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Cryptocurrency discussions / Re: how to know that ico is scam or legit ?
« on: February 27, 2018, 03:58:21 AM »
Few things I have picked up along the way to spot scam projects.
1. They promise huge returns and state a future price on their coin way above the current selling price.
2. Website has been set up recently and with no real way to find out who registered it.
3. Either no links to team profiles on LinkedIn or other professional sites, or brand new accounts with few endorsements and minimal connections.
4. Lack of (or poorly ran) social media channels, minimum should be at least two or three of Twitter, Facebook, Instagram, Medium, Telegram, Reddit etc.
5. Using the term 'blockchain' for the sake of it, no real need for the project to use it.
6. Coin/token distribution heavily waited towards founders/developers/early investors etc.
7. Lack of (or minimally detailed) whitepaper and roadmap, need to know what progress the team has made so far, and where they plan to take the project.
8. No open source code access available on GitHub or similar.
9. Stock photos used for team members or project details (can always back check them using google image search).
10. Project is too vague with no real information on what they are planning to do and how they are going to do it.
11. Google the project name plus review, and be aware that many of the reviews will be paid reviews.
12. Bottom line is do as much research as possible, it is your money you are going to be investing.
1. They promise huge returns and state a future price on their coin way above the current selling price.
2. Website has been set up recently and with no real way to find out who registered it.
3. Either no links to team profiles on LinkedIn or other professional sites, or brand new accounts with few endorsements and minimal connections.
4. Lack of (or poorly ran) social media channels, minimum should be at least two or three of Twitter, Facebook, Instagram, Medium, Telegram, Reddit etc.
5. Using the term 'blockchain' for the sake of it, no real need for the project to use it.
6. Coin/token distribution heavily waited towards founders/developers/early investors etc.
7. Lack of (or minimally detailed) whitepaper and roadmap, need to know what progress the team has made so far, and where they plan to take the project.
8. No open source code access available on GitHub or similar.
9. Stock photos used for team members or project details (can always back check them using google image search).
10. Project is too vague with no real information on what they are planning to do and how they are going to do it.
11. Google the project name plus review, and be aware that many of the reviews will be paid reviews.
12. Bottom line is do as much research as possible, it is your money you are going to be investing.