xDAC (XDAC) – ICO

xDAC (XDAC) – ICO Review and Financial Analysis

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Is  the  xDAC (XDAC) – ICO (Initial Coin Offering) a  Scam or NOT ?

Unrealistic  xDAC (XDAC) – ICO (Initial Coin Offering) goals ?  If an ICO makes bold claims without an economic plan or roadmap to support it, it’s best to avoid investing. Further, even if the team has offered a roadmap, you have to do your own research and judge the feasibility of the project.

Is the  xDAC (XDAC) – ICO (Initial Coin Offering)  whitepaper a real Buzzword salad , and looks to good to be true , but when you actually sit down to digest it, this ICO taste like vague claims and empty promises ? Let us know what you think , and let them know what you feel about their ICO  .

You do not only want to see a very thorough whitepaper, but also look for a variety of complementary resources such as SWOT analysis, financial model, wallet design, competitor analysis, institutional studies, and more .

Before you invest your funds in the xDAC (XDAC) – ICO (Initial Coin Offering) , you need to take a moment of introspection to reexamine why you are investing in the said cryptocurrency. Are you buying into the xDAC (XDAC) – ICO , because it has strong business fundamentals or because the sales pitch make you feel good? You should also avoid buying into the xDAC (XDAC) – ICO   because the marketing pitch is always in your face through ads, emails, social media, or an unrelenting friend.

Jordan Belfort , the real ” Wolf of Wall Street ” has claimed that Initial Coin Offerings like xDAC (XDAC) – ICO   , are the “biggest scam ever”. ICO’s involve a company selling cryptographic tokens instead of shares or raising debt when starting up. These tokens can then be traded separately or back to the company for a service, for example, tokens will allow you to play a game or send a message on a platform. If the service proves the popular the coin is likely to increase in value. However, the absence of legal guidelines in this new and unregulated field has led to many ICO scams. That is the reason you must beware of  xDAC (XDAC) – ICO .

What Is An ICO Scam?

Due to the lucrative returns investors have been making in the cryptocurrency world, there has been an enormous rise in the amount of people looking to invest in ICO’s. Unfortunately, what comes with this surge in popularity, is scammers looking to benefit from vulnerable investors.

Before we get into outlining how to tell if an ICO is fake, we must define the word scam.

Scam
A dishonest project, carried out by untrustworthy people, that is completed in an attempt to steal something of value from another person

Using this definition, one could make an assumption that an ICO is deemed a scam if:

  • The ICO has a lack of trust – for example, the team appears fake or non-existent
  • The ICO comes across as a dishonest project – for example, the sole purpose of the ICO is to steal an investors money

According to ICO quality research by Satis Group, a scam ICO is:

“Any project that expressed availability of ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.”

Is there a beta version of xDAC (XDAC) – ICO project ? Is there a launched product with limited functionality? Prefer projects which have “some lines” of working code, however, many  ICOs have proven they can become success stories without any code written.

Why isn’t Bitcoin or Ethereum enough to serve as the xDAC (XDAC) – ICO project’s token? Yes, many projects just make up a scammy story. Hey, an ICO can’t be an Initial Coin Offering without a dedicated token. The same question needs to be asked regarding the use of the blockchain technology behind the project.

Greed can be defined by a high token distribution to the team members, let’s say, more than 50% of the tokens is suspicious. A good project will link its token distribution to the roadmap. Because each phase or milestone of the project requires a certain amount of funding.

Another discovery made by the Satis Group is that 81% of ICO’s were scams, this highlights the actual fact of how rampant ICO scams currently are. The main reason for this is the lack of rules or regulations in place to identify a level of legitimacy amongst ICO’s.

Some countries however, have begun to tackle this issue and started creating or ideating rules and regulations to cover the space. The United States is a clear example of how ICO regulation is changing within their country. This can be seen in the SEC’s recent public statement on cryptocurrencies and ICO’s.

This public statement by the SEC has recently been backed up with the ICO scam arrest of Centra founders – Sohrab “Sam” Sharma and Robert Farkas, after their Floyd Mayweather backed ICO was charged with fraud.

