How to minimize the risk of being scammed.

[berrygood]

If you are not scammed at ico that is good but not last, tokens would be literally left by the team and that is basically not scam 

[Dacosta Osei-Tutu]

Scam is major challenge in crypto these days and we all have to fight against it and make crypto attractive to the world

[iknowitsme]

After reading their whitepaper then ask yourself these questions:
1. Does the document make sense to you? (Did you get a picture of the whole idea they are talking about?)
2. Is project going to provide any real solution to any problem? (scam projects usually provide vague solutions which normally does not point out the blockchain aspect in it)
3. Is the document having original contents (scam projects usually copy people's work)
4. How old is their official website (most scam projects usually have new websites)
5. What has the team done already towards the project.(scam projects usually do not have any detailed roadmap)
6. Check the team's profile on linkedIn and also their number of connections. (fake ones usually have low and no real connections.)
7. Check the token distribution. Is there equity and equality? (the scam ones usually allocate higher percentages to the team)
8. Did they give any abnormal price speculations? (i joined one bounty(Crestonium) who promised 3 times profit within 6 months else they are going to refund investors monies back to them. They ended up being a scam)

No matter how vigilant you are, you can still get scammed but at least, you can reduce the risk of being scammed. Enjoy your day

9. Is there math and tech in whitepaper or only words?
10. Should the solution to the problem described in WP really be decentralized? Maybe traditional DB or website will do the trick?
11. Does the token has any real value in the upcoming project or is it for example just a discount token/any other trash?
12. How much competitors will the project have?
13. Is the team capable of making everything they promise or is it too small/unprofessional for the task?

[miltonpogi]

Basically, Investors prefer to go on well know currency such BTC to minimize being scammed, there first basis is how long the currency excess and how many trust it gather in a long run, although reading and investigating is enough to say if a coin is satisfying. Its to insane to avoid being scam but it can be lessen, a good way of it is a detail roadmap of presenting the coin. As I see most of the coin had a favorable start to collect investors and as times goes changes are coming and many projects has occur, that incident is the riskiest part cause provider got his belly full and its unpredictable what will gonna happen next, better if you prepared your minds in to deal with those circumstances.

[Gurjasmeet]

I think it's very difficult to minimise risk of being scammed. But we should control the risk,study the profile & contact the team members time to time who involve with projects. after satisfaction all about the project then should be investigated.

[Casalania]

I think it's very difficult to minimise risk of being scammed. But we should control the risk,study the profile & contact the team members time to time who involve with projects. after satisfaction all about the project then should be investigated.

well for me, you cant minimize it, the only thing you can do is try to avoid it, minimizing it means that you will still be able to become a victim of scam with such a low risk, but if you do everything you can to avoid it, then you might be.

[Jazvebtc18]

After reading their whitepaper then ask yourself these questions:
1. Does the document make sense to you? (Did you get a picture of the whole idea they are talking about?)
2. Is project going to provide any real solution to any problem? (scam projects usually provide vague solutions which normally does not point out the blockchain aspect in it)
3. Is the document having original contents (scam projects usually copy people's work)
4. How old is their official website (most scam projects usually have new websites)
5. What has the team done already towards the project.(scam projects usually do not have any detailed roadmap)
6. Check the team's profile on linkedIn and also their number of connections. (fake ones usually have low and no real connections.)
7. Check the token distribution. Is there equity and equality? (the scam ones usually allocate higher percentages to the team)
8. Did they give any abnormal price speculations? (i joined one bounty(Crestonium) who promised 3 times profit within 6 months else they are going to refund investors monies back to them. They ended up being a scam)

No matter how vigilant you are, you can still get scammed but at least, you can reduce the risk of being scammed. Enjoy your day

Definitely Yes I agree with you mate. All you have mention is what we need to know if the ICO project we are going to join are legit. But scammers nowadays is very wise. They can still provide what you have mention but still it is a scam. Maybe you can lower the risk that you will be scan but you can't really avoid it.

[weborsha]

The thing is, that even if you check all the points that were mentioned in this thread, you still could be scammed. The team may just stop developing the project after a couple of months, not right away after the ICO stage. They even may be listed on a trusted exchange, but if there is no utility for the token - it costs nothing.

[JohnMacZeppelin]

To reduce the risk of losing money. It is best not to invest at all. And if you decide that you can accept these risks, then you need to try. Just think about how you can still get an increased profit of more than other investment options.

