How not to catch SCAM?
Recently I came across a good article about how not to select the SCAM project for attachments. Now I am engaged in the fact that I study the market of cryptocurrency and try to understand how to make money on it.
To be honest, at first everything seemed to me to be SCAM. The very idea of sending your real money, which I can touch and buy for them something to someone, so that they have credited me with coins that are not the fact that they will sometime be valuable in the market. But a little understanding of the topic realized that cryptocurrencies are the same investment only in more virtual things.
I was engaged in investing. Mostly in real estate. And as a man "mundane" in all senses was afraid to give money for the imperceptible. After reading a bunch of information, I found the main indicators of how not to do it for the first and last time.
The evaluation of any ICO project is based on an analysis of its four fundamental components:
- Legal status of tokens
The project team must be checked for the truth of the relationships. This means that it is not easy to look through the profiles in social networks, but to search for common acquaintances, real performances of participants at exhibitions and conferences, their connection with advisors. It happens that scammers take photos of people who do not even have a relationship with them.
Evaluate the technology is extremely difficult, especially if you are not an expert. However, even here there are a number of effective methods: if the source code is open, you can simply google it for matches. In addition, there are many channels in the slack / telegram, where developers, professional crypto investors and analytics of technology blocking (for example, t.me/bitfund) communicate, in general, they willingly share their opinion.
The skylights are distinguished by too bright forecasts and, often, almost unrealizable project terms, the lack of actual activity.
So, keep an eye on the stage at which the implementation is now.
Legal status of the token
It is necessary to understand on what blockchain the tokens are created. And is there anyway. In the end, if we see that the tokens are created using the "buy cheaper - sell more expensive" system and there is nothing else for them: bonuses, share of participation, reverse repurchase, and so on, this is another reason to think about the feasibility study and its adequacy.
These are the conclusions. Now I'm working on the project, of which I spoke earlier - Boosteroid. Have you ever faced with SCAM? What do you advise?