With over thousands of Initial Coin Offerings (check out our ICO Calendar) to choose from, has rendered the investors in a state of confusion. The organizations behind ICOs use more of manipulative techniques rather than the developing an actual problem solving and impact making a product.
Here are some of the tips you can use to select an ICO:
Comparing the ICOs.
This particular method of evaluating an initial coin offering can be beneficial for both the investors as well as the company. Both of the parties will be eager to know how the ICO differs from others. The investors would be looking for the ICOs which would give them the preferred long-term return on investment and the selection among the similar ICOs. For the ICO team themselves, it would provide an idea of which field they should be working on, in order to achieve a similar level of success of an already successful ICO. With thousands of initial coin offerings coming up every year, the analysis becomes very time consuming and an in-depth analysis is required which makes it all the more difficult.
How to do it?
The best way to evaluate an ICO is to create a rating scale based on a number of success parameters. The important parameters to be considered are.
It is very important that the complete information about the team members is available as it reflects the quality of the product that they develop. Team information on their website and also links to their other social media profiles will gain trust among the investors. Also the number of team members matter. A team with only two developers can turn out to be not that successful.
Complete information about the Initial Coin Offering must be available. The starting and ending date of the pre-sales and other critical dates must be mentioned clearly on the website. This can be done intelligently by creating a countdown which might attract more investors.
The way of product presentation
The way in which the product is presented depends largely on what kind of product it is. It might be a service, platform, product etc. A professional video on the working and the concept behind the projects reflects their commitment towards it.
Minimum Viable Product
An MVP is a product that has enough minimum features to satisfy the requirements of the customer. It is usually like the alpha or beta version of the product intended to gain feedback for their improvement. This feature is not that common for now, but if made readily available can be used to gain a lot of trust among people.
The quality of the ICO can also be speculated through the activity of the organization on various social media platforms. Since the crypto world is so much influenced by the news, activities of the organization on the social media play a major role in the success of the ICO.