Lessons Learned from an ICO Buying Veteran
Have You Ever Bought an ICO and Could Not Wait Until it Landed on an Exchange so That You Could Dump?
Well, that is exactly how I used to play the ICO game when I first started buying into ICO's. The problem is that I have missed out on massive returns because I was not patient enough to hold my Crypto's.
My biggest example is Lisk. I bought into this ICO on the last night it was available on a hot tip from a buddy. I had no expectations because I had no idea what it was. When the ICO launched a month or so later I could not wait to sell my small pile of Lisk. I luckily made a good return on my money but that is small potatoes compared to what my returns could have been.
18 Months Later and Lisk is on an Absolute Tear.
I bought my Lisk for around $.17 at ICO. If I could have showed patience my return would now be a 49X return. This is not the only time this has happened to me but it is the one that hurts the most.
While I was at SteemFest I had a frank conversation with my Crypto Trading friend Toby Cunningham @tobydaniel2. He was telling me how he does not sell his ICO's. Lisk was one that he has not sold. I told him that I will adopt his method going forward. There is no logical reason for me to dump my cryptos post ICO.
Randy, You Could Sell and Buy More on the Dip.
You are absolutely right but instead of selling my stack I will just simply buy more on the dips and lower my dollar cost average. A perfect example was DBET. Post ICO you could have picked up some of the tokens for about $.025 on Ether Delta. I bought mine for $.10. Now those same tokens are trading for $.19. When I have the time I will learn to trade on Ether Delta and start buying these Cryptos at huge discounts. I truly believe Decent.Bet will moon so I will not be putting my stack on an exchange.
You are right but now a days it is very difficult to choose the right ICO because so many ICO in market and mostly have attractive words and website and nothing on ground any activity behind it.....anyway if you have any good ICO in view ...do share ....i will try to take risk this time....Anyway thanks for sharing your experiences ...GOOD LUCK for Future
These are the current ones I am participating in.
https://ins.world/
https://tigoctm.com/
https://ethlend.io/en/
which one is the best one in your view ? whats its potential? @hilarski
They all are totally different. I will invest equally.
I am aware that SALT is out of the ICO stage already but it's still interesting as a lending platform.
ok.... i will study and thanks for your kind recommendations
I bought this one as well.
INS sounds interesting. Do you think it will really sustain, get accepted, then land on exchanges ? I'm new to ICO world.
Nice post! What will happening, if someone resteem your post?
I've been accumulating Lisk for the past 5 months right before this little pop in price. I think this is just the beginning. They have some big news coming up...rebranding, partnerships, SDK. Still plenty of room to grow. I wish I got in at .17 though...that would be insane returns.
I have been waiting for the rebranding. They sorely need it.
.17 cents!!! I wish I had known about lisk or cryptocurrency in general 18 months ago. I bought a few Lisk about 3 months ago and just took out my initial investment worth of USD last night. Leaving me with a few Lisk still that I will hold onto for the long long term most likely. It almost always pays to hodl that's for sure!
I will be holding my ICO tokens but everything else is fair game. ; )
Haha, Its crypto so anything goes more or less! Just gotta have your exit points planned and not get too caught up in FUD or FOMO, thats my general strategy anyway.
Have a good one!
@hilarski have you considered a strategy such as waiting until the price triples, selling to get your initial investment back; waiting for another triple and selling half then leaving everything else? This way you will be able to move funds around and into new projects, realise gains and still maintain a holding in the project at the end.
If not what is you goal for taking profits out of these ICOs?
That is what I try to do with normal trading. Hodling is something new to me and I will be doing it with my ICO's only.
@hilarski,
That would be a good lesson for all of us! I am not an ICO lover but if I do I will keep remind what you said! Great article friend!
Cheers~
Nice to having some information. You'll be not putting your stack on exchange, and I am going to stack some for me :D
All ICOs are not safe heavens. So what you did was correct. Don't worry about the loss, be positive & think if it fails how it feels you ;) After all you are not a hodl person, you are a trader ;)
Congratulations @hilarski
Now you are in the MinnowsPower Loyalty Member List...!!!
Exceptional article with your ICO experiences...!!!
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nice meme, your face suited well for it :) learned lesson shared well. impressive article @hilarski
@resteemia
Profits are profits, hindsight is always clear. Fret not, crypto is still in its infancy stage so I'm sure there are still lots more profits to be made :) I'm still hodling my lisk ;)