How to known a Scam ICO

[rolerVX]

Hard to avoid, here is some tips.

3 Ways to Identify an ICO Scam:
1. The Developers Are Anonymous
The first and most blatant sign of an ICO scam is that the token’s developers are anonymous or otherwise-unknown.
2. The Token Does Not Have a Clear Use Case
Another sign of an ICO scam is that the developers are unable to clearly articulate a valid use case for the token.
3. The Whitepaper Sets Unrealistic Goals
If the whitepaper sets an unrealistic development schedule, it either means the developers are using deceptive tactics to attract token buyers or they lack the necessary experience to give a sensible scope to the project. Either way, this does not bode well for the success of the project and its corresponding token.

Full of learnings. Making clear and realistic form of whitepaper is one of the bases that the ICO is not a scam. We can rely on that by being knowledgeable.

[RodeoX]

Because almost all ICOs are scams you basically already know.

[AngryToken]

Check their white paper to read about their project and you can decide whether you think it is a good one or not. You can also google the ico name+scam and see what people have said about it and their reviews and if they have invested. A lot of the icos will have people saying its scams but its not always true, so make sure you read for yourself and study their project and decide!

[atariguy]

Look on their transparency and developers, they must not be anon

[Turagsoy02]

Few Points We Can check;
01.Team should be visible
02.There should be Social Media Presence like Telegram, Discord, Twitter and Facebook And It should be active
03.Look White paper and Roadmap for Project and Check their GitHub for any Written code
04.Check It is available Token allocation for AirDrops, Bounties, Teams and Product development and Marketing

Consider these before basic investment decision

Thanks !! really help

[HolderLoo]

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

99,9% ICO's are scam's
How to know its real deal?
1. The Developers Are Anonymous
2. The Token Does Not Have a Clear Use Case
3. The Whitepaper Sets Unrealistic Goals
Don't waste ur time in ICO's

Yes, great information for me.

[wealthypioneers]

i believe not having a prototype is also a red flag

[Asian_Dynasty]

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

Learn information about idea,team, mentors.

[paxmao]

Hard to avoid, here is some tips.

3 Ways to Identify an ICO Scam:
1. The Developers Are Anonymous
The first and most blatant sign of an ICO scam is that the token’s developers are anonymous or otherwise-unknown.
2. The Token Does Not Have a Clear Use Case
Another sign of an ICO scam is that the developers are unable to clearly articulate a valid use case for the token.
3. The Whitepaper Sets Unrealistic Goals
If the whitepaper sets an unrealistic development schedule, it either means the developers are using deceptive tactics to attract token buyers or they lack the necessary experience to give a sensible scope to the project. Either way, this does not bode well for the success of the project and its corresponding token.

Full of learnings. Making clear and realistic form of whitepaper is one of the bases that the ICO is not a scam. We can rely on that by being knowledgeable.

You are mixing two things that are completely different: 1 - A Scam> something specifically designed to rob. 2 - A bad business> A business that has no chance of success.

These are different things and can be detected with different tests.

[upekhaanthony]

Before going to buy from any ICO, you can consider bellow facts,

* Unique solution for the existing problem or future problem.
* Advisory board
* Strong team.
* Partnerships with reputed company
* Strong planning and marketing ability
* Technically achievable targets

Do you own research before investing in any ICO or project.

I recommend Daneel ICO. Because it full fill all above factors 100%.

Daneel is AI assistance for digital arrest management powered by IBM Watson AI system. Daneel has a solid partnership with IBM and this makes Daneel project more stable and reputed.

if you are interested, visit: https://daneel.io/
           

[cuteness]

It is hard to determine a legitimate ico though because some of them are scam.Before investing to ico i think it is wise to read thier plan first or see if there are many people that invested on it proofs are also necessary to be aware of their legitimacy.

[fot99961]

To learn more ico evaluation criteria, such as team strength, white papers, etc., more importantly, to learn the knowledge of the blockchain.

[Dr.Lecter]

from my point of view, you should read their whitepaper, take a look at their team and try to know about their vision. 

[reck1ess]

Finding out if an ICO is a scam or not is very easy. You need to make research in-depth about the developers behind working. If they're anonymous or not credible enough, there's a bigger probability that the ICO is a scam. Also check their social media sites it should be active always and there must be people who are actively engaging to their social media websites. Newbies found it very hard finding out if the ICO is a scam or not but time goes by you'll get used to it and it will just like an instinct to you to find out if the ICO is a scam or not.

