How to choose an ICO!

in #ico7 years ago

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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.

ICO's have been the controversial means of business and some countries like China and South Korea have banned raising capital through initial coin offerings.

With a huge number of ICO's running at the moment, it is very hard to choose a right ICO and invest in it.
There have been a lot of scams lately but if you choose the right ICO, the returns could be life changing.

Some of you might be aware of the fact that some people have made millions of dollars by investing in the ICO's, and when I say ICO's, I mean the right ones.
I have personally invested in three ICO's till date and returns were huge with the least successful ICO giving a 4x return.

You also need to be aware of the fact that you might also loose your capital if the ICO you invested in turns out to be a scam.

How to choose the genuine ICO!

There are a number of ways to know whether an ICO is is genuine or not:

Read the whitepaper carefully
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Whitepaper is the face of every ICO or cryptocurrency.
If should be well written and whitepaper itself should be compelling enough to attract the investors to invest in the product.

Know the team
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It is very important to know the people behind the project because the team plays a huge role in the success of an ICO.
Look at the team members and their public profiles and see if they are active or not.
The most important thing to know about the team is their expertise in the field.

Know the concept
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Dig deep to know what is the concept of the company and what they are trying to accomplish.
Go for the concepts which are new and which you think will add value to the world and solve real world problems.

Marketing
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See if the company is doing enough promotions for their product as marketing plays a huge role in the success of any concept.

Technology
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You can also evaluate the technology by knowing if they actually have the "proof of concept".
Proof of concept is really important as you will be aware of what they are trying to achieve.

These are some of the precautions you might need to take before investing in an ICO.

All the images are from Pixabay.com.

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Good post, the time when you could invest in basically any ICO and make a lot of money is definitelly gone. Investors must be very picky these days and always do the due diligance themselves.

Hey @syedumair / @umais / @masterbot / @masterbank / @anoniam / @syedubair
Please return my sbd that you stole from me. 300sbd. Thank you

I am syedumair
I am not umais
I am not the owner of masterbot and masterbank
I am not anoniam
I am not syedubair

If you were scammed by anyone you can ask for help in steemit.chat
I am sure they will help you.
Stop accusing me

This information is very important to those planning to invest in ICO's. Though, it will not totally eliminate the danger of a scam, it will altleast lessened it to a great degree. Possibly, saving a lot of people from heartaches. Thanks for the helping raise awareness on the danger of fake ICO's. Have a pleasant day.

Yes indeed, it will not totally eliminate the danger of being scammed but will help to some extent.

I just find the dig deep part a bit strenuous, how are supposed to dig deep into every ICO that comes about and has some signs of potential? Time is very limited these days.

Definitely helpful! Another important one is how they respond to issues. You don't want a team that is not available to clarify issues that potential investors might have.

I Never Got Scammed In Crypto Market,

Accept BitConnect :(

I hope the loss wasn't severe enough!

Interesting
I normally stay with bitcoin or etherium and like ICOs that are proven
Thanks for info

Bitcoin and ethereum are the safest options along with ripple and ltc.

The most important thing is knowing the people behind the project. Great post though! Thanks for sharing :)

you are a very genius then strive for success

thank you for his knowledge very useful brother, good luck always (y)

Research, examine, buy. These are my favorite 3 tips while choosing an ICO.