 

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Is there a strong business case for xDAC (XDAC) – ICO (Initial Coin Offering) technology ?
Missing xDAC (XDAC) – ICO code repository: This is another sure shot method to spotting an ICO scam. If the company is unwilling to release its code to public repositories such as Github, avoid the ICO altogether.
You can have the wrong impression that Your xDAC (XDAC) – ICO   investment is extremely liquidatable; and that you can cash out whenever you want, which makes this space quite distinctive and exciting. Please combine this with your typical individual who understands little of investing and only throws money at things. Hype fuels a good deal of gains in crypto’s which adds more danger, as any marketing firm can tell you Hype can be bought or created artificially….and you get scammed like a baby !!

So, what are the distinguishing features of an ICO scam? To answer this question, we felt it was necessary to ask our followers. So, we held an ICO scam poll on Bitcointalk and a quick poll on Twitter.

When evaluating the xDAC (XDAC) – ICO (Initial Coin Offering) , the good first question to ask is: “Do they need a blockchain or a native token for this project?” The answer is no to both, chances are the ICO project is an example of solutionism — crypto for crypto’s sake — or a scam.

Thinking up a product like xDAC (XDAC) – ICO , is not the same thing as creating it. Startups like xDAC (XDAC) – ICO   , very often “burn out” when faced with unforeseen problems. Someone goes bankrupt after launching his startup, while someone else doesn’t launch at all.

If the ICO is, by any means, anonymous or do not gladly advertise their team, it is an absolute NO GO for me. The one thing people have to loose when scamming other people through (Initial Coin Offering) s is their reputation. One can argue that they can loose time, but so many companies make it so easy to issue anything nowadays that it isn’t a factor anymore. So if they do not stake their own identities in the project I don’t advise you to count on them to take it seriously.

Type Of ICO Scam

At Netcide.com , we tend to find that ICO Scams come in two forms.

  • Intentional scam – An ICO created with the sole purpose of raising money as quickly as possible, without attempting to complete ICO objectives or the project in its entirety.
  • Unintentional scam – An ICO that is (unknowingly) attempting to complete an ICO that is fundamentally flawed (from technical, business and economic point of views). As a result, investors are fooled into believing the ICO will be successful and lose their investment.

Please Note : fake ICOs make vague claims. Usually, they will claim that they can get huge gains within short time but cannot back that up with substantial claims, or make weird claims like they will finally end all the global crises in the Initial Coin Offering world of computers and digits. Actually, xDAC (XDAC) – ICO (Initial Coin Offering) , instead of giving details of the project for anyone to assess and scrutinize, they are more fascinated with projections of a better future and better market prices and gains.

Learning about the idea of  xDAC (XDAC) – ICO   is the first approach, and the first series of questions would include: what do they intend to achieve, what problems are to be solved and how will they solve the problems. Underlining these questions, investors are driven to source for information either through their website, technical papers, social media pages and through review websites. The following are some of the key areas where answers to the questions can be found:

xDAC (XDAC) – ICO Goals and Objectives, looking through their documents, the goals and objectives of the projects are usually pointed out to help investors understand their vision and the concise version of the undertaken.

xDAC (XDAC) – ICO Technicality; whitepaper, proof-of-concept, Use-case / feasibility and Roadmap, all contain important data and say a lot about the enterprise. The white paper will show that the venture has a well thought through idea about what they intend to do. It usually contains the written explanations and other important information the investor might be interested in. Some even go as far as including snippets from their project source code or including graphical illustrations and flowcharts. This can be likened to the business plan in most contemporary real-world startups.

How To Spot A Scam ICO
Misleading Information
  • Plagiarism: check privacy policies, KYC policies or whitepapers with a free plagiarism checker to identify duplicated (and therefore) misleading content.
  • Take note of typing errors throughout the ICO landing page/whitepaper and spelling mistakes within domain names.
  • Crooked investment techniques: ICO’s falsely claiming that the presale has already sold out, but there’s still one final chance to invest (For a limited time only). This is a genuine marketing tactic, but should only be used legitimately, i.e. when something is genuinely sold out and there’s a limited time left to buy.
Ponzi Schemes
  • These fraudulent projects will promise investors high return and little risk. If something seems too good to be true, it probably is and you should investigate further.
  • Ponzi scheme example – BitConnect is probably one of the most famous ponzi schemes within the ICO space. They claimed it was possible to make a 1% return in dividends every day for inviting others to join BitConnect.

xDAC (XDAC) – ICO Proof-of-concept, where available shows the investors or audience the ability of the developers to pull through with the project showing an already existing prototype or MVP (minimum viable product) previously achieved by them.

