Crypto Investing for Beginners

in bitcoin •  8 years ago  (edited)

In the recent days, I have been researching a lot of ICO offers. I saw all sorts of innovations and "innovations", teams with credible and made-up backgrounds and what not. With that and all the hype going on, here is my simple checklist for the wannabe (crypto) investor:

  1. Research the team. The realistic research scope is checking out social profiles. Pay attention if none are present or have been created very recently. Bonus points for teams with members from different countries. 
  2. Check what existing technology can actually be already there and the ICO is rather not needed. People are building the new Ethereum freaking daily, as it appers. 
  3. Show me the GitHub, I'll show you the coins. If you are no coder, have a tech friend read through the code and assess it. 
  4. Check if your investing in an Ethereum-based technology or a brand new type of blockchain. Both have pros and cons, I will try to cover them in a later post. 
  5. Community management - another no-guarantee point but it is a sign of good will and long-term interest. Bonus points for ICOs having a community manager who is ready and willing to answer questions and tackle uncertainties. 
  6. Check for pre-ICO investment. If there is such, it could be a positive sign if made by an institutional investor. 
  7. No crazy returns are feasible, so don't fall for that. 
  8. Follow critical communication channels. For many ICOs that is Slack, in my view - because of its instant nature. Be there and follow what people are saying, if it makes sense.
  9. White papers are a fundamental piece of information. Stay alert for convoluted or unnecessary terminology. "If you can't explain it simply, you don't understand it well."
  10. Lastly, remeber to diversify. Do not put all your coins in one bucket.

Happy investing,

Chris




Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Congratulations @chrisstov! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You published your First Post

Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!