Recently, there has been a ton of hype around Initial Coin Offerings (ICOs) and I have fell victim to the craze myself. The most recent token sales I have participated in have been frustrating and irritating because of the mass FOMO.
I don’t invest in every ICO, but I do a preliminary evaluation of each of them with the questions below.
TenX ICO is tomorrow morning and these are the questions I am asking myself about them.
- What problem are they solving?
- Will users use this tech? Is there a market?
- Have they built anything yet?
- Market timing?
- Who’s on the dev team? What other projects have they worked on?
- What is there monetization plan?
- Do they have a roadmap? And is it logical?
- Have I read the whitepaper?
- How many tokens will be issued?
- What is their participation plan? Are they targeting whales?
- Do I even believe in the ideology of the company?
- Is this PoS or PoW?
This is not a comprehensive list by any means and I am not your financial advisor, but I do mentally go through this