Interested in Investing in an ICO?

in #ico7 years ago

What is an ICO?

  • They are initial coin offerings that allow the development\creator of the token to raise money by exchanging their token for other crypto currencies that have an established value in the market. Most ICO's accept Bitcoin and Eitherum as a form of exchange.

Benefits:

  • Reason why you would consider buying into an ICO is enormous PROFITS one can make. By participating in an ICO you get in at the ground level and a cheap price if the company is legitimate. If they have a good team and product -- potential to make 100 to 1000% gains is very common.

Risk:

  • The ICO hits the market and the valuation tanks and goes to zero. This could happen if the team/product is not good. A lot of investors wait till the product hits the market to get a sense of the markets valuation of the token.. however they miss out on huge gains if the token is successful. Usually you will see a sharp rise in the token followed by a correction... Then it will stabilize at the right valuation..

Vetting Process:

  • Look at the product and see if its something that is revolutionizing to the industry. Is it something that would benefit this industry? Benefit the economy? Improve on a process that is currently
  • Look at the TEAM! What is the teams track record? How long have they been involved within this industry and what is there resume look like.
  • Look at token allocation.. figure out what percentage is given to stake holders, development, developers etc. If they have a good distribution and vision -- That's what we look for...

Tools:

  • I highly recommend going to "http://icorating.com/" and checking out there reports. They dedicate resources to creating reports on upcoming ICO's. They detail the advantages and disadvantages of the token. They will provide a rating at the end of the report which will aid in your purchasing decision.

How to get in?

  • Usually you will have to set up a "myeitherwallet" to participate in a majority of the ICO's. Reason for this is because its easier for the company to redistribute there tokens to that wallet.

  • Typically you will visit the ICO's website. They will give you an "Address" to send you tokens to (NOTE* ALWAYS SEND TOKENS FROM A WALLET AND NOT EXCHANGE) and require you to input a receiving address... Once that is complete you can check your transaction on eitherscan or blockinfo - depending on what you used to purchase the ICO token.

Finally: How to check in myeitherwallet for the new coin

  1. Once you have purchased the new "ICO Token" you will have to add it as a Custom token to your MyEitherWallet.
  2. Log into myeitherwallet
    - Click on send and receive
    - Look under "Transaction History" and click on Tokens (Ethplorer.io)
    - This will open a new site where all your purchases will be located
    - Click on the new ICO Token and copy the following Items:
    - Contract Address: Located under the token name
    - Symbol
    - Decimals
    - Go back into myeitherwallet and click add custom token - Input the information

Hope this was helpful

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Bitcoin Blockchain Raises Record $40 Million in Google Ventures-led Series B

https://steemit.com/bitcoin/@yinka/bitcoin-startup-blockchain-raises-record-usd40-million-in-google-ventures-led-series-b

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I have never invested in an ICO before, but I am more interested in it. Icorating is a great tool I did not know at all. I will follow you because you are full of good advice for beginners in crypto like me :)

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