How to recognize scam

[aleksandra_kickcity]

ICO industry is dying and there is nothing you can do. Just making a good product and telling people about it

true. In my opinion, there will be no ICO in 2019

How sure you are guys that there will be no longer ICO in the coming years? I don't think so, I think a lot of ICO will still open and a lot will really stay. How to recognize scam? simply just look at the team and its vision if it is too good to be true don't join it is 90% not true and is just a scam.

This is just an opinion. ICO are not trusted any more thought

[1714246063]

1714246063

[1714246063]

1714246063

[aleksandra_kickcity]

ICO scams are real and you can't judge the outcome of an ICO based on the founders or team knowledge on the product. A founder or team member can know the products in and out but if their intention is to scam nothing can be done to prevent that. I only give my support to an ICO that has a product or service in the market for at least the last two years, with an established office and good team management. The team must be in full time work with the product. That give me confident.

Absolutely agree. There should be stable company behind ICO

[genology]

My advice is to do some research. Know more about the company or team you are about to get into. Ask your colleagues or people here on the forum on what are their thoughts about these companies/teams. I believe that if it is too good to be true, then it is a scam. It is already one sign.

[TopT3ns]

for now some ico which not use escrow not really success, and if with escrow, sometime in market not really success. but it is not so many case that happen.

[AravinthP]

I guess pre ico having a good set of investors and showing some good numbers is one way to choose.

[aleksandra_kickcity]

for now some ico which not use escrow not really success, and if with escrow, sometime in market not really success. but it is not so many case that happen.

In my opinion, advisors are more important

[Hamstead]

One of the biggest signs of a scam is that if it sounds too good to be true then it probably is. The whole point of a ico is to make money if the project has alot of promise it could all well be a good idea. If the founders won't talk answer questions then that has to raise doubts.

A good communication between investors and from the owners is always be there. If it is not present or even there no such replies from queries then it could be possible that their project is totally a scam. One of the best strategies made by scammers are just offering a huge rewards, which it could really attract more investors. That's why, before participating ICO project say to it that you have gather enough information from their team members and it have a reliable rewards.

[Micerker J. Meyer]

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?

I am also wondering how to realize this, all investors are worried about their money on the project.

[Brangos99]

You can observe how a site attracts its customers for example by giving a multiply fund injection after someone has started to enter the depth of a site then at some time there is no response at all when we ask when it can make a profit. That is crucial whether the site scam or not.

[Chakitot]

In bitcoin industry or line.... Scam can come from nowhere....
... It someone offer YOU a chance to have money or bitcoin in a very easy way and the fastest way... And they are looking for payments or information about your bank accounts, bitcoin account, credit cards or atm.... That's definitely a sigh of scam....
Report them immediately...

[newinbtc]

If you are talking about ICo then you are talking about Altcoin not abou bitcoins you are in wrong section..

To judge a scam ICO
Follow all the social programs and scan it properly everytime
check the website , search it when it created and when modifies last time , ? is data copies or not
you can try to find official number of investor from the telegram group talk and try to find about the project.
No one offers you 10x or 20x they are scams they will dump and run away

[Adnan Saleem]

 Well, the followings are the reasons for me to recognize a scam:

* The organization has no website and can not be located in Google.

* The email or requester asks for bank account information, credit card numbers, driver' license numbers, passport numbers, your mother's maiden name or other personal information.

* The email or caller advises that you have won a prize - but you did not enter any competition run by the prize promoters.

[MisterPrada]

The name of the company is listed on this website somewhere as a scam.
The email matches one of the definitions or formats on this website.
The organization has no website and can not be located in Google.
The email or requestor asks for bank account information, credit card numbers, driver's license numbers, passport numbers, your mother's maiden name or other personal information.
The email or caller advises that you have won a prize - but you did not enter any competition run by the prize promoters.
The email claims you won a lottery (we know of NO legal lottery that notifies winners by email)
The mail may be personally addressed to you but it has been posted using bulk mail - thousands of others around the world may have received the exact same notification. Especially true if you find an exact or similar email posted on this website.
The return address is a yahoo, hotmail, excite.com or other free email accounts. Legitimate companies can afford the roughly $100 per year that it costs to acquire and maintain a domain and related company email account.
The literature contains a lot of hype and exaggerations, but few specific details about costs, your obligations, how it works, etc.
The prize promoters ask for a fee (for administration, "processing", taxes, etc.) to be paid in advance. A legitimate lottery simply deducts that from the winnings!
The scheme offers bait prizes that, if they are real, are often substandard, over-priced, or falsely represented.  Or, as part of the prize you can purchase "exclusive items" which may also be over-priced or substandard.
To get your prize might require travel overseas at your own cost (and personal risk) to receive it.

[merlyn22]

for me i notice the site is scam if the site has a lot of promises like example invest now and make it double in 24hrs.... sometimes they post a lot of money to get our attention... sometimes i get email saying i won on raffle which i don't remember i join anything... and i always read the reviews

[ljm8888]

Tell you a trick. Money doesn't grow on tree. As long as you understand this sentence seriously. I think you can avoid more than 90% deception. A lot of people are being cheated because of reckless with greed! So just remember that, you'll have good luck.

[Nhebu]

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?

I remember last day when I participated the bounty campaign of an ICO. At the end of the token sale, the soft cap did not accumulate. It is a good and promising project but in the end, no token came from my wallet. Sad to say thay this day when cryptocurrency finally developing and popular. A lots of scams are existing, they are like viruses. Thank you for your advise, I will remind it till I invest.

[JohnHero]

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?

I have some YouTubers that I trust and recommend coins.
I also check the projects on ICObench, I can see reviews and ratings over there from different expert. Plus check the BitcoinTalk ANN and they website. You will learn a lot for there about the project and the team.

[AlexanderAnthony]

As a newbie I thank you for this thread because of right now there is a lot of scam going on in bitcoin. some of it are the fastest way to earn in bitcoin. so thank you for the ideas on how to recognize scam.

[olushakes]

Recognising scam does not have to be a rocket science or what ones needs a form of dictionary to get an explanation on. Its just simple as ABC.

A. Don't get greedy because that is he beginning of getting scammed.

B. When you get greedy, don't be in a hurry because in the process of waiting you might get clarification.

C. If B fails, go back to A and you are sure to be protected to aarge extent.

[khaled0111]

- A founder and a team are not open.

A project founder must be always motivated, but sometimes answering the same questions from curious people (not investors) becomes tiring and exhausting, that's why a good project should have a staff responsible for comunicating with potential customers.

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

Marketing will attract more investors, big projects invest large amount of money to reach as many customers as possible.

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

Some projects require anonymity. We don't know who Satoshi Nakamoto is but we all use Bitcoin.

- They don't have a readymade product.

The product should be ready or at least at 50% to ensure developers seriousness.