How to avoid ICO scams

Hi Folks,

Cryptocurrencies and their usage are increasing day by day. Every day new companies are coming into the crypto world. In 2017, you can find more than 10 ICOs active at a time.

To avoid losing money is more important than earning money

We know that crypto market is very volatile. ICOs are even riskier. But considering below mentioned will help you to avoid bad ICOs -

• All it matters is the IDEA

  Nowadays many ICOs are just creating wallet, payment tool or just another same repetitive thing. The idea must be good and it should solve public's problem. So always fall in love with the idea and the vision.

• Do read whitepaper

  If you are techy, you must spend few hours to understand the white paper. Even if you are not, try to consult a techy friend or try to grasp as much as you can.

  Whitepaper is not a PPT.

  It should have an overall vision, existing problems, implementation details, loophole handling in it.

• Check Slack, Reddit, Telegram chats

  You will get a fair idea about the popularity of the project. You can talk to developers and promoters if you have any doubt about the project.

• Do check GitHub page if it's code is open-source [For Techy]

  If you are techy, check stars, forks, commits on the repository. It will give you a fair idea of developers efforts.

• Always remember ICOs are very risky

  You like the idea, the team is very good; now what?

  Don't invest what you can't afford to loose.

Don't get too motivated by some random ICO post and random user's advice. Always do your own research.

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Happy Investing!
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