Prove that you shouldn't rely on icobench and others

[Ken_terrance]

This is a warning to all newbies that seek help from ico rating websites when they are looking for projects to invest money on..

Facts
- You have good money to pay? you will get good rating on the platform, this is the way of ico rating websites
- Good projects can get bad rating on them, and that doesn't mean they are bad project..

For example, you must have been hearing about how successful gowithmi project was right? check out the rating on icobench using the link below.

https://icobench.com/ico/gowithmi

The score is 3.3 where as projects that have better rating turned scam as well, all i am saying is its better to rely more on your own research and not rating.

To me i don't see the reason of these ico rating websites existence, they exist to give investors good info about projects they can invest on but its a shame that money did took over, its better to stick with this forum, its the best place to get good answers

[1715482746]

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[sikke]

ICObench has been proven as an unreliable means of obtaining info about the project you're about to invest in.

There have been plenty of instances where ICOBench has wrongfully accredited certain projects with verification statuses when in fact later it was found they are running a fake team and project altogether.

So definitely avoid blindly trusting in their analysis. Do your own diligence, because these people are biased decision makers who accept funding from the ICOs that they rate (sort of like what happened in the GFC with ratings agencies like Moodys).

[Ailmand]

ICO review sites are promotional sites that are paid to create ICO ratings and reviews. If projects have money they can pay for a good review and ratings for their sites for promotion. Investors should rely on their own research and not on ICO review sites.

[LuckyBtc]

Icobench and sites like these have lost their popularity, It's mostly IEOs now, Binance, Okex etc.. rule now. I never relied on their reviews anyway. Researching on your own, talking to team members, how they handle things, how they engage with their community etc.. will give you a nice idea of how your investment going to perform. I prefer projects that are more involved with it's community and do rightful.

[Wintersoldier]

The only thing that is legit and true on icobench and which is the one reason i am still using it till date is ratings from ICO Advisors, they mostly reveal some weak points in new projects, with their opinion you will be able to see things you couldn't before

Even if they told us the holes of the projects, there are still projects that are looking good by looks, but the entire system is faulty, meant to scam and meant to fool people to invest in them. I highly doubt ICO rating sites as they are merely paid websites to advertise and only created for the purpose of gaining money from these projects. If you really want to know how good a project is, take a look at our reputations section on this forum. Too bad we don't have section meant for bounty projects that are scams.

[adjed]

Some projects that turned out so well like Arweave didn't get much if a rating and they turned out to be one of the best projects out there because they have fully developed what they promised in their whitepaper and still even have a very good price for their tokens which is more than I could say for those projects that got up to 4.9 rating on ICOBench, the process has been rigged from the beginning and would continue to be so even though much people don't use those sites anymore except maybe to check token price and such.

[plast555]

Icobench and sites like these have lost their popularity, It's mostly IEOs now, Binance, Okex etc.. rule now. I never relied on their reviews anyway. Researching on your own, talking to team members, how they handle things, how they engage with their community etc.. will give you a nice idea of how your investment going to perform. I prefer projects that are more involved with it's community and do rightful.

Of course. Doing your own research always gives much healthier results.

When I first started the crypto business, I believed in the comments of such sites and traded accordingly. But I soon realized that they were all garbage.

At the same time, with the end of ICOs, sites such as icobench can be destroyed in time.

[Flezy]

There is indeed no better truth than this, you said it all and that's the way it is. Being long I realized that these ICO rating sites are just there to fill their pockets and nothing more. If the project is willing to pay they will get good ratings and investors on the other turns out to be victims. Just like you rightly pointed out, the best form of research is the one we do by ourselves not depending on these rating websites before we make a move or invest.

[Christinebeauty]

The crypto market is full of manipulations. The rich always try to manipulate the system and take advantage of susceptible individuals to steal from them. That is why you should never invest in a project with huge funds

[Chuky92]

This is a warning to all newbies that seek help from ico rating websites when they are looking for projects to invest money on..

Facts
- You have good money to pay? you will get good rating on the platform, this is the way of ico rating websites
- Good projects can get bad rating on them, and that doesn't mean they are bad project..

For example, you must have been hearing about how successful gowithmi project was right? check out the rating on icobench using the link below.

https://icobench.com/ico/gowithmi

The score is 3.3 where as projects that have better rating turned scam as well, all i am saying is its better to rely more on your own research and not rating.

But seriously anyone still looking at these websites needs to be looked out twice. These ICO rating websites lost their value during the era of ICOs where they will give a good rating to a scam project which points to they are being paid to do such.
I agree with your last statement, let's learn how to do research on our own as it will help us pinpoint faults or questions that needs answers which can be taken to the team for clarification through there Knowing the team's level of experience.

