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ICO has made a lot of people wealthy and many have gone bankrupt through it too. It all depends on how well one can identify a good token to invest in. I will talk about some factors to consider before going into any ICO. This factors has been working for my team and I and we have never invested in any failed ICO.
THINGS TO LOOK OUT FOR
- Product
- Hype
- Team
- Token metrics
- Presence or absence of prototype (like a demo version of the actual product).
- Amount they are raising ($40M and above is too much in my opinion)
- Roadmap
- Competitors
SOME DETAILS:-
Product:- By product I mean that a good ICO worth investing in should have at least a Minimum Viable Product (MVP). This could be an app, testnet or a program that has at least been released possibly for testing in its alpha or beta stage. Also,you should know what the project is about. What are they trying to solve? What loopholes are they looking to exploit or what industries are trying to disrupt? What use cases are there for the product in the real world? How far is it from mass appeal or adoption?
Hype:- This somewhat relates to the latter part of what i wrote on Product. But this also entails how well known the product is or project in the community? What is their level and style of communication like? How is their social media presence and interaction i.e telegram, twitter fb etc? What about their activity on "nerd-internet" ie discord, bitcointalk, reddit et al? Who and who is talking about or even shilling them? Whats the buzz like as per what yhey are expected to perform or produce when launched?
Team:- who and who make up the team? Do they have all the right qualities? What reputation(s) do they have? Have they worked in some of the big firms in the world or their continents? Is the team known for meeting or even surpassing their targets on their roadmap? How firm is their reputation and experience?
Token metrics: How much are they trying to raise? Anything above 30m dollars is shady right now. Beyond the amount how many tokens are they putting out? How many are for sale in all the sales, ie what % of tokens are they selling in private sale, presale and crowdsale? Is there a bonus? How much bonus? Too much bonus makes crowdsale almost worthless. Is there a lock up period? If a lock up period is too long, the value of the product may never be fully realized as the market may have passed on to other projects.
Competitors:- Do they have competitors? how developed are they and how hyped are they etc.
AVOID
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- Undetailed plan
- Short whitepaper
- Non-transparent team
- No development roadmap
- No proof of work
- Part time staff
- One developer
You can also use crushcrypto.com to analyse ICO's that catch your attention.
Good luck in your investments.
P.S Remember not to put all you have in any ICO cause as promising as it might look,they could fail. Put what you are capable of loosing
Thanks to @jephiano , Mr Udeme and Mr Usman for putting heads with mine to come up with this, I hope you find it beneficial.
THANKS FOR READING
photocredit:google.com
Nice post,..i wish to learn more about this
Thanks
You can make more researc
This has the right explanations to what i seem to know a little about. I ignore ICO and concentrate more on the drops. Thank you @jeaniepearl, add me to any airdrop group you dey. 5 groups is not enough for now
Hahahaha
The huzzle is real
Message me on whatsapp
Great write up with vital informations.
Whats your whatsapp details please let me join the airdrop whatsapp groups too. Thank you.
Cant drop it here
Ask from one of the community groups
Should i message you as well .
STOPYou have really mad some huge points here, please do you have a group I could join, I really wanna learn. Please ....
Message me on whatsapp
I don't have your number can you meet me on discord, and we talk more on how to get connected. @kuboskeey#9931
U deserve some accolades baby....chop kiss😘
My small addition is being realistic,whenever there is an ico with a proposed project,its only right for you to carefully analyse it and evaluate if the concept can work to some extent,if it sounds too impossible.....just move on....although technology is amazing but still there is a set limit to what it can do
Well said dear
Thanks for your contribution
Abeg me no dey any one seriously yet, how do i start?
Read about ICO first
Its not something you start
you give very good advice and I think the key is to investigate what we want to invest
True dear
Learnt some new points today thanks
MJ
My pleasure
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You've said it all, jenny. Personally, i gave up on ICO's last December as my picks turned out unfavourable even while harmed with the metrics you highlighted. I started focusing on getting them as soon as they are listed on exchanges then wait for a little pumpy ride and i'm out when satisfied.
Uhhhhh
Sorry about the losses
Not a bad idea
This is quite informative. I've been battling with how I can differentiate the real thing from scam. With this explanation, a lot of thngs have been made clear to me. Thanks @jeaniepearl for sharing.
You are welcome dear
And this my dear is a good advice, and tnx for the crushcrypto just heard it now from u! Steem on, huggsss and mwahh!
Blushing
Kisses dearie
U always have sweet words to say, take care as always huggsss :)