The internet is getting flooded with new cryptocurrencies being launched every day which has given the crypto market a boost of 1300% since its inception. Look at the figures of 2017, people have almost gained profits up-to 800%. Investing into ICO is a trending business but look before you leap. The show may sound “Great”, but you never know the hidden motive.
The last year had witnessed several fraudsters who just conducted the ICO and ran away for their vacation. One of the major exchanges was hacked. You never know when the things get backfired on you. And the worst part is that you cannot blame anyone except for yourself as the crypto market does not fall under legal systems. In a quest to gain profit, you may end-up in becoming bankrupt. So, here I am sharing some sure-shot ways to identify the genuinity of the ICOs.
1. Look up the background and history of Founders/Team
The first and foremost thing which should be checked is regarding the founders and the team. Explore the whitepaper and website regarding this. If the ICO is genuine, it will have a page dedicated exclusively for the founder and advisors. Google out the information regarding them. If they are well known entrepreneurs or other society members, then go ahead you are on an authentic journey.
2. Technology Used
Explore the whitepaper/ website regarding the technology they are using. If you are not sure contact a technology specialist. The reason is that most of the websites are prone to hacking. A legitimate website will have multi-layer security system and will additionally acquire services from Cloud Flare.
3. Check the Road-map
Carefully analyze the roadmap. Prefer the ICO which has certain level of code ready and not which will be starting after the fundraising campaign. If the company doesn’t have even a small codebase and is totally dependent on the funds gained via ICO, then you may be trouble. Prefer the company which has have whitepaper, website and some functionality implemented.
4. Ask on crypto-community
Still in case, you are unsure how to proceed, there are many cryptocurrencies such as bitcointalk.org, or other forums which can help you in taking a good decision. Look out for any existing thread, if not then create a one. Crypto-market Experts and analysts are there to sort out your dilemma.
5. Mission and Vision
An ICO with solid backing will definitely be having a well planned strategy and road-map. Look at the mission vision statements. Is their real motive is “profit” or they really want to do something for the society and utilize the technology for the benefit of the common man?
6. The Bounty Campaign
Yes, all the ICO follow a bounty plan but you can easily check out the ones who are posing restrictions. A real ICO, will allow anyone to participate in their campaign regardless of their followers (twitter) or friends (Facebook). Avoid such ICO as they are using the individuals just for creating the hype which is not solving their original motive.
7. Whitepaper: Go through it
Most of the investors don’t pay heed in going through the whitepaper. Their reason is that investors think the whitepaper would be using technical jargon, which they fail to understand. A well crafted whitepaper is easy to understand not only by the non tech-savvy but satisfies the gist of techies as well.
The crypto-investment market is really prospering but with a little attention paid while choosing the ICO, will certainly land you in an era of profits. Bronix is one such upcoming ICO, designed to save the common man from the hoodwinked activities of the banks and financial sector. Bronix has been conceptualized, designed and developed by a team of brilliant marketers, advisors and visionaries who are well known names in the Industry.
Bronix Platforms..!!
Facebook: https://www.facebook.com/bronixcoin/
Twitter: https://twitter.com/bronixcoin
Telegram: https://t.me/joinchat/FJUATw-VQLPU71V0W0DKXg
Reddit: https://www.reddit.com/user/bronixcoin/
Slack: https://bronix.slack.com/
Medium: https://medium.com/@Bronix
Instagram: https://www.instagram.com/bronixcoin/
Github: https://github.com/bronixcoin
Website: http://bronix.io/
Join Bronix Family and become a part of the largest and most powerful ecosystem of all times.
