It has become a sad experience how ICOs of today are full of scam. The question is, how do we tell an ICO is real or scam? Let's be careful.
Yes! these are few sign that an ICO is a scam,
1.No Roadmap or Unrealistic Roadmaps.
Initial coin offerings will generally provide potential investors with a detailed list of what they have achieved thus far in the development of their project,
as well as what they plan to achieve, in the form of a roadmap. If a project doesn’t provide a roadmap at all, then it’s highly likely that they don’t have any plans for the future apart from “exit” and “profit”.
2.No white papers or poor white papers.
A white paper is the most important element of any initial coin offering. In a white paper, an ICO will present an outline of what it plans to achieve, a breakdown of how the technical aspects of the platform function, and delineate its token distribution model.
If an ICO doesn’t provide a white paper, then it’s undoubtedly a scam. Simply providing a white paper, however, is not a clear sign that an ICO is legitimate. Some fraudulent initial coin offerings pay online freelancers to write up hilariously bad white papers under the assumption that providing a PDF white paper document is enough to fool most investors.
3.Team members.
One of the essential elements to consider when assessing a potential ICO scam is the individuals behind it. A robust initial coin offering will present potential investors with a detailed team breakdown, listing founders, developers, advisors, security experts, and anybody else associated with the project.
A “team page” by itself, however, is now not enough to judge an initial coin offering as worthy. Many scam ICOs are now aware of the fact that their team composition will be closely scrutinized by potential investors and go to great lengths to create a believable fictitious team.