How to check if an ICO is legit
Hello Steemit Community!
There is a lot of new ICO's every day but not everyone is legit and they just want your crypto. I found an interesting website that analysis ico's in different fields like smart contract, public code, real team members, vesting, transparent, etc...
They do a full review of the most hyped ICO's, taking always the "worst" approach, meaning they only watch the red flags, this is important because you need to research the cons and not only the pros in every project. Some are false positives but you can get an overall picture of the fields they are not very good.
One thing that they don't talk about and I think is very important is the public appearance or online, which means if they have AMA's on youtube or they have meetups to "show their real faces", because a lot of ICO's can simply create fake profiles and fake experience and scam a lot of people.
Investing in ICO's are risky and you shouldn't never invest money that you are ok to lose, make a deep research before investing.
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One way to examine ICOs is to do good background research of the people involved. If there is something slightly shady in their history, watch out!
For example, there was plenty of shadiness with the guys behind the Centra ICO, but everyone swept it under the rug and pretended everything was super-legit. We all know how that worked out.
Very important point! I remember saying some fud articles about the team background but nobody paid attention because the ICO was shilled by Floyd Mayweather.
Thanks for the comment