How to Identify Cryptocurrency and ICO Scams
• Fraudulent ICOs and sketchy coins and tokens abound, but there are many ways to help ensure that you avoid these potential scams.
• One of the best ways to protect yourself is to thoroughly research the individual team members of a project before you invest.
• A cryptocurrency or ICO whitepaper is the foundational document for that project. Companies that don’t offer whitepapers should be avoided at all costs. Make sure you read and analyze the whitepaper carefully.
• Any ICO will depend upon a token or currency system in order to facilitate the crowdfunding process. Legitimate companies and endeavors make the system itself and the progress of the token sale easy for potential investors to view. Watch token sale figures for the ICO over time.
• Overall, be extremely cautious as you look for new investment opportunities in the ICO and cryptocurrency spaces.