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Seven simple tips how not to become a victim of ICO-scammers

ICO-LIST-Seven-simple-tips-how-not-to-become-a-victim-of-ICO-scammers

Despite the increase in the number of scammers, seven simple tips will avoid losing funds when investing in new projects. This information will help you quickly assess the potential prospects of IСO in terms of investment safety and significantly reduce your time spent on analysis. We do not rule out the possibility of the appearance in our listing of projects aimed at collecting funds only. Therefore, all our ratings are estimates of community members and show just recommendations to the authors of IСO.

ICOLINK.COM does not sell ratings and does not involve outside experts. Due to this, we suggest that you independently evaluate the financial prospects of an IСO. In our opinion, it is the best way to avoid fraud.

1. Study the profiles of the startup team members on LinkedIn and other Social Networks

It makes sense to carefully study the profiles on LinkedIn of key project participants (founders, managers and advisors) and try to find out on open sources real stories of their previous work experience. More credibility looks the ICO indicating on the pages of their website and in social accounts the real addresses of offices and real contact information.

2. Check the applications

Read between the lines when it comes to the statements of project representatives. Before investing in the ICO, check to see if the statement of the project's representatives is unfounded.

Read the Media topics linked on the ICO website and check the ratings on the main ICO Listings (some of these ratings are paid, some are not, so treat them as average indicators, which together can warn against investing in dangerous ICO).

3. Invest only in the existing product

Stay away from ICO, which do not have at least a minimal working version of the product. We are talking about a viable service that should have a map of technological development and be at a certain stage of development. Do not invest in companies that just offer an unsupported ERC-20 token.

4. Be wary of small projects

A low collection threshold for ICO does not mean that it is not fraud. On the contrary, this may indicate the desire of criminals to provoke trust and attract as many investors as possible within a short period of time. Often in this case, scammers try to manipulate investors, speaking about the high price potential of the token.

5. Be wary of financial pyramids

Try to avoid investing in projects offering attractive bounty programs with network marketing features, reminiscent of their structure, financial pyramids.

6. Do not believe false promises

If a new startup emerges from nowhere, and its team emphasizes its revolutionary nature and promises a significant return on investment in the shortest possible time, you should study the project more carefully before investing in it. Fraudsters are excellent at throwing dust in their eyes and operating with a thirst for quick profit.

7. Carefully study the Whitepaper

When reading a Whitepaper, pay close attention to the Disclaimer, quality of the texts, the adequacy of the market and competitors analysis, and also the accuracy and clarity of the proposed product description.

Be careful with participation in ICO-projects, do not accept all statements of startups on faith, independently research the work of the company and trust your intuition. 

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