rayjoderson
Finding the best upcoming ICO to invest in is no longer the big challenge it used to be given the huge spate of information that's available online these days. The importance of doing your own diligence, however, cannot be emphasized enough given that at the end of the day, ICOs are still speculative investments. In the meantime, here are some ways you can find the best upcoming ICO to invest in:
Research the ICO
The most important step in evaluating an ICO is doing the groundwork in terms of research. Solid ICOs will have a functioning website presence together with a Whitepaper. The Whitepaper should include:
• The reason for being for the ICO
• The problem the ICO proposes to solve and how it proposes to go about doing this.
• How the ICO proposes to go about funding and how it will utilize the funds.
• Timescales for all key milestones.
• Detailed information about the token itself including the model of distribution.
• Governance of the ICO.
ICO listing sites such as ico-check are a good resource to also look into. Ico-check provides extensive information on upcoming ICOs (together with past and ongoing ICOs) that have already been pre-vetted.
Learn About the Team Behind the ICO
The team behind the ICO should give you a good indication of how well the ICO can be expected to perform. Review the bios of each member of the team (look for news/web clippings as well as professional bios such as the ones you can find on LinkedIn). Understand the backgrounds of the respective team members and evaluate based on knowledge, experience, skills and a proven track record, if any, in previous ICO launches.
Another item on the checklist to look out for is the presence of broad-spectrum industry experience. Have all key aspects of management been covered? For instance, marketing, technological development, legal…etc.? If not, are there advisors or consultants outside of the team, in place, to plug the gaps?
Hype vs Genuine Interest
One of the banes of internet marketing is paid reviews. When you see a lot of hype around a specific ICO, especially online, it may actually be too good to be true. Genuine ICOs won't feel the need to plug marketing excessively in a bid to attract interest.
Gauge interest in cryptocurrency forums and communities from genuine investors and venture capitalists. You are looking for people who have been investing for years and have a solid reputation for picking good investments. The support of genuine investors and venture capitalists is always a good sign.
Legal Considerations
Last but not least, be aware of legal ramifications. ICOs are banned in several countries around the world, and regulatory frameworks are still in the works in others. Always do your own personal due diligence and extensive research on upcoming ICOs before you invest. ICOs are speculative investments that are a work in progress towards a finished product. Doing your homework will help you minimize your risks and maximize your profit potential.
