How to choose an ICO! Part 2
I made a post about this topic earlier but realised that I needed to add more to it as it felt a little incomplete.
Choosing an ICO means that you will be investing some your capital into it so I wanted add more points you should look at before even considering to invest in it.
As I said in my earlier post that
Initial Coin Offerings have been the best source of fundraising for the new digital currency startups.
Initial Coin Offerings started in July 2013 for the first time when Mastercoin started first token sale of its tokens which were based on ethereum blockchain.
They raised $2.3 million in 12 hours which accounted for a total of 3700 bitcoins at that time.
Initial Coin Offering is a means of crowdfunding mainly revolving around cryptocurrency which has became the source of raising capital for the start-up companies.
Investing in ICO's was very profitable when they first started and with time the profit percentage kept on decreasing but if you choose a good ICO, you can get huge returns.
The points I touched in the first part include :
Reading the whitepaper
Knowing the team
Knowing the concept
Marketing
Technology
So lets dive deep and look at other perspectives you will need to look at before choosing an ICO to invest in:
Use case
Knowing the concept will cover this point but I wanted to be more detailed on this one.
Many ICO's just want to try bring a new cryptocurrency into the market with no real use but those cryptocurrencies will not last long.
You will have to look at the product and what is it about and who can use it.
You also need to look at the problems it will solve.
Timeline
Timeline includes the goals and objectives they have set for the future.
You need to look into those goals and objectives and see if they are well planned and organised.
If they had set any goals during or before the start of ICO, see if they delivered on time.
Support Staff
Support staff also needs to be qualified and knowledgeable enough to answer the queries of users and give them the right information.
Be sure to question them and see if they satisfy you with their answers.
Listing on exchanges
One of the major aspects for the coin to succeed is its listing on good exchanges.
Be sure to check if the owners are trying to list their coin or token on a good exchange.
I think the above listed points are the major ones along with the points discussed in the earlier post are the main things you should look at before investing in an ICO.
Link to the previous post is given below:
https://steemit.com/ico/@syedumair/how-to-choose-an-ico
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Nice post @syedumair! Support staff is very important in choosing ICOs. If the support team is not competitive enough to meet the concerns of the client or investors which is us, then how come they can secure the money they're supposed to handle.
With the maturation of the crypto market, thankfully a lot of weak ICOs are being weeded out. With that being said, I think a key thing to ask for any ICO/token is; "Does this project need blockchain or a cryptocurrency, is it more practical to not be a cryptocurrency"?
Also a lot of companies have VC support, in theory this is a good thing but I have personally heard that a lot of VCs are trying to exit their earlier investments by having the companies they funded do ICOs.
Always do your research!
I lost money investing in ICO, I made up my mind not to put my efforts into it anymore. Steemit and BTC are good investments, if you plan well. Thanks for the post anyway.
Every coin has two sides.
Sometimes you loose money and sometimes you make huge profits.
I have invested in a couple of ICO's and got pretty decent returns.
Amazing, to choose an ICO... thanks :)
When choosing ICO, pay also attention to the mentions of the project in reputable sources like Bitcoin.com, The Merkle, CCN, etc. Find our more info about the team experience and previous projects. Learn the mentions of the project on social media. ;)
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thanks, your post! have a nice day.
¡Interesting post! congratulation.
another russian scam. be careful: https://shitcoinoffering.com/stopthefakes-ico-pinkertons-from-russia/