How can the ICO scams be identified?

[Sysmark]

Dear All!

As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!

[PsylockReborn]

Dear All!

As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!

It's really hard to tell whether an ICO will scam you or not but there are some certain measures that you should be doing before investing in an ICO. For you to be able to know about the project you should read the whitepaper for you to understand the nature of the project whether it is realistic or not. It is also very important to know the people behind working with the project. You need to research as well of the possible affiliates that this project have to back them up for their development. Make sure that the project will also address a certain problem that most tokens or coins wasn't able to deliver for it to be useful and have value when its launched to the public and always follow your gut feeling and intuition almost all of the time it's correct when your in doubt about investing into a scammy project.

[Hellobx]

If the ICO project does not have open source code, you need to be careful.
Because a good ICO project will open source code.

[ManaMan]

Next time try to google things you want to ask as I am sure that this question was already answered by many sources out there, even you have some very similar topics on this forum regarding your question...

For instance here is your answer that I easily found on cryptocompare: https://www.cryptocompare.com/coins/guides/how-to-avoid-scam-icos/

[drogas]

There are a lot of ways: whitepaper and researching the development team are some of the best ways for checking.

[Bencus]

ICO scams are pretty rare. These scams want nothing, but the investments, then disappear, without giving anything back in exchange.

However there are vast amount of ICOs that are built on bad ideas, or having an incompetent team, etc. that will result in losing a large portion of the value of your investment. This is not something called a scam, but some might feel like they've been scammed.

To indentify, which ICO can be a scam, or does not worth investing, you should check some things about the project. Here are some steps:

0. Read the whitepaper thoroughly. You are investing your funds, make sure you know what you're into
1. Evaluate the viability of the project, and the idea behind it. If its built on a realistic, good idea, that is a good sign.
2. Check the team of the project. Are there any members with years of experience, or high reputation?
3. The partnerships/connections are a particularly important. Make sure to you double check the given informations.
4. Some of these way of scammings are actually pretty old, just being disguised with fancy words and marketing. Being aware of some schemes might help you to keep clear off these kind of scams.
5. Read some professional reviews on the project. These individuals likely to have more experience in investing into ICOs, than the average person willing to invest into ICOs. Keep in mind, that some of these  professional reviewers may be biased, so I'd recommend to read/listen to multiple ones.

You should take your time to pick the right ICO(s) to invest, and it takes time to do your research. And make sure you dont invest blindly, or dont just invest for the hype alone - I did once, turned out to be a mistake. It was not a scam, but the team is not making the efforts that would be expectable.

[alexartem2007]

Very interesting question, and I think everyone knows the answer to it perfectly. There is no 100% guarantee that the project will not prove scam. Of course, you can reduce risks to a minimum, but it's still not a guarantee

[yomarve]

Truth is you can't be right one hundred percent. Though there are careful ways to avoid a scam but we are dealing with humans who can change at any moment.   A legit project could turn into a scam for whatever reason.

[alexartem2007]

Very interesting question, and I think everyone knows the answer to it perfectly. There is no 100% guarantee that the project will not prove scam. Of course, you can reduce risks to a minimum, but it's still not a guarantee

First, you must understand the area that the project affects and represent the prospects. At a minimum, get acquainted with the technical documentation, and naturally it is necessary to study all the members of the project team, if possible, to communicate with them personally.

[anggaem]

We can't check it, it's to hard i think, but always check the team because many ICO projects are scam because their teams do not show themselves. and dont forget to check whitepaper roadmap and Dev activity on ICO group chat.

[cryptonad]

Interesting topic to discuss with. There is no way to know 100 percent guarantee that a single project is not a scam. But there are some steps to minimize being scammed buy doing some research about the project itself.

[jusertvaz]

you are right, in the crypto industry there are a lot of scammers and some of them are not conducting real ISO so as not to fall into this trap you need to be careful and carefully study all information about this project.

You should study the project site, the white paper of the project well, and most importantly learn as much as possible information about the creators of the project, find them on social networks and make sure that these are real people and that they have a good reputation

[Xioma]

Through experience, only after reading a lot of whitepapers, doing research and investing will you be able to differentiate between good and bad ICOs.

[straimrpl777]

In fact, it's very difficult to determine this, but there are several ways to find out for sure. Firstly, if the project is Russian, then the likelihood that it's scammers is 99 percent. And watch carefully the Crypto project advisors, there are already those that are mostly in the projects of scam

[deghpulsa]

many ways of knowing if ico is a scam, that is by seeing if their team is fake or not by seeing if they have a social media account, reading whitepapers and roadmap, viewing their website, whether they are in ico rating and news sites, and if they have a bounty program then we have to see who their manager.

[swissgang]

Check whitepaper for plagiarism, check whether the team members are known people, look at the source code of the project if available. Lastly if you have any shadow of a doubt don't invest you really don't lose anything.

[Rhaizan]

Dear All!

As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!

Yes there's so many scammers especially in ICO's, they gain money from the investors and after that the people want to cheat are didn't update on their project. Honestly I did not encounter any scam ICO's but I have a friend are many times victims of the scam.

[Vasyan]

you need to learn as much as possible about the creators of the project, search them in Google, find their pages on social networks, you need to make sure that these are real people, then you need to know what they were doing before this project, and so on, you should learn about them everything, and if you await at least a little doubt about the honesty of these people, then you do not need to take part in this project

[dealung]

Dear All!

As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!

You can see from their team members then check their photos one by one using photoshop whether the photo is edited or not, then check from their white paper whether or not the project they made, check their website and ask in this forum.

[carlisle1]

Dear All!

As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!

There are really no specific way to distinguish whos scam and whos legitimate in ico project,specially if the scammers are expert in this fields..even me i admit that because of the great copycat skills of this scammers i dont know how to find then,though some of this fails on their ICO SITES because most of the times in this area we can catch the,