How to avoid ICO scam

[reality18]

To avoid scam ICOs, you need to perform a personal study on the ICO especially pay attention to the whitepaper. Read it very well and identify the idea behind the project. Is the idea worth attracting investors? Also, check for consistency in information the team members provide in their various social media outlets.

[1714839257]

1714839257

[1714839257]

1714839257

[1714839257]

1714839257

[1714839257]

1714839257

[1714839257]

1714839257

[ExtremeFacials.com]

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 is much simpler that you think it is, because, if you will be very careful and sober, most likely, you will recognise that ICO is scam and you will avoid it. It works at least in my particular case, experience.

[Senyatu]

Yes, this can not be avoided , I think you need to follow closely the project , and if you invest a lot of money to fly to their office

[Baxta]

The best way to avoid cheating during ICO is not to participate in it. Another way is to choose projects that do not hide the fees and show your basic smart contract where you can see how much money is invested in the project.

[dagelan]

to avoid the scam ico, we just need a strict regulation and regulatory body that protects the investor cryptocurrency, maybe the sec role will be very important

[Jukwle]

Its so difficult to decide whether an ICO is trick, now and again you can just know it if the undertaking is now done. regardless of whether the ICO is great and their stage is promising. so the best way to decide it is to check their experience extremely well and do examine a thousand times if necessary.

[annaby]

Scammers are now so sophisticated that it is sometimes very difficult to avoid the trap. On the maximum, study the information.

[wdelius]

Easiest way to avoid ICO scams is to only look at ones that have a quality team and good backing from a community.

[Jakson123777]

Before you invest your money in the campaign you need to study this project.Even you need to watch how many people participate in the bounty.After all, people who participate in the bounty will not contact the scammers.

[Diablesfunis]

If you want to avoid scam then you should conduct a thorough research regarding the project that you want to invest. You should check whether the project is doable and the background of the team, do they have the ability to run the project and if they are real people with real information. Also don't forget the basic rule, if the project seems too good to be true then you have to be careful, there's no easy money even in crypto.

[BitForceOne]

It must not  result that  demanding to notice a non-legit ico, just test the promoters and their social CVs meticulously and choose whether these look honest.

[Suares02man]

9 Signs of Identifying a Scam ICO
1. Anonymous Team DEV - fake profile
2. No use for coin
3. sketchy whitepaper
4. Do not provide contact
Commitment to profit when investing
6. Use sentences that are passive, engaging
7. Use multiple buzzwords
8. No roadmap (development trip) or yes that is not realistic
9. No demo products

Wow. May be you create your own topic where will open all this paragraphs. I believe that it will be very interesting. To my mind.

[Hadarula]

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

this is a very good qurpestion and i belisv that it comes with an experience and i think that you  an learn from that

[Hadarula]

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 .

in my opinion it is sk hard even for a professional person, so do not wokry and listen to your i tuition ithelps a lot of timss

[Ezotikk]

Very much depends on luck when buying coins. Unfortunately, there is still no mechanism for screening fakes, but it will soon be!

[txfidk]

to avoid fraudulent ICO-it is better to study the project in which you are going to participate.

[adekogbe]

In order to avoid scam ICOs I will like to add a few more points
* ICOs contract address should be available to everyone
* The project team is very important and has to be a team of genuine professionals
* a working Product that is not just a website illustration
* a clear and progressive roadmap
* minimal bonus offers

[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 check the site and the roadmap, then to go to read the Whitepaper.

[project-z]

In order to avoid scam ICOs I will like to add a few more points
* ICOs contract address should be available to everyone
* The project team is very important and has to be a team of genuine professionals
* a working Product that is not just a website illustration
* a clear and progressive roadmap
* minimal bonus offers

investment funds do not participate scammers projects. This is a good sign that the project will be successful. But if the funds participate - it's hard to get on the white list

[angrybirdy]

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 such thing, every bounty campaign in this forum has no guaranteed of success and legitimacy. you just have to find a clue that will verify that their given information is legit and you dont have to worry.