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September 17, 2018, 01:21:57 PM |
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I like to share my personal ICO checklist (sorted by descending order of importance): 1. An established company (highly regarded) with a product and a valid company address (not a virtual address). There are just too many ICOs and those that are answerable to the government and subjected to the country’s law have lesser chance of running away overnight. 2. Professional video with their team talking about the ICO including Youtube Interview with bloggers and influencers. This would be very hard to imitate using Fiverr. Alternatively, their ceo and core team would go to roadshows or exhibitions. Scammers wouldn’t dare to go live and reveal their faces in real. 3. If they are a startup, then the top management would make themselves available in social media and answer questions simply because they care! If they are real, they have nothing to hid and you should be able to verify their credentials easily even by talking to them. You should be skeptical if they are always hiding behind the scene and not contactable. 4. Over-emphasis on the rewards or things that sound too good to be true. For example, words like “200% pre-ico bonus” and “ROI in 3 months” should set off an alarm. 5. Be skeptical of ICOs that ask you to send crypto to a personal wallet addresses. As the crowdsale doesn’t use a Smart Contract, it means you have no visibility of the total funds raised at any time and guarantee they will send you the tokens after the ICO ends. It is unfortunate that I’ve seen more and more ICO launchers using this method and investors waiting a lot longer to get their tokens after the ICO ends. Ideally, investors only need to trust the Smart Contract and not the words. 6. Linkedin profiles of top management with recommendations from real verifiable people. You should be skeptical of their profiles if they could survive all these years without any recommendations from anyone.
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