Most of time, we can not identify a scam until end of the ICO. I participated in a scam one. Not even a bad sign to identify it early. After I did many bounty tasks everything was wasted because it was a scam. Because of this I made a list of elements that can help you find legit ICOs and Bounties.
- At the first, the bounty manager.
I usually participate on Bountyhive or amazix. My best choice until now is bountyhive, because they are doing good research for us and their bounty platform is easy to use.
Be careful if you do a tokensuit bounty. Their bounties are good. But keep track of the thread. The chance of not having your reward is high. It can happen by a tiny mistake you did, and it can not be identified early because they do not update the spreadsheet regularly.
I do not trust new bounty programs posted by new users on bitcointalk forum. Before you participate in this type of bounties, you need to spend some time researching the white paper, team, roadmap, website and community of the project.
The team
Project team should have a related background and experence in the crypto world. Remember to ensure that the team is who they say they are and that the website and social media are looking proffesional. Some scam bounties use some experienced people and their photos in their bounty programs to cheat us.Project concept, Website and whitepaper.
The website and project concept can give you some hints into how serious a project is, but te most important things to check are the whitepaper and the roadmap. Check what kind of alghorithm the coin has, the total coin supply and what is the main product or problem that the project solves or offers. How far are they in their roadmap? Did they met the previous goals that they set?Bounty details.
Take look at rewards system, tasks you have to do. Scams asks you to post, share things like spam. They have a short term mindset so they just need to advertise and sell as much as possible and then collect the cash.
Hope this will help anyone!
