Is investing in ICOs right for you? To answer this question, it is important to notice that investing styles vary from individual to individual, and it is primarily triggered by their financial requirements and understanding of the investment landscape. Coming back to ICOs, if your financial life is in shape, and you are planning to leverage this growing asset class (cryptocurrencies), this could be the right opportunity for you.
Here are some tips to invest in ICOs:
Establish financial expectations: The first and foremost important step is to establish your expectations of cryptocurrencies or digital asset investments. Set an investment goal and prepare a purchase strategy accordingly.
Research and knowledge of ICOs: A majority of the ICOs are based on blockchain technology, which is relatively new, so itís important to do ample research and understand what you are investing into. Secondly, a complete vetting of the ICO is a must before investing any amount at all. Some of the key factors to research include the business model of the ICO, project team, community feedback, product stage, and expert opinions.
Legal risks: Unlike the current regulatory environment surrounding ICOs, government agencies might scrutinize ICOs in future and ICOs may not be conducted the same way as is currently done. It is advisable to choose ICOs that follow the governmentís regulatory guidelines.
Only invest what you can afford to lose: Do not fall into the current Wild West run surrounding crypto-currencies and ICOs. Invest only what you could afford to lose. Start with a small amount and move gradually forward.
* Kindly note that by making use of the ICOWatchlist platform, you agree to our Disclaimer & TOU and are aware of the fact that the platform does NOT give investment advice. It is prudent to do your own research.