You can benefit from investing in fresh currencies or ICO (Initial Coin Offering). Investing is profitable because you can get in asset quick and you are often ahead of other market investors or participants. However, like any investment, picking a bad coin or token can lead to complete loss of your investment especially if something goes wrong on the development.
For this reason, you should learn how to identify a good ICO. Many industry movers and leaders give tips on how to identify a good one worth your time and money. The first thing that you should consider is to check the page setup of the project. Anything short is mediocre. The team should put more effort into developing a solid and structured page because it will reflect the quality of work they are putting in. Aside from that, it will be prudent to choose a team that has produced several successful projects.
To get the most out of the coin or token, it should have a long-term useful value. More importantly, you have to consider the market capitalization. You are looking for an asset that will generate a long-term increase of use for a particular market. It should be underpriced and undercapitalized to enter the best price. With the things mentioned, you can surely identify the right one.
When choosing, you can also consider ICO calendar. The calendar can give you information about the description of the upcoming and past projects. It will also give you details like opening, closing, category, completion and the funds raised. After choosing, you often wonder how to participate in the token sale. Here’s how:
Register with an exchange
The first thing that you should do is to register with an exchange. There are many crypto exchanges that you can consider. The exchange can help you send your transferred money from your bank account to your newly created account. The registration process will take a few days.
Exchange fiat for Bitcoin or Ether
ICO usually need crypto currencies like Bitcoin or Ether. You cannot participate using your fiat money. You already registered with an exchange. After few days, you can exchange EUR or USD for crypto you want to buy. The process time will depend on the blockchain. Your crypto will then be sent to an online wallet offered by the exchange.
Set up wallet
It is not safe to keep large amounts of coins online since exchanges are also vulnerable to attacks. The prudent thing to do is to set up your wallet. Most token sales these days happen on Ethereum. With this, you need an Ethereum wallet to participate successfully. There are many wallets that you can consider but identifying the right one is challenging. You can read reviews and discussions to help you decide.
Buy ICO tokens
You are now ready to buy ICO tokens. Before buying, be sure that you understood the purchase agreement and the general terms. The good news is that you will be provided with a step-by-step guide for the token sale participation. Right after the token sale ends, you will receive your tokens.
When you have the tokens, you have to ensure that it is properly kept from prying eyes. You have to look for secure wallets.