[tabas]

They were debunked even before but still, there are people who are new to crypto's that are relying on those sites of a kind.

The crypto market is full of manipulations. The rich always try to manipulate the system and take advantage of susceptible individuals to steal from them. That is why you should never invest in a project with huge funds

Correct, especially in these reviews. The more you pay, the better content and review you'll get from these sites. I think before they were not like this but after getting huge traffic, they've seen the idea and pushed their business for it.

[BlackFor3st]

This is a warning to all newbies that seek help from ico rating websites when they are looking for projects to invest money on..

Facts
- You have good money to pay? you will get good rating on the platform, this is the way of ico rating websites
- Good projects can get bad rating on them, and that doesn't mean they are bad project..

For example, you must have been hearing about how successful gowithmi project was right? check out the rating on icobench using the link below.

https://icobench.com/ico/gowithmi

The score is 3.3 where as projects that have better rating turned scam as well, all i am saying is its better to rely more on your own research and not rating.

That is how the rating websites work right now therefore their credibility is not that genuine as most of the projects can get a high rating if they can pay a certain amount of money.

So for newbies, don't mind about all the ratings that they display on their website or advertisements of the projects that you want to invest on. Instead dig more especially to the most important part like their partners,credibility of the team,goal of the project and etc.

[starblocks]

This is good advice, don't simply invest based on a top rating sites review of an investment opportunity like an IEO or STO always do your own independent research into a project's viability and chance of becoming a profitable investment in the current market climate including competing technologies and their performance

[meanwords]

That's the reason why I do not use them as a legit way to inform myself about a certain project if it is good or bad but instead to inform myself about the list of all the projects out there that might have a potential to make me some profit. Never trust those ICO rating sites, they are bias 100%. Well thanks to them I guess that I'm informed about those on-going projects which then I do my own research.

[pgbit]

I never trusted ICO rating sites from day one for the simple fact that they are not even decentralised and the ratings are just done by people like me and you whose decisions can easily be influenced by money and this happens to be the case most times, although there a some reputable ones like icodrops, to be honest I basically just use it to check the ICO details and don't waste my time looking at the ratings, I do my own research.

[crossabdd]

good, 2017 then I relied heavily on ICOBENCH. but for a bounty hunt. in 2017 it was very helpful, I followed the ICOBENCH bounty several times with a rating of 4.0 - 4.5 and the results were very good. but after 2018 until now, that can't be relied on. as you say. Good ratings don't guarantee good projects, and bad ratings may be the best projects. so keep making a personal analysis. check whitepaper, telegram, partner, roadmap, team. it would be better than relying on the ICO RATE web.

[youdacapt]

I never trusted ICO rating sites from day one for the simple fact that they are not even decentralised and the ratings are just done by people like me and you whose decisions can easily be influenced by money and this happens to be the case most times, although there a some reputable ones like icodrops, to be honest I basically just use it to check the ICO details and don't waste my time looking at the ratings, I do my own research.

at least they participated giving their research results as supporting analysis when investors monitored certain projects, sometimes I even felt more accurate than them because of icobench etc. do not take into account the possibility that occurs when coins can be traded, the rating they write is the same as a book cover with temporary exclusivity.

[d3nz]

Don't rely on this kind of website and those ratings ard just fake and they are paid advertiser and trusting them is like you want to spend your money to loose. It would be much better to buy those popular cryptocurrency and trade them.

Trading those popular altcoins and trading is much worth it than investing in an ICOs and waiting for them tk be listed on exchange and less value when you sell them is like a scam to me. That's why i don't invest any more on an ICOs and only joining campaigns that has free tokens.

[Hippocrypto]

This is good advice, don't simply invest based on a top rating sites review of an investment opportunity like an IEO or STO always do your own independent research into a project's viability and chance of becoming a profitable investment in the current market climate including competing technologies and their performance

Is there any website aside from icobench? I guess it's not effective to get good results from them these days. However, investing to any of those promoted projects coming from them cannot be a reliable source of any legitimate one due to some factors like it was paid by most of project developers who've registered to it.
Hopefully there's a fair and honest results who really monitored the actual progress of each project, without any biased information, and I do expect any site who can handle smoothly.

[Dart18]

Wow! Thanks for pointing that out.
It never occurred to me that it could really happen.
So, advertising with them is just all about the money too. That is sad.

I guess we should not really rely on this kind of rating which is just their opinion and not the whole crypto population.
Well, there is always a telegram to contact an ICO management. That way it will be more reliable.