How to recognize scam

[lepbagong]

Sometimes it all goes well according to the procedures that have been done, the way of giving information sometimes has been running well and it seems all been very convincing, but at the end of the ICO finished everything changed, because many causes.
eventually arise that becomes a scam ....... so actually the luck factor in all this is also very dominant, how do you think?

[Yamifoud]

Sometimes it all goes well according to the procedures that have been done, the way of giving information sometimes has been running well and it seems all been very convincing, but at the end of the ICO finished everything changed, because many causes.
eventually arise that becomes a scam ....... so actually the luck factor in all this is also very dominant, how do you think?

Mostly we may know scam projects  after crowdsale, it suddenly  disappear and never give their promises from bounty participants and investors. Of course,  we can see how convincing  they are and how good is their project but they just seek money for their own interest.

[Copulative]

My system to know whether a specific thing is a trick is I generally request a testament , an authorized or a proof of authenticity since they will misdirect you to draw in and loan a cash with the most pleasant words and bother you for their organization. However, the best thing to know whether a thing is a trick is you comprehend what to have when they are putting forth, the most grounded weapon for trick is a profound learning.

[aleksandra_kickcity]

Hello ... this is a very interesting topic for me , in my opinion to be able to tell which one is genuine or fake can be seen from the mechanism of how to work the project through the project site, can also check from whitepaper ( to explain the mission vision of a coin and not just a mission vision also including a design) , and do not forget to see his project Team Work and check who's the media supporting this project. That's all I think, to avoid fake project scams.

True. A whitepaper is very important. Without a good whitepaper a project is worthless

[laravuemaster]

To recognize scam, do not be in a hurry to invest, Be patient enough to do you research about the project, check through several ICO review spreadsheet, check trhough about what the project is all about, details about the team and there past track record. Check through there social media platform and observe comment from investors. Do not invest base on followers on social media platform, invest because you have done your detailed research.

In my own opinion, there is no way for you to recognize a scam unless this person or site you are logging in wants your private key to be entered but in joining ico's, there is no way to determine if they will pay at the end of bounty campaign or not.

[cryptohunterSL]

If the email, phone call, prize or lottery notification has any of the following elements, we strongly suggest it is probably a fraud and you do not respond to it. Below are some general tips to recognize scams.  Detailed information can be found from the menu buttons at left:

    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.

[seven2smoke1]

To recognize scam, do not be in a hurry to invest, Be patient enough to do you research about the project, check through several ICO review spreadsheet, check trhough about what the project is all about, details about the team and there past track record. Check through there social media platform and observe comment from investors. Do not invest base on followers on social media platform, invest because you have done your detailed research.

That's right, I think if you are smart enough, you can recognize if the ICO is scam or not. There are a lot of factors, from them you can know if the project is legit and good or the inverse. People should read carefully the purpose of the project and do some research about it, I mean about the team, people reviews, the look of their website, the professional side,... and many other things, then you can have a better idea about it and decide if you will invest and trust in it or not.

[AnnaGeraMsk]

An excellent topic, the team at ICO is very large and the main contribution to the success of the event! The product is also important, but the team is more successful !!!

[thaitea.deluxe]

You must go through their project and team.
read their whitepaper and website. not the whole whitepaper, but take a note the important things.
research their team. find out about it with details.

[liamnorthcoins]

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 this is very informative. I'll keep this in mind!

[aleksandra_kickcity]

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 this is very informative. I'll keep this in mind!

You are welcome. I am glad it is useful for you =)

[piratcoin]

you should check in the event that it has a physical resource or an assurance that when you contribute on it you will acquire. A decent ICO does not rely upon the unpredictability to be fruitful there must be a wage producing programs behind to support the program. Also, in conclusion, believe your instinct and counsel the specialists.

[BOOYAH787]

I look at the the amount of trades completed and amount of business.  Repuatation as well

[aleksandra_kickcity]

I look at the the amount of trades completed and amount of business.  Repuatation as well

Reputation is one of the most important factors for a company

[akulov]

They say that the first thought is always correct. All the signs of fraud, the harsh ones you listed, have a place to be. Business is risk, investment is also a risk, if there is no doubt, then act!

[aleksandra_kickcity]

They say that the first thought is always correct. All the signs of fraud, the harsh ones you listed, have a place to be. Business is risk, investment is also a risk, if there is no doubt, then act!

True, it is a risk and you can never be sure. However, you have to check everything out carefully

[ferall]

Look for the Masternode sale. All those coins are basically scams.

And look for threads full of newbies praising a coin or ico.

[EL-NIDO]

Well it is better to invest in a company/project that already has a function or working product. Most of the ICO got only a nice whitepaper and idea. Search also about the persons in the team and discuss it in the Bitcointalk forum.

[inillo]

Some scams are very sophisticated and all the profiles and everything look realistic and good. Some other are just pure meaningless crap that lead nowhere and anyone can spot them from miles.

[cobak pole]

usually a project that threatened the scam dev or moderator in the project can not be asked for more details and this I think often happens,
so beware of choosing a project!