When it comes to cryptocurrency investing, participating in initial coin offerings (ICOs) is one of the most lucrative ways to play the crypto game. For people who get in on the ground floor of a cryptocurrency that becomes popular, they are the ones getting the highest returns (for the most part).
So, why wait until a coin hits the exchanges and swells up to several times its ICO price? When you contribute to a kick-off coin sale, you can earn a profit in the tens of thousands – percentage-wise, of course. Request Network (REQ), for example, just had its first token sale in October. Since then, it’s added 580% to its ICO price of $0.049.
There are a ton of other examples. EOS (EOS) has gained 826% since its ICO, Stratis (STRAT) has surged 105,638% higher since its first sale, and Lisk (LSK) is up nearly 30,000%. For those of you out there who picked these ICOs over the sea of other options, congratulations.
Obviously, it’s not a sure shot – there are a ton of scam ICO operations going on out there. If it’s not a fraudulent token sale, then it may just not generate enough investor buzz to drive its price high enough.
We decided to put together some resources for our readers so they can easily scan the ICO market and have the tools to select the right ICO for each of your individual investment goals.
Where to find an active ICO
Investing in ICOs and token sales (meaning coins like ERC20 and NEP-5 tokens) is all about timing. First of all, many ICO’s have different phases – with earlier legs of the sale offering bonuses of 10-25%. On top of that, token sales and coin offerings also have a soft cap and a hard cap – the hard cap being the maximum amount of coins they are willing to sell.
If the hard cap or the end of the ICO period is reached, then you are out of luck. You will have to find another ICO to invest in.
So, where can you find ICOs that are still active – meaning they haven’t reached their hard cap or the final day of the sale?
There are a few different sites we like, and they show a different set of ICOs and token sales with some overlap. You can scan through current active sales on:
IMPORTANT: These websites are great resources, but the dates and status of each ICO aren’t always up-to-date. You may find that you click on a sale that shows a few more days left, but realize that it has already ended when you reach the official site. Just be aware that you should click all the way through until you reach the official page of each ICO or token sale – that way you know exactly how many hours or days are left.
Narrowing it down
Now that you have screens and screens full of active token sales and ICOs – how the heck can you pick one from the pack?
Honestly, this is the most tedious part of looking for ICO investments. You sort of have to comb through each individual one – because there is only so much that a name and logo can tell you. While it would be impossible to even skim through each whitepaper, usually the basics of the coin and blockchain platform are broken down pretty clearly on each coin’s official site.
This part comes down to personal preference – you may connect with a novel type of technology that you think will be useful in the real world when it launches, you may be attracted to a specific branding/marketing strategy, or you may just have a hunch.
It’s impossible to predict which ICO will churn out a profitable coin or a coin that climbs the cryptocurrency charts – but there are some things you can focus on that will help you narrow down your options.
What to pay attention to:
- Underlying product: A good cryptocurrency investment is more than just a cryptocurrency – it is all about the technology that the coin enables. When you invest in an ICO or token sale, you are becoming a part of that project, so it should be a venture that you believe in. Choose a coin that you think will be support a useful, attractive, an successful project down the road.
- Scores: There are a few sites that evaluate an ICO and give it a score – which startups frequently boast about if they get a good mark. Some places where you can find ICO reviews are: ICO Bench, ICO Marks, and ICO Rating
- Performance: How many coins have already been sold? How does that look against how much time is left on the clock? If ICOs get close to the hard cap quickly, that shows there will be a high level of demand for this coin once it hits the exchanges.
- Roadmap: Check out each soon-to-be-issued cryptocurrency’s official site/whitepaper to check out their roadmap, which is the business plan for the development of each particular piece of technology. It will give you an idea of the timeline of events, and when you can expect the coin/product to become commercially available.
- Team: Strong coins have a strong and well-rounded team to back it up. Check out the qualifications and experience of the people behind each ICO – it will show you which startup can be taken seriously. Don’t always overlook smaller or newer teams, though, because they can surprise with a high-potential product at the end of the process.
So, there it is – we hope that you do as much research as you can before selecting which coin sale to participate in, and make sure that you keep your personal data safe online.
Happy ICO hunting!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.