Blockchain technology is set to change the world as we know it, whether we like it or not. The Cryptocurrency and Initial Coin Offering (ICO) explosion we witnessed in the previous three years or so is not a fluke, it’s a sign of things to come. If you’re looking to make money this year, you need to adapt your thinking to reflect the changing times. Forget about the stocks, bonds, and securities out there – the time has come for you to invest in ICOs.
Today, there are hundreds, perhaps thousands of options when it comes to these modern investments, and picking out a winner can be daunting. No worries, that’s why we’re here. Read on to learn how to identify ICOs with the potential to earn you a healthy profit on your investment among hundreds in ICO list.
What Is It All About?
The first step in recognizing a potential high performer is to look into what its business model, goals, and plan of action is. The best way to get all this information efficiently is by taking a look at the ICO’s Whitepaper. This is a document that outlines everything potential investors need to know about the asset. Don’t even look twice at an ICO that doesn’t have a whitepaper easily available at all. These documents should answer the following questions for you, first and foremost – Project developers and parent company backers; post-ICO game plan with clearly defined milestones; justification and analysis of concept viability for future longevity. As a potential investor, it’s up to you to look at this information and decide for yourself whether it’s for you or not.
The Team Behind It
Not all ICO developers are created equal. The fact is, when there’s money involved, you need to know and trust the people you’re handing over your hard-earned cash to. Don’t bother with anonymous ICO teams, that’s a good way to lose your money. In addition to this, the world of blockchain development and ICO implementation is a complex, relatively new, and technologically intense field of operation. You want to see a team with a proven track record in the tech and finance industries, solid education and/or experience, as well as the confidence to openly reveal their identities on the company whitepaper and ICO website.
We’ve already mentioned the whitepaper and website visibility, but there is more to an open and transparent ICO than these two elements. A well-grounded and reliable ICO will make it easy to interact with them, ask questions, and find information about every aspect of their operation. Social media, online forums, blog posts and the like are some of the favored methods sincere ICO developers utilize to keep potential investors in the loop.
The ICO’s Terms & Conditions
Remember that you’re entering into a contract with the ICO developers when you make your investment, and thus you need to be aware of what you’re entitled to, your rights, and any limitations involved in your agreement. All this should be clearly defined in the whitepaper. What can you expect to get in the form of returns, and when? Can you cash out at any time?…how? Everything that you could possibly need to know to make your investment decision should be neatly laid out.
As we’ve said, Blockchain technology is relatively new in the game. What this means is that there are plenty of risky propositions out there, but also plenty of opportunities to earn incredible rewards. Keep your head level, do your research, and put your faith behind solid ideas, and you’ll do just fine.