There are several questions people ask when choosing an ICO to invest in:
- Is this a legit project?
- Do they have a working product?
- Does the project have good marketing?
- What is the distribution of the token?
The answers to all of these questions are all important. However, an ICO can be legit, have a working product, with tons of marketing, but not be a good investment. If you really want to 10x, you need to have an edge. The right question to be asking is:
- What will make this token have more value after the ICO?
There are many different ways you can get an edge. If the ICO is limited, and you are quick enough to get in, it is likely that it will go up in value. If the ICO sells hundreds of millions worth of ETH in tokens, it's much more unlikely to 10x.
Another edge you can have is if there is a flaw in the ICO that it appears can be overcome eventually. If they made a mistake in setting up the ICO, this can kill demand. However, if the project is otherwise solid, people will come around and buy the token. Look for these flawed diamonds in the rough.
Answering this question can be challenging, and you will probably get it wrong sometimes. Make sure to have a plan to exit a failed ICO. Just one 10x will make up for several small losses.
Always keep track of exactly what's happening and keep working hard every day to find that edge.
Please comment below on past/current ICOs that you think have a chance at 10xing and why.