The xDAC (XDAC) – ICO use-case and feasibility study help the investor to assess the team’s originality, whether the concept being proposed is feasible or already has competing demands; this way investors will be digging deeper to investigate what will distinguish this new product from others currently being established.

Who’s behind the xDAC (XDAC) – ICO Project?

Supporters of any venture should also look out for who the representatives are, their qualifications, their experiences – especially previously success in the same field, what social presence they have, and if the team comprises of any advisor and well-renowned expert in the field they have chosen to implement the blockchain concept. Also, partnership structure can say a lot about the tokenized asset.

If the xDAC (XDAC) – ICO project has been able to secure collaborations from experienced and already established blockchain business or prominent business figures from venture capital, then you know they have achieved a level of legitimacy.

It’s a general rule never to invest more than you are willing to lose, therefore, if you consider the xDAC (XDAC) – ICO project and the amount they are offering as stakes in the startup, carefully observe the investment size. If it is outrageous, then you should consider investing as little as possible, while this is not such an effective direct tool in assessing the authenticity of a crowdsale, it does help reduce the amount of loss should the xDAC (XDAC) – ICO project turn out to be a scam ICO .

Escrow Account
  • The escrow is used in ICO’s to keep investors funds protected during an ICO and assist in the process of guaranteeing a project isn’t a scam.
  • It is important to make sure that an ICO project you are looking to invest in has an escrow account in place.
    • The escrow in the case of an ICO is generally a three key multi sig wallet. For example, a team member cannot move funds from the escrow account without the multi sig wallet members permission.
    • You can check multi sig wallet authenticity using Etherscan.io
Token Distribution Disproportionately Favours Management Team
  • There is no set rule to the amount of tokens that the management team receive, however, an investor should be wary if this amount is pushing 30% or beyond.
    • The ICO costs breakdown should be very transparent which will give a good idea to how much each sector should receive.
  • One final thing you should identify in token distribution is whether the management team are required to hold their tokens for a set amount if time. In traditional finance this is known as the cooling off period and if there is no holding requirement, the ICO could be part of an exit scam, whereby the team simply disappears once the ICO is completed.

What’s their economic structure of xDAC (XDAC) – ICO ?

The primary reason for  xDAC (XDAC) – ICO   initial coin offering is to raise money to kick-start a blockchain enterprise. Other than this, the intentions can be suspicious. You can go through their prospective financial scope; you can tell if the team wants to put their bellies before the blockchain. How they intend to distribute their tokens, what percentage of stakes the developers or presumed advisors have in the entire budget are all markers to look out for.

Moreover, how will investors contribute their funds? Is there an escrow system set or will they be using a smart contract with multiple signature wallets? Who will the escrow be, and what are the conditions for fund transfer between escrows and developers.

Remember that tokenization of digital assets, coin offering, and cryptocurrency so far do not have legal backing and money could be lost through wrong investment choice. While the developer’s aim is to raise money to facilitate the undertaken, the objectives should be clearly understood by the investor, and their roles in bringing about the success of the project should not be ignored.

Lack Of Key Information In WhitePaper
  • Scam alarm bells should be ringing if the ICO has:
    • No white paper
    • A poor quality white paper, or
    • As previously mentioned, a plagiarized white paper
  • A white paper that is overloaded with cryptocurrency jargon or words the ICO is creating themselves, should raise a few red flags also.
  • Finally, take note if the white paper (and website) is focused on informing ICO advisors on how to buy the token instead of what the project is about.
No KYC (Know Your Customer) or AML (Anti-Money Laundering) Solution:
  • To prevent money laundering, organisations are required to carry out KYC and AML checks. If there is no KYC policy in place, be sure to find out why.
Team Identity Theft or Lack Of Credentials
  • An anonymous team or a team with little experience is a dead giveaway to identifying a scam ICO.
    ICO scam example
  • Recently, CoinRating received an ICO submission from Trade Bull Coin.
  • Team profiles for Trade Bull Coin, produced a high level of suspicion to our ICO rating team.
  • Their team members did not provide any further credentials and a quick google image search found their pictures to be stock photos.

