Since 2013, ICOs (Initial Coin Offerings) have been used to fund the development of new crypto currencies. ICO refers to a project that offers investors with some units of fresh cryptocurrency or token in exchange for Bitcoin or Ethereum. The pre-created token can be traded on all cryptocurrency exchanges if there is a demand for them.
Introduction to ICO
Many investors consider this because it can become profitable. If you consider ICO, you will be ahead of other market participants. Like any investment, picking the wrong one can lead to loss of investment especially if there is something wrong on the coin or token development. With this, it is critical that you do your own research to ensure that your investment is secured.
When choosing a good ICO, there are many things that you need to keep in mind. You need to check the currencies forum page first. The forum page can give you enough information or details about the project. You should also check their project’s site. It should have a good page setup abundant with videos and images. Do not forget about the team because they will steer the success of the project.
Apart from those things, you should also pay attention to the long-term useful value. Whatever the token or coin is, it should have a real use in the market so you can see its long-term value. Finally, you should not ignore the market capitalization. When investing, it is crucial that you recognize the current market capitalization. Your goal here is to look for an asset that will generate long-term increase.
Now you are ready to identify a good ICO. Before proceeding on joining, you should consider ICO calendar. The calendar will give you details about the present and upcoming developments or projects. You will know the category, opening, completion, and funds rose.
How to join in an ICO token sale
You can now join in an ICO token sale. Here are the steps:
1. Register: you need to buy large amounts of crypto to start transacting. You can secure crypto through online exchanges. There are many online exchanges that you can consider by registering. You need to transfer money from your bank to your newly created account.
2. Exchange fiat to crypto: You cannot transact with your fiat money. Once you are registered and you saw that the money is already there, you can begin exchanging fiat to crypto. ICO need cryptos like Bitcoin and Ether.
3. Set up wallet: most exchange platforms offer their own wallet but if you want it to be secured, you can consider another blockchain wallet. You just need private keys to transact. Do not forget backing up whatever wallet you consider. The 12-word seed should be stored somewhere safe – not the cloud.
4. Buy ICO tokens: now you can finally buy ICO tokens. The good news is that most startups provide a step-by-step guide for token sale. You can easily follow the steps. Do not forget to join social media channels to follow news about the ICO.