Top 5 ICO rating sites that can help seperate the wheat from chaff
Getting started in cryptocurrency and blockchain technology presents a very steep learning curve. Once you have enough knowledge to navigate the basics and start investing you will sooner or later come across an ICO that promises you the moon or more. But ICOs can be a pretty tricky thing since they can be full of traps and require a lot of research (perhaps even a tiny bit of luck) before you can be sure they deserve your trust.
In 2017 we saw everybody and their mama jump on the crypto train and the scene exploded with ICO projects. Combing through thousands of ICO’s to invest in and find the right one can be an overwhelming challenge. It takes a brainiac with too much time on his hands to tackle the research involved. However, a decent place to start the process of informing yourself is to check out the many ICO rating websites that have popped up along with all of these ICO’s.
As with any rating, e.g. on Yelp or TripAdvisor, you should take the ratings with a grain of salt. Cross-checking ratings on different sites can be a good tool here. That being said, here are 5 leading ICO rating websites we find most useful.
ICObench
ICObench is a social ICO rating platform supported by a bot, aptly named benchy. Anyone can register and fill out some personal information to apply as expert. In case they get approved, they are now able to publicly rate ICOs based on three factors: Team, Vision, and Product
ICObazzar
ICObazaar uses a system that consists of a weight-adjusted formula with five factors, each of which evaluates some separate aspect of the project/ICO — the weight of each factor was determined by ICObazaar’s blockchain and finance professionals and reflects the perceived relative importance of each one. The sixth factor consists of the rating score (on a scale of 0–5) made by an industry expert advisor/investor separate from the ICObazaar team.
ICOmarks
ICOmarks uses a wide array of information to thoroughly assess a project. The so-called ‘marks’ evaluate factors like the amount of information about the ICO. Other factors, evaluated by ICOmarks’ experts, are the ICOs social activity, domain score (Alexa rank, number of backlinks…), team proof, the market potential of the product, the project’s implementation stage, a competitive environment analysis and relevance of the problem the product aims to solve, the business plant etc.
ICOstock 24
ICOstock24 aims to provide a balanced cross-check of ICO ratings published by 6 agencies they found were the most reliable. These are icorating.com, foxico.io, icobazaar.com, icobench.com, trackico.io, and icomarks.com. This makes ICOstock24 a handy rating evaluation tool.
They also give their own compound mark that is based on the ones by the top ICO rating agencies. This way the investors can see the general picture of a certain ICO on a whole new level.
ICOrating
As far as we know, ICORating was the first ICO Rating platform out there. The service acts as an agency that focuses on evaluating ICOs based on hype and risk. Both of these factors are extremely important.
ICORating also provides a thorough analysis of ICOs, sometimes as long as the ICOs whitepaper itself. However, this service is a paid one which ICOs have requested themselves.