Scam ICO checklist

[steve_rogers]

Hey crypto-buddies,
 I decided to create checklist for scam ICO´s

100% profitability - Guaranteed yield: any funds, ICO projects and investment platforms, that promise a stable interest are likely to be scammers. These are, as a rule, projects of cloud mining, casinos and projects related to binary options, as well as those where the sale of tokens is carried out according to the principles of net marketing: existing investors attract new ones. And, of course, the pyramids, in which old customers receive payments from the contributions of new customers, until the pyramid bursts ...

Celebrities: musicians, athletes, actors who can not know anything about the blockchain and the cryptowrold, and even more to be the guarantors of the fact that this is not a scam, seems exactly the opposite.. Celebrities are used to distract investors from the essence of the project, which is most likely dummy.

Team analysis - It is suspicious that a project team can not be found in social networks or when team members are not connected with each other.

Unintelligible concept - to check the concept you need to study white paper – document, where described the idea of the project and the purpose of raising money. In 90% of cases, scammers compile several documents, and the originals can be easily found in the Internet.

Structure of project costs - If 10% of the investments are reserved for team, 10% will require development, and for marketing will go 80%, then this is a guarantee of the scam. It is also strange if there is no plan for future "monetization" of the project, also a bad signal if there is noticed a lack of investors protection.

Token description - If it has less than two-three functions and it can be replaced by any other altcoin or bitcoin, then this is another bad signal.If the token is not integrated into the project economy, then probably its purpose is simply collecting money. While choosing a coin, you must first think about its use - who and why will buy and use this coin. The second - about the problems that this coin solves. If it does not have these signs - do not invest.

Project Code - It should be uploaded on GitHub and a simple research in the Internet can check the code for plagiat. If the project does not have a link to GitHub or topics on the Bitcointalk, it's a reason to think twice.

Legal structure - should be described in details and easily understandable (at least about the persons issuing tokens)

Investor´s rights -The rights of investors and their guarantees should be described.

The issue of tokens should be within reasonable limits and controlled

UPD: TOGETHER WE CAN CREATE LIST OF SCAM ICO'S, YOUR THOUGHTS ?

[Shirin16]

Hey crypto-buddies,
 I decided to create checklist for scam ICO´s

100% profitability - Guaranteed yield: any funds, ICO projects and investment platforms, that promise a stable interest are likely to be scammers. These are, as a rule, projects of cloud mining, casinos and projects related to binary options, as well as those where the sale of tokens is carried out according to the principles of net marketing: existing investors attract new ones. And, of course, the pyramids, in which old customers receive payments from the contributions of new customers, until the pyramid bursts ...

Celebrities: musicians, athletes, actors who can not know anything about the blockchain and the cryptowrold, and even more to be the guarantors of the fact that this is not a scam, seems exactly the opposite.. Celebrities are used to distract investors from the essence of the project, which is most likely dummy.

Team analysis - It is suspicious that a project team can not be found in social networks or when team members are not connected with each other.

Unintelligible concept - to check the concept you need to study white paper – document, where described the idea of the project and the purpose of raising money. In 90% of cases, scammers compile several documents, and the originals can be easily found in the Internet.

Structure of project costs - If 10% of the investments are reserved for team, 10% will require development, and for marketing will go 80%, then this is a guarantee of the scam. It is also strange if there is no plan for future "monetization" of the project, also a bad signal if there is noticed a lack of investors protection.

Token description - If it has less than two-three functions and it can be replaced by any other altcoin or bitcoin, then this is another bad signal.If the token is not integrated into the project economy, then probably its purpose is simply collecting money. While choosing a coin, you must first think about its use - who and why will buy and use this coin. The second - about the problems that this coin solves. If it does not have these signs - do not invest.

Project Code - It should be uploaded on GitHub and a simple research in the Internet can check the code for plagiat. If the project does not have a link to GitHub or topics on the Bitcointalk, it's a reason to think twice.

