How to known a Scam ICO

[RodeoX]

They are almost all scams. Why would the world need another coin at this point?

[1715091490]

1715091490

[PROTO_Token]

ducsakun the key is research

Don't expect an easy return.  To be successful at any investment strategy will take consistent effort.

I think all the popular points of note are listed above.

Here are a few more.

If you look at most ICOs, the concepts are really shit...so be careful.

• Do your research on the technology's viability in the market
• Make sure the funding is relative to the amount of funds necessary to make the project work
• Look for projects that really have something unique and necessary for the current space (HINT: if you're paying attention, there are a lot of problems to solve)

And there should be one great idea in ICO which is different from other ICOs, coins or tokens

I agree with ceferov, but add the caveat there are projects coming with more than (1) great idea, have an adoption strategy, and a great business model (very important).

Look for the projects that can revolutionize cryptocurrencies adoption and market acceptance.

[Rastafarian]

To determine or fish out a scam ICO is not easy to deal with. There are certain criteria I personally look at to check whether the ICO is a scam or a real one. Let me share a few with you.
Firstly, consider the developers of the ICO. Are the developers lacking individuality, distinction, or recognizability?
Secondly, check for the goals of the project. Most of the time, they do not have realistic goals about the project being launched. You may know this by reading their whitepaper.

[caudalmar]

it's good to do your personal due diligence of the ICO company - know their team, background, exposure and all. Read the whitepaper, as in read every detail of it.  Be careful when checking websites and other platforms because of the rampant phishing attacks of scammers.  They take advantage of the opportunities.  Sometimes, even is an ICO company is good, it is attacked by scammers, thus leaving their company and investors hurt in the end.  So be very vigilant. 

[INBOT]

Adding to what people have already said:

- Always look signs like is there typos or false information on their website
- Ask the founders and devs to contact you in Linkedin --> this is very good because if they are not who they say they are they cannot do this!
- You can ask for a video call to confirm identity
- Buying in ICO or in exchange: If you believe in the project after all of your research you should check their private sale and pre-ICO, there is usually discount or bonus tokens for early adaptors. So it really pays off investing in early stage because you might get a really good deal!

Be safe and do your research   

[wiser]

People have mentioned looking over the website and whitepaper for obvious typos, bad grammar, etc., and that is a good start. Keep in mind, however, that having a clean and slick looking website and whitepaper is by no means a guarantee of anything. It's very easy to throw a few hundred dollars at a good website with edited content. It doesn't cost much more to come up with cool looking graphics. It is far more difficult to do the real world work it takes to actually deliver on the concept presented. Before you invest, you need to satisfactorily answer the question: Can they deliver?

Also, don't assume you know how to do due diligence if you've never successfully invested before. Look it up and learn what it is and practice looking over financial statements and such. Actually, you could eliminate most ICOs by simply contacting the team and requesting a financial statement of past earnings and expenses. Even if you don't know how to read it, ask for it. Most are unable to even produce that basic bit of documentation, which is why they are trying to bypass the ordinary process of fundraising for their idea in the first place.

[Brightcrypto]

I don't actually know, but many ICO I have come across is real and them keep their word.

[anatolykarpov]

- Check the team members deeply.
- Check the token metrics that how much % bonus did they distribute on their priv or pre sale
- Chech if those tokens locked
- Check how much token will team get after ICO.
- Check telegram channels and chat with admins and ask them something to get general idea.

[Cryptouda]

ICO is the most profitable investment in the crypto space. It is very difficult to select good ico among thousand of scam icos.

Before invest do a personal research on bellow facts regarding particular ico.

* Project Idea.
* The project team and timeline
* Project members expertise and reputation of the advisory board.
* Whitepaper
* Community support
* social  profiles

[Taner]

When Centra started its project, many people suspect them of scam, because first was never posted information about the team. In the end, and so it happened

[Duy Alvis]

The Developers Are Anonymous, Their website are too simple or just a copied version of some alike project. Look at the community'sattitude toward it. Read the whitepaper carefully, and it could indicate the lack of creativity of Developers if there're so many duplicated part . You should find the result of project on google, visit websites that specialized on rating ICO

[jatuhtin]

me myself still learn this stuff a lot. thanks for sharing so much info about how to know a scam ico that has potential to be.

[yourEvil]

Please tell me how to known a scam ICO to protect myself
BTW now i should buy ICO coin or buy coin on exchange?
Thank so much

Read their white paper and look at their team. A good team with a good project will appear in public, hold various presentations, conferences and so on, but scammers do not exactly do it.

[lynx_]

I think one of the possible ways to find out is to ask bounty hunters! If the ICO has a system of bounty and timely accrual of stacks and are paid, then this is at least some kind of a sign of a normal ICO! But it is not exactly !

[masterofnone78]

you definitely have to check the project's website, whitepaper and team (profiles on LinkedIn, Facebook or Twitter), evaluate the progress of project and verify if the founders are fulfilling their plans/promises from a roadmap.

[ChampionsoftheChain]

I don't want to regurgitate everything that has been said so far since it is all mostly sound advise.  I would like to add that numerous AMA's in Discord or Reddit go a long way to ask relevant questions to the developers as well as seeing if their dedication to the road map is true and on pace.  To many projects have fallen behind due to scams, development disagreements, and other various issues that cause a project to fall flat on its face and the investors footing the bill.

[taeoshong]

The most scam ico of all time is swissborg...

my brother is stripped up to 91percent..

[babyaia]

This topic can help me a lot so that i will not commit/avoid the same error in joining a scam ICO.Thank you for the infos suggestions and recommendations.

[Woterry]

The first thing you would notice if ICOs are scam if your developers, managers, and directors are all anonymous. Sometimes it’s just the developers who are anonymous and not the managers. But either way, why keep yourselves invisible to the people if you’re just helping them and offering them a job right? Past projects as well, look at the history of developers and the campaign itself.

[margarita_free]

First time, you must see at the site.
Information can be maximum useful for all people and very understanding for you.
Then, you must read whitepaper. For example, it could be really
good whitepaper, with usual wp blocks, big document, with maximum technical information.

Than, it could be good command in this ICO, with real profiles and expirience (with linkedin links, realised projects)

So, i saw some more:
1) Firstly, ICO muct have good assessments in sites with ICO reviews
2) Secondly, you must find theme about project on BTCtalk, and see, who is advisers, helpers, what project means, etc
3) Thirdly, you must find coin/token of that project at the coinmarketcap.com (where is listing, how much it can cost)
4) if this all is okay, you can see their TG chat, for better understanding service/time giving answers on your questions.

Of course, there is not magic pill, if this ICO will grow, or not.
but, first stepes could give you safety from scam.
Wish you good luck!