Decomposing a scam ICO #scamico

How do some “entrepreneurs” try to get your money as quick as possible? By showing you what you want without really giving it to you.

I just discovered a new ICO called the Monaco Card. Here is the description on their Twitter profile: “World’s best cryptocurrency card — the Monaco VISA®. Spend and send money globally at perfect interbank exchange rates.”

So what you want is A. a VISA (not just a card), B. a card that works all over the world, C. a card that is THE BEST (whatever that means), D. perfect exchange rates (whatever perfect rate means) E. you would probably also like to live in Monaco and be filthy rich

Do you also notice notice how many ambiguous but exciting terms they use?

One more scam technique they used is announcing their ICO suddenly before anyone barely knew about the project. So it makes you feel like there is limited time and you should grab the opportunity right away.

Be careful anytime you invest in an ICO. Some projects are great but unfortunately most of them just try to take investor’s money, your money and then dissappear.

Those #scamicos can buy some adspace or be featured on sources like cointelegraph or coindesk, which is kind of sad because your source of valuable crypto information is delivering you scams at the same time.

Be careful and invest wisely.

Monaco Card #yousuck