How to minimize the risk of being scammed.

[MiChaeng]

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

articles that are very interesting and useful. yes it's all back to ourselves, if we want to learn and understand every project that will be done or at least analyze the project first to reduce things that do not want to cool. be a smart trader or hunter because now the technology is getting better and growing. not a few of them are potentially deceiving.

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[corat coret]

from so many things you explain, it seems still difficult to determine which projects (especially ico) will not scam, because the fact is that now ico seems to be good (in terms of whitepapers, management teams working in the ico, token) is not a guarantee that the project will not scam, I have found two examples of ico that looks good but even the scam is uchit and cryptoriya

[Torps1]

Minimizing or cutting down on the risk of being scam is possible by doing a thorough research on the project prior to investing. But more interestingly too is the act of diversification of investment. Never put all your investment in only one place!

[hermae]

No matter how careful we are in choosing an ico, we can never tell if the ico is a scam or not when the ico is still on-going. We can only tell once it is finished. There are some icos that are not scams but are also not successful in the end. When their projects become unsuccessful, I think it would be best if they refund the investors' money and tell the bounty participants that their project is not successful and say that they are sorry, not that they suddenly disappear at the end of the ico, maybe if they do that, we can understand them better and not hate them and tagged them as scams.

[fosco333]

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

Of course always perform due diligence before you start to investing in any kind of project investment.
Thank you for the points you write here, it helping some peoples who doesn't know what to find out.
I usually checking their developers profile and their planning.

[Natium]

A very interesting article in which there are points which I adhere to when choosing a project or a coin for investing

[BinaryBotch]

Your post is really helpful and insightful, and if the majority follow most of the steps on here, it would be difficult for them to invest in an ICO that is a scam and lose their money. Anyways, about the whitepaper thing, most of these whitepapers are even more convincing than those that are legit, so people need to be really careful out there.

[Druid_39]

Do you think that all ICO's which start with crowdsale are scams?

[vladuch1]

Scammers and fraudulent ICOs are now really very much in the industry. Fraudsters make their projects very qualitative and people are very often trusted with them. If you are very careful and follow the rules that you have written here you can choose a really high-quality project.

[acheampong64]

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

I really like this your concluding sentence very much. The scam in crypto is something we can never run away from but hopefully we can tame it. It is only the team or perhaps a member (s) of the team who know what they're up to. No one else can fish them out and so i like hardcopy your list. it'll help in taming it and we should also always not forget to avoid being greedy- it might end you where you don't want.

[Gralph]

Avoiding the risk of being scammed is not actually an easy thing because it is obvious that no one has ever gained mastery of being a super man against the gimmicks of scammers, although as a bounty hunter i always try to go through the whitepaper  to actually ascertain the subject matter, that is, the important of their project to the society but when the subject matter is not properly detailed; i just simply close the page to visit other bounty that is worthwhile.

[barlo357]

Thanks for the effort that you brought but we can not avoid sometimes to scam because they are getting well now a days they keep on searching also how to be strong. The best thing to do is to study well the ICO before you enter in any transaction sometimes you to be paranoid to be able to avoid the scammers.

[Dmitry.Vastov]

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

We all know that crypto currencies transactions are most safest and the most confidential one and it is like next to impossible to hack the crypto currencies transactions as it provides us the user anonymity and peer to peer transactions and enabling no third party seizure in the bitcoin transactions thus no third person could see the crypto transactions and thus minimising the chances of ny hack or scam but in order to prevent yourself from scam you need to keep your keys and passwords very secure and confidential.

[bennypagulayan]

You should learn more and more knowledge, so you are more experienced in the market, in my opinion, you should not focus on doing and doing, take the time to learn and improve knowledge.

[BooMoon]

Investment is risky. What we need to do is to avoid traps or some cryptocurrencies with greater risks when investing in cryptocurrencies. We need to keep a clear mind when investing in cryptocurrencies. I think this is very important.

[jhache]

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 good, more people should follow this. It is true that we can always get scammed even if we are vigilant but at least we can make sure that we do not end up falling for the cheap scams. Also I would like to point out that people should always make sure to check the url of the site that they are on to make sure that they are on the right site before doing anything on it.

[Dacosta Osei-Tutu]

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.

Are you sure one can stay in crypto without even a single scam incident? Maybe such a person is very new in the crypto community or he is not so much into it

[Akenosi]

Scam is always part of the game,no matter how careful and vigilante you are,you see different ICO with pictures of the proposed project very good and promising you see picture of the teams looking very real and so on,but at the end you just discovered you have been scammed,to me what I think every investors, bounty hunters should do to avoid this is to partner with icos that has built their name on intergrity and trust,and registered their company too,check for their licence that permit them to run an ICO in the cryptocurrency world and not just selecting ICO to participate, with this the rate of been scammed can be minimized.

[Appiah95]

Sometimes even of your are being scammed at the ICO stage, you can lose your investment if the team fail to pursue the project and the coin gets no value

[Pamela1966]

Thanks for the information you take time to list out , if it is followed carefully being scammed will reduce drastically and it is also important to do background check up for the team of the ICO, also check if there is any previous business experience or business capital and just like you have said detailed roadmap is essential and it's feasibility