The ICO landscape is filled with incredible opportunities where the right move can make you millions. It’s a never-before-seen opportunity to quickly and easily attract capital for development without sacrificing equity. But investors love it because the blockchain space is so virgin, the chances of landing a unicorn (or a narwhal, eh?) are extremely high.
But one wrong step can blow all your hard earned money, time, and effort sky high! For instance, despite boasting ultra-security measures, scammers managed to hack Enigma’s Slack and website, put up a fake offer of a token pre-sale and made off with hundreds of thousands.
Without a doubt, absolute security and confidentiality of each system’s channel are a must. Yet, investors should be proactive and do everything possible to protect themselves.
So, if you intend to take part in an ICO, be vigilant and ...
Fire Up Your Mine Detector
· Responsible companies always announce the ICO date well in advance. As such, surprise pre-sales, even at a very attractive price, should raise suspicions. If it’s too good to be true … it probably is.
· Look past the pretty wrapper. Investing in an ICO only because it has an amazing site or an active community is liable to get you blown up (and not in a good way). Think like a sophisticated investor and make sure their White Paper is more than just promotional fluff.
· DEX, DEX, DEX. More and more savvy companies are hosting their ICOs on a Decentralized Exchange (DEX) like the WAVES platform. These systems protect investors with an automated order-matching system that ensures you get what you're promised and the funds go exactly where they’re supposed to.
The world is experiencing a financial revolution the likes of which will change how we buy, sell and do business forever. But stay sharp and keep your wits about you! Navigate carefully and you’ll get to this Shangri-La in one piece otherwise … it was nice knowin’ ya.
So, what else do you do to stay protected from ICO scammers? Give us your thoughts in the comments section below and share this article with your friends/family to keep them safe too!
Here To Serve,
Diana Moiseenkova
Team Saske
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