Some people like to build parallels between ICOs and the IPOs of the modern technological era. But, this analogy is incongruent — the problem being that the great majority of projects behind (Initial Coin Offering) s can not present a functioning product or service.

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Any project you invest money in must be real right now, not in the distant future. Is this the case with xDAC (XDAC) – ICO (Initial Coin Offering) ?
The first rule of thumb when it comes to investment in new ICOs is never investing in them unless you have seen a working prototype of their product in action yourself. Ask yourself : is this true for xDAC (XDAC) – ICO   ?
xDAC (XDAC) – ICO   people talk how their token supply will decrease (basic cryptocurrency feature present in all coins) and the token price will grow. See how fat that rising bottom line is. This is all they want – an expensive token that will let them dump and exchange it for Bitcoin.

Avoid Initial Coin Offering scams by knowing exactly what you’re getting into each time.

You need to decide for yourself whether a new coin has the potential to take off, and whether the developers know what they’re doing. If you don’t have the know-how to make a judgment, you should probably avoid all ICO s.

If an Initial Coin Offering like xDAC (XDAC) – ICO , suddenly starts putting out a lot of hype about time limits and a need for urgency, then it is definitely something to watch out for. Many  ICO scams like xDAC (XDAC) – ICO ,rely on the so-called “FOMO,” or fear of missing out. So, the people behind these scams attempt to generate a large amount of FOMO in a very short amount of time with aggressive urgency campaigns. Then, once the (Initial Coin Offering) launches, they simply wait for FOMO to push the price up, and then sell. So, watch out for the xDAC (XDAC) – ICO urgency campaigns and Initial Coin Offering trying to capitalize on FOMO.

Poor Online Presence

A few easy to spot problems could be:

  • Inconsistent content posting across social channels.
  • Social handles across all channels don’t match.
  • Inactive posting on social and avoiding answering investor questions.
  • CEO/founder or social admin delays or avoids answering key questions.
  • Using fake followers or subscribers to create an artificial buzz. This is carried out with the intention of increasing FOMO buying. Often characterized by low engagement rates.
Empty GitHub Repositories

Cryptocurrencies are decentralised, which means the code for ICO’s is generally open source. Commonly, the code is then stored on GitHub

  • If an ICO’s github account is empty or non existent, query it. Reach out to the ICO and find out their reasoning for it.
  • You should not think about investing into an ICO if their code isn’t available for all to see.

Another sign of an ICO scam is that the developers are unable to clearly articulate a valid use case for the token. The token should serve a key purpose in the startup’s platform. If it does not, the token will not sustain its value over the long-term. Related to this problem are tokens that advertise themselves merely as digital currencies without offering any real innovations or improvements upon existing cryptocurrency technology.

Due diligence is the key when it comes to research in the upcoming  xDAC (XDAC) – ICO and the products they are offering. You cannot just rely on other people’s research, comments, thoughts or analysis. There are always individuals who pass off paid promotion content as their research.

The best thing you can do is to communicate with xDAC (XDAC) – ICO corporate executives involved with the Initial Coin Offering . In most cases, they are more than happy to provide valuable information to help you make your decision. Always be aware that the people you talk to at xDAC (XDAC) – ICO   , may not have the best intentions, so try to avoid sales pitches. Instead, focus on validating the xDAC (XDAC) – ICO   company’s existence and direction.

It’s becoming part of the ICO culture to post LinkedIn links along with the team’s profiles. That’s a good sign because shows us they’re not afraid to be contacted. In the past, scams posted real people’s profiles claiming they belonged to their ICO team when actually the person had no clue it as even going on. That’s why it is worth to at least check their profiles and make sure they mention the company that is launching the Initial Coin Offering . Otherwise it is an absolute red flag.