Legal structure - should be described in details and easily understandable (at least about the persons issuing tokens)

Investor´s rights -The rights of investors and their guarantees should be described.

The issue of tokens should be within reasonable limits and controlled

thanks friends.. very happy to hear that.
I want to invest in some ICO and I think this information is very helpful so that I do not get caught in a failure.
but if you can ask for advice, which ICO will promise for the future?

[xxxRaidysxxx]

Hey crypto-buddies,
 I decided to create checklist for scam ICO´s

100% profitability - Guaranteed yield: any funds, ICO projects and investment platforms, that promise a stable interest are likely to be scammers. These are, as a rule, projects of cloud mining, casinos and projects related to binary options, as well as those where the sale of tokens is carried out according to the principles of net marketing: existing investors attract new ones. And, of course, the pyramids, in which old customers receive payments from the contributions of new customers, until the pyramid bursts ...

Celebrities: musicians, athletes, actors who can not know anything about the blockchain and the cryptowrold, and even more to be the guarantors of the fact that this is not a scam, seems exactly the opposite.. Celebrities are used to distract investors from the essence of the project, which is most likely dummy.

Team analysis - It is suspicious that a project team can not be found in social networks or when team members are not connected with each other.

Unintelligible concept - to check the concept you need to study white paper – document, where described the idea of the project and the purpose of raising money. In 90% of cases, scammers compile several documents, and the originals can be easily found in the Internet.

Structure of project costs - If 10% of the investments are reserved for team, 10% will require development, and for marketing will go 80%, then this is a guarantee of the scam. It is also strange if there is no plan for future "monetization" of the project, also a bad signal if there is noticed a lack of investors protection.

Token description - If it has less than two-three functions and it can be replaced by any other altcoin or bitcoin, then this is another bad signal.If the token is not integrated into the project economy, then probably its purpose is simply collecting money. While choosing a coin, you must first think about its use - who and why will buy and use this coin. The second - about the problems that this coin solves. If it does not have these signs - do not invest.

Project Code - It should be uploaded on GitHub and a simple research in the Internet can check the code for plagiat. If the project does not have a link to GitHub or topics on the Bitcointalk, it's a reason to think twice.

Legal structure - should be described in details and easily understandable (at least about the persons issuing tokens)

Investor´s rights -The rights of investors and their guarantees should be described.

The issue of tokens should be within reasonable limits and controlled

Many thanks for this. you already do great job now! I'm join some ICO from this spread and have some doubts with it. check one more time and now I leave it)

[JeromeTash]

Hey crypto-buddies,
 I decided to create checklist for scam ICO´s

100% profitability - Guaranteed yield: any funds, ICO projects and investment platforms, that promise a stable interest are likely to be scammers. These are, as a rule, projects of cloud mining, casinos and projects related to binary options, as well as those where the sale of tokens is carried out according to the principles of net marketing: existing investors attract new ones. And, of course, the pyramids, in which old customers receive payments from the contributions of new customers, until the pyramid bursts ...

Celebrities: musicians, athletes, actors who can not know anything about the blockchain and the cryptowrold, and even more to be the guarantors of the fact that this is not a scam, seems exactly the opposite.. Celebrities are used to distract investors from the essence of the project, which is most likely dummy.

Team analysis - It is suspicious that a project team can not be found in social networks or when team members are not connected with each other.

Unintelligible concept - to check the concept you need to study white paper – document, where described the idea of the project and the purpose of raising money. In 90% of cases, scammers compile several documents, and the originals can be easily found in the Internet.

Structure of project costs - If 10% of the investments are reserved for team, 10% will require development, and for marketing will go 80%, then this is a guarantee of the scam. It is also strange if there is no plan for future "monetization" of the project, also a bad signal if there is noticed a lack of investors protection.

