Uniqueness and Detail are What Makes an ICO Successful
When you have the appetite for investing in Initial Coin Offerings, you are going to very quickly get overwhelmed with the sheer number of them that are up and running at any time, for no matter when you decide to invest in them there are going to be literally hundreds of them all offering you an investment opportunity.
However, anyone who does have surpass funds laying around is going to have to spend a lot of time researching the Initial Coin Offerings or the Token Generation Events that appeal to them the most, for not all of them are going to stand up to close scrutiny, and your money really is going to be at risk if you do not pick the ones to invest in very carefully.
There are lots of different things that I always make a point of looking for when I do fancy investing in any new start up, and as such today and below I will give you an insight into what they are, so you will at least have some ideas as to what you should be looking for.
First and foremost and without a shadow of a doubt, the only Initial Coin Offerings that I would be tempted to invest my hard earned money in, are those that have a rock solid idea and concept behind them and the more unique that concept or business idea then the more interest I will have in it, as most ICO’s are just clones or other business ideas.
Learn About the People behind Any ICO
There are many different aspects of an ICO and the business concept backing it that will either see a large number of investors wanting to get involved in it and the more people that do the sooner of course they will achieve their funding goal.
However, with so much money sloshing about the ICO market place then many ICO’s do very quickly achieve their funding goals and then it is when the people behind the concept and business idea have to put their proposal into real effect and prove it was worth their investor’s money.
Therefore you should always take a great interest in just who are the people behind any ICO and look a little deeper than just reading their bios on the ICO website.
I have found it quite amusing the titles that some people tend to give themselves on their bios, as cryptocurrencies have not been around for that long you too will also find some rather unusual job titles for people involved in an ICO.
However, when you do see the list of people involved in any ICO take a look at their LinkedIn profiles, their Twitter and Facebook profiles too and see how many people are following them and also what they have to say over the years too, as by doing so you will get a good idea if those people are best suited to the roles they currently have and whether they are going to be a real asset to the ICO and business concept too.
Whitepapers and Roadmaps
Apart from the actual team behind any initial coin offering or any type of token generation event, it is going to be the way the concept is going to be rolled out over the short and long term that you should be making a careful note of.
Therefore what you should be expecting to find on any ICO website is a whitepaper that is going to guide you through the entire business concept from start to finish, and also a roadmap that is going to walk you through the way the strategy they are adopting is going to be rolled out.
As such those are probably the two most important aspects of any ICO for by studying both the white paper and the roadmap you can then base your decision as to whether you may be prepared to invest in that concept.
Also, pay careful attention to the token or coin distribution to find out how the income generated by those tokens is going to be used and find out if there are any incentives for you to taking part in that ICO at an early stage.
If a huge percentage of the tokens being generated are being distributed to the team then that in my opinion is always a red flag, so keep that in mind when you do next set about checking out any ICO’s that you may be tempted to invest in!