Invest in! Big checklist of the ICO projects

Every day there are hundreds of ICO projects appear. Each of them plans to raise as much money as possible, offering investors new ideas and solutions. Unfortunately, some projects turn out to be a scam or not fully thought out. As a result, thousands of people invest in pre-losing tokens.

First of all — check the main idea of the ICO project. Is it clear? Ideally — the main idea should be described in 1–2 sentences. Also, it should be easy to understand and realistic.

A good product must solve a problem. The more people it can help, the better. If the project does not solve any problem or this problem is not relevant for a large number of people, then the clients (users) of the future product will not be enough.

Further, from the description of the project, you should understand at what stage of development the product is now and whether it has potential or real users.

Check if the project had an investment earlier? Where did the money come from? How did the team spend the budget?

Does the project have an MVP (Minimum Viable Product)? MVP is a stage of the product, that includes the proof that it solves a real problem for users so that they are actually finding benefit in adopting the product. If the product is already at this stage, then the project is likely to be implemented.

Does the ICO project have partners? Who are they and how long have they been on the market? Known partners are an indicator of the reliability of the project. There may be few of them, but if they are respected companies or agencies, this adds credibility.

High-profile partnerships may have a great impact on established crypto companies. Take IOTA for example. Most people had never heard of IOTA before they announced a partnership with Microsoft. In one week the price of a MIOTA jumped from $1 to almost $6. This announcement was quickly retracted, but the popularity of IOTA remained.

The team is the key indicator of the project. If the website and whitepaper do not contain information about the founders and members of the team, this is definitely not the project you should invest.

If there is information about the members of the team, but there is very little of it — this is also a question. Either they do not want to fully reveal who they are, or they do not have enough experience to realize the idea of the project.

If the information is enough, do not be lazy, read about the founders and key players. Google the names, previous workplaces. Do they have experience in crypto, were there any good crypto projects before? Go to their social networks. They will tell more than the description on the website. Look at how these people conduct their pages on Linkedin, Facebook, and Twitter. How do they communicate with friends and partners?

From which countries are the members of the team? This is also very important, as the legislation of different countries regulates blockchain projects in different ways. Hong Kong, Great Britain, Australia, Brazil are most loyal to the crypto market.

Look at the list of advisers. Who are they, what are they doing? How are they related to the project? What is their role in this ICO? Are they do something for the project or their photos presented there just for PR?

Write a message to one of the team members or advisers. See how quickly they will respond and if they answer at all? In a good case, must be a Telegram chat, where every potential investor can ask the question directly to the representatives of the project. Communicate with them there!

Look at how the blockchain works in this project? Is technology important there or it’s just written about to be in a trend? What about hard cap and soft cap? Is there a refund policy if the soft cap is not assembled?

Look carefully at the section of the token! There should be all information about the token sale: name of token, price, token type, total supply, exchange rate, a hard cap and soft cap. Also — token allocation and funds distribution.

Is there a bounty and a referral program? What are the conditions for participating? Bounty and referral program may not be — this is normal. Not all projects have these items.

Is there a process of the KYC? At the initial stage, this procedure is not very important, but its availability indicates the serious intentions of the company.

What will happen to the unsold tokens? Is there a clear plan for their destruction?

In addition to all of the above, the project should have a realistic and up-to-date roadmap. Because of the roadmap, it is very easy to understand at what stage the ICO project is now and where it is moving further.

We hope that these recommendations will help you to invest in good and reliable ICO projects that will bring you only profit.

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