[Dudeperfect]

The first element that you should check is the transparency of developer. A few months, ago I made a mistake by contributing to the ICO translation program without checking the background of the developer and developer ran away with the entire amount he generated through ICO so it was a scam. There are some other elements too but this is the prime element to determine the authenticity of the project. I would recommend you to spend as much as time in learning and understanding from the experiences of other members.

[taeewo]

The  first thing i considered before putting my money on any i c o is the profile of the devoloper team behind the project if its anonymous then i wont be comfortable in investing.... Have you checked medichain, its one of the best i c o you need to invest on, just try to read about it an you will be convinced to invest because of the real use case...

[BroganBloodstone]

Hard to avoid, here is some tips.

3 Ways to Identify an ICO Scam:
1. The Developers Are Anonymous
The first and most blatant sign of an ICO scam is that the token’s developers are anonymous or otherwise-unknown.
2. The Token Does Not Have a Clear Use Case
Another sign of an ICO scam is that the developers are unable to clearly articulate a valid use case for the token.
3. The Whitepaper Sets Unrealistic Goals
If the whitepaper sets an unrealistic development schedule, it either means the developers are using deceptive tactics to attract token buyers or they lack the necessary experience to give a sensible scope to the project. Either way, this does not bode well for the success of the project and its corresponding token.

Well said. Would give you a merit if I had one available to give.

[Harris Pay]

How to identify a good or bad ICO project. Pham Anh Quang August 25, 2017
What is a good ICO project?

This depends on each particular project, and the whole team behind that project. Selecting a good ICO is an extremely lucky option for investors.

A good example is Storjcoin. Storjcoins are the tokens, which are released by Storj.io in its ICO. Storj.io is a distributed cloud storage application, and when its main product is released, users will be able to spend Storjcoins on the storage space, in addition to being able to trade them like any other. other coin.

Another prominent example is Ethereum, which was sold at a starting price of only 0.005 BTC, and now you can see its growth potential. Ethereum is a platform for building decentralized applications of all kinds. The cards of the company called Ethers are actively used to maintain the operation of the applications that were built on the smart contract platform.

In theory, the ICO code can be used for anything, similar to Ethereum. The scope of use may be dependent on the scope of the project.

To choose a good ICO project we need to find out about the coin
For example you can go to coinmarketcap.com to find out, then you view its webisite to know about the value of coin. The point in it should be clear blockchain, have cold storage as possible.

How to spot a bad ICO?

There are some signs of a potentially fraudulent ICO: anonymous developers, lack of wallet and unclear or unrealistic goals. The development team has no outstanding biography, or ghost biography.

The cryptocurrency community has had to face some ICO scams in the past few years. Most of these campaigns will be flagged red, and by detecting you can avoid potential companies:

The developers of the project are either unknown or not known to the community. If the people behind an ICO are not very reputable, the chances of them operating a scam ICO is quite large.

No donation wallet for donations. If all the contributions of donors are concentrated in the hands of the project owner, there is nothing to prevent them from running away with money.

Unrealistic / ambiguous goals. When a project has no clear road map, in fact, it means that the people behind it do not know what they are doing, preferably. At worst, they do not really care because they do not really do anything.

Lack of transparency. Today, showing the stages being performed in your project to the audience is considered an industry standard in crypto. If developers do not release code, demo / beta versions of their product, behind-the-scenes video or other types of reports on their progress, maybe they have nothing to show.

If you have found an ICO campaign that displays any of the above, and especially any combination thereof, it is best to avoid contributing money to it.

[crypto 077]

1. The Developers Are Anonymous
The first and most blatant sign of an ICO scam is that the token’s developers are anonymous or otherwise-unknown. While it’s true that the creator of Bitcoin

2. The Token Does Not Have a Clear Use Case
Another sign of an ICO scam is that the developers are unable to clearly articulate a valid use case for the token. The token should serve a key purpose in the startup’s platform. If it does not, the token will not sustain its value over the long-term. Related to this problem are tokens that advertise themselves merely as digital currencies without offering any real innovations or improvements upon existing cryptocurrency technology.

3. The Whitepaper Sets Unrealistic Goals
To avoid falling prey to ICO scams, token buyers should educate themselves and conduct due diligence before deciding to contribute to a project. Strategic Coin offers numerous resources to assist token buyers with their research, including token analysis reports and exclusive interviews with startups conducting token generation events.

[eijikaido11]

A obvious scam project is lack of open profiles the developers are Anonymous, no technical details in the whitepaper, unrealistic goals and missing code repository.