Hi again,
I thought I would talk about my first ICO investment experience this time. Since cryptocurrencies brought me to this platform, I might as well elaborate a little on my experience in the crypto world.
I already had some in depth knowledge about the crypto market and decided I would take the first real steps in the field a few weeks ago.
I started out safe with acquiring a few Ethereum coins as a solid investment. Although inherently a good move and a relatively calculated investment, I quickly began to think that this might not be the best investment I could make. A good investment nonetheless, but not the best.
Investing in the world of cryptocurrencies is risky business, that’s clear. So why not go for big gains?
That’s where an ICO comes in. Initial coin offerings give you the opportunity to invest in a project you believe in, with the potential of generating a high return on investment. But how do you pick the one that’s right for you?
Besides being something you truly stand behind, an idea you believe in, some other boxes need to be ticked (perhaps not necessarily all of them though) (source: Suppoman Udemy):
- Does it have an active community?
- Does it have a reward or dividend system built into it?
- Who is in the team behind the project?
- Does it have a certain ‘uniqueness’?
- Does it solve a (big) problem?
Going through a pile of ICOs and using the above mentioned criteria as some sort of guideline, I finally stumbled upon a project called Substratum. Now, I’m not saying this checked all of the boxes, but it was something that I wanted to get involved in for the long term. And Substratum does aim to solve a huge problem that affects millions of people. You can find all the info you need on www.substratum.net if you’re curious. So, after some reading and analysis, I took the step and invested some ETH in it.
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Now for the experience… I must say their team is amazing. They carefully help anyone in need or anyone with questions. They helped me every step of the way and answered all of my questions clearly (and quite fast too). This really gave me the feeling that my money was ‘safe’ and that I made a sound investment (only time will tell for sure).
I guess what I’m trying to tell people here is to use your head and your gut feeling simultaneously while investing in something as risky as cryptocurrency. Also: do it with money you can spend.
This article is meant to share a personal experience, but has no intent to give people financial advice in any way.
I hope my experience can shed a little light on how to approach investing in an ICO.
Best wishes,
Mats