they have raised 2mn$. Since a lot of investors trusted aTriz's words, they ended up investing money in this campaign and in the end ended up getting scammed of their money. I remember that a particular user almost lost 7000$.
So as you can see, even if everything looks good, you can still be scammed, so the best thing is to stay away from ICO.

[Matdog]

Just check carefully that the basic information is at least present. You may be scammed, but just don´t make it so ridiculously easy for the hackers to take you money. Wise up.

We recommend doing research first before investing the type of ICO. Must consider the project vision, team and product development status.
To avoid fraud in ICO investments, the time from start of project to ICO sales is so long that you have more time and information to be able to evaluate the project and, read some of the more experienced professionals in the field you want to invest.

[sergeykravcov177]

 I know that those projects in which I participated did not bring anything, someone was so well located and admins sympathetic but still it was insulting if it was all covered.

[angelakrasnova]

 I love when the company makes the fees and provides us with the gender that we are and worthy of generosity. But I always find out about a bad project while working with him. Admins. Working with the table. Goodwill.

[Raziel444]

ICO scammers are professional and smart individuals also. They do more thorough researches than most of investors and they are really expert in what they do. So to avoid those scammers i think all the suggestions being posted in this forum should be considered by the future ico investors especially the due diligence in researching all the aspects of the prospective ico. And yes knowledge in crypto currencies would be helpful for us to be able to assess the legitimacy of a certain ICO.

[skymia]

ICO scammers are professional and smart individuals also. They do more thorough researches than most of investors and they are really expert in what they do. So to avoid those scammers i think all the suggestions being posted in this forum should be considered by the future ico investors especially the due diligence in researching all the aspects of the prospective ico. And yes knowledge in crypto currencies would be helpful for us to be able to assess the legitimacy of a certain ICO.

Do your research... check out their community... most coins have strong discord community... go to their discord, observe for a few days... good luck with your choices.