All I hear about is that ICOs are scams and you need to watch out... Can someone explain why so many of these things are scams? What percentage do you think are legit businesses?
very few are legit business, not also legit or not but many times there are very bad projects without whitepaper, or without developers
just thimk about it
in order to set up a ICO you need money and a website
before investing in ICO study a lot and analize the team behind it, the community etcetc
Here a good article I found about scams:
https://medium.com/@CryptoTutor/famous-scams-in-the-cryptomarket-623e0ef53b60