Before making an ICO, a company will release some information about it. In general, you will know its current asset value, what it does and how much it earns annually. After you are certain about the legitimacy of the company, here are things you should do:
1. Check its Products: ICO is intended to support a product and there’s no point in getting involved if the product doesn’t appear interesting to you and probably customers. Assess the product like when you are examining regular products. Avoid any coin that isn’t funding a viable and potentially profitable product.
2. The Condition of the Company: Whitepaper is a good tool for examining a product, because it will describe the product in much greater detail. The whitepaper should also include more detailed financial report, especially because ICO is intended to provide additional funding for the company. Often, the whitepaper also includes some statistics, charts and numbers. This will also give you a clearer picture behind the venture. You should get an explanation why a company needs to use cryptocurrency and what it plans to do after an ICO.
3. Check Level of Professionalism: No matter how much a company gathers after an ICO, it doesn’t mean much if the team isn’t competent enough. It takes a lot of effort to build a good business plan. The company needs a pretty high bar to raise millions of dollars, so you shouldn’t expect less from it. Creating a good business plan and whitepaper can be quite challenging, compelling some companies to plagiarize them.
4. Check the Team: Examine the biography of the team to make sure that each individual is qualified. They could be honest, but you should also assure their capabilities. Business ideas are a dime-a-dozen, but a highly capable team can turn a common thing into something very appealing to consumers. If investors want to have a great success, make sure that the team behind the ICO project can really get things done.
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