As a newbie in the crypto space, I’m trying to get my head around ICOs. Could someone guide me on what warning signs to look out for that might indicate an ICO project isn’t legit? I’m worried about scams and losing my investment. Thanks!
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A big red flag is if there’s no whitepaper, or it’s very vague.
Check for fake team members – reverse image search their photos!
Transparency is key. If they’re not open about their goals and progress, be cautious.
Community feedback matters. Look at forums and social media to gauge public sentiment.
Remember, always invest what you can afford to lose and diversify your portfolio to minimize risks. Stay safe out there!
Beware of pump-and-dump patterns.
Smart contract flaws can be a tell.
Tokenomics should make sense; if not, question it.