Post
Topic
Board Altcoin Discussion
Re: Scam coins everywhere.
by
AmyMartin27
on 14/08/2018, 10:42:47 UTC
Please be grateful to you and those who have encountered fraud. I would like to share some of the experiences of prevention:
Signs of some potentially fraudulent ICO: lack of wallet and unclear or impractical goals, anonymous developer. The development team has no outstanding biography, or biography is not true.

The ICO has been around for several years in the cryptocurrency community. Most of these projects are mostly red flagged and by detecting you can avoid potentially risky companies:

The development team of the project is either anonymous or not well known to the community, nor is it prominent in their information. If the ICO that there are people with no reputation does not have the experience and the information is inaccurate then the likelihood they are making the possibility of a scam ICO is enormous.

No donation wallet for donations. If all the contributions of donors are concentrated in the hands of the project owner, there is nothing to prevent them from running away with money.

Target is not realistic and unclear. When a project has no clear, realistic pathway, it means that the people behind it will not know what to do to develop the best project. Worse are they do not really care because they do not really do anything.

Lack of transparency. Today, showing the stages being performed in your project to the audience is considered an industry standard in crypto. If developers do not release code, demo / beta versions of their product, behind-the-scenes video or other types of reports on their progress, maybe they have nothing to show.

If you have found an ICO campaign that displays any of the above, and especially any combination thereof, it is best to avoid contributing money to it.