5 Simple Steps To Pick A Good ICO (For Newbies)

[chesatochi]

Great tutorial you have written for a newcomer to pick an ICO that has a great potential. One of the most important point is to make sure the ICO has a product or something that is working from day 1.

[blx18]

All good points. Small cap means they give tokenized value growth priority over money grab. Of course there is always the possibility that they truly need 100m $ like when they want to start they own space program.

[bosses]

So thought i could be of help to the newbies on how to pick a good ICO.

The reason is that I have often encounter beginners who have been scammed by ICO or have made mistakes and invested into the wrong ICO. My opinion is that if they know how to pick a good ICO to invest in, they would be less prone to losing their money in this game.

ENJOY!

5 Simple Steps;
1. A Real Business Case : A real business case and demand is key to any business and even more so for ICO. The ICO must have a product that leverages the blockchain and not just using the ICO to grab cash.

2. Small Hard Cap: A lot of ICO have ambitious hardcap in the hundreds of millions. Unless they have a one of a kind product else stick to ICO with a maximum of $40 million in hardcap. The subsequent growth in marketcap will give us better returns.

3. Great Team Members: Look for a ICO with project members who have previous ICO successes or they have held important positions in the relevant industries. Too many ICO are just being launched by people who are trying to break in industries they have no network in.

4. Super Advisors : Advisors are gold. If an ICO lists a bunch of average developers and legal people as their advisors, RUN. They must have advisors who are well known in the blockchain world or in the industries their business is trying to disrupt.

5. Amazing Marketing : Marketing is key. ICO must invest in marketing and be able to attract lots of interest for a sell out ICO. You can see this if they have lots of members in their social media especially in their telegram group. Aim for at least 500 members


DUE DILIGENCE : While the above 5 steps will be able to shortlist for you ICO with high chances of success, you must still do your own due diligence to understand their whitepaper and know what you are getting into. Your ICO investing results will depend on how much work you put in.

I hope i was able to be of help. If you think i was, please share a little merit on this post. Thanks in advance

Very good topic, it will suit not only beginners, but also people who have long been in the market. I took advantage of this topic. thank you

[kendra1107]

Well this could bee a nice guide and following it can give you a head start, but all in all there is really nothing that can assure you that a project can be a success. I have been studying a lot about ICOs in order that I might luckily land in some successful ones, but with all precautions I still got some failures.

Exactly! All ICO's seems to be good and legit. But there are almost no clear indication whether or not our investments (talkin about our money, time, resources, ourselves) are safe. Reality is, at the end of the day, even if we think we made all of the precautionary measures, we still end up choosing a project with feeling of uncertainties. Why? Because even if we are all so sure that we have chosen a good project, there is still that so called risk factor of losing our money. But this is normal and something that we need to be accustomed to. If not, then we really won't gain anything from this.

[Johnnywelsh]

How to pick a good ICO as a newbie? Don't!

Get to grips and experience with some of the more established crypto market tokens first. Feel what it's like to experience massive bull runs and massive dips sometimes both happening over the course of a week. Only then will they have the patience required to HODL when ICOs go on the market and sometimes go to 1/4 of the ICO price only to a few weeks later become x10, x20 gains.

[AltcoinAuthority]

How to pick a good ICO as a newbie? Don't!

Get to grips and experience with some of the more established crypto market tokens first. Feel what it's like to experience massive bull runs and massive dips sometimes both happening over the course of a week. Only then will they have the patience required to HODL when ICOs go on the market and sometimes go to 1/4 of the ICO price only to a few weeks later become x10, x20 gains.

I like to only hold the coins that look like they can have a higher price in a short while There is a lot of coins that won't do that 100x on the ICO price.

[dimon01]

Creators of a project place a wallet address on the official website, where coins are thrown off.  I sometimes try to check its balancing in this case, you can determine whether it is a scam or not.

[aussiesloth]

They're some very useful points consider, which is why I gave you Merit.

Newbies (which I consider myself to be, with only 3 months experience in the crypto world) need all the help they can get, so any information to help in that regard is a good thing, IMHO.

Of course, the comments indicating newbies should avoid ICOs altogether may also have some validity.  I suppose it comes down to how quickly we learn, our risk aversion level, and how much money we have to invest.

[btcefeyigit39]

crypto is the most logical choice on the money exchange ico. especially for beginners. it is hard to find the right ico so you have to pass some conditions