How to recognize scam

[zeakqui]

To distinguish misrepresentation, don't race to contribute. Be sufficiently tolerant to investigate the undertaking, look at a few ICO audit spreadsheets, look at what the venture is, insights about the group and past reputation, Browse the web based life stage and focus on financial specialists ' remarks. Try not to contribute construct with respect to adherents via web-based networking media stage, contribute in light of the fact that you have done your definite research.

[jefcasidy]

For me the way I recognize a scam coin is that I normally go to google and search for the project and their team, If I didn't see a video or pictures of the CEO of the project talking about the project, or having an events been attended then I know the project is a pure scam, because project teams doesn't hide their face, they attend events to speak about their projects.

[weblouartisan]

You are looking for good project and ignore scam project, you have to focus on project, which type project and member. How they answer your question (about project), how active they are and who are they???. How they show up or not in different social network as they promised. Right now scam project are many, so you have to keep an eye open.

we need to be active in the conversation so we know how good their project and how they response the question from the people. following their news is a good solution for you so you can know what exactly they doing with their project and don't forget to read their whitepaper as we can see what is their purpose in the long-term. many things that we should do before we can know the project is a scam or not so we can choose the right project to invest.

Before investing a huge amount, you can always check the white paper if their platform will be successful or not in the future, in this way you can avoid investing into a scam campaigns.

[Primal6666]

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?

Personally for me, the best indicator of the seriousness of the project is the interest in it from major campaigns side, and i'm talking not only about investment funds, but also about partnerships with other good(famous) projects. Your method is undoubtedly good, but there is one small, BUT,  not always a little-known founder of a start-up is bad, you still need to give people without experience the chance to acquire it. Of course, it is not worth investing huge funds in such projects.

[dangbinhminh]

You must check if it has a pysical asset or a guarantee that when you invest on it you will earn. A good ICO does not depend on the volatility to be successful there must be a income generating programs behind to sustain the program.

[SSend3r]

You just have to check profiles on developments in social networks, facebook, linkedin, Vkontakte etc. In many times if it is a scam project they will be fake, also you should ask for more details about the product.

[5stringer]

I do concede to the straightforwardness part. On the off chance that financial specialists ask them on wire, they ought to give appropriate answers as opposed to stating they don't know. They ought to likewise not restricted who censure them. In the event that they can answer those assertions then they ought not fear those individuals.

[jwelkem]

you should enlist the occasion that it's a physical asset or partner degree confirmation that after you contribute subsequently you may get. a decent ICO doesn't rely upon the eccentrics to be productive there ought to be a wage fabricating programs behind to help the program. Likewise, in conclusion, trust your impulse and direction the experts.

[maiconle88]

Contact the founders and ask them detailly about the ICO.
Then, feel by your self.

[seanjoseph]

It is not easy to detect scam.
You need to do some research about the project before you join in any ICO.
You have to check their product,  the team profile and their social media.

[triplef]

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 wanted to say easy, bro. But unfortunately sometimes it is not so easy and there are a lot of people, who got scamed. Hope, your list will help people to get protected from scams.

[littleheart]

In the event that you will contribute onpal, to perceive trick know the sources where they motivate salary to pay your advantage. In the event that they are putting forth to much sum consequently, don't contribute to that sort of onpal. They simply take your speculation without giving your advantage.

[zoird]

- 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.

I saw a project where the finished product was not ready, but investors get a lot of profit. And I've seen projects with a finished product, whose teams have deceived their investors. Therefore, this is not an exact criterion.

[bebinonaa]

I depend on straightforwardness of the group with respect to on the task so I can stay away from the uncertainty. When I'm somewhat wary I don't keep on supporting ICO. I additionally request the feelings of those with us or companions here in the discussion that has for quite some time been in cryptographic money. It is smarter to have the reason and lawfulness of the venture. There are activities or ICOs that are at present have SEC enrollment archives, I joined their ICO.

[last7minutes]

You just have to check profiles on developments in social networks, facebook, linkedin, Vkontakte etc. In many times if it is a scam project they will be fake, also you should ask for more details about the product.

You're right. Now there are a lot of ICO with fake teams. Very good when the team participates in various crypto currency events than shows the seriousness of their intentions.

[Bitlife81]

I rely on transparency of the team regarding on the project so I can avoid the doubt. When I'm a bit skeptical I do not continue to support ICO. I also ask for the opinions of those with us or friends here in the forum that has long been in cryptocurrency. It is better to have the excuse and legality of the project.

[lutcor]

The instructions in this thread are really good, but still I think that at best it's necessary to try very hard to protect yourself from what is called scam, today people have learned to do many things, but with scam recognition of projects everything is bad.

[bitcoinpeople1]

There is no specific way to recognize scams, I think. They don't go about with tags saying that they are scams. One can only be very careful when making decisions to invest in a project. There are some basic things you might be asked to look out for, like the team behind the project and the whitepaper. If the team members are reliable and the whitpaper good enough, then maybe it is worth investing in.

[Dugwulim]

you should enroll the occasion that it's a physical asset or partner degree affirmation that after you contribute subsequently you may get. a decent ICO doesn't rely upon the unconventionality to be productive there ought to be a wage fabricating programs behind to help the program. Likewise, ultimately, trust your intuition and direction the pros.

[Dancing_Lion]

To find scams, you need not some super-techniques, machine learning and working with big data (although this, of course, would be useful for everyone), but diligence, attention to detail and time spent on research of ICO projects in proportion to investments.