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Author Topic: How to spot a SCAM ICO?  (Read 153 times)
Sakshi koli
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August 28, 2018, 07:33:29 PM
 #21

A good method to determine whether an ICO is scam or not is to look up for the partners of the particular project, especially on their marketing agency. Usually, blockchain startups don't have their own marketing department, therefore they hire other companies to do PR, marketing, content creation, community management etc.
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August 28, 2018, 10:28:28 PM
 #22

every old and new coin must have a whitepaper. Why? Because the whitepaper will inform investors about the Coin in detail - from the mission, the team, to the technology to be used, the Whitepaper can also be seen as a coin "proposal" for the ICO to investors.

Counterfeit companies usually do not have a Whitepaper because they are not professional enough to make a normal Whitepaper, or the company cannot describe their company, vision, mission and ideas in a reasonable way, companies that usually promise sweet dreams find it difficult to explain in detail. and logically how they will reach their "target", remember that they can also copy whitepapers from companies that are already nets
ultimo5
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August 29, 2018, 03:20:37 AM
 #23

There are several factors that determine scam.

1.an obscure team
2.Unclear business model
3.illogical profitability
4.an inactive social community

THank you
rnssol
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August 29, 2018, 04:39:34 AM
 #24

Scam ICO's are not an incorporated company.
The people behind the "project" are unknown/fraudulent team members/advisors.
They promise high/fixed profits if you invested.
Plagiarized/bad whitepaper.
Token distribution structure doesn’t make sense (e.g. 35% for founders)
Team dodging questions by the community (Refusal to disclose company info)

You can read in details from the source here: https://blog.indorse.io/how-to-spot-a-scam-ico-d2cfe47b3b52

This is a very clear and a detailed explanation of scams. This is very helpful.
boyptc
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August 29, 2018, 05:51:47 AM
 #25

  • Inconsistent answers to your queries
  • Anonymous team
  • Unreal road map
  • Confusing whitepaper or copy paste
  • Lack of professionalism

Benjamin353White
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August 29, 2018, 07:43:33 AM
 #26

To avoid SCAM from an ICO project, you should avoid phishing websites, as fraudulent websites are just like the real ICO website, investors almost need to know the official website before a project is a launch. Therefore, when you want to invest in an ICO project, the first thing is to consult and thoroughly study the project.
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August 29, 2018, 08:10:16 AM
 #27

Most at times,scam ICOs do not have team members and there is no video of the project.
Korkorjkk
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August 29, 2018, 09:02:04 AM
 #28

Scam ICO's can be spotted when the white paper contains a lot of mistakes and the team members also have a larger share of the tokens. Some of the team members also have fake followers and new accounts.

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