Token description - If it has less than two-three functions and it can be replaced by any other altcoin or bitcoin, then this is another bad signal.If the token is not integrated into the project economy, then probably its purpose is simply collecting money. While choosing a coin, you must first think about its use - who and why will buy and use this coin. The second - about the problems that this coin solves. If it does not have these signs - do not invest.

Project Code - It should be uploaded on GitHub and a simple research in the Internet can check the code for plagiat. If the project does not have a link to GitHub or topics on the Bitcointalk, it's a reason to think twice.

Legal structure - should be described in details and easily understandable (at least about the persons issuing tokens)

Investor´s rights -The rights of investors and their guarantees should be described.

The issue of tokens should be within reasonable limits and controlled

 Great article about ICOs, i also always look out for a it's clear and realizable road map working product, if there is no working product for the ICO, i never invest on that ICO.

[steve_rogers]

I want to invest in some ICO and I think this information is very helpful so that I do not get caught in a failure.
but if you can ask for advice, which ICO will promise for the future?

Oh, man. Nowadays it such difficult question. As for me I see perspective in AI and medical related ICO´s, but only because I´m really interested in this topics. You should check firstly the rate of the ICO (4.3 at least), on icobench for example, check the team, read the whitepaper and try to understand. Check how many they reserved for marketing and bounties also. But still it cannot guarantee anything. My last investment was in Dropil, it had high rates and gathered its hardcap. Try to divide risks investing in 3-5 different ICO´s. Take a look at ImmVRse, ARROUND, ZeroState and TruGame.

[steve_rogers]

Great article about ICOs, i also always look out for a it's clear and realizable road map working product, if there is no working product for the ICO, i never invest on that ICO.

Thank you. You are right when there is a beta version of application for example or prototype of product, and clear roadmap with well written points its a good sign.

[Nagricoin]

Good list! It will be very helpful for newbies.

[Way2Paradise]

very good list! i will use it next time i want to invest in an ico. there are really many things that have to be considered, before investing.

[jenny_hanna]

Thank you for such great list, hope it will be usefull for me during my future investings, by the way maybe you can advise anything?

[AgentZero23]

This is by far one of best check list on how to identify a scam ICO. Thank you for this valuable information this will help me to avoid scams.

[Villa_Token]

White paper too general with no depth is also a red flag. I've heard a lot of talk about telegram's investors having concerns about the white paper lacking depth.

[steve_rogers]

Thank you for such great list, hope it will be usefull for me during my future investings, by the way maybe you can advise anything?

I´ve recently discovered this project https://gpcc.io/
Take a look, you might be interested, it looks very promissing.
Hope I was useful

[catsmile]

Hey crypto-buddies,
 I decided to create checklist for scam ICO´s

100% profitability - Guaranteed yield: any funds, ICO projects and investment platforms, that promise a stable interest are likely to be scammers. These are, as a rule, projects of cloud mining, casinos and projects related to binary options, as well as those where the sale of tokens is carried out according to the principles of net marketing: existing investors attract new ones. And, of course, the pyramids, in which old customers receive payments from the contributions of new customers, until the pyramid bursts ...

Celebrities: musicians, athletes, actors who can not know anything about the blockchain and the cryptowrold, and even more to be the guarantors of the fact that this is not a scam, seems exactly the opposite.. Celebrities are used to distract investors from the essence of the project, which is most likely dummy.

Team analysis - It is suspicious that a project team can not be found in social networks or when team members are not connected with each other.

Unintelligible concept - to check the concept you need to study white paper – document, where described the idea of the project and the purpose of raising money. In 90% of cases, scammers compile several documents, and the originals can be easily found in the Internet.

Structure of project costs - If 10% of the investments are reserved for team, 10% will require development, and for marketing will go 80%, then this is a guarantee of the scam. It is also strange if there is no plan for future "monetization" of the project, also a bad signal if there is noticed a lack of investors protection.

Token description - If it has less than two-three functions and it can be replaced by any other altcoin or bitcoin, then this is another bad signal.If the token is not integrated into the project economy, then probably its purpose is simply collecting money. While choosing a coin, you must first think about its use - who and why will buy and use this coin. The second - about the problems that this coin solves. If it does not have these signs - do not invest.

