ICO stands for Initial Coin Offering. It is the period when you can buy coins or token for a set price. Today, we are going to talk about what you should do if you want to invest in ICO. With this simple guide for beginners, you will become a pro-level cryptocurrency investor in no time.
For the most part, the bitcoin price is usually fixed. However, these days ICOs begin to accept such alternative payment methods as ethereum as well as other coins. All the finances invested in such a way are used to launch various projects.
In case you want to become one of the ICO investors, here is what you need to do:
1. Research the Upcoming ICOs
- Scan the team composition. The more information you gather on the advisory board as well as on the development team, the better.
- Ask the developers directly on the Bitcointalk.com thread about your concerns. If there is no direct answer or no answer at all, the project is not trustworthy.
- Check the project you are interested in for a whitepaper, also an operational code, and beta version.
- Check all the details concerning the VC.
- Read the white paper thoroughly.
- Use Whitelist ICO as your filter.
- Use outlets as well as websites for detailed information to research the ICO Rating. Take your time.
- Analyze the quality code the developer offers.
- Use social media for a logical discernment on the project. Beware of bounty baits.
2. The process of participation in ICO
- Open your exchange account. Make sure it is fiat-accepting cryptocurrency exchange account, you need one to convert the fiat currency in some other currency you need.
- Choose a secure wallet to keep your belongings in.
- You are bound to become a member of ICOs discussion in order to receive ICO updates and guides on a regular basis.
The fact is that the ICO market is grand, and you should analyze every single detail before you make a certain investment.