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December 12, 2017

Tips for Making the Best Investments in ICOs

ICOs, or Initial Coin Offerings, are an essential part of cryptocurrency and they’re a new industry venture. Startups centered around cryptocurrency are raising money by offering tokens that will fund the their operations. Savvy investors hope to get in the game early enough to reap huge gains if and when a particular cryptocurrency achieves prominence. Most ICOs are currently offered for tiny amounts of money, hoping to rise exponentially in value along the way. Of course, investments are not always safe and, even if you have a long-term goal in mind, finding the most successful ICO can be quite a challenge. ICOs come with their own risks, but if you do decide to take a chance, here are a few tips to make sure you won’t go wrong.

Check out and analyze everything that’s available on the development team

It’s recommended that you head straight to the developer’s official page and take a look at the team. Usually, they are using their real photos, and you’re strongly advised not to invest in a coin that has an anonymous team behind its whole operation. Try to find out as many details as possible about the team and their business. This information is available on their website, but it’s always a good idea to scour Google and LinkedIn (News - Alert) to discover anything you can that may be relevant.

Check out the ANN thread on BitcoinTalk.org

BitcoinTalk.org is a message board for people interested in the technical details of Bitcoin’s development as well as other cryptocurrencies. You can usually find out more about an ICO you have your eye on by searching for it here. This is a great way to take the pulse of the industry and ferret out opinions from insiders and others who have been playing the game a long time.

Don’t skip the whitepaper

If a cryptocurrency company wants to raise money via an ICO, it will typically create a whitepaper showcasing its plan for success. There, you’ll usually find out everything you need to know about the project, ICO, roadmap, and so on. The information listed there is essential to read before deciding to invest.

   

Don’t place your bet on a single ICO

It’s best to invest in coins from more companies because your chances of profit will rise. Pick three to five firms that you have thoroughly researched and invest in their currencies.  For example, one company that makes perfectly clear their objectives and how they plan to achieve them is CannaSOS. Behind this name, there’s a strong team of visionaries with high ambitions to integrate Blockchain technology into worldwide canna space. The CannaSOS team is involved with businesses and individuals in the cannabis niche, and it includes experts in Blockchain, medicine, finance, IT, marketing and more. Since 2014, this experienced team has been successfully developing solutions and bringing the CannaSOS project to life. So far, CannaSOS boasts more than 315,000 registered members, 970 business pages, a database with more than 4,900 strains of marijuana and more than 200 social groups. CannaSOS is a successful prototype of the global P2P ecosystem with worthy goals that include designing, developing and implementing a non-cash, multi-level, online transaction platform set to run on decentralized Blockchain technology using the PerksCoin token. You can check out their incredibly robust and highly detailed plans and projects on the official website of CannaSOS.

Caution is vital

Last, but not least, it’s best that you remain skeptical, because caution and skepticism are excellent attributes to have in this both new and exciting market. This technology is set to become more and more mainstream but, for now, it pays to be selective as you decide which cryptocurrencies you believe have the most potential and invest in them accordingly. 

About the Author: I began writing as a professional on my personal blog and then discovered my true calling, which is writing about technology and gadgets in general. I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about juicy tech news and everything related to gadgets. For tech tips, my email address is neneacostea at gmail.




Edited by Erik Linask
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