None of these tules are absolute truths. For example the Monaco Card team generated a lot of polemic because they didn’t have the Monaco brand on their profiles, but it turned out they had bureaucratic reasons for that and were yet changing the original company’s name to Monaco. Yet, as a general rule, teams should advertise their part in projects that seek to be crowdfunded.

Fake Wallets & Private Keys
  • Scam protection 101 – Do NOT tell anyone your private key. Some scam ICO’s have been known to ask for private keys to verify information. Please keep your private key to yourself. If someone knows your private key, they will be able to steal the contents of your wallet.
Unrealistic Claims

Like a ponzi scheme, scam ICO’s are prone to offering unrealistic ‘double your money’ projects. It is really about trusting your own judgement and verifying the ICO’s claims, but other unrealistic claims could include:

  • Cryptocurrency investment packages
  • Multi-level marketing (pyramid schemes)
  • Excessive use of multinational company logos without their permission. E.g. Visa, Mastercard, PayPal, McAfee and Microsoft..

xDAC (XDAC) – ICO (Initial Coin Offering)   will usually have an escrow to hold user’s funds during the ICO and after. So keep an eye out for the Escrow participants and the escrow conditions. This may save you some money. Do you think that the xDAC (XDAC) – ICO   startup is using the top Escrow service . And if it’s not, it can be a good indicator about the fact that this ICO being a non-authentic one.

 

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ICOs like xDAC (XDAC) – ICO   , are a cheap way to finance artificial development without any commitments. They are a scam in itself because there is no insurance on the failure to deliver.

Ask them the right questions before investing even one single dollar in the xDAC (XDAC) – ICO (Initial Coin Offering) . You do not get the right answer , let us know .

While there are definitely some companies building innovative things on top of blockchains (and in the crypto space generally), there are many fraudulent groups who are looking for a quick cash grab. The field can be even more confusing to navigate when malicious groups get celebrity endorsements. Surely a trusted face would vet whoever they support?

Each organization in an Initial Offer of Coins, must have a clear collection objective, which will give the necessary financial support to lift the development of the concept devised. Any other promotion that does not make clear these financing limits amounts and the time to reach it, possibly represents an investment risk and a scam warning.

Realize that even if a blockchain startup passes all of these tests, it doesn’t mean for certain that they aren’t trying to scam investors out of their money.

One thing that you should not forget to check on is what people are talking about the xDAC (XDAC) – ICO (Initial Coin Offering) which you are interested. If you have any doubt, you can simply put an open ended question on the forum asking people their opinions.

Stage of the project and VC investments

Evaluate the stage of the project. Does it only have  a whitepaper? A beta version? Is there a launched product with limited functionality? Prefer projects which have “some lines” of working code, however, many ICOs have proven they can become success stories without any code written.

VCs (venture capital) tend to invest and support projects from early stages. Look for this information usually on the main page of the project’s website. It’s likely to be considerable if a well-known crypto VC is involved, like Blockchain Capital or Fenbushi (belongs to Vitalik Buterin – founder of Ethereum).

Each project has its risks in greater or lesser scale, so when receiving an offer of participation in an ICO we must be aware of each of them. Otherwise, any organization that ensures a high return on investment or the growth of the project together with that of others in the ecosystem, would surely be a pyramid scheme.

What do they need the token for? Is the blockchain necessary?

ICOs mean the creation of a new dedicated token for the project. One of the most important questions each project needs to answer is what is the token for? Why isn’t Bitcoin or Ethereum enough to serve as the project’s token? Yes, many projects just make up a scammy story. Hey, an ICO can’t be an ICO without a dedicated token. The same question needs to be asked regarding the use of the blockchain technology behind the project.

Fake and scam ICOs are interested in making their project statements and paragraphs and websites look and sound great, so there is a lot of buzzwords and absolutely nothing new for the reader and potential investor to learn. It turns out that the combination of attractive words, facts and new information will make a text look and sound great in the full description of the word great.

 

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And no matter how alert you remain, there will be a few people in coming times who will con even the smartest of you but as the market matures, the probability of an ICO being a fraudulent one will decrease and ultimately reach a null value.

