4 main reasons why ICO projects are not trusted

[contecsion]

The projects I follow will not be trusted when it has no clear and fresh idea, the Dev stamp team does not reveal or have scammers, no community of interest, no roadmap and whitepaper. Here are some reasons I often overlook ICO projects.

[panjay]

Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.

The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.

what..for a second I think I have been reading about poloniex.

Joke aside, there are already some alts that have a function for predicting some ICO like WINGs for example, you can get the alternate view about an ICO with them tbh.

[kaeluxdeuz]

My 4 reasons would be as follows (but not in any particular order):

1. Project/Concept cannot be achieved, no basis for it to work now or in the long run.

2. Too expensive, soft caps/hard caps, token value also.

3. The board of members and advisory team are not solid, inexperienced, no knowledge, no feedback.

4. ICO website doesn't exist or not descriptive, No groups/channels for community and no communication between team and community.

sorry im a newbie, can you please tell me why the board of members is a reason?

A team or board of members MUST be solid and have very good experience! By checking their profiles and checking their background and work experience, you will know if they have the capabilities of supporting this project and you will also see if they will be able to "troubleshoot" any given issues and at the same time be able to help the community with any enquiries they might have.
That is why you should join their Telegram channels or groups - in those groups you will be able to receive information about the ICO and keep up to date with anything about the ICO.

[rayk]

If team members are unknown, there is even no need to look at project. Because I like most projects but I can't see any team who can execute it. So team does matter.

[dhka]

The ICO teams getting unprofessional day by day, there are some serious team with serious efforts
But there a lot of fake unprofessional team, I mean A LOT
They just want to collect money as much as they can by bluffing as much as they can

[dcvmarvel]

I think Team is important too, if the team cannot be trusted by their profiles, then you have no reason to follow or invest in this ICO.

[eiracube]

Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.

The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.

Sure, that's a real points. Team that doesn't exist on Linked In, or that does't reply is strange and not trustful.

[leea-1334]

Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.

The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.

Very good points, I think nobody can disagree. In fact, I would even say numbers 4, 3, 2, then 1 are the priority. But to be honest, these are simply basic customer support that is very important to all start ups, all services, not just ICOs.

The smart ICOs now already take care of 1. Everyone has that. They even have 2 or 3 done easily now through Slack and Telegram and even here.

That said, the best ICOs invest a lot of money in promotion and bounty. so 3-4 are hired people from here and freelancers. So not necessarily the best solution.

Good projects recruit and train the support staff first. Then they launch.

[moynul2050]

I think Team is important too, if the team cannot be trusted by their profiles, then you have no reason to follow or invest in this ICO.

Yes at least they are not foreigners and can be recognized in a professional, educational background of quality.
Easier you can check them in linkedin.

[RADTEAM]

Support is important indeed.
Also, my number  5 is legal -  how much resources founders spent trying to make an ICO legally viable? If the IC is legal and regulated, it can eliminate many issues from number 1-4, since you need to get through a lot of checks while doing a legally correct ICO.

[NickBrown]

You can research independent sites that do a deep analysis of the team and the project idea itself

[metribitcoin]

Thanks for this information, this information helpfull how to find good ICO. I can add one more thing, to decide that good or bad project is depend on the team founder and their community. If the founder already known in publik and has good team work then they will succes. And also the purpose of the project really interesting so many people and investor will be jump it.

[Vaskiy]

1. Existence of more ico programs which initiates a confusion in prediction of the good and the bad.
2. Some trusted ico projects going as a scam creates a panic among the users.
3. Fake pumping groups that try to manipulate the moves of the project.
4. Above all, people never try to understand it better going through the different sources provided. When one reads it thoroughly automatically can predict the worthiness of the ICO.

[R_Block]

Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.

The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.

Very good points, I think nobody can disagree. In fact, I would even say numbers 4, 3, 2, then 1 are the priority. But to be honest, these are simply basic customer support that is very important to all start ups, all services, not just ICOs.

The smart ICOs now already take care of 1. Everyone has that. They even have 2 or 3 done easily now through Slack and Telegram and even here.

That said, the best ICOs invest a lot of money in promotion and bounty. so 3-4 are hired people from here and freelancers. So not necessarily the best solution.

Good projects recruit and train the support staff first. Then they launch.

I absolutely agree! I think these subtle cues speak volumes about the types of people running these ICOs. If the founding team is doing this for all the right reasons they are likely to be well prepared and have made significant stride in other aspects of the project e.g. product.

[lobo13hf]

Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.

The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.

Most of the developers are not publishing their linkdn and that can be considered as ico with unknown developers. Just stay away from there.
The second they are starting with limited person. But for some ico with a lot of the people in there and they can build strong cs.

But some ico already made ontime communication with the investors.

[CryptoBuds]

Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.

The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.

This kind of projects doesn't worth that time you are spend to study them. I'm trying to avoid them. First of all any project should be communicative and responsible.

[readygoaw]

I agree with everything except 4. If there are too many messages, the team will not be able to respond to them too quickly. You also need to pay attention to the experience of the team enough to make a useful project

[Creating N Action]

Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.

The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.

we need too foreknow the ico project before we diving it. Also the ico teams we need to pay attention to know how to make a project and the useful of their projects. Other way to stay in an ico projects we need to know the number of members who response to a good projects. More participants = good project.

[Beicin]

To add another point to your list:

- They don't have a working product or even a demo to show as proof of concept before asking for severel million dollars.

[ManavKalyan]

Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.

The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.

Just read about one such example "Confido"

https://www.cryptocoinsnews.com/exit-scam-confido-startup-vanishes-after-raising-375k-in-ico/

These scammers are a shame to the community creating bad blood and distrust with the entire ICO concept.