Picking your first ICO (Initial Coin Offering)

Deciding on which ICO to invest in can be pretty scary, it's a much bigger risk than than putting some money into a coin that is already trading on the market.
At least if you put some money into a coin that's already on the market, you can set a 10% stop loss and take your money back out if it suddenly bombs.

What is an ICO

An ICO or initial coin offering is something that a company will do to raise funds for the project they are working on and will then distribute their own tokens or coins to the investors.
These initial coin offerings are only open for a limit amount of time, either until a set date or until the team has reached their goal.

Why invest in an ICO?

Investing in an ICO can be extremely rewarding, using the Neblio ICO for example, if you invested $1,000.00 in their ICO in August, you would now have $149,520.00 just after 5 months!
When coins or tokens are for sale during an ICO they are generally much cheaper than when they come out on the market.
View ICO Stats here: https://icostats.com/roi-since-ico

Risk

ICO's come with a great deal of risk, especially now that there are so many being offered.
There will some some ICO's out there that are 100% a scam and it could be very difficult to tell them a part from the rest.

Reduce your risk

There are a few things I looked for when investing in my first ICO and one of the main things I looked at was the team.
The team in the ICO I invested in were extremely active even before the ICO and still after the ICO sale, they are travelling the world going to all the cryptocurrency conferences putting in huge efforts to get themselves known.
They have put great detail into their website and all the videos they are releasing which makes me believe that they are in it for the long term.

Finding an ICO for you

Now we have been over the basics of an ICO, it's time to find one that is right for you.
The reason I chose the ICO I did is because it is something that I believe in and would benefit me if it takes off. I'm not going to post about which ICO it is or try and sell it because it might not be something for you.
My point here is, find something that you relate to and something that you have a connection with, if you are someone that is into eco then find an ICO that is based around that, if you're someone that loves gaming, find an ICO that is based on that. You will also find it's not so boring reading about their project because you have an interest in that and hopefully other do too.

Investing into the ICO

Lastly, you will need a wallet to invest from. Please do not try send BTC, ETH or LTC from an exchange to an ICO because there is a high chance you will lose your money.
You will need to send your coins from a wallet that is smart contract compatible, for example a popular ETH wallet would be MyEtherWallet.
This way when they allocate you their tokens you will be able to see your balance.

Thank you everyone for reading today's post.
If you have any feedback feel free to post it below.