It’s easy to label any cryptocurrency activity as fraudulent or fake due to the virtual nature of its existence, and the number of scams involving ICOs doesn’t help the situation. There are certain elements of cryptocurrency and ICOs that are as real as you get. It’s just a matter of understanding what elements they are, and having them portrayed transparently by a well-meaning team. Before deciding to invest in ICOs, make sure you thoroughly investigate all of those aspects that need to be real in order to make an educated and not a mislead decision.
Real people
For the average person, it isn’t easy to establish whether or not the team behind an ICO project is trustworthy and reputable. An experienced ICO and/or crypto investor will have a greater idea of what to look for, but it’s incredibly important no matter who you are to do a thorough and ongoing background check. Does information about key founders appear shady? Do they make public appearances? Regardless of a teams presence online, real people need a real presence in the real world. Technology has only come so far and we can’t trust everything we see and hear online. Ensure that the team you’re supporting are out there meeting people in the crypto community.
Real product
In the past, many ICOs were extremely successful in fundraising without even the beginnings of a product. With no more than a Whitepaper, companies managed to raise millions upon millions of dollars, very hard to imagine now. These days, the good start-ups have identified the need to develop at least a POC or MVP in order to show largely discouraged former ICO investors that their team are completely committed, and to show what they are capable of producing. Some ICOs have gone a step further launching a fully functioning product before the first round of ICO, FinanceX for example. When thinking about investing, think, do they have a real product? To protect your investment, don’t settle for anything less than a minimum of a demo product.
Real roadmap
Any ICO provides a roadmap for investors which shows the development path of the project. The ambitions and expectations of the project are laid out clearly giving pre-investors an opportunity to analyze the likelihood of success for themselves. Scam ICOs mark out their roadmap in an inspirational fashion that seems too good to be true. It’s important to look closely at the feasibility and potential of the project, and also where the project is today to compare and estimate the projected growth. In contrast, quality ICOs will give investors confidence, trust in the goals and milestones of the project as they are not too greedy and out of reach. During the ICO period, the investor can fully test whether the project has followed the agreed schedule or has failed to deliver and hides in the dark. Only those that create a real and reliable route are worth your investment.
Real performance
In order for the plans in the Whitepaper to materialize, the operators of ICOs must work continuously even without day-to-day support of their customers. They must also participate in blockchain events locally and abroad ensure the crypto community is well aware of them. When it comes to publicity, there must be clear photos and videos as investors will feel more confident seeing founders and CEOs out in public, not just hiding behind a computer screen. Obviously, it’s difficult to get to know the ICO team personally, but the images of real activity will help investors feel more confident when parting with their money.
Conclusion
It is undeniable that following investment disasters in ICOs of the previous two years, ICOs worthy of investment must produce “The 4 Reals” as stated above. They need to do everything in their power to create transparency that goes hand-in-hand with the quality of their products.
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