REMEMBER : If something seems like a scam, it probably is.
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We will make sure that every person ,that will search information on Google, about xDAC (XDAC) – ICO (Initial Coin Offering) , will find , first of all , your review . Our Reviews are top level ranked on Google, Yahoo and Bing , and we constantly show up on every possible search term , related to xDAC (XDAC) – ICO   .

You can follow discussions about xDAC (XDAC) – ICO projects on BitcoinTalk and see if the developers have had past projects as well as other details of their accounts. The forum could also mention scam projects or shady projects you need to shun. You need to go past that by asking and checking if the xDAC (XDAC) – ICO   developer is running multiple BitcoinTalk accounts to promote his or her stuff or check why that could be so…it happens.

Unlimited / Hard cap

In the early days of crypto ICOs, the difference between open and hard cap didn’t have the same impact as today’s ICOs. An open cap allows investors to send unlimited funding to the project’s ICO wallet. The more coins are circulating, the less unique your tokens become for the trading afterwards – through less demand.

As ICOs become mainstream within crypto land, enormous amounts are collected. Take a look at Bancor, this project raised an astonishing $150 million in just three hours. This resulted in no percentage gain for the investors. Keep that in mind when participating in ICOs with no cap.

On the other hand, you don’t want to be the only one investing in the project. Exchange’s have much less interest in projects that raise very little, which makes it harder to sell these tokens after release.

ICOs will become more and more ‘mainstream’ as a method for raising funds. There will be plenty of projects to choose from, hence it will become even harder to assess these projects.

It is key to investigate and read as much information as possible and write down all the important aspects, positive and negative, before making an investment decision.

In general, during the development of their fundamental business strategy, xDAC (XDAC) – ICO (Initial Coin Offering) , like the majority of Initial Coin Offering sturtups focus on attracting investments. Originally, they may not even care about the future elaboration or even operational processes of their products. They simply endeavor to encourage crypto-investors to buy their tokens actively within a certain period. Without a doubt, it’s the wrong approach. The reason being that all of this is extremely important for the future operations of a sturup as a mature business unit. These things will determine whether the price of a xDAC (XDAC) – ICO token issued by the company goes up or down at the crypto-exchanges. Obviously, xDAC (XDAC) – ICO supporters are waiting for 10x capital gain, but the majority of us do not care about the deadlines for a project release.

For a better confidence in the organization, we must be aware of the alliances that have established with exchange houses or are about to materialize in the future. The tokens that are acquired during the ICO must be exchanged for other cryptocurrencies or for Fiat money easily, otherwise it would be considered stagnant investment and at risk of being lost completely. In such a way that this condition will give us an idea of ​​how reliable the ICO can be.

Regarding the purpose of the project and the benefits it will bring, it is something that must be known in order to establish how viable and useful the project can be. Obviously any impractical or fanciful purpose makes it clear that it is a clear scam.

For anyone willing to invest in an Initial Coin Offering , please check the xDAC (XDAC) – ICO   project’s whitepaper for more technical and real information before moving forward. What you expect from a real ICO is high-level descriptions and specifications, step by step, about how the project will go on and how the technology works. You will get charts, calculations, simulations, formulas and other specifications. Some Initial Coin Offering scams will not reach that level probably because they target unsuspecting investors who either do not have time to read whitepapers or do not know whether one even exists. However, many do.

ICO — the hottest craze in cryptocurrencies — is an ‘absolute scam,’ Wikipedia Founder Jimmy Wales says 

On this webpage you can post anonymous reviews and complaints about xDAC (XDAC) – ICO .

If you have any kind of information about xDAC (XDAC) – ICO   , that connects them to financial scams , online frauds and investor’s complaints , let us know !

There are thousands of  ICOs like xDAC (XDAC) – ICO , even going on right now , but unfortunately, most of them are scams or fake and out to steal your money. Most of ICOs scams target first timers, but even experienced traders and miners fall into the scam trap.

