How to avoid ICO scam

[Maknae09]

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.

You can also learn from the mistakes of others. My advice in order to avoid an ICO Scam is to communicate with your team and be knowledgeable about the Cryptos especially the Project of the ICO that you read. Try to focus and inspect their website, see if they promise too much. If you think so, avoid it.

[Euroda]

Well there are a lot of ways  to know how an ICO is a scam you can look to the developers team if there are all real and also the popularity of it and if it not popular and also the dev team is not real that would be a scam

[harapan]

it's very difficult to determine a scam ICO now, maybe by doing a lot of research and searching for team information and seeing telegrams with non-bot communities

[Moxivuki]

Even with many ICO rating sites, there are no platforms and organizations that can provide you with such services, and these ratings can only be used as a reference!

[TastyChillySauce00]

it's very difficult to determine a scam ICO now, maybe by doing a lot of research and searching for team information and seeing telegrams with non-bot communities

Most of the scam ICOs are already spotted even in their early stages, people are now have become more and more smarter compared to at that day when the first ICO appeared.
They know how to distinguish fake profile and many more. Even most of them seem to take an in-depth review of the whitepaper.

[makankambing]

First of all, I see user interface in their website. If user interface their website is so bad will hard pass. You know this things is like a cover a book & it's Important

[jaaeeeyyyy]

Now it has become much easier to identify crypto projects. Very good projects hardly collect the necessary amounts. About the scam projects are not even heard now. It is enough to communicate in a telegram to understand.

I think it's difficult to distinguish ICO scamp. because there is no definite benchmark for a good ICO.
All I can do is join the majority because if the ICO looks bad, followers will not be many so in my opinion it can minimize errors in choosing an ICO.

Well, there is really no way to found out that the certain is ICO is a scam project or not legit one, this is the perks of being here in the cryptocurrency world there is so much anonymity involve. Investing on such ICO is a risky way to gain a profit made out of time, spotting scam ICO is hard but having a regret is harder. You can look and search for the Developers and founder of the ICO on some sites giving rating to ICO's but don't just rely in there.

[nangiarushali]

Truly speaking, there is no way to avoid scam ICO . There are so many people who try to trick you and waste your money and effort. You just have to be as careful as you can .

[Ngewex Yuk]

As information that there are currently hundreds of live ICOs, all claiming to be good and promising ICOs but we have to realize that there are also many scams, the good thing to avoid scam projects is to look for references from third parties such as this forum discussion, ICO rating, telegram and so on.

[thinhthai]

Be responsible for our money, I think we should find more information about these project carefully such as: website (The creation time, traffic...), Team dev or Core team and the most important is the company behind them, if the ICO with the famous company as a adviser or also they launch their own ICO, it's a good one. But no matter what, they can't guarantee the price of their token on the exchange wouldn't be down

[nonbody]

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 you want to avoid being cheated, you must investigate the true background of the team members before starting to participate in the ICO project. Because of some ICO projects that were eventually identified as scams, they never show specific information about team members, and you can't complain about them.

[arendator]

Just look on social media profiles, they can be just feik or go to their telegram chat and ask them some questions about their whitepaper or roadmap. They must answer you calmly and informative.

[Quas09]

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

For me, it's simple. Go for a deep research about that ICO, you will if the ICO is scam or not. If it's a legit ICO, and in the middle the ICO is not getting popular you know what will happened. *In the telegram the bounty manager or one of the team will said that the ICO will be paused or something that is scam, because they didn't reach the fund, or the soft cap. That is the main reason why the ICO is getting failed or scam.

[Badboy[BTC]]

If you are constantly involved in various projects then you most likely will not be able to avoid scams given the fact that they are now very much you sooner or later in any case they run into and there is no means that surely you will save about them

[kak uli]

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

we can't avoid the Ico trick, but we can avoid the bounty trick that will Scame. my previous experience, I joined the bounty managed by a trusted manager. it means that the manager has never committed fraud against forum members.

[lordmick]

In cryptocurrencies market, especially in investments in ICOs you should always invest only that amount of money, which you can afford to yourself to lose. Also always invest according to principals of diversification and money management. Also before investing you can try a deep study of information about the project. There are many materials how to do it. There is no any universal way for it, but first of all as it was motioned above you can learn ICO ratings, but you should know that these rating often ratings may be fake. That's why learn whitepaper of every ICO, try to understand what problem can solve technology or product is offered by the team. Also very important to learn information about team members, their experience and beta codes of the product, if it is possible of course. Don't believe to anybody, make your decisions based only on your own research on the ICO. But personally I like more just to trade, especially through marginal trading and get quick money.

[Benito01]

You can avoid scam ICOs by just making your own research first before investing in one ICO or before joining their advertisement bounty campaign, just look and analyse their white paper if the project is realistic and the team must be real and trusted.

Here some thread that can help you, see the link below.
https://bitcointalk.org/index.php?topic=3329803.0

[mikkev01]

Well, we agree that the crypto market has the ability to give fantastic returns but finally, all businesses are subject to the same market forces. If an ICO promises unrealistic returns on investments, like “Our coin gives you 1000% return in x months!” you had better watch out.

[jin_dv]

There are precautions that will help you before taking part in any ICO. The first and most valuable advice to follow when it comes to steering clear ICO scams is always to trust your instincts and use your common sense. If something seems too good to be true, then it's probably a Scam. The unconvincing whitepaper and underdeveloped website this brings us to the next point. You should definitely avoid ICO projects with weak sites or white papers. Legitimate startups will always explain why someone should invest in a project, as well as make an effort to show potential value and some noteworthy plans for the future. Make sure you dig up information about team or developer activity or history in the crypto community on Reddit and other cryptographic websites. Empty or non-existent code repository Even if the website is untouched, even if the project announcements and whitepaper seem legitimate, if there is no code repository then there is no project to start with so you can spend your money and your time elsewhere. Plagiarism This may be the most difficult to discover so far. In the past, there have been several examples where new fraudulent ICOS have completely copied content from other ICOS, including logos and images. Again, diligence, focused research, and the community at large can help you in this regard.

[mary0919]

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

Simply do not join ICO in order to avoid scam but for me some ICO are profitable if this will appeared in the exchange. There are lots of ICO and if you want to earn om ICO just choose ICO that are valuable and has the chance to meet their hard cap.