Project Code - It should be uploaded on GitHub and a simple research in the Internet can check the code for plagiat. If the project does not have a link to GitHub or topics on the Bitcointalk, it's a reason to think twice.

Legal structure - should be described in details and easily understandable (at least about the persons issuing tokens)

Investor´s rights -The rights of investors and their guarantees should be described.

The issue of tokens should be within reasonable limits and controlled

Thanks for your post ! I'm having a plan to invest some ICO projects. This is really a useful article to help me be aware of the project that I am heading to!

[dimplit]

Good list! It will be very helpful for newbies.

I think that this information is useful not only for beginners. all is disclosed in this article. thanks to the author

[QuinlanDeclan]

Hey crypto-buddies,
 I decided to create checklist for scam ICO´s

100% profitability - Guaranteed yield: any funds, ICO projects and investment platforms, that promise a stable interest are likely to be scammers. These are, as a rule, projects of cloud mining, casinos and projects related to binary options, as well as those where the sale of tokens is carried out according to the principles of net marketing: existing investors attract new ones. And, of course, the pyramids, in which old customers receive payments from the contributions of new customers, until the pyramid bursts ...

Celebrities: musicians, athletes, actors who can not know anything about the blockchain and the cryptowrold, and even more to be the guarantors of the fact that this is not a scam, seems exactly the opposite.. Celebrities are used to distract investors from the essence of the project, which is most likely dummy.

Team analysis - It is suspicious that a project team can not be found in social networks or when team members are not connected with each other.

Unintelligible concept - to check the concept you need to study white paper – document, where described the idea of the project and the purpose of raising money. In 90% of cases, scammers compile several documents, and the originals can be easily found in the Internet.

Structure of project costs - If 10% of the investments are reserved for team, 10% will require development, and for marketing will go 80%, then this is a guarantee of the scam. It is also strange if there is no plan for future "monetization" of the project, also a bad signal if there is noticed a lack of investors protection.

Token description - If it has less than two-three functions and it can be replaced by any other altcoin or bitcoin, then this is another bad signal.If the token is not integrated into the project economy, then probably its purpose is simply collecting money. While choosing a coin, you must first think about its use - who and why will buy and use this coin. The second - about the problems that this coin solves. If it does not have these signs - do not invest.

Project Code - It should be uploaded on GitHub and a simple research in the Internet can check the code for plagiat. If the project does not have a link to GitHub or topics on the Bitcointalk, it's a reason to think twice.

Legal structure - should be described in details and easily understandable (at least about the persons issuing tokens)

Investor´s rights -The rights of investors and their guarantees should be described.

The issue of tokens should be within reasonable limits and controlled

Thanks for the information 

I check these ICOs soon.

[cryptomanspbmgdn]

I thought here will be a list of such projects (examples), but still thanks to the author for the work

[wndrbr3d]

Celebrities: musicians, athletes, actors who can not know anything about the blockchain and the cryptowrold, and even more to be the guarantors of the fact that this is not a scam, seems exactly the opposite.. Celebrities are used to distract investors from the essence of the project, which is most likely dummy.

Good post, man. Nice guide for newbie-investors.

Celebrities just want money and usually they don't care about quality of project they promote. Centra & Floyd Mayweather is good example.

[boss1dg]

good info , you summed up all important points ..
however sometimes we will be required to ignore 1 or 2 point of your list if all other points are met requirements .
bcoz of company policy and type of token - utility vs security .

[klement.i]

I think this information will be useful to all beginners and not only. Since I often meet people who have been engaged in bounty for a long time and can not distinguish scam from the normal ICO. And constantly complaining about the fact that the percentage of scam is increasing and I don't know what to do....

[liangweicha]

Great! This is an excellent post.
I think this post should be published in the beginners section, because it is helpful for newbie.