here. In that article I talked about how there are many overvalued ICO’s on the market. I talked about how a bubble is forming and how you have to be careful with your money when investing in start-ups. With that being said, not all ICO’s are bad. I am going to go over my top 4 tips to finding the best ICO’s.
Learn About What the Company Plans to Do
We hear a lot of buzzwords in the cryptocurrency community. One of those words is “whitepaper”. The whitepaper is basically an ICO company’s business plan. It will describe the technical aspects of the project and all of the problems that the project plans to solve. Make sure that the company has clear goals. Don’t invest in a company that you do not actually believe in. The best way to think of it is by thinking of yourself as a venture capital investor. Don’t just give your money to anybody. Pick the people with the best ideas and the best team.
Do Research on the Team
When buying ICO’s, you want to find the tech companies that are going to sell out quickly. After doing research, it looks like the best ICO’s are the ones that have team members from other large companies. I think that it makes sense. A good company is going to have a good team behind it. If the team has no experience in the past, it is probably not a good idea to put all of your money into the company. On the other hand, if the top programmers have developed popular applications in the past, they are most likely going to have a better chance at success.
Focus On Long Term Growth
One of the biggest issues I see when people look for good ICO’s is that people look for short term growth. People are more focused on the 50% gain in a day rather than the 5000% gain in a month. ICO’s have a lot of potential if you do your research and pick them out carefully. Pick a company that is going to be sustainable and usable so that you can have a good future with them.
Pay Attention to When the ICO Goes Onto Exchanges
After you pick your ICO, keep yourself in the loop with what the company’s plans are. Many companies have a timeline that show exactly what they plan on doing over the future months. For example, some ICO’s will occur days before the coin is released on exchanges. You are going to notice that the coin is going to be extremely volatile when it hits the exchange. Depending on what your goals are, it might be in your best interest to take the quick gain. You just have to pay attention so that you can sell out if you need to because the price is going to move quickly.