How to identify SCAMS? Got in one :(

[psoo7]

A lot of scams happening in the ICO market due to lack of knowledge and desperation to dive into crypto market. Although there are many ways by which you can identify these scams like: Team profiles, whitepaper technicalities and etc. But is there any way to identify when all these things are taken care of?
as I just lost some money in a scam named DenCity. Everything seemed genuine at first. what to do in such cases or for assurance?

[gary_57]

The most asked question I think. My tips to identify is go through the white paper thoroghly, look into the projects and the team working behind. See the website properly too. These might help.

[mastadonballs]

There are many ICO scam campaigns recently and to determine which is not easy. In addition to analyzing the index as well as looking at the website review, it is essential to do that to ask people on Social the potential of that project to make the most accurate investment decision.

[Harriti]

I think only way to identify scam project is learning experience and knowledge about investing in ICO project form other investors whom have joined cryptocurrency world for long time.  But I think you should prepare money for tuition cause I don't think anyone will really share their knowledge and experience for you if they're not your family members or your friends

[batang_bitcoin]

You already answered your question.

Lack of knowledge and desperation.

Try to remove these two and start educating yourself first before investing to ICOs and don't be too desperate about the profit. Don't be so greedy so that you'll not be landing on scam ICOs.

[btccashacc]

There is no such a method to determine whether the project is real or scam. On the other side creating a coin is not a hard thing to do and the scammers will try their best and make something best to convince people to invest in their project. However you can minimize the risk for being scam by learning their whitapaper, checking the team behing the project and get in touch with them, asking the community is a good thing to do though, the last maybe visit some ICO review sites.

[Teraboy]

A lot of scams happening in the ICO market due to lack of knowledge and desperation to dive into crypto market. Although there are many ways by which you can identify these scams like: Team profiles, whitepaper technicalities and etc. But is there any way to identify when all these things are taken care of?
as I just lost some money in a scam named DenCity. Everything seemed genuine at first. what to do in such cases or for assurance?

There is no assurance for that, if you have been loosing your money and you can't get it back again. As far as i know that all of the lost result in the crypto is permanent and it can't be reverted. So you can try t do a lot of dilligence later. There is a lot of scammer and that's why i need a few weeks to identifying an ico.

[Scambusterz]

If there were universal ways to define a scam, then fraudulent projects would simply not exist. Even the most successful at first glance project may be a bench.

[RavagedLife]

Recently Scamming has increased a lot. I am very sorry for your lost.You can check their token sale to see whether it is progressing or not because some scam sites hide their token sales.You can also check whether it is a transparent company or not. Like it is giving up to date report to user or not.

[DannyMarco]

Actually it is really tough to find the scam coin at a glance in the market of crypto currency. Actually this is a decentralized market and so it is difficult to find the fake scheme. You can see the past record of the coins and you should be very careful regarding new coins. Experts’ opinion can also be helpful. Moreover try to invest in a real coin like bitcoin.

[demenBTC]

There's no specific technique to identify scams. But, i saw a software which can do so. I don't know whether its reliable or not. You can search it on google.

it is not a guarantee, all fraud happens in because of the developer ico itself, to identify it is very difficult, in searching ico who does not cheat that must be known is a developer that has been trusted and has good repotation

[Valay9836]

Unfortunately many projects this Scam . and many of them look very convincing . check thoroughly will not work . even the most hoped-for , they turn out to be a bench

[klavuhn]

For bounty Hunter, I only check whitepaper, Team, and their partnership. Also check ICO rating to ensure that the project aren't SCAM. But for investment I will check Furthermore because I didn't want to lost my money.

[HadadC]

Scams are really common in these days. People try to avoid them but its not possible everytime. You need always be careful.

[Torrenth]

very difficult to know fraud or not, identifying the team and others do not guarantee it is a good project, I think there are luck factors that contribute to this, and the other is experience. and therefore for now I have not thought to invest in ICO.

[celtic99]

Sometimes its impossible to know.  Some scams can be really convincing with real team members and such but you still end up losing a lot of money.

[Bttzed03]

That is unfortunate. There is no guarantee that you will not fall in any scam in the future. Perhaps the best weapon against these scams is experience. I know some of those who have been in crypto for quite a long time who could spot a scam at first glance.

[spngebob]

A lot of scams happening in the ICO market due to lack of knowledge and desperation to dive into crypto market. Although there are many ways by which you can identify these scams like: Team profiles, whitepaper technicalities and etc. But is there any way to identify when all these things are taken care of?
as I just lost some money in a scam named DenCity. Everything seemed genuine at first. what to do in such cases or for assurance?

There are many indicators how to recognize scam, starting from team members, poorly written whitepaper, too good to be true project, self moderated thread, team using bumping service, new facebook, twitter, linkedin accounts, i think there is thread on this forum about this. If everything looks ok you can't identify it, but if you think something is strange with project move to next one.

[elosi]

The way I avoid scam ICO is that I use icodrops website to pick my ICO, icodrops website list good and verified ICO's so I normally go there and find some ICO then I will continue my research on them to find the one I will invest.

[w33man]

A lot of scams happening in the ICO market due to lack of knowledge and desperation to dive into crypto market. Although there are many ways by which you can identify these scams like: Team profiles, whitepaper technicalities and etc. But is there any way to identify when all these things are taken care of?
as I just lost some money in a scam named DenCity. Everything seemed genuine at first. what to do in such cases or for assurance?

This is asked a lot of times. The reason why a lot of ICOs fail is because investors are now skeptical on joining ICOs since a lot of IcOs  are scam. Some investors are just waiting for the ICO to finish and get listed just to make sure that a project is legitimate. Some ICOs are just copying other's whitepaper to make their project look real.