HOW TO SPOT SCAMMY ICOS?

[enhu]

Anonymous isn't good for those ICOs, thats what the team should have in mind. If they keep themselves anon then maybe its better to just invest when the token they are selling to you are already in the market or if they have proved themselves to be developing the project well. It doesn't matter if you buy the tokens for a higher price so long as you aren't scammed.

[Koontas]

Read how to spot scammy ICOs!

https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56

That's a nice read. I would also recommend to check if the Telegram or Discord group only has been grown with bounty asks or if it was organic.

And if there is a real team with real founders. Good due dilligence is the key to long term success.

[ololajulo]

Read how to spot scammy ICOs!

https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56

2. Anonymous project.

If you want to scam people, best way to do it is by hiding your identity. Therefore you should never trust a project that does not display it’s team members, company information nor physical address. No matter how good the project seems, there is a reason why they are hiding their identity.

This isnt always the case, I have always felt suspicious of ICOs when they link to the team members linkedin profile. Well, this may be legit in many cases as they want to build a positive trust by showing off the team. But, I also have seen people buying 20-25 old linkedin accounts through this forum.

But they could hide their identity and act as someone else.
Buying and selling identities is common.
Then it's hard to find out who really stands behind the project.

you can request for other means of identity if other means of communication is not provided. You can contact through others social media identity and check the record or track records and friends.

[Fatunad]

Anonymous isn't good for those ICOs, thats what the team should have in mind. If they keep themselves anon then maybe its better to just invest when the token they are selling to you are already in the market or if they have proved themselves to be developing the project well. It doesn't matter if you buy the tokens for a higher price so long as you aren't scammed.

This line isnt advisable and its too risky if the project wont go well in longer runs.

It doesn't matter if you buy the tokens for a higher price so long as you aren't scammed.

It feels like you had been scammed if you bought high then the price went down yet you would still lose money but still much better since you do still had money left unlike on scam where all of your money will fly away.

[rayk]

Not whitepaper, project, website.... For sure.. If the team is anonymous, that project is very likely to be scam more than 80% possibility to me. I would not even invest in many projects just team seems not good.

[vladmiranda]

Many people dont want to list their name for regulatory reasons.

[Dondont]

today, even the ICO team's identity can be very easy to forge. my advice if indeed the team is really serious in the process, they should still update even have their own youtube account that promote and provide the latest update about the project from ICO or maybe some ICO video review will be more great.

[rapidleech]

Unknown/fraudulent team members/advisors
It is important to do due diligence on the team members and advisors by fact checking their credentials through third party sources and whether the team members have the capability to deliver the product as promised through their past experiences.

[Clark05]

The scam ICO is if the team not post they real faces , because they scared to scam people if they post their faces because people will hunt that team. But as of now even the ICO who faces team are scam people they did not scared of what happen. It depends only to you how choose ICO. Because most of the ICO are scam.

[macchiato]

Read how to spot scammy ICOs!

https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56

2. Anonymous project.

If you want to scam people, best way to do it is by hiding your identity. Therefore you should never trust a project that does not display it’s team members, company information nor physical address. No matter how good the project seems, there is a reason why they are hiding their identity.

This isnt always the case, I have always felt suspicious of ICOs when they link to the team members linkedin profile. Well, this may be legit in many cases as they want to build a positive trust by showing off the team. But, I also have seen people buying 20-25 old linkedin accounts through this forum.

Even though this isn't always the case, it is still important to let the target market know what type of people they are dealing with, whether they have good credentials or not. I would not personally choose a project that has no transparency because that is very risky. Primarily because if anything goes wrong, I do not know who's accountable and anyone who is hiding under anonymous name probably don't want to be liable of any misaligned events.

[BattleZeo]

Read how to spot scammy ICOs!

https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56

In general, it is still difficult to distinguish good ico from scammy ico. That’s why most people trust in the coins on exchange(for example Binance or Bitfinex) more.

[ngavanngo22]

I don't think it's easy to find out scam ICO at the moment. Scammer is coming more and more professional day by day so it's really hard to detect scam ICO projects if you're not a professional investor . If you think check WP, dev team and roadmap can help you find them out, I think you're totally wrong cause all these things can be faked really easy.

[easemypain]

Whatever anyone will say about knowing how to spot scammy ICO, is definitely based on personal views. Sometimes the project you think is the right one with comprehensive details about the team behind it will turn out to be scam, while the reverse might be the case. So my candid advice is, if any one feels a project is worth investing on he or she should go ahead.

[jdgranfiel]

I'm a bounty hunter and I noted some ICO's that turned out to be scam. They have something in common, I can't remember seeing their team's faces on my ads for them on facebook and twitter. Not even a video that shows events of them live.

[secondhandlark5]

There are different things who you can check. First of all is it important to know if it is listed on ico review websites. If it is you can go to the next step and check the whitepaper of the project. After that if you are still interested and they can perhaps show you a MVP, check the team and advisors. If all the parameters are ok then you can choose to invest in the ICO.

[Rainbow009]

Is there a way to detect scam ICOs and good ones?

[ps]

The team behind the cryptocurrency must be completely transparent about their identities and have no history of fraud or scamming.
Are they the fork of an existing coin? If yes,what is the reaction of the existing community to it and does the coin actually make any considerable improvements?

[ico-services]

Very good article!

[fia_naila]

Red flag for me :
1. Developer never shows up on the public blockchain event.
2. Developer did not keep their words. I know start up company sometimes passed the dateline but if there is no progress we can check like at github its a redflag for me too.
3. The project looked impossible to achieve and we need to do dip research when we see very fancy website. Sometimes fancy website is the bait.

[ajiejot]

Read how to spot scammy ICOs!

https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56

This is really helpful for every investor, specially when you are newbie and start to invest in some ICO. Most of scam ICO nowadays are very common, you can easily spot them. Specially on their team members and hard capped or soft capped. So, be careful always.