What do you need to know before investing in ICO?

The ICO market is developing very fast. New projects appear every day and it becomes more difficult to choose the right one. Almost all members of the Briastorm team are investors, so we decided to tell you about several rules that we use when choosing projects for investment.

The main rule — do not risk money that you are not ready to lose. That’s the first and the most important rule.

Step 1: Understanding the basics

There is information that is fundamental to every ICO. If you can’t find it or information seems suspicious to you, then this is an excuse to run away from this ICO.

What kind of information is it?

1) The team and their profiles in social networks.

2) Information on the distribution of tokens and revenue.

3) The working product is ideal. If there is no working product, there should be a detailed document and a roadmap, which outlines the future plans of the project.

4) Whitepaper. This document should include all important information about the company. It should be understandable.

For example, Briastorm has already launched its own marketplace.

Step 2: Study and ask questions carefully.

Read all the information on the website. You will have to take time to read all the information. It will help you to make the right decision. Then ask yourself the following questions:

• Why do you want to participate in this ICO?
• Does the project have potential in the market?
• Will you use this product?
• What problem does this technology solve?
• How good is the team?
• What will happen to the market in the future?
• What does the road map look like?
• How can I use tokens?
• How good is the design, product or demo?
• How is the ICO market and cryptocurrency regulated in your country?

In addition to the website, check the information on popular resources about ICO and cryptocurrencies.

Step 3: Follow the project on social networks.

Most projects have accounts in social networks to communicate with investors. Usually it’s: Telegram, Twitter, Facebook, Medium, Reddit and so on.

Participate in discussions and see what other people write about the project. Ask questions in the comments or ask the team directly.

As the market grows, the number of experienced investors increases, who can help you with advice. Do not miss the opportunity to learn more from them.

Step 4: Double check!

Whenever you invest in a project, double check the following:

1) Is the website where you purchase tokens an official website of the project? There are many fishers and scammers trying to get your information. You can send money to the wrong place.

2) How to get your coins. Many ICOs have their own wallets that need to be downloaded.

If you followed all the rules, you did everything possible not to run into the scum. Further, your investments will depend on the success of the ICO. Therefore, follow the news of the project and be aware of any activities. Be patient and strategic. Always remember the reasons for investing in the project. In pursuit of instant profit, many people don’t wait for the real take-off of the project and its tokens.

Invest in the Briastorm project — all the necessary information on the site briastorm.io