After the “Year of the ICOs” that was 2017, scores of developers and entrepreneurs are approaching the general public with ideas that they believe can disrupt the status quo and asking for funds. An ICO, or Initial Coin Offering, is an investment technique to raise funds through the process of crowdfunding. And ICOs have already raised more money in the first three months of 2018 than in the entire last year. Many more project have lined up to raise funds from investors and crypto enthusiasts. But in this horde of ICOs, how does one go about picking the right ICO to put their money in? Let’s find out.
1.Read, read, read. And then read some more.
Information is the drawstring of the cryptosphere. Stay in touch with what’s the latest and keep up with the conversation by following forums, groups and news. See what experienced crypto experts are saying about a product and its underlying philosophy/technology. Don’t be afraid to ask questions and follow up on them.
2.Study use case parameters
The most important thing to do before investing in a blockchain project is to think about the real world applications of the project/platform being developed. Most projects can do just fine without a coin or even the blockchain and yet many developers want to get on to the merry bandwagon of crypto. Such projects are doomed to fail. Ask questions like — What is the product for? Who are the users? Are there similar products existing in the market? Is there competition? If yes, how intense would it be? And finally — Does the problem need the blockchain technology to solve it? Can it be solved using conventionally available methods/resources? If you do not find satisfactory answers to these questions, stay away from the hype.
3.A reputed team and a well-defined timeline
To solve a real world problem using the revolutionary blockchain technology is a complex task and requires extreme technical expertise. The project needs a robust team that has had hands-on experience of using this technology to create something similar or complementary. Look for who the team members are. Research them and find out their reputation in the real world. Also, study the roadmap of how the team plans to achieve important milestones. Analyse if what has been shown in the roadmap really achievable within the stipulated timeframe. If the roadmap is unrealistic, it should cause you to rethink.
4.Look out for VC support
Check whether the project has venture capital support. While the absence of VC support should not discourage you from investing in the project, its presence, however, should boost your confidence. VC backing means that more experienced investors have faith in the project — its team and the idea — and you can safely invest in it, provided the project satisfies other criteria. Study the VC details on the website and on various news forums.
5.Proper information layout
Check if the project has a clean, well laid-out website that explains the entire project, its team, roadmap and other details like white paper, etc., succinctly and clearly. The business plan should be well defined and so should the community. Join the community on Telegram or other social media platforms and follow the talk around it. There should be constant engagement from the project and the admins should continuously update the community on the various developments happening around the project.
Investing in the right ICO can literally change your life. For example, people who invested in the ICO of Ethereum way back in 2014 received a return of more than 150,000; those who invested in Antshares/Neo got a return of close to 120,000 and those who invested in the ICO of Stratis got a return of more than 77,000 on their investment. While these are the best of the best, investing in the right ICO after performing due diligence can greatly increase your chances of making a financial windfall.
icoscroll.com has done all the hard work for you. With its Investment Roadshow, it presents meticulously chosen ICO projects that have passed their stringent screening process. The team of icoscroll.com is an experienced and expert bunch of people hailing from the fintech sector who themselves ran one of the most successful ICOs of 2017, raising upwards of $31 million in the process. They are now using all of their experience to help investors — both small and institutional — to choose the right ICO projects to invest their money in.
Check out icoscroll.com’s list of ICOs in the market. Invest with confidence and bring the dreams of your financial independence into reality.