How to avoid ICO scam

[thaokhuyen03]

Having a method or a fixed evaluation criteria is a very difficult thing. Most of the evaluation will be based on personal experience, but the data and documents in many different media. I found that: The assessment is often based on the feasibility of the project, the quality of the development team, community-oriented, supported by financial funds

[maronalex2]

Avoid participations there and you will be saved from this scam. I like the system of ICO's work but I suppose that it hasn't not been done very well, it has so many disadvantages.

[cuongdola211091]

The best way to avoid fraud when investing in an ICO project is to evaluate the development team of the project. Should select the ICO project has finished selling softcap. It would be safer to invest in that project

[kniheant2]

You should be more focus on their white paper there are some information that you can get regarding to their project, and also gather information to their team,and you have to limit review many ico.

[AlexanderTW]

Scam ICOS are on the verge these days the fact that most of them focus on profit maximization in short period of time. How to avoid this is to critically study the white paper of that particular project. The road map is also important, the team backing it and also project partnership.

[telradtraverse]

i think the best way is still of you do your own research in the topic (what exactly the project is about, is there a company behind the project, who are exactly the founders, etc.)

[Odebowa]

By reading the white paper very well and check how the manger and the team work is been done

[Ducky1]

Rule list can be very long. The basic rule is availability of a working product and a team, but it is not a guarantee that the project is not a scam

[fina13]

Learn about the project by reading the whitepaper and website. check their team members make sure they are experienced. see also the sponsor or partner of the project

[cchub]

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's fairly impossible to totally avoid falling for a scam if you are an investor. You should just live with it and try to minimize it as much as possible.

[dmerrifield9844]

Check the background of the team who is running the project. The advisors and the like. Check some website who is rating the ICO.  Check if the project has a potential usage in the actual world and top of them all what is your gut-feeling towards the project.

[Mysteryla]

Most times, we make the mistake of not giving the required time to carry out research on projects before participating in them. We tend to depend so much on ICO listing sites. If we do these by ourselves, there will be lesser chances of falling victim of scam ICO.

[barabeku]

I’ve got many criterias by what I choose the ICO, but even this can’t give me 100% of guarantee those not appeared fakes.

[catterpillar07]

High members of the forum can help you to find good ICO. If you don't want to analyce statistics of ICO on raiting sites.

[Dancing_Lion]

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

If the investment project begins with problems with the payment of profits-delays, delay in payments due to the verification of the identity of the investor, payments are not all, but only to selected participants, paid only small applications, increased rules for withdrawal, etc. – wait for the fast bench.

[Arcanefist]

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

if the program does not receive fresh investments for a long time, it will not pay profit to old investors. this is a good way to detect scams

[Ayobami99]

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

Not even algorithms, there are projects that act like kickstarter will will not release all funds contributed at once but gradually as the project progresses to cub scams

[JackyVanmarsenille]

in this forum that one of the best way to avoiding an ICO is a scam was thru campaign manager. We should know who is the campaign manager is because they are the one to do fully research about the ICO if the certain ICO is a legit or not because their long time good reputation will be at stakes.

[daxiake]

You must first read the white paper of this specific ICO before you invest to know if they are legit and you must see the name and face or identification of every member of their team.

[basty03]

To avoid a ICO scam you need a deeply research before you invest in a ICO project. Read and study what ICO project will be give to a investor and what the project will contribute in crypto. Also you need to observe if the project have true activity in crypto.