So recently I got into quite a number of Initial Coin Offerings (ICOs) just to diversify. But it seems that I've lost out on some great opportunities rushing out to relieve funds from some maturing coins like STEEM and Bitcoin, putting them into completely new ones instead. Here are some key insights to serve as a reminder for anyone else, including myself:-
Remember that sales pitches and bonuses are mostly to cause anyone to FOMO and buy into the hype. Project incubation periods are usually longer than expected.
There's really no point buying into ICOs early on especially if they're expected not to sell out like hot cakes. Even if there are bonuses earlier on, consider the potential value of the coins you're giving out. They can appreciate in value during the course of any crowdsale campaigns, so you may even end up with more tokens if you buy later. It really depends on what value the tokens are attached to.
All in all - patience is key! Don't need to rush. Although to be fair, the situation may end up being the other way around if Bitcoin goes down in value instead of up during the ICO. But who are we kidding? The belief in Bitcoin keeps piling on and on to no end.. so please consider the near-future value of the "old" token you're planning to give out. And now we may have a new problem - many great ICO opportunities will be gone if you aren't quick enough ;)
Here are some great, relevant resources:-
Smith & Crown - https://smithandcrown.com/icos/
CryptoPortfolio - https://www.youtube.com/channel/UCI9POyyP-f93JHfkhr2ma2g
Crypto Judgement - https://medium.com/@cryptojudgement