The Wolf of Wall Street Thinks that Initial Coin Offerings Are ‘The Biggest Scam Ever’

Initial Coin Offering scams work in a similar way to that of Belfort’s penny stock pump-and-dump scheme, which entails a small group of investors buying an asset and driving the price higher by relentlessly promoting it. After the price has risen and more people have bought into the asset, the group will dump it and leave investors holding worthless securities. ICO scams work in a similar way, by driving up the value of coins before ‘dumping’ them for a quick profit. To give you an idea of how quickly such a scheme can happen, look at the new web browser company, Brave, whose initial coin offerings generated $35 million dollars in 30 seconds. There are now around 500 new ICO ’s per month. The chairman of the US securities and Exchange Commission believes that pump-and-dump scams are easier to carry out with ICO ’s because the trading in of tokens is electronic and largely anonymous, making it extremely difficult to trace and harder to catch the criminals behind it.

Lack of details in xDAC (XDAC) – ICO (Initial Coin Offering) : It’s an obvious red flag. If an ICO fails to provide technicalities and working of its product to potential investors and hosts then it means their product is not workable. Always make sure to check out public repository. To carefully judge the future of the business venture. It is best done through a secure identity verification service.

If a venture like xDAC (XDAC) – ICO   is offering unrealistic gains or revenue then its probable that they are deep in debt and trying to pay off old investors by scamming new. These scams also threaten the back-office as they infiltrate with malware on your interface. Every ICO has a certain risk. If someone offers no-risk venture then it’s probably risky.

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What makes these Initial Coin Offering scams like  xDAC (XDAC) – ICO ,  so much easier to launch in this technological age is partially due to the media excitement regarding crypto currencies. Belfort, as a penny stock purveyor, had to fight for attention whereas now ICO founders garner time on high-profile media outlets and in some cases even celebrity endorsement. Sites such as Twitter have made advertising a novelty currency much easier. “Promoters of  ICO’s are perpetuating a massive scam”, says Belfort. He admits that it is likely most people don’t have bad intentions, but if they do it is a ‘disaster’.

The White Paper is of vital importance to determine if an ICO is fraudulent or not, so it is one of the first searches that must be done on the official website to identify how structured the project is. A good analysis of the competition, a defined financial model, wallet design, roadmap, SWOT analysis and institutional studies are some of the issues that should be present in a quality White Paper.

There is a distinct lack of secure identity verification service(s) usage in ICO market. The instances of elaborate Initial Coin Offering scams in today’s digital market can’t help but argue whether it is still smart enough to engage in the field. The rise of exit scams, including the disappearance of founding teams with chunks of capital  is alarming. It crushes the reliability of cryptocurrency and its sources. The question surfaces: if even apparent genuine crypto platforms can turn out to be a scam, how does one verify whether to trust a cryptocurrency startup. One thing is certain – digital verification, for (Initial Coin Offering) s investors, is continuous and not a one-time thing.

To be aware of this, the organization must provide a schedule of actions and development, goals with dates set to be met and similarly tests to be made of the progress made from time to time. The publicity and the openness of the developers with the community will help keep track of the progress they are making.

All these aspects can help determine if an ICO proposal is intended to implement an authentic project or if on the other hand it is a scam that seeks to get the money from investors and the community in general.

Apart from detailing the previous aspects, in order to ensure the legitimacy in terms of the organization, as well as the concept or idea to be developed in any project launched through an ICO. It is also important to evaluate how beneficial it would be for investors to participate in the project, in order to obtain a profitability consistent with the contribution we make and with the evolution that it may have in the future if it is managed under the long-term scheme.

For this, we must also take into account some variables related to the previous points, but also, also with other aspects that are perfectly detailed in this article on the keys to evaluate investments in ICOs.

False URLs: Your first line of defense against  ICO scams is a secure, protected connection. Avoid any incriminating appearing links. It might access your database through malicious route. Make sure that any information such as offered market price, is similar to the one being officially given. Check multiple sources to vet the figure. Avoid “offers” and “discounts” as they cannot be authenticated via ID verification.

Phishing in ICO marketing: It is the oldest form of scams. Fraudulent teams reach out to potential investors with designed emails to acquire personal information that include bitcoin wallets credentials. They impersonate everyday brands like Google or Facebook and send out scamming bots in encrypted emails. Avoid it by simply marking false appearing emails as spam. Use search engines to verify online presence.

Let’s face it, cryptocurrency is baffling to begin with. An attempt to secure it against scams is just good sense.

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