Identity Verification Service for ICOs scam - Shufti Pro
United KingdomUnited KingdomCanadaChinaGermanySpainSwitzerlandRussiaUnited Arab EmiratesUnited StatesNew York
Identity Verification Service

Warning signs of scam in ICOs

There is a distinct lack of secure identity verification service(s) usage in ICO market. The instances of elaborate ICO 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 ICOs investors, is continuous and not a one-time thing.

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


Signs of scam 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 includes 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.

Avoid multi-tiered marketing arrangements: If a venture is offering unrealistic gains or revenue then it’s 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.

Lack of details: 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.



What is Identity Verification Service?

KYC as a standard has been implemented to ensure secure communication between service providers and end users.

Perhaps the most basic step to take against restricting scams is employing KYC solutions. Due diligence is required in order to identify any illegal activity that may take up against your server. More and more host sites are referring to online identity checks. The common demand is a service that’s cost-effective and generates the results in real-time. Shufti Pro is a state of the art SaaS.  It serves this very need. Its quick, reliable and thorough in its processing. The databases are saved in an encrypted back-house. Offering services in more than 200 countries with multiple global offices, supporting 150+ languages, it’s a user-friendly & refined technology. Shufti Pro aims at revolutionizing the digital era by ensuring every bit of protection when it comes to digital assets.

Thus, this software is your best bet against fighting ICOs scams.