[MoonJeina]

After reading their whitepaper then ask yourself these questions:
1. Does the document make sense to you? (Did you get a picture of the whole idea they are talking about?)
2. Is project going to provide any real solution to any problem? (scam projects usually provide vague solutions which normally does not point out the blockchain aspect in it)
3. Is the document having original contents (scam projects usually copy people's work)
4. How old is their official website (most scam projects usually have new websites)
5. What has the team done already towards the project.(scam projects usually do not have any detailed roadmap)
6. Check the team's profile on linkedIn and also their number of connections. (fake ones usually have low and no real connections.)
7. Check the token distribution. Is there equity and equality? (the scam ones usually allocate higher percentages to the team)
8. Did they give any abnormal price speculations? (i joined one bounty(Crestonium) who promised 3 times profit within 6 months else they are going to refund investors monies back to them. They ended up being a scam)

No matter how vigilant you are, you can still get scammed but at least, you can reduce the risk of being scammed. Enjoy your day

This is some serious information here .
But the major concern here is that most of the users who fall for the honey trap are the new and immature users who are just trying their luck here .
If they don't have an idea of how a whitepaper should look and what should it present , they will never be able to judge what is right and what's not in the whitepaper . Moreover , all the ponzi and FOMO hype has worsen the conditions and it is just impossible to be sure about any project . 60% of ICOs that are posted in the bounty fails.

[Afteryou56]

The pump and dump groups make the whole situation very serious. It causes fluctuations here and there and the gap is also large. But one thing I always say is that, the future is always bright. Altcoins will one day gain the limelight they deserve, and it all depends on acceptability of cryptocurrency. As more people accept crypto there's the chance of getting a need and usefulness of altcoins(and that will make them fly high or trade better). I think developers of altcoins should also create realistic projects.

[rayjellanajao]

Thanks for this tips! I really wanted to reduce the risk of getting scammed but reading the whole whitepaper takes time. I guess I'm going to read a few pages of the whitepaper and use the other choices. Well, knowing the project really increase the chance of avoiding scams but still, there's no hundred percent chance to avoid it.

[rvlrshr]

Yes, you've got the point the risk of getting scammed was minimize that's why it's really important to do more research before investing your time and money on a specific project.

[Jessy Mediola]

After reading their whitepaper then ask yourself these questions:
1. Does the document make sense to you? (Did you get a picture of the whole idea they are talking about?)
2. Is project going to provide any real solution to any problem? (scam projects usually provide vague solutions which normally does not point out the blockchain aspect in it)
3. Is the document having original contents (scam projects usually copy people's work)
4. How old is their official website (most scam projects usually have new websites)
5. What has the team done already towards the project.(scam projects usually do not have any detailed roadmap)
6. Check the team's profile on linkedIn and also their number of connections. (fake ones usually have low and no real connections.)
7. Check the token distribution. Is there equity and equality? (the scam ones usually allocate higher percentages to the team)
8. Did they give any abnormal price speculations? (i joined one bounty(Crestonium) who promised 3 times profit within 6 months else they are going to refund investors monies back to them. They ended up being a scam)

No matter how vigilant you are, you can still get scammed but at least, you can reduce the risk of being scammed. Enjoy your day

It is based on your understanding. Because if you look at the whitepaper you can actually recognize if the ICO will success if you yourself noticed that their platform are feasible then you should trust that one and support it with all of your heart.

[Corelianer]

Now it is becoming more difficult to choose a good ICO, I spend more than one day on it. The terms of some crooks. I'm looking towards blockchain ICO projects.

[chocolaty]

The number of scam ICOs are continuously growing and investors know this for a fact which is why a lot of them try to stay away from ICOs. This caused the market's recent dumps.

As a careful investor, you should inspect the project. Research about it. Read its claim and evaluate if any of their claims are attainable depending on the efforts they exert. It is really hard to detect a fake ICO because real ones have its fault too.

[Rengga Jati]

-snip-

Very good reviews to inform us to be more careful in choosing the ICO. Yeah, those questions can be the consideration when we are going to invest or join in the ICO. Of course, the answers of those must be analyzed carefully. We no need to hurry up deciding which ICO must be invested.

[Octc76]

After reading their whitepaper then ask yourself these questions:
1. Does the document make sense to you? (Did you get a picture of the whole idea they are talking about?)
2. Is project going to provide any real solution to any problem? (scam projects usually provide vague solutions which normally does not point out the blockchain aspect in it)
3. Is the document having original contents (scam projects usually copy people's work)
4. How old is their official website (most scam projects usually have new websites)
5. What has the team done already towards the project.(scam projects usually do not have any detailed roadmap)
6. Check the team's profile on linkedIn and also their number of connections. (fake ones usually have low and no real connections.)
7. Check the token distribution. Is there equity and equality? (the scam ones usually allocate higher percentages to the team)
8. Did they give any abnormal price speculations? (i joined one bounty(Crestonium) who promised 3 times profit within 6 months else they are going to refund investors monies back to them. They ended up being a scam)

No matter how vigilant you are, you can still get scammed but at least, you can reduce the risk of being scammed. Enjoy your day

That is true ..
no matter how we should always try to avoid the scm project. this is very helpful to my knowledge. I also tried to learn about a project from this thread: https://bitcointalk.org/index.php?topic=4560719.msg41090029#msg41090029

[vseslav90]

The most important index which determines the level of this risk is being careful in the choise of projects which you are going to participate in and that's all.

[p i e c e]

In order to protect yourself as much as possible at the time of investing in cryptocurrencies you need to actually spend a lot of time studying a potential project. It will really be useful.