How to recognize scam

[aleksandra_kickcity]

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 an ICO is to make money if the project has a lot of promise it could all well be a good idea. If the founders won't talk answer questions then that has to raise doubts.

I agree with you. It must be careful in choosing the project we want to follow. We should look at all aspects of the project if it is doubtful it is better not to join. But if you convince you please join the project.

There should be no doubt if we analyze correctly.
White paper is the first proof we read and we have, how the project is planned and the roadmap is implemented. In addition we can see a serious team there. I'm sure you'll find it.

true. everything should be analyzed carefully

[cryptoalfs76]

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?

Will your experience to determine that ICO is scam is great,and i really appreciate it,because of this all you said  i learn some of your few tips of how to know that developers is scam platform.actually in my own i only know if that coin offering is ponzi or fraud if  that platform is not coming from this bitcoin forum community,because i believe that all ICO going inside in this bitcoin talk  community is genuine and filtered.

[monster2]

you only know if a scam is something if they say that x10 will earn your money when you invest in the site but if that's just right and definitely legit.

[12tribes]

There's not exactly a rule of thumb to identifying a scam, however, you should watch out for some unrealistic profits and promises from the promoters...... Quite a number of successful ICO's initially looked and sounded like a scam. the name Neo immediately calls to mind the film "Matrix"and that was going to be funny.....but they are on the market and doing well. Like someone note that it is usually safer(to an extent) to be sure that much underground findings are correct.... All the best out there.

[gjtnwls1]

It is really hard to recognize scam project. Nowadays everyone try so hard to get your money. But if it is too good to be true, be cautious. We need to protect ourselves. 

[boynegro]

Well I figured is better to invest in a company that already has some kind of establishment or function going.  Investing will always have risk, just because a business fails does not mean it was a scam.  Look soon Ill be starting an ICO maybe,  The thing with these ICO, They take to much money and credit to themselves.  Look at Spectrocoin, they really need that much money?  There time frame is fine but that amount of money is a question.  I dont see that market very lucrative at this point to give them that much funding.  I have a product that is worth more then they are asking but I will not ask that much, because more money you get, can arrive more problems as well.

Scams are schemes to con you out of your money. They can arrive by post, phone call, text message or email or a scammer may turn up at your home.

[waskaplung]

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?

Phishing is an identity-theft scam that can use emails and websites to trick people into giving out personal information, such as credit card numbers, usernames and etc.

[donpepot]

Well I figured is better to invest in a company that already has some kind of establishment or function going.  Investing will always have risk, just because a business fails does not mean it was a scam.  Look soon Ill be starting an ICO maybe,  The thing with these ICO, They take to much money and credit to themselves.  Look at Spectrocoin, they really need that much money?  There time frame is fine but that amount of money is a question.  I dont see that market very lucrative at this point to give them that much funding.  I have a product that is worth more then they are asking but I will not ask that much, because more money you get, can arrive more problems as well.

Cyber crimes a quickly growing problem. Don't passively let yourself become a victim. Here's how to spot and avoid fake, scam or fraudulent websites.

[feny.blackpink]

Thanks mate, i got inspiration about how to recognize scam after read your thread.
The thing i do is, when choosing the ICO, you must read and learn about their project carefully.

[aleksandra_kickcity]

Thanks mate, i got inspiration about how to recognize scam after read your thread.
The thing i do is, when choosing the ICO, you must read and learn about their project carefully.

you are welcome =)

[aleksej.rozhkov]

Well, in the first place, the exact analysis of the site would not hurt, look at the work of managers, the table is updated. And in general, how much of what they promise.

[Dudeperfect]

Transparency is the core element that I check while determining the authenticity of any ICO or investment option. A few months ago I made a mistake by contributing to a translation process of one ICO ann topic without checking the background of the developer, I received the payment during the ICO in his coins but soon the developer vanished with his website and everything, I didn't lose my money but it was the worst experience for me still, I learn from it and I literally ignore every project where there is no transparency irrespective of potential of the same.

[angelakrasnova]

Scammers they can be everywhere and everywhere. Going out of the house and going to the store you sell a 3 times more expensive thing that is sold at a purchase price of a penny. The same principle here, everything is too good, then not everything will be a reality.

[aleksandra_kickcity]

Scammers they can be everywhere and everywhere. Going out of the house and going to the store you sell a 3 times more expensive thing that is sold at a purchase price of a penny. The same principle here, everything is too good, then not everything will be a reality.

True, a project should look real

[BlasterS]

In recognizing if it is scam, asks some legal document to the group of people where they offer their product.
Don't invest to the company where the Founder or the creator of that group is hiding their real image or personality because absolutely they are the scammers.

[Coinlover9]

The best way to check the team behind the icon.from there you can see if have done other projects or not.cgeck what's the aim of the project what they aim to achieve and how they are trying to achieve it.check the website and if you are still not satisfied wait for a few days to see the response of the others.. nowadays there are many projects so check it throughly and then decide.

[Nyenyepogi]

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?

My strategy to know if a certain thing is a scam is i always ask for a certificate , a licensed or a proof of legitimacy because they will deceive you to attract and lend a money with the nicest words and tease you for their company. But the greatest thing to know if a thing is a scam is you know what to have when they are offering, the strongest weapon for scam is a deep knowledge.

[PalindromemordnilaP]

If i have to investigate my own as the legibility of an ICO, then i will go directly to the group of people or team behind the ICO. If am convinced that all their personal information are correct, then i will check and read their whitepaper if what was written their are realistic overall. And lastly, i want to check if they have their project's source code available on github.

[Tambu]

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?

Thank you for this information dude! It really help. Because if we fall to a scam ICO it will not only suck our money but Time, Effort, emotion as well. And those three cannot cannot be back.

[michellee]

In recognizing if it is scam, asks some legal document to the group of people where they offer their product.
Don't invest to the company where the Founder or the creator of that group is hiding their real image or personality because absolutely they are the scammers.

I am not sure about this because as far I can see, many ICO give a real picture or maybe I cannot detect fake image for every people in the project. but this could be another option to detect the ICO is real or not and I think we can ask them about their project and what their vision with their project. I think if they are a good team, they will give information related to the project so people can know that there is a legit project and people could feel safe to join with them.