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Investing in ICOs: Knowing which ICO would be profitable to invest in
As an investor in cryptocurrency, you must have considered the charming possibilities that ICO brings to you. If you take a walk down cryptocurrency history, you see a lot of things about ICOs, people that took a chance early and are now cashing out big, and if anything this kind of news are juicy and will have any crypto enthusiasts searching for an ongoing ICO to invest in. but just before you hurry down to do that, take a few minutes and get to know what it is like for you as an ICO investor.
What ICOs are about
Depends on what side of the crypto table you are sitting, ICOs mean different things to different people. On the side of cryptocurrency creators, an ICO is an opportunity for them to get the funds of the project they have in view, while on the side of investors an ICO is a way to get invested in a crypto token early with the aim to either cash out bigger as it grows or to enjoy some exclusive benefits of a working token.
Because people are involved in cryptocurrency for different reasons, some are in for the financial possibilities, and some for the technological benefits, there is no telling you the best reasons to get into ICOs. However, if you are in it for financial growth, you are more likely to find this article beneficial because it is guided towards the financial aspects.
How has it fared so far
From its introduction, ICOs have grown progressively over time because people who wanted to take advantage of the blockchain and other crypto related technology could finally get an avenue to make their plans come to fruition. And investors that have watched early bitcoin and Ethereum investors grow tremendously have learnt that early investment holds a lot of promise in the crypto market.
However, the SECs involvement in cryptocurrency has not been all too friendly for ICO because in the bid to make it more secure, regulations have been put on carrying out ICOs. The full blow of the effect of these regulations was seen towards the middle of 2018 when a lot of listed upcoming ICOs were cancelled as well as some ongoing ones. It is no news however that the crypto market doesn’t do well with regulations, but another thing about the crypto market is that after the regulations come in and sweep out some shaky cryptocurrencies, the stronger ones left standing to become even stronger as people learn that the can trust them.
In this light, investors are even more assured about ICOs that make listings, considering they must have passed through the fine comb of SEC regulations.
How to choose an ICO to invest in
Nobody wants to realize that they had an opportunity to invest in the next big thing in the crypto market and failed to do so because they didn’t take advantage of ICOs, you can consider this one of a crypto enthusiast’s nightmare. At the same time, except you have a lot of money to throw around, you wouldn’t just be participating in any ongoing ICO that you find. You have to be strategic about it. So how do you choose which ICO to invest in?
The first place to look to get what ICOs to invest in is with upcoming ICO ratings. The reason is because you don’t want to invest in a token just because there is a frenzy, you want to have some time to think and analyze your possibilities. With upcoming ICOs you have some time to ponder over your advantages, however this is aided by ratings. The next place to look is at listings of ongoing ICOs.
1. Upcoming ICO ratings are carried out by cryptocurrency experts that keep track of the market. They watch how the market moves and how every action on their affects the prospects of any ICO coming to fruition. At the same time, existing crypto investors that are big players in the crypto-verse affect how well upcoming ICOs are rated. These investors, vote and offer opinions that tilt the market, in that way when a cryptocurrency is expected to be highly profitable with great possibilities, crypto enthusiasts can’t wait to jump on it the moment it is released therefore allowing it to have a high rating.
2. Ongoing ICO listings: When you aren’t sure of what ICOs are available, you go through ongoing ICO lists. This way you find out what people are buying, what is selling and how much time you have to invest. This is like looking through a magazine listing of open stocks. You know what you can take advantage of.
Whether you are looking at upcoming or ongoing ICOs, you still need to be looking at the important things about an ICO that will affect your decision to invest. You should know that the fact that an upcoming ICO is rated highly doesn’t guarantee it will work out big time, we have all seen promising ICOs like Morai go down the drain.
What you should know about before investing in an ICO
- How trustworthy are the founders? Founder who have been related with a cryptocurrency scam are hard to trust but they are not the only one you should be worried about. Crypto is easy but at the same time easy to fail, therefore it takes experience to build a token and have it rises. In that light, it is important to go through the portfolio of the crypto founder to determine whether you can trust them as regards competence from experience in a crypto field and a clean record.
- How well are they getting publicity? An ICO is a public offering, it thrives on the public. No matter how good an idea is, if the right people are not hearing about it, it would die. Hence, it is a good idea to look at the marketing and/or publicity employed for an ICO, how relevant is their reach? If they can’t get to the big players while they are still upcoming ICOs, you probably shouldn’t be investing your money in it.
In conclusion, ICOs have tremendous profits but the crypto market has seen enough of them fail to know that no investor should go in blindfolded. Investors should know how ICOs are faring in the market, trends and make informed decisions by looking some key factors that affect the chances of success of an ICO.