Upcoming ICOs – Full Guide
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The number of the new ICOs has been growing right after the introduction of the very first ICO, which was held back in 2013. Nowadays, ICO is a tool that revolutionizes not only crypto usage but also the entire financial system. It appears to be a wonderful way to finance startups as well as a great opportunity for people to invest in something. This is so because later on, the tokens of the given ICO can be sold and traded on cryptocurrency exchanges that list the given token.
Many people think that ICO could also be used in more crypto projects to develop cryptocurrencies. If you are after the biggest trendsetter in cryptocurrency today, then the Initial Coin Offering (ICO) is the way to go. In this article, we will touch upon the opportunities that can come with investing in new ICOs, learn about how the new ICOs contribute to the growth of technology and more.
What is a new ICO?
Initial Coin Offering is also referred to as an ICO. It is used as a means to crowdfund through the use of cryptocurrency and it is commonly used by new startups and companies. During the ICOs, the investors buy the tokens in exchange for other well-known cryptocurrencies such as Bitcoins, Ethereum, and others. Please note that there are some differences when it comes to investing in a new ICO presale versus a new ICO. During the ICO presales, the companies get private investors and it is usually not open to the public. This appears to be a good way to start building the fundament of the company and getting finances to take the first steps for bringing the company into life. New ICOs usually come after the new ICO presales and are open not only for the private investors but also for the public. The terms and conditions of ICOs and ICO presales may be different depending on the ICO and the supported geographical regions. All in all, ICOs are an opportunity for people to invest in a futuristic, innovative project they believe in and at the same time get a chance to make profits from it if it works out well enough. As you invest in a new ICO, it is important that you look deeply into its business model.
ICOs assist startups and small companies in avoiding the costs of compliance through regulation. They also prevent interferences by intermediaries such as the securities exchanges, venture capitalists, and the banks. They, however, increase the risks that investors have to deal with since they operate outside the available regulations. Because of the lack of regulations, some countries view ICOs to be a threat and as a result, they are banned in some countries, for instance, in China. Some other countries have restricted the ICOs trade since start-ups use it to bypass regulated capital-raising as controlled by banks and venture firms.
How to find the best new ICO to invest in?
- Hype– as you choose a new ICO to invest in, check whether it is in the center of the public’s attention or not. This factor can also give you an idea of how big or small is the ICO, how many people are interested in and excited about it. One of the easiest ways of finding out about the hype is checking the official social media accounts to see how many followers, likes and overall traffic is there. You can also check out the discussions that generate around the given new ICO in various groups, and chats that are used by various crypto enthusiasts from around the world. The ideas that are expressed by different people will also help you understand whether the new ICO is reliable enough or a scam, how much potential does it have and so on. Usually, the new ICOs that are scams are not able to hype up people as much as real and credible ones can. You should also check the reviews about the new ICO on reliable websites such as aBitGreedy. Checking out what experts have to say about the ICO is another common way of understanding the hype that is spinning around the new ICO.
- The team– ensure that team behind your new ICO is experienced and trustworthy enough for you to invest your money in their project. On the official website, there should be images accompanied by their names, projects completed, titles, along with verified accounts of platforms such as LinkedIn. The role of the team behind the new ICO is essential as a good and transparent team ensures quality and guarantees safety. Most of the time people tend to trust new ICOs that are initiated by successful people as it increases the chances of the new ICOs success as well. Please note that you should check the team members well enough as some fraudulent new ICOs may put up pictures and biography of random people who have nothing to do with the project. In short, make sure you feel confident when you give you money to someone and try to understand how probably will it be that the given person will make your investment a profitable one.
- Niche– Many people tend to invest in new ICOs that target big niches, which can potentially be tokenized. The niche that the business is targeting is very important as it is something that the whole idea behind the business is built around. If the niche is not chosen well enough the chances of the successful accomplishment of the goals and objective are rather low. For instance, there a number of new ICOs that are fighting against the unjust, monopolized industries and they aim to give the power back to the users. In other words, a number of new ICO are here to bring good to the society not only in terms of finances but also the changes that they can fundamentally make.
- The main concept – try to get to know the idea behind the new ICO inside out and make sure that is reasonable enough. Try to apply your predictions and accompany it with the opinions of other people. If the main concept of the new ICO is not convincing enough the chances of the success are most probably not very much.
How to Participate in a New ICO
After choosing a new ICO that you believe in and want to invest in it make sure you read the whitepaper and get acquainted with its overall structure, offers and so on. The whitepaper will also indicate the various use cases of the tokens. Try to find out what kind of token is the new ICO offering. Nowadays, the vast majority of the new ICOs are ERC20 tokens and are based on Ethereum. ERC20 tokens can be a good investment as later on you will be able to find compatible wallets and exchange platforms that list the given token quite easily. Here are some of the most well known ERC20 wallets that support a wide variety of tokens.
Ensure you have the right wallet-There are different crypto wallets for safe storage of your ICO tokens. Some of the wallets include:
MyEtherWallet >> also known as MEW is an open source wallet that has entered the market back in 2015. It is very well known amongst the ERC20 tokens as it supports a very wide variety. However, please note that when it comes to security MEW is not necessarily the best one. There has been a hack accident on MEW, which has caused a panic amongst the users of the wallet. However, from the point of view of the convenience, MEW can be a good option due to its special features and ease of use.
MetaMask >> Chrome Extension appears to be an online wallet and, therefore, is classified as a hot wallet. MetaMask is known especially for being one of the easiest wallets to use. The security of the wallet is not 100% guaranteed as the storage of the tokens is not on a hardware wallet.
Trezor >> it’s a hardware wallet, best known for keeping your coins secure from malware and hackers. Its prominent features are OLED display and cross-platform backup. Its handles LTC, BTC, and DASH and ERC20 tokens.
Ledger Nano S >> it’s a hardware wallet that stores the major cryptocurrencies including LTC, BTC, ETH (ERC20 compatible), along with a number of other cryptocurrencies and new ICO tokens. Its security features include advanced passphrase and a backup.
Jaxx >> this one is a digital asset wallet. It can hold and control Bitcoins, Litecoin, Zcash, Augur, Salt, Qtum, or Bancor. It can also be used to trade Blockchain Capital, Dash, and Ethereum. Its features are simple, yet powerful. Here, you have full control of your safety
What to Do Next?
After getting a proper wallet that is compatible with the tokens of the new ICO you want to work with make sure you have Bitcoin, Ethereum or the cryptocurrency that the given ICO accepts. Then you need to get registered on the official website of the new ICO you have chosen to invest in. Find out the minimum as well as the maximum amounts that you are allowed to invest. Please note that the permitted amounts usually vary from an ICO to an ICO.
Once you find out the details you need to send your BTC, ETH or the other supported cryptocurrency to the wallet that you are controlling. After this step, you are ready to buy the tokens of the new ICO. To do so you send the cryptocurrency you own to the address of the campaign. You are recommended to include some extra cryptocurrency as you may come across some transaction fee within the network.
Afterward, you put in your address that the ICO is supposed to send the tokens to. The speed of tokens appearing on your wallet may vary from a project to a project. The tokens are not tradable right after the purchase and you may need to be a bit patient and well aware of the ICO roadmap. In order to make sure that you are well aware of the updates of the new ICO, you need to follow their website, social media accounts, and blogs regularly. Other than the technical steps that you need to take you are also recommended to follow when the soft cap of the ICO will hit. Please bear in mind that it is very important from your side to pay attention to what is happening to the ICO after you buy the tokens as every single news can be a crucial one and have a big influence on your fortune.
In a Nutshell
ICOs are playing an essential role not only in the development of crypto-related industries but also help the world become a better place to live in with their innovative ideas and implementations. Despite the negative opinions that go around the idea of the ICOs the fact is that the new ICOs are a great way to evolve and incentivize the rapid growth in technology and crypto world that can improve the lives of people all around the world.
We hope this article help to give you a better idea about new ICOs, their significance and the roles that you can carry in them. Please make sure to check out our website for more comprehensive articles, reviews, and guides. Thank you and we hope to see you soon.