How to avoid ICO scam

[UAE Seasider]

You need to do plenty of research to verify the identities of the main personnel behind the ICO. check out all of their social media profiles all of which should be more than 12 months old with a lengthy relevant history behind them. Make sure the project whitepaper is both informative and rational, I have seen some terrible ones in my time. I am only looking at projects now with sensible token metrics, if possible an already working solution and previous successful business experience in the related field.

[Sandeep24]

We can't avoid scam in ICO because scammers are easily targeted innocent people. It means regulating authority is required for monitor all lisited project and if they will be found any irregularities then immediate take strong action on listed company and their representative.

[DarkNecromancer]

I think it's impossible to protect yourself against 100% of scammers in the ico sphere. You can study the project, get acquainted with his team and advisers. But nothing will give confidence in these people.
Previous projects are also not an indicator. They can earn themselves a name, and then disappear with your money, selling you candy wrappers for ico.

[Guxidem]

You truly never can tell if an ico is 100% genuine or trick. It is simply a question of our intuition insightful choice to whom abundance supervisor are we going to give our trust to. Ofcourse we have to do our own particular research, for example, perusing their whitepaper, visiting their site and checking the colleague's advancement foundation. Being trick is difficult to stay away from, it is just piece of the crypto business, learned and forestall it to happen once more.

[ayu07]

There isn't a sure way to avoid an ICO. The team can be good, a good whitepaper with a great proof of concept, yet the project can still fail or the team run away with the cashed raised. The best way to avoid ICO scam , is to not invest the amount you can't afford to lose. If you will invest in an ICO, ensure the company has existed offline for some number of years, and has a proven record of making a consistent profit before given them your hard earned cash.

[gapthecap11]

You truly never can tell if an ico is 100% genuine or trick. It is simply a question of our intuition insightful choice to whom abundance supervisor are we going to give our trust to. Of course we have to do our own particular research, for example, perusing their whitepaper, visiting their site and checking the colleague's advancement foundation and some back ground to their project. Being trick is difficult to stay away from, it is just piece of the crypto business.

[crypto_blockchain43]

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

To look for ICOs at the reliable platforms like: https://forico.io

But anyway make your own research before investing

[duc4487]

Firstly you should research carefully about the ICOs, especially about the technical team, because no matter how good the idea is, if there are no good support then the project will go to dead end. Look at their white paper to see newly update information be trustful or not. Join their telegram project, ask admin all the question that you can ask to see the roadmap of the program.

[otunayode]

Avoid high return and forward looking ICO with no track record of service or product they want to revolutionalize. ICO that gives to much bonuses a d unending bounty campaign is to be avoided as well!

[freakcoins]

As for me i would read as muchbas i can and understand whats that projects goes too,if theyre very active ICO's  dont just beleive for any promosing projects their must be a valid proof for you to be fascinated.,be wise and alert all the time because there is nothing newcomers be scam if you were only vigilant.

[vandeam]

This is very hard to see a scam because now the scammers disguised themselves very well. You can choose some good resources for scoring ICO and trust them.

[Sondale]

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

i thinkmthat you have to be very carefull at the beginning but later your intuition will helpmyou to tellmgood things from tbad ones

[Sondale]

This is very hard to see a scam because now the scammers disguised themselves very well. You can choose some good resources for scoring ICO and trust them.

actually this question is very uptade as unfortunatelly there are a lotnof scam coins right now and i do not know what to do with it

[veekky]

Make proper analysis and select projects with strong community. That's it!
Scam percent of ICOs is extremely high, so it is essential to elaborate on your analysis!

[bizzargin]

Yes, these tips will help you better select projects, but do not think that after that you will find some success.

[jackylion]

To avoid these fraudulent ICOs, in my opinion you should update your in-depth knowledge, so that will be better for you, check out the roadmap, whitepaper, team. These are the essentials for evaluating a potential ICO

[dang thi bich thuy]

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 currently difficult to spot scammers in ICOS campaigns as they blend in with the crowd and create campaigns like that. We mainly observe and experience, partners, teams, media channels, the amount of tokens held and Learning about campaign managers. I would say this is only a criterion for looking at, but it is difficult to prevent from the beginning.

[Reinz12]

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

Dyor, that's the only way to avoid ico scams even though it's not 100%.
Currently it is difficult to sort between good ico and scams ico , because those who do are also experienced people in their fields.
Team profiles can also be deceptive, they can be picked up from linked, maybe by searching a lot about the project and team is the best way besides a tempting project

[Gypat]

I think this is something we all yearn for: a sure way to detect scam ICO but as it stands now, I don't think there is that way. What we can do is to go by the already known ways; consider the team, the idea etc.
I will always say that before you invest, study the tean for quite some time. Don't just invest as soon as you are introduced to it.

[Benjamin353White]

It is best to invest only in things that you know well. Since you already know the basics of the product and project, you have built yourself a foundation to learn more and learn more about the technology behind the market. , supply, demand, development path, factors.