What Is the Difference Between Legitimate ICO and a Scam?

There has been a major development and boom in ICOs in 2017 and clearly we can see the upward trend in 2018. During the last year, $ 4 billion were raised. There has been a major development and boom in ICOs in 2017 and clearly we can see the upward trend in 2018. During the last year, $ 4 billion were raised. This caused a lot of excitement and interest in Initial Coin Offerings (ICO) platforms. Also, this has made ICOs vulnerable for scamming activities at the same time.Hire ICO Expert. if you are planning to build an ICO for your projects. They make sure, investor get to know everything of his interest.

There is confusion related to what are ICOs? How to launch a successful ICO? What should be in smart contracts? Do ICOs follow any regulation etc. Provided the fact that blockchain technology is new and there is still lack of information or accurate information, companies are learning from upcoming ICOs which are popping up with relative speed.
Read on to get to know what are the basic differences between legitimate ICO and a scam.

Team profiling, being an investor you should check the profiles of the project team. ICO teams are composed of developers, designers, lawyers, etc., do check their backgrounds by thorough vetting.

Legitimate ICO teams mention their profiles on their website landing pages and whitepaper too. Sometimes you may find a list of team members who really seem like a strong team but never forget to go for the background check.
LinkedIn and Twitter are two powerful sources for research. Do not just check Twitter accounts of the CEOs,
developers etc. but look for the comment threads, and who do they follow. On LinkedIn countercheck profiles, past experience, recommendations, connections and the recent activities.

There are fair chances that you will find fabricated online personas, such profiles can be spotted easily with carefully monitoring. No doubt, it will consume good amount of time.

Whitepaper, proper documentation of ICO project based on Blockchain Technology, its timeline, how the allocated funds will spend, smart contracts, toke design, wallet development, - all are part of the ICO whitepaper. An investor should go through it for once. This will help an investor check business model and the utility of tokens. Ensure if they are following industry best practices.


By: Haider Aly

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Article Tags: hire ico expert , ico , blockchain developer ,

Submitted On Jun 21, 2018. Viewed 58 times.

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