Investing in ICOs is one of the most viable ways to get rich online. Everyday people buy new coins and exchange them with ordinary currency for huge profits. You can start investing in news coins to get rich quick out of this lucrative industry. Mine is to put you on the right path to success by giving you four experts ICO list investing tips. Let’s get started:
- Beware of Scammers who advertise fake ICO list projects
The initial coin offering industry is one with a high level of fraud. Most online fraudsters can be found in this industry. They con hardworking netizens by advertising fake ICO list projects many unsuspecting investors will fall for.
Before you put your money in an ICO, research the project thoroughly. Find out more about the company or individuals behind it. Check the profiles of the team members online to verify that they actually exist. Social media and internet forums can be great ways to get valuable data.
- Read the whitepaper and evaluate the use cases
Once you verify that an ICO listing is authentic, try to find out more about it by reading its whitepaper before investing. For starters, a whitepaper is an authoritative report that gives comprehensive details about an investment project to help investors understand the project fully so that they can make an informed decision.
The company’s whitepaper should clearly explain how the offering will be conducted, the measures it has put in place to ensure transparency, the potential returns on investment, etc. If it is not convincing enough, avoid the project.
- Stable Coins Vs Traditional Cryptocurrency Coins
Stable coins are the next generation of blockchain currencies. These coins are designed to be as least volatile as possible relative to some “stable” asset(s). A stable coin can be pegged to exchange traded commodities like precious metals etc. They can also be backed by fiat currency.
The same cannot be said for traditional cryptocurrency coins such as Bitcoin, Ethereum, etc., which are not backed by anything. As such, these digital monies are not stable enough in terms of their values, which can increase or decrease significantly in an instant.
Due to stability, a stable coin ICO list project attracts more investors than a traditional crypto coin offering project. If you are presented with two investing options; one for a stable coin and another for a traditional crypto coin, you had better choose the former due to stability.
- Coin Supply
Is the coin still under-supplied or already oversupplied? It would be a plus if the crypto is still in low supply due to valuation benefits. After all, scarcity attracts whereas abundance repels. Scarce coins have a higher return on investment than abundant coins.
Conclusion
These are the four expert tips that many successful ICO list investors used to become rich. To increase your chances of making it in this industry, watch out for scammers, understand what you are putting your money into, look out for stable coins and only buy coins that are in low supply.