4 main reasons why ICO projects are not trusted

[TokenSell]

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.

[tukangkopi]

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 is my solution, ignore the ico project that does not include their linkedn link, simple.

[otunayode]

All the point you have raised is what characterized open source, decentralized idea! Majority of us are not here for celebrity status that is why if you are buying to ICO, you mustdoyour own research and accept the risk you are willing to take!

[BitcoinNational]

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 is my solution, ignore the ico project that does not include their linkedn link, simple.

Agree with you. At least, it avoid you to dive into an ICO that doesn't worth it. I see what you mentionned like clues to evaluate the potential and the seriousness of the project (aside others factors of course)

[greeklogos]

It is really hard to chose a good ICO for investment, cause of many projects are without violable. Many experts are saying that 99% of all ICO projects are scam and only 1% are going to succeed. Today it is very easy to cover such weak projects under the mask of a successful one,  such marketplace as Fiverr have been offering ICO whitepapers for less than $100.
You can read here everything more particularly: https://cointelegraph.com/news/experts-caution-investors-against-cash-grab-icos-buterin-speaks-out

[KingScorpio]

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.

hmm yes i could definately fix this, but many ico projects are beeing targeted by their countries "authorities" or shall i say the money printing elite,

so they cant be public at all, was bitcoin public? did they avoided anonymity? even if you answer question many people dont understand them, or simply the managment causes so many costs that you cant focus on the yield generating work,

neither way, the distrust will also kill kryptoeconomics and bitcoin & co. because there is no one realizing economic values.

regards

[abaye]

most especially this lending coin ico. they dont want to reveal them self..

[irvinwelsh]

At the moment, even communication with team will not save you from fraud of any kind. Main thing you need to recognize - Does the idea brings added value to the industry or not, than you'll decide to invest or not. This is not 100% guarantee too, but who wants to kill the working business?)

[TokenSell]

At the moment, even communication with team will not save you from fraud of any kind. Main thing you need to recognize - Does the idea brings added value to the industry or not, than you'll decide to invest or not. This is not 100% guarantee too, but who wants to kill the working business?)

Yes. Team can ban in chats if you ask them questions they do not like and answer only questions that they want to see. That happens all the time.

[Celynnelisi]

At the moment, even communication with team will not save you from fraud of any kind. Main thing you need to recognize - Does the idea brings added value to the industry or not, than you'll decide to invest or not. This is not 100% guarantee too, but who wants to kill the working business?)

Yes. Team can ban in chats if you ask them questions they do not like and answer only questions that they want to see. That happens all the time.

In any field this is so, not only in the ICO.

[Ereun]

Unfortunately this positive development is also offset by the emergence of various negative projects aimed at scam or fraud, who ride the booming world of cryptocurrency and make use of public  and lack layman of info about this new technology.

I add one point that I understand:
-Hype marketing,,
 Alert to all kinds of marketing hype, promotional types that use fantastic words and phrases and also try to exaggerate the potential of a project without clear evidence,

[Bren Briones]

Yeah! All points discussed were correct! Anyone should be wise in joining any campaign. Such campaign with low credibility should be avoided. I think it is mostly important that a campaign must have a good personalized communication. A set of team is assigned for the overall campaign. PR is quite relevant for the success of a certain campaign and if one has not supported it with good PR back like what is stated in the forum, neither no designated person to answer all queries or if there is but will took a while to answer, then maybe it is the red signal that this campaign should be avoided.

[Ponylon]

and there are way too many of them out there right now. It makes evaluation really difficult for inexperienced and even expererienced investors. It's not easy to just go through thousands of projects as a noob and pick a descent one, especially when you have no idea of the overal blockchain trends and how they might affect the future. It's tricky, I know, but if you manage to find this one project out of these thousands that will make it, then you definitely will be rewarded handsomely, most of the better projects are not even known all that much and they will explode when people start learning about their use-cases and potential future use. There is so much potential but unfortunately so many people taking advantage of it.

[Vastraint]

4. You have to wait several days to get the answer from the team.

I guess this one should not be included! Because, the team are always too busy to answer all question being asked everyday.

But I totally agree on the rest of your reasons, especially no. 3, because it makes everything more suspicious. I hope it soon got implemented on some good suspicious ICO's, but all we can do now is to choose properly those trusted ones without your 4 reasons to make a sure profit.

[KingScorpio]

At the moment, even communication with team will not save you from fraud of any kind. Main thing you need to recognize - Does the idea brings added value to the industry or not, than you'll decide to invest or not. This is not 100% guarantee too, but who wants to kill the working business?)

added value?

hmm did bitcoin brought added value or redistributed it away from the established financial system?

secondly added value is possible no problem, but then you have to look for efficiency,

[kapipindot]

Thank you for this guide. With this, ICOs should be regulated to prevent scams. Yes, linkedIn profile helps but I wonder if how can victims track or catch suspects and bring them to prison. Too bad nowadays some ICO where merely fly-by-night, no one goes to jail if ever they screw up investors.

[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.

[Nikola282828]

All the point you have raised is what characterized open source, decentralized idea! Majority of us are not here for celebrity status that is why if you are buying to ICO, you mustdoyour own research and accept the risk you are willing to take!

Of course it's a risk, as buying the ico, you will not be able to exchange it to sell it at least for the same price that was previously...

[illusioNiZt]

Well I agree with the first three points you mentioned but taking time to reply doesn't make someone fraudulent, it might be because they are getting too many mails or some other reason as far as you are getting a reply I don't think it should be a problem.

[Legobatman]

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?