How to avoid ICO scam

[HarrisonErnest]

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

You have to follow these steps:-

Read the whitepaper
Check the team developers and the manager
review the website and check the roadmap.

[Winedmeel]

For me the main thing is having a good, well information about the project, product and their teams background, if this ico doesn't have this three things its very suspicious for me and I wouldn't risk my own time and money for this useless ICO.

[asoy]

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.

[asoy]

The best way to avoid ICO scam is to always do research yourself, don't go by following people hype or opinion, following people opinion might make fell into a scam ICO, many people are paid to say good things about an ICO.

[chehintog_24]

You really never can tell if an ico is 100% legit or scam. It is just a matter of our instinct wise decision to whom bounty manager are we going to give our trust to. Ofcourse we need to do our own research such as reading their whitepaper, visiting their website and checking the team member’s development background. Being scam is hard to avoid, it is simply part of the crypto industry, learned and prevent it to happen again. 

[Ranly123]

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

It would be better to invest in ICO with a good working physical product. In that way we can have knowledge on how the ICO will go in the future.

[VolkoB]

Consider the project from all sides. Analyze and make a "cold" conclusion

[olsyd]

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 no such rules and never will be, investments always involve risks

Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers?

Maybe Artificial Intelligence will help with this

[rfj]

There are no such rules. The best way to avoid ICO scams is to do some research before taking the risk in investing your money.

[aomakun]

first you try to find some references and search some references ico you think potentially of these results you should be able to determine which ico most potential to be invested and do not be tempted by many advantages usually projects that provide many benefits may be the scam project

[leonard852]

There are many ICO scams, and there is no special way to understand them. Personally, I would suggest that you double check everything you do and not let any stone be unaffected. It's best not to be cheated when you miss it.

[Rizwan Javed]

The best way to avoid ICO scam is by doing research on yourself and not just following people hype or opinion. Following people opinion might make you fall into a scam ICO. Many people are paid to say good things about an ICO these days.

[gwaposakon]

I think the best way to avoid ICO scams is having a great deal of research on the project you plan to invest. Having deep knowledge about the project, its platform, and the team running it is very important especially now that the majority of ICO projects are reported to be scams. Scammers are getting wiser by the day that they can imitate real projects so be extra careful.

[market field]

You should read a lot on the topic of fraud. in that there are many ways to select fraudulent ICO projects. If you follow these methods, the ratio of fraudulent schemes to trick you will be very difficult.

[jeraldskie11]

You have a good idea also but for me, to avoid the scam ICO you need to read their white paper and also making sure if the words that is listed in the white paper is real. We also need to follow their social media updates and look on how strong their community is.

[milan2018]

By making sure you do your due diligence

[kalstarzz]

now it has too much ico scam it feels like to have a team or organization in charge of ico filtering.
hope everyone will be saved from a fraud.

[anafiene]

Actually, no one can avoid the ico scam, everything can into this trap, but if we are careful and careful so we can avoid it. Learn and be thorough about ico, this helps you in avoiding a scam.

[tonywangg]

Research, research, research.  You have to do very diligent research to avoid scams and even when you have been very careful you can still fall victim.  There are so many scams now its hard to avoid.

[jermainephoe]

You may go for some trusted team like Amazix, Bountyhive and tokensuite. The Amazix team iis very much good, This team is very professional too. Their maximum ico is hit and successful,  If ICO fails, then they will return your money back.  Bountyhive is a bounty managing team but  their all projects are really pretty good and successful.  Tokensuite is good also. This is another successful bounty ICO managing team