tips for newbies when dealing with ico's to invest with
I can see a lot of new people coming into crypto here that are investing on new projects.
As a newbie before i know that the main thing newbies are wanna consider is, IS this coin is not scam ?
When i know that, that coin is not scam after diving into some details then im going to invest my hard earn money on it.
That's very me months AGO.
What i understand right now as i study investing and researching anything that will prosper myself in terms of investing is
that, there is much more than knowing/determining if a coins is scam or not. Below i created a guideline for myself in able
to distinguish ICO's that are very rare. The ones that can give you 1000x return or more !
1. What's this coin is trying to do (usecase) ? (you need a short answer here within 2 seconds)
2. what industry is it in ?
3. is the industry it is in is significant ?
4. is the industry it is IN is big ?
5. Can you hold that FOREVER ? (are you confident that it will grow up in value in the long term acc. to its usecase ?)
6. how many Competitors does it have ?
7. advantage on their competitors ? (technology, etc)
8. what can you say about their marketing ? (media exposures, specific marketing techniques)
9. is the team capable of delivering their roadmap ? (experienced CEO and staff)
10. what is your unbias conclusion about its adoption according to all of your data collected.
note:
It is okay even if the market is small if it is underserved.
I hope i helped you with this.
Change your point 9 as "Is team is really same as told in website/whitepaper" or they are just the fake profiles created by using the photos of other.
Is the experience that is getting depicted in website is really the true experience or just exaggerated.
I guess point 2,3 and 4 does not make any sense. Point 6, Competitors does not matter as much, if you make shit product then nobody is going to buy it even you do not have any competitors. Point 8, shit products market themselves better than any other good products, so do not rely at all in advertisement or media exposure.
yah, thanks for the suggestion and opinion
but for me, these points are solid and i can explain why. The 2, 3 and 4 is all about industry. They are protocol industry, energy industry, AI industry, Exchanges industry, Finance industry, etc. you need to determine if the industry it is in according to what it is trying to do is significant in able to minimize the risk of failing in the long run. And i wanna be investing on an ICO that is in the big industry for more investors. More investors = more adoption. and i noted this on the end. note: It is okay even if the market is small if it is underserved.
And on the number 6 By having a lot of competitors, the attention of the investors are separated because there are other coins/tokens that also offers what an ico is trying to do.
