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Author Topic: How is the best way to tell a fake ICO  (Read 145 times)
coinwizard_
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July 04, 2018, 08:55:58 PM
 #21

Don't focus on ICO reviews, look at the team and make sure they are real people. If it's just a new social media account then it's fake, make sure it's not a one man show otherwise you won't see your coins again

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knien
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July 04, 2018, 09:01:13 PM
 #22

If I was you. I would just stick to airdrops.

Why I prefer about airdrops over ICO...

ICO: The founder team receives a (sometimes miti million) reward before delivering any working product at all and with no guarantee that any working product will ever be delivered. So a lot of risk for the initial investor and a gueranteed reward for the founders. to me it looks more like gambling than investing with a big potential of being scammed.

With airdrops however, the initial risk is on founder side. they invest time to deliver a working product and in case it turns out to be worthless, there is no risk for the airdrop members and no reward for the founders.
so to me it looks like choosing an  airdrop over ICO shows a lot more confidence from founder side. And if they are wrong and can't deliver... there is no harm done.



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July 08, 2018, 04:15:36 AM
 #23

If I was you. I would just stick to airdrops.

Why I prefer about airdrops over ICO...

ICO: The founder team receives a (sometimes miti million) reward before delivering any working product at all and with no guarantee that any working product will ever be delivered. So a lot of risk for the initial investor and a gueranteed reward for the founders. to me it looks more like gambling than investing with a big potential of being scammed.

With airdrops however, the initial risk is on founder side. they invest time to deliver a working product and in case it turns out to be worthless, there is no risk for the airdrop members and no reward for the founders.
so to me it looks like choosing an  airdrop over ICO shows a lot more confidence from founder side. And if they are wrong and can't deliver... there is no harm done.




This is bad that you are encouraging him to only participate in Airdrops.

Based on your statement that you only want free tokens rather to invest to real world case use project.
And its your own fault if you get scam for not doing your own research and relying on peoples reviews some of them gets paid for doing it !

Thats  Risks Management for you !
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July 08, 2018, 09:03:03 AM
 #24

You can check ICO update website There is the latest news published in their blog and social media or you can search on google and bing search engine with some keyword quotes "Trust ICO" "Top Ico List" " "released Ico" etc.
I follow this website: https://www.icohotlist.com
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July 08, 2018, 12:17:30 PM
 #25

Most new ICOs will fail but if you need just few minutes to do what is required for airdrop it's better not to waste time checking them. You will spend much more time trying to find a legit ICO than filling the forms for bunch of airdrops.

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July 08, 2018, 03:13:08 PM
 #26

1)The ICO doesn't say 100% of your crypto will be returned if the ICO doesn't go through for some unforeseeable reason.

2) There is no explanation of how people participating will be rewarded.

3) The ICO is a ponzi scheme (IMHO see bitconnect)

4) The ICO isn't backed by a substantial amount of work already.
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July 08, 2018, 06:04:46 PM
 #27

Most of ICO s are fake ,we are living in time when scaming is more profitable online than in real world ...but if you know what to do and have skills youll probably make your self rich in this jungle, its definitely not for everyone and good advice is if you are investor in ICOs dont go all in on one ,because youll probably lost your money.
Their is no best way to tell fake ICO all you can do is do your own resarch ,read a lot ,dont just by the hype and try understand why the token you buy have future and what is the purpose of that tokens in blockchain or do they have some product or they revolutionaze something

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July 08, 2018, 11:20:44 PM
 #28

With all these scam threats roaming around and taking every bit of opportunity to trick the weak, would it be possible to have a one-safe-source where all detectives can input their findings for awareness of  the community? These detectives will then get token as reward for their detective skills. Or does this already exist?
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July 09, 2018, 04:13:42 AM
 #29

I know some fake ICOs are like copying other existing projects' whitepaper, or just modifying how they express but the concept and outcome are actually similar.
Be careful and to make research if there are any similar projects, and how the whitepaper can convince you.
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July 09, 2018, 04:19:02 AM
 #30

1.Bad website
2.No details in Token Matrix. No Whitepapers.
3.guaranty profits(invest can't guaranty %profits) 
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July 09, 2018, 04:56:53 AM
 #31

The only way is show your proofs.

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July 09, 2018, 01:45:15 PM
 #32

Better not invest till you have done enough research about its foundation and members.
or don't invest at any of it.

Here's is base on my observation.

- if airdrops are asking for a fee for that ICO that's something ridiculous, you are about to be rewarded but you're paying them just for them to be able to send you the reward? just like the old email scams.
- the developers can't give their own identities.

mariomandzukic88
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July 09, 2018, 03:31:30 PM
 #33

In today's trend, it is not hard to catch up with an ICO project calling for capital with attractive information about the project to attract investors. With the popularity and popularity of blockchain technology and electronic money today, investing in an ICO project is considered both exciting and profitable. Although it is hard to spot 1 ico scam but I would like to offer some of the following, It will help you recognize the scam ico :
Research on development team
White Paper Readers - Whitepaper
Consider the process of selling tokens
Transparency of the project
Assess the feasibility of the project
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July 10, 2018, 01:20:30 AM
 #34

A fake ICO or Scam ICO has no distinct features. They are all like all other ICO.  Identifying which is fake may be contigent on your instincts...  So I advice you follow your instincts.
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July 10, 2018, 10:46:36 AM
 #35

A potential fake ICO is the one that lack a clear roadmap and whitepaper to tell of their ideas. Lack of inconsistency from the management team and reliable information on the team members is a red flag of a fake ICO

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July 10, 2018, 04:08:35 PM
 #36

I would say a demo or a beta version of the product means a lot. I'm glad that there is a trend visible now on the market that project teams have already something to show before they collect funding from ICO.
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July 10, 2018, 04:19:36 PM
 #37

I know what you mean here, so you can ask easily "How to find legit Airdrop"

well is hard to know because what we get from airdrop isn't much like we do on bounty, and almost the legit ico never do an airdrop the prefer use ads from social media or we can call it bounty to find the Big Investor and make them invest on it. and i will see the best answer about this problem.

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July 10, 2018, 04:20:22 PM
 #38

Well based on my experience i always checking their team because some of the scam ICOs has the same face of the founder make sure they are kyc verified and also check their ICO on some ICO review sites it actually helps me choosing some good ICO and also check their website fake ICO always have some ugly website that looks like some 5th grader made their website and the next thing is check their social media sites if they had many followers why not maybe they are legit somehow.

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August 21, 2018, 12:21:10 PM
 #39

Well based on my experience i always checking their team because some of the scam ICOs has the same face of the founder make sure they are kyc verified and also check their ICO on some ICO review sites it actually helps me choosing some good ICO and also check their website fake ICO always have some ugly website that looks like some 5th grader made their website and the next thing is check their social media sites if they had many followers why not maybe they are legit somehow.
I agree with this statement, because every project is based on its team. It's important if it has many members and you can read about their experience or find information in social networks. It means that they are open to questions and to the community. Usually fake ICO projects post 2 or 3 members of a team and it's difficult to find some information about them and about their experience.
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