HOW TO SPOT FAKE/SCAM TOKENS?

[NickBrown]

Some sites review the projects and label them as scams - but how to know if that is genuine? You will have to do your own research on the team and project.

[coastbank]

Hmm.. some wrote that its better to look github. This is brilliant idea. Github confesses what happens with the project. Also dev communication makes me realize as if they are doing good or bad. Some icos dont even use their social media at all.

[tradetoken]

Checkout the project. Study its whitepaper - is it crating more questions than providing answers?
Checkout the website scrutinizing every detail, click on every link. Is it an empty shell?
Checkout the people behind it. Check their activity. Check their LinkedIn profiles. Are they just fronts? Fake identities? Were these people successful in something else? Do they have the experience and know-how to achieve what they are promising?
What about what the project promises to deliver? Is there a real need for it? Will people be willing to even pay to get what the project is offering? What is the project's potential audience size?
Hope these questions help you spot the fakes and avoid a catastrophe...

[Frizz23]

I would recommend you to focus on 4 big points.
1. Team(background, previous project)
2. Technology.( you can ask people about technology on thematic forums and other communities)
3. Legal status of the token/coin.
4. Legal entity, location of the business.

[Lewoll]

Good ICOs hire higher rank members in order to manage their bounty campaigns and they pay high amount of money to campaign managers so that's one on how to spot that an ICO is fake is when a campaign and announcement is started by a newbie or junior members.

[Lewoll]

Some sites review the projects and label them as scams - but how to know if that is genuine? You will have to do your own research on the team and project.

Indeed, the best way to check wether an ICO is legitimate is when the core team itself are successful developers in their previous work and has enough experiences to support a cryptocurrency project.

[Lewoll]

I would recommend you to focus on 4 big points.
1. Team(background, previous project)
2. Technology.( you can ask people about technology on thematic forums and other communities)
3. Legal status of the token/coin.
4. Legal entity, location of the business.

But sometimes even these points are met but still a project has more chance to become failure or tagged as scam because the competition is very tight these days.
And also in addition to that, moat scam ICOs are started or managed by low ranked members like Newbie and Junior Member.
Some of them are conducting Airdrops and in the end you'll receive nothing but time wasted

[Come on!]

You can tell it like some fake if its somethings fishy. Also if you understand well the project but the tokens has a different use of it or just a copy.

Then how would you know if there is something fishy? Be more specific please. You can't tell whether a token is a fake or a scam by just looking at it or reading some descriptions because even the other old users had been fooled by these scams. Just stick to what is legitimate and have advice from your trusted co-users.

[kickero0O]

Also in addition, fake ones  has no clear roadmap. People behind the project are secretive of their identity ans usually  its a one man show. I mean only one person running all the project.

[Stella27]

You tell if its fake if first in foremost, it does not have plan and if the project's goal is not that clear. You need to thoroughly check the team, whether they are reliable or not. And lastly, assess carefully the project if its promising or just merely illusional

[witerfesscott]

read number  of total tokens / github codes / read more about how they plan for future and if they say you will win fast they Scam you

[Capeshifter]

most of the fake projects are usually poorly executed. Which means their website, whitepaper and idea are all made in a rush, which is usually the case. Another good indicator that a project has an idea that is "too good to be true", I've recently seen a start up that wants to focus on flying taxis (like flying cars). I mean, I'm all down to fly and go from one place to another real fast, but the goal has to be somewhat attainable, if flying cars have not been fully developed yet, then it's unlikely that a coin start up will all of the sudden find the solution and create the infrastructure necessary to attain that. The goal has to be both realistic and tangible, the consumers have to be able to adopt and developers should be able to build on something realistically.

[nodav]

Study the project itself, if it has growth prospects. Look at the composition of the team, but to assess the ability of the team is difficult. Look at the advisers, they should be known and experienced people. Well, if there is an initial version of the product and the start of sales soon begins

[MI6]

i will see the project and team, some project not success i will avoid, sometime bank concept is good to pick, it is more popular than health or game project, that is just my opinion