It seems like new ICOs are still coming out of the woodwork I now see some in pre-launch till October! What? Now product no real information just collecting money for a coin that has nothing to back it up and either based on Ethereum, bitcoin or Monero and really offer nothing new other then perhaps what market they want to cater to.

Catering to a market is nice however you have to also realize that limits the population of which would use the coin as well as if there really is any type of need for a coin in that market in the first place besides bitcoin.

We have seen in the past many of these ICOs being areas for scams, pump and dumps and a few with legitimate goals behind them.

When investing in ICOs you also need to understand that tracking is nearly impossible because it is not a regulated industry like your dollars would be when investing in companies via stocks. There is nothing holding back someone from hiding their idenity or using a fake one to pump a coin, collect millions and run away with it.

Do your research and homework and be very careful with your money. The more of this scamming that goes on is going to drastically hurt and perhaps kill the entire crypto currency ( digital currency ) marketplace.

What are some things to look for?

1 Forums are a good place to start there are many which will have honest information and opinions such as background history on the person or persons behind a new coin launch.

2 Review the site and how the ICO is being offered. Are there crazy huge bonuses for first time buyers such as 50% more coins? This often is a sign of a pump and dump coin which has no goal far in the future.

3 Review the site for whitepaper and other information about details of their goals and spend time to read though it. See if there are target dates and if any have pasted do a little research and see if they are on task still.