How do you know that new/existing ICO is not a scam?

[sandarajasmine]

As we know, currently they are many developer trying to do ICOs and some of them scam other people too. So how to identify these kinds of scams?

[1714179255]

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[integrap]

You should check if project whitepaper is unique or not. Also you should check team members. Another important thing is marketing. Generally promising projects promote their project via different channels. Of course there is always risk to join ICO but you can lower risk by doing these things.

[Mometaskers]

Go check out their site and read the whitepaper there as well as all other info. A clumsily-written white paper would be a clue. A legit project should be easily tracked down. If you feel something is being omitted, then try to ask them in whatever channels they've made available. It's really a hit and miss. There were perfectly executed scams out there that duped a lot of people.

[GeorgeEden]

Well i have my own strategy that i use whent he time comes to advertise and also invest on an ICO. First of all you check the project as ALWAYS and then i do a very well research about the team and their past who they are and many stuff. And also you check how they work in the meanwhile.

[princesocapuyo]

telegram ico has a big company ehind it so it is not a sca,

[alex-nn]

I read Whitepaper to know the main ideas of ICO. If I like ideas I research each member of the ICO team: experience in linkedin, twitters, facebook etc. If good team and ideas = good ICO!

[UFO2018]

Scam ICO has no product, people are only talking the price of coin, ICO and dont answer your questions directly. A good ICO is like admins know what they are doing, they can tell you the content of whitepage, they have a clear future plan, and they have alpha or better product already.

[l10no]

The best way to find out, with us reading the whitepaper and then we can see who the person behind the project, if you want to join ICO I suggest you join the daneel project. ICO has been started on January 29 and has reached the softcap target. Please visit his website at www.daneel.io

[blocklancer8]

Usually i will read the information Shakespeare trough the project, besides that i will discuss which ICO is good with my sister the first hE succeeds in this bitcoin world

[haocoin]

First， look at the feasibility of their project, then read their white paper, go to their website to see, and all other information, but some scams are perfect imperceptible, the focus is to look at other people's comments, if someone cheated always tell everyone.

[siddartha1492]

Frankly speaking no one can say for sure if a particular ICO will be a scam or not. I have seen many promising ICOs go scam and some genuine projects getting very less attention. But yes, the general formula to decrease your chances of investing in a scam is same.

First of all, read the short description and analyze if the project is unique, is there really a need of the product or service they are offering. If the description is mainly about token price increase, trading and so on, then that's a good sign that the ICO will be a scam. And if the project is focused mainly on their concept then read the whitepaper. Whitepaper can be very boring, but just go through it and try to understand how will they work in case they get the funding. Try to research about their team, like contacting the team members on given social media accounts to verify. If the company claims to have some well known projects and companies as its partners, then verify that also. Many a times ICOs will claim to have partnership with Amazon, Google etc. whereas they are only using their hosting services!! So verify these things. Read about the project on sites like Cointelegram (not the sponsored one). Read the replies on their Bitcointalk topic. Are they answering difficult questions or ignoring it? Are they self moderating the topic or allowing open discussions? Are other members interested in their concept (not price)?

Go through all these things and you will know for yourself if you should invest in that ICO or not.

Of course if you are more of a technical person, then try to analyze if their technology is feasible or not, or is it just some science fiction stuff going on!!

[erickkyut]

You need to be vigilant. No one can say that a new or existing ICO is fake or a scam unless you make a thorough research about it. Read their whitepaper, maje some research about their developers and advisors. Some fake ICO are using picture of other people as their devlopers and advisors. You need to be very careful before you invest on it. You can also ask opinions of other investors.

[Gogochen]

In general, there are several points to note.
First, observe the ICO's white paper and technical route.
Second, the search team used to have a bad record of fraud.
Third, take a look at the number of telegram groups in the ICO project, and if people talk about being positive, the ICO should be profitable.

[caloriecoin]

As we know, currently they are many developer trying to do ICOs and some of them scam other people too. So how to identify these kinds of scams?

Check the founder's profile in LinkedIn. I got scammed by HOQU.io recently.

[VanKleiss]

As we know, currently they are many developer trying to do ICOs and some of them scam other people too. So how to identify these kinds of scams?

The first thing that you need to research or investigate is their team and not the project or whit paper because White paper and project do not scam but people do. Verify if they really are real person or if they really are involve in the project and not a stolen identity. Many scam ICO only  use stolen Identity and change its name. Project, white paper and roadmap is just a secondary after you verified that the credibility of the team is legit.

[JainaVsUther]

You can never be certain, some scams are well organized. The best bet is to read the whitepaper and check for any inconsistencies - is the English good? Does the project solve a unique problem that you understand? After that verify the LinkedIn of each team member and make sure they list the project as part of their current work.

[Rabbai89]

That's a great question that i would also like to be more educated on!

[Gogochen]

A lot of times you can't find anything through the white paper.
Because the white paper of many teams is quite elegant now,but  the ICO project is still a hoax.
I think the best way is to search for the previous degree of the team members, and many team members have serious fraud problems with their academic qualifications, so you need to be careful.

[electronicash]

this is becoming very hard these days, waves platform had thier own incubator which those ICO under their flagship will be cooked for a bit so they know its going to be legit. but for those using their own chain or on eth network, i guess its much harder. even when they say they have linkedin accounts, those are easily created to look legit. check the advisors of the team and verify whether those advisors are indeed part of the project.

[Btcvilla]

it's hard to tell the difference for now. however, you should keep investigating and investigating the ico you are currently following. experience and knowledge are helpful in terms of assessment. you need to use logic, if an ico and dev, get out of your logic. it means that the signs point to the bad.