In the blockchain space, we see many new campaigns to raise fund (crowdfunding) which offers new type of tokens in exchange of ob bitcoins or ethereum. It is becoming so common that a new one is being launched every week until it is hard to tell the good apart from the bad. Listed below are the criteria you need to consider before buying these tokens.
The project goals (Is it realistic or not?).
A scam project will often make bold claims about their aims and objectives. For an example, the project aims to end global warming through blockchain. If it is hard for you to understand on how their project aim to do this so please stay away from this type of ICO.Team members.
Who are they? What is their reputation?Project Roadmap.
What are they planning to do in the next few months or even year. A good project often has a clear project roadmap and what are they trying to do in the future.Whitepaper.
Do they discuss the technology behind their project? Do you understand how it works after reading the whitepaper? Do they even understand their project? If not, this can be a good sign of another ICO scam that you need to stay away from.Code repository
In order to show that their project is legit, they need to provide their link to the codes. Github, sourceforge are a few starting sites!
Stay safe and don't lose your money!!!
Thanks for this very valuable information. Keep up the good work.
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