How to check if ICO is scam or not?

[cryptonerd42]

Hey guys, I'm new to the whole ICO world, and BTCtalk as well. I've been reading about a lot of scammy ICOs that take people's money and run away. I'm looking to invest in a couple of ICOs but have no way of knowing if they are good or not. Can anyone tell me how I can go about doing this without losing any money? 

[1714831894]

1714831894

[1714831894]

1714831894

[GBCrypto1]

There isn't a sure shot way of knowing whether an ICO is legit or not. But you can definitely follow these things:

1) See if they have a nice and technically sound whitepaper. Whitepaper says a lot about an ICO.
2) Do a background check on the team. If they aren't visible on the internet, they have things to hide.
3) If an ICO has unrealistic expectations out of their token offerings, it means they haven't done their research properly. Shows a lack of dedication and planning.
4) See the advisory board. Big people means good ICO. No big shot advisor would want to be seen as a scammer.

For example, a new ICO is coming up. I stumbled upon them through some site. These guys are trying to make good use of blockchain. If you look at their site, it's clean and clear. Their whitepaper is very descriptive. Also, all the founders can be found on the net. It's a good initiative. Check 'em out here - http://enkidu.io/

[VelVenueva]

As the person the top of me said, there isn't a sure way to define is any ICO is scam or not. But sure you can lower the risk by researching about them. Like, you can check the team is there any real profile anywhere, LinkedIn, Facebook, Twitter. Is the company public or they are below the radar, do they have massive posts and advertising and etc. If they are trying to scam someone, they wont be public

[Lerikaweb]

Lots of words cam be said about team,  road map,  plan and so on.  What I'm paying much attention to is how much money an ICO  wants to gain.  If it is too much for their product,  then I stay away.

[EdfuJihad]

Hey guys, I'm new to the whole ICO world, and BTCtalk as well. I've been reading about a lot of scammy ICOs that take people's money and run away. I'm looking to invest in a couple of ICOs but have no way of knowing if they are good or not. Can anyone tell me how I can go about doing this without losing any money? 

The key is reading in the whitepaper background of the team and the project plans. Read about every detail. You can tell whether it is a scam. Invest in ICOs like NTOK the one i'm campaigning for.

[shahani]

We cannot directly notice if certain business we entered is a scam, we can notice only in the future transactions, for example if we made a certain transactions and the persons you made a transactions are totally missing after you've done a business payments. There are some few tips on how to know scammers, try to view their business links and profile.

[winspiral]

We can not know in advance if an ICO is scam or not scam because often to run successfully the project it lasts over 1 year.

[noictib]

Hey guys, I'm new to the whole ICO world, and BTCtalk as well. I've been reading about a lot of scammy ICOs that take people's money and run away. I'm looking to invest in a couple of ICOs but have no way of knowing if they are good or not. Can anyone tell me how I can go about doing this without losing any money? 

I don't think that it is easy to identify whether a particular ICO is scam or legit.  In actual to be a ICO scam or legit there may be two things . May be the ICO owner may collect money and run away and may be in the starting the mentilty of the team is to scam but due to high collection they they changed Thier mind and are thinking to list Thier coin with the help of money paper at the exchange .
But here now in current times scam from ICOs now decreasing and most of the ICOs are launching Thier coins at the exchange .
Here currently in my opinion the best thing is that to analysis yourself and also make discussion at better better paltforms to make better discussion about that ICO to make sure whether is anything wrong in the ICO or not .

[orangeferrari3]

Most of it was said by the first person who commented, GBCrypto1. One more thing you could add to your list is if they are openly promoting themselves. More promotion means more people looking at you. Enkidu is currently not so famous. I did a search on these guys. They were very few places they were listed on. So, you can't be sure if they are good. You can try putting small amounts of money in. And later you can increase your investments if it goes well. I usually do this for most ICOs.

[winspiral]

Most of it was said by the first person who commented, GBCrypto1. One more thing you could add to your list is if they are openly promoting themselves. More promotion means more people looking at you. Enkidu is currently not so famous. I did a search on these guys. They were very few places they were listed on. So, you can't be sure if they are good. You can try putting small amounts of money in. And later you can increase your investments if it goes well. I usually do this for most ICOs.

You are righ...
when people doubt about me and my launched ICO I suggest them to search "winspiral" on google...so they can see that i'm not from the last rain...

[Ros-In]

We cant know an ICO scam or not for sure. But you can checks the team for example, is the team is real person or not. Try to ceck they linkedin page twitter page, official website etc.

[SeanL9941]

Check carefully their documentation and promises... look at the team. Weigh up the promises and feasibility...

[Maian]

Hey guys, I'm new to the whole ICO world, and BTCtalk as well. I've been reading about a lot of scammy ICOs that take people's money and run away. I'm looking to invest in a couple of ICOs but have no way of knowing if they are good or not. Can anyone tell me how I can go about doing this without losing any money? 

The key for that is read and understand the white paper and choose the ico that you invest to avoid scam.

[Dany44]

There were useful tips on How to Evaluate ICOs

[michael shikany]

Many times it's hard to tell whether an ICO project is a hoax.
I think you can judge by the group number of telegram of this ICO project, and then check whether the team has a bad record, whether the ICO project is open source.

[Chiyoko]

Hey guys, I'm new to the whole ICO world, and BTCtalk as well. I've been reading about a lot of scammy ICOs that take people's money and run away. I'm looking to invest in a couple of ICOs but have no way of knowing if they are good or not. Can anyone tell me how I can go about doing this without losing any money? 

If you are good to invest in any ico you will know if the ico is scam or not just read very well and be wise to chooser.

[Akiko]

Hey guys, I'm new to the whole ICO world, and BTCtalk as well. I've been reading about a lot of scammy ICOs that take people's money and run away. I'm looking to invest in a couple of ICOs but have no way of knowing if they are good or not. Can anyone tell me how I can go about doing this without losing any money? 

If you see ico's dont invest if you dont read, before you invest read it the white paper look if how many people are included in the project so that you will see if the ico is good or not.

[fabskie21]

Best to check the information about the whole team, if they are real people and that they have the experience that is relevant to the project they are into. Also, investigate the concept and technicality of the project, if there is a market for that kind and if its not a clone or copy of previous similar projects. You have to dig deeper if you really want to secure your investment.

[Singwala]

Investing in ICOs is one of the most difficult decisions. Of course we know that the money we earn depends on it. So should we really be critical to our joining the ICO. My ground to know it is their transparency. And how many people joined their ICO

[batang_bitcoin]

Hey guys, I'm new to the whole ICO world, and BTCtalk as well. I've been reading about a lot of scammy ICOs that take people's money and run away. I'm looking to invest in a couple of ICOs but have no way of knowing if they are good or not. Can anyone tell me how I can go about doing this without losing any money? 

Welcome to the forum. Read those ICO's very well, nowadays its hard to know what are the legit and real ICO's but you need to research and know almost everything about that ICO that gets your interest. That's the only thing that you do and don't be shy of asking questions about that ICO and get others opinion about it although not all does have that feeling of certainty about ICO's.