How to avoid ICO scam

[skymia]

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.

Why are you against Russian crypto projects?  Interested to hear your about your previous experiences!

[miltonpogi]

It will be good if you will observed first the currency that you invest for, like thinking what will happen if you make investments, but for for me observing the faith of other investors in that cryptocurrency is the best idea to identify if its legit, other one is noticed the history and the people who are in charge in manipulating the cryptocurrency.

[ginika]

here are some factors that need to be identified to avoid fraud cryptocurrency and ico:
1. the most basic thing is to know well and thoroughly examine the team members or management behind it and the history of their project before you invest
2. check the documentation (whitepaper)
The whitepaper should have background, goals, strategies, focus and time for implementation in each project.
3. Look at token sales
4. Never give a private key to anyone

[pk lurah]

I want to say, Today many ICO make their appearance and many of them become popular and known but others are fraud, unlawful or illegal. So Read more information about them in the forum and always ask any questions on their telegram or other chat platforms.

[Blockvisory]

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

Search. Read. Learn. That's your guideline to avoid being scammed.

[ozols]

I think its not impossible to avoid them all, you can just see some of them but you never know what will thinking ICO team

[kendedes]

It may be difficult to avoid the ICO scams 100%. However, we may take deep consideration before investing in such ICO. Of course, I will look upon the team. We may realize the track record and experience of the teams. It will ensure my priority. Then, I will also look at their product offered and explained in the whitepaper and its website. For now, I will join ICO after researching the progress of the token sale softcap or progress of the sale by researching their exact wallet and information.

[yusuf98]

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.

of course for beginners need a few time to be able to understand about the world of cryptocurrency and for that one to start the ICO project must be careful to avoid the ICO which may be a scam so as not to disappoint in the future.

[@maetthan17]

I think you can avoid it buy having a research  in all kinds of campaign or in the campaign  that you want to be part you can research it so you can avoid on having a scam

[nightxglow]

Well i don't think there's any blockchain way to avoid ICO scam, because if there is, then the scams in the market should have decreased by now, right? But the scammers are still out there, maybe making a new ICOs to scam.
The only way to avoid it is we need to be extra careful. Of course, the scammers may know what they need to do, but if it's a scam, then there may be a flaw somewhere and it's what we need to find, so we don't get scammed and lose our money. I think joining the popular and recommended ico is great way since if the professionals suggest it, then it has small chance to be a scam.

[liangweicha]

Most of the time you can use the Google software to find out if the team has a bad record.
If the team has a record of fraud, the probability of the project is a shit.

[Monkeyseemonkeydo]

Most of the time you can use the Google software to find out if the team has a bad record.
If the team has a record of fraud, the probability of the project is a shit.

I can google for some nice programmers with brilliant reputation, put them on my list and start ICO. How you gonna deal with it?  

Telling you, most of ICO (even not scammed one) are running that way.

[Gizaza]

Choose projects with high ratings in icobench or icoraiting. Read the idea of project, jurisdiction and whitepaper.  I recently found one of the best upcoming ICO called lccx.io - looks like promising exchange based in London.  Well developed white paper, experienced team, located in politically stable jurisdiction

[yusuf98]

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.

of course with the number of ICOs in the crypto world there may be one ICO scam and that there must be with the possibility that ICO is not too visible to investors to invest with the decline of ICO for the coming day is certainly very disappointing.

[SunJAB]

I think you should equip yourself with a solid knowledge from the Crypto market. So you will stumble less. Choosing a good ICO requires you to have many years of experience in the market. Not just a few words on this forum.

[Seram1]

it may be hard to avoid the ICO scam 100%, but you can find out whether it is a good ICO or not by the way
1. see the manager, if his manager has a good reputation the possibility of the ICO project is not a scam
2. look at his team
3. their road map
4. whitepaper, because in whatepaper you will know how this project runs
5. Observe the trust of other investors in the cryptocurrency.

[deviltasha]

Look at project, better if the team/company has other products also; look at team it should be experienced, should be involved int he project and should be real; look at information provided, less information means more chances for ICO to be scam.

[baby222]

Always make sure you invest in good ICOs by researching about it, checking the project they have and also reading the people's reviews

[CaptainKid]

With the popularity of crypto currency, the number of scammers has also increased. But on this forum and on the Internet you can find information about each project of interest to you, and distinguish between gendeme scammers and where a really good and prospective project.

[natalagerman95]

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.