ICO – A Road to Million?
Last weekend, I took an off from work in order to attend a seminar regarding ICO’s. During the three-hour talk, I was able to understand the technicalities of Cryptocurrency, and the simple strategies on how to spot a good ICO. I was also able to see how to create your own ICO! Those programming sessions are beyond comprehensible for me that is why I will only be sharing the zest of the whole discussion -- How to spot good ICO’s? Can this investment give you millions in the future?
![a road to million.png](https://steemitimages.com/DQmZy3c1jkjCw5rkPJGjBhyoLZULnzfdiVwgfRSiyYQqRwb/a%20road%20to%20million.png)
What is an ICO?
ICO or Initial Coin Offering is a presale of new Cryptocurrencies. Such sale aims to gather fundings from early investors who believe those neophyte coins will yield greater value in the future. ICO’s offer cheaper prices than their actual perceived worth. Indeed, there are numerous ICO’s that can attest how a minimum investment can yield an exponential growth after they’ve been listed in the Cryptocurrency market officially.
![Untitled.png](https://steemitimages.com/640x0/https://steemitimages.com/DQmdxgnsprzHmxWrGbx7wJwuWhUTqqNu68f9qpLzSvkdnJ2/Untitled.png)
The photo above is a list of successful Cryptocurrencies that have gained a significant return of investments over the years since their respective initial coin offering periods. See full list here.
![sdas.png](https://steemitimages.com/DQmYaMx7a7DMJys11Kwbdn1NE3t9AovrucaLat6onbKWRqD/sdas.png)
However, not all ICO’s propelled successfully. In fact, some of them just puffed out and disappeared on a thin air carrying those thousands of funds from the investors. Some of which are ToTheMoon, Karbon, Hong Coin, and Borg DAO. Kindly read the reviews of these fraudulent coins here.
With the ICO or initial coins offerings’ links popping up on your social media sites with a promise of a “gold rush”, it is important to look at the following points first before throwing your bitcoins and ethereums into those unfamiliarly unregulated investments:
Team Profile. You have to know the credibility of the team initiating the ICO. Take time to identify their previous projects and their contribution to the virtual world. As much as possible, scrutinize each member of the team and be careful not to end up with the doppelgangers.
Concepts. There are many ICO’s aiming to provide a solution for existing problems arising in the Cryptocurrency world. Some ICO’s may offer the same purpose presented by an existing Crypto coin. You just have to weigh which coin is better in terms of cost, credibility, and innovation.
Whitepaper. This is the very backbone of what the ICO can offer. This will serve as the written manifesto of all the information and proposals necessary to aid prospect investors the idea about the project.
Target Market. Consider the target market of the ICO that you are about to invest for some of them are incorporating Cryptocurrency with healthcare, real estate, cloud storage, lending, staking, etc. It is best to invest in ICO’s having markets which you can relate.
Usability. Does the ICO you are eyeing covers and offers great usability in the future? If the answer is yes, then it has a great chance to become greatly valuable in the future.
I myself have bought NAGAcoin during its presale. It is an ICO backed by a German Stock Trading Platform. Right now, its current value is almost thrice my capital! I am planning to buy more ICO's soon; so this article is basically a note to myself.
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Research is important in finding out if a certain ICO is relevant or legit or not. Do not be swayed by buzzwords or perceived hype. Do not invest just because your friend invited you to it. It is your responsibility to do your own research before diving into these so-called “Road to Million Coins”.
Financial Literacy Campaign Updates:
My fellow Financial Literacy Advocate @namranna made "The Seven Cures of a Lean Purse" series. This is an excerpt from "The Richest Man in Babylon" by George S. Clason. This series reveals the secrets of Babylon's Wealth that are essential for Wealth-building. @namranna just revealed the fourth cure lately, and I hope you'll find time to read this interesting revelation:
I also initiated #thebudgetchallenge lately. This is a contest for creating a budget plan. Please read more of the details here
The following entries are submitted by our fellow Steemians. Maybe you can learn from them too!
How am I surviving the real world... by @mickzzz
Principles and Systems for People Who Can't Stick to a Fixed Plan by @thegaillery
Living on a Tight budget by @danyopana12
My Cashflow Management by @namranna
My Own Version of Budgetting by @jonnahmatias1016
My B.U.D.G.E.T. Principle (A Witty Way towards Financial Freedom) by @nikkabomb
Budget Plan From An Engineer Who Used Not to Save by @caratzky
If you're from Cebu, Philippines and you want to learn more about Financial Literacy, Cryptocurrency, and Steemit, don't hesitate to contact me on my Facebook account or you can just comment it directly on this post. We can do meet ups during weekends.
Wow amazing @smaeunabs! Never thought that cryptocoins have initial offerings, too! I bumbed that same concept with businesses aiming to go public, which is also termed as IPOs. So happy knowing these from this post @smaeunabs! Really simplified for a newbie like me to understand.
yay! welcome man! ICOs are unregulated counterparts for IPOs. Are you planning to invest in IPOs?
I'm considering that, too. Maybe some time in the future @smaeunabs. Need to know more how to evaluate a good business to invest to as they go to public. How about you?
I am also thinking about it man since I have opened a COL account last Sat. hahahah I will venture more on stocks soon
Amazing @smaeunabs!!! Good to hear this from you 💕
Maganda yang mga ganyang seminars. :)