How to recognize scam

[oiucoin]

Generally there is no free lunch, so as long as it looks weird, high pay are basically a project with a set of money suspects, these projects to raise awareness before investing.

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[tumokatok]

actually your explanation is enough to explain the scam project, an ico project does require a lot of funds, but we do not get caught in a scam project, we must know the background of their team, and the roadmap is also clear, if we want to invest in their project offer

[asdfbna]

Before investing in a project, we must first understand their white papers, road maps, teams and all kinds of information, of course, observe the attitude of people how it is, try not to find some sites are not doing well, only some explanation Unclear information project, this project is often a scam.

[HarringtonStark]

Before you join any investment program or a cloud mining site, always look for reviews from people who had been using it for a long time. That is what I do, I do a background check before I join in.

[Rhegz]

You can't recognize scam, it's to know if the scam is legal or illegal because as of now there are many scam that affects us today. But as for me, if the papers are legal, complete and notarized then it's legal.

[Akorharrison]

Hello everyone!

Today I've read a couple of articles and I've noticed that the most people are used to label each ICO as a scam. That is not fair, I know. Especially when you work in a startup launching ICO and do your best to make a project successful. However, having worked in ICO industry I learned how to recognize a scam just from one conversation with a Founder. I don't know how to explain this feeling. Probably, my subconscious translates knowledge, but I could not say a have a large experience.

So I decided to make a list of scam signs: (and this is just my own opinion)

- A founder and a team are not open.

Talking with a founder is always nice. They are usually full of energy and ready to talk about their project for hours. No matter how tired he/she is: when one is asking about a project, a founder starts talking about it with eyes burn with a fire. No matter who you are. When a founder deflects, tries to escape and avoids it makes you think that he/she just can't tell you anything important. What is more, it is crucial talking to a team. When a team member doesn't know how to answer a simple question about a product, it is also a bad sign.

In case of the lack of opportunity to visit an event and to talk to a team, you always can contact a founder and a team online. They should be open and answer patiently all your difficult questions. Even if you ask it every minute.

- Spending a lot of money on marketing isn't always show professionalism.

Just think. A company needs ICO to raise money for a company development. Isn't it a little bit queerly when an unknown company is too fancy. How? And Why? Why do they need ICO if they already have money on expensive advertisement? I don't know too  

- You know nothing about a founder. And you cant find any information about him/her.

Always google the founder. Always. And now I'm not talking about his/her FB page. I'm talking about his experience, education, photos, events he took part in. A founder should not be a mysterious person who came from nowhere. His background should be open to everyone.

- They don't have a readymade product.

Let's make a sober recognition. The competition is high. In the end of 2017 - the beginning of 2018 you just can't appear with an idea and ask for money. You need to develop your product before ICO. It should not be an amazing one. It could be just prototype. But investors need something real. They need to touch and try your product. However, just 16% of all ICO has a product.

And what do you think about it? What are your signs of a scam?

Yes you speaking right.  I strongly agree with you.

[bitfocus]

I guess this one would come handy to find scams https://www.bitcoinmarketinsider.com/crypto-scams-and-what-to-watch-out-for/

[markleal]

Hello everyone!

Today I've read a couple of articles and I've noticed that the most people are used to label each ICO as a scam. That is not fair, I know. Especially when you work in a startup launching ICO and do your best to make a project successful. However, having worked in ICO industry I learned how to recognize a scam just from one conversation with a Founder. I don't know how to explain this feeling. Probably, my subconscious translates knowledge, but I could not say a have a large experience.

So I decided to make a list of scam signs: (and this is just my own opinion)

- A founder and a team are not open.

Talking with a founder is always nice. They are usually full of energy and ready to talk about their project for hours. No matter how tired he/she is: when one is asking about a project, a founder starts talking about it with eyes burn with a fire. No matter who you are. When a founder deflects, tries to escape and avoids it makes you think that he/she just can't tell you anything important. What is more, it is crucial talking to a team. When a team member doesn't know how to answer a simple question about a product, it is also a bad sign.

In case of the lack of opportunity to visit an event and to talk to a team, you always can contact a founder and a team online. They should be open and answer patiently all your difficult questions. Even if you ask it every minute.

- Spending a lot of money on marketing isn't always show professionalism.

Just think. A company needs ICO to raise money for a company development. Isn't it a little bit queerly when an unknown company is too fancy. How? And Why? Why do they need ICO if they already have money on expensive advertisement? I don't know too  

- You know nothing about a founder. And you cant find any information about him/her.

Always google the founder. Always. And now I'm not talking about his/her FB page. I'm talking about his experience, education, photos, events he took part in. A founder should not be a mysterious person who came from nowhere. His background should be open to everyone.

- They don't have a readymade product.

Let's make a sober recognition. The competition is high. In the end of 2017 - the beginning of 2018 you just can't appear with an idea and ask for money. You need to develop your product before ICO. It should not be an amazing one. It could be just prototype. But investors need something real. They need to touch and try your product. However, just 16% of all ICO has a product.

And what do you think about it? What are your signs of a scam?

Hi there aleksandra_kickcity! That is a good idea and hopefully your project become so successful like those ICOs. But I have browse some site that list and evaluate those ICO's. I just forgot the website but I think I found it due to a twitter tweet by John Mcafee. He is promoting several coins and token together with those company that are starting their ICO. Hoever, the site seems so highly scrutinize those ICO that they ended up listing only a handfull. I hope your site would provide a more convince way and trustworthy. Good luck!  

[ocid]

To avoid a scam in the projects you need to study white paper

I don't agree with with you completely. The whitepaper can be one of the elements that can help you to recognize scammers, but not the only one. In my opinion, Team member feedback is the most important Element to recognize an ICO genuinely. Team members with a decent background and past work experience in the field of crypto gave us the confidence to invest in ICO. Even project progression also encourage investors to invest in ICO's.

That's right, look in detail at the background of the team who took part in running Ico, whether they have a bad history about Ico they've ever lived before. In addition, an explanation of Whitepaper on the project can be a recommendation to know the prospects of future intent and purpose.

[aleksandra_kickcity]

To avoid a scam in the projects you need to study white paper

I don't agree with with you completely. The whitepaper can be one of the elements that can help you to recognize scammers, but not the only one. In my opinion, Team member feedback is the most important Element to recognize an ICO genuinely. Team members with a decent background and past work experience in the field of crypto gave us the confidence to invest in ICO. Even project progression also encourage investors to invest in ICO's.

That's right, look in detail at the background of the team who took part in running Ico, whether they have a bad history about Ico they've ever lived before. In addition, an explanation of Whitepaper on the project can be a recommendation to know the prospects of future intent and purpose.

true! totally agree

[LuckyNicky]

In addition If you don't see the team on their landing page it's 100% scam project!
Because people must see the team and their level of expirience.

[Ridwan.P]

I'm not sure how I can find fraud in an ico. they usually work neatly and professionally. so no one thought that ico or signature you follow is a scam. sometimes we can only know ico is a scam or not when the ico ends. or from a bounty manager who knows that ico is a scam.

[michellee]

In addition If you don't see the team on their landing page it's 100% scam project!
Because people must see the team and their level of expirience.

maybe we can see that this is a sign for the scam project so we need to be careful and we need to know about the team at least, we can know who is the person behind the project. besides that, we need to talk with them so we can know if the project is good or not so we can make decision to join with them or not.

[JerryJam]

The main sign of the scam is very attractive. In order not to fall into the scam, you need to study their credit history well. In most cases, it will have negative reviews or none at all. Most lohotronschikov require an advance payment. As a rule these are insignificant sums. With such a sum of races

[lunaalthea]

This is actually great. Thank you for adding the list of things that I have to determine before joining an ICO and even invest on it. I usually check the member of bitcointalk, if he/she is reputable and trustworthy... figuratively and literally  then next I check if the ICO is too good to be true, of course I will do research about the ICO and then check how many legendary members engage in this campaign. It's called bench marking, since people with higher rank here has higher experience

[aleksandra_kickcity]

This is actually great. Thank you for adding the list of things that I have to determine before joining an ICO and even invest on it. I usually check the member of bitcointalk, if he/she is reputable and trustworthy... figuratively and literally  then next I check if the ICO is too good to be true, of course I will do research about the ICO and then check how many legendary members engage in this campaign. It's called bench marking, since people with higher rank here has higher experience

you are welcome 

[TheKeyLongThumbI]

If they can't answer simple questions like who are the people who are operating the project or business then it's a scam. But they can also use fake identities so research more about their records and social media profiles.

[DoublerHunter]

If you want to recognize a scam then you should be ready for spending a little bit more time than you used to be because it needs research so you will be able to find out some information that you can use to help yourself in making a decision for judging an investment and you should be aware of the basic types of scam and one of them is ponzi scheme which is one of the latest used strategy of an investment called bitconnect that stole a lot of people's money.

[watervo1999]

Run if...

They promise you guaranteed returns. Especially if it’s big guaranteed returns. Anything above 4-5% per year (that the boring banks promise you via FD) is considered big. There are no guarantees in life, bro.
The only thing "good" about the investment is the price is expected to go up. It brings no benefit to people except a means to gamble.
The people behind it are shady (you know who I’m talking about).
You need to recruit people to join…
If you wanna buy a cryptocurrency, you don’t need additional “upline” or “downline” to take care of your money

You can buy it directly from someone via a peer-to-peer platform like LocalBitcoins and then hold the cryptocurrency yourself.

Or if you’re like me and prefer using an Exchange, you can buy your Bitcoin directly there. You can even change from one cryptocurrency to another (e.g. Bitcoin to Ether) using Exchanges like Luno. 

[klser]

For example if i want to join the air drop , I read all detail about airdrop, and check the project manager, I preferre to join if campaign manager are in high rank mode. Also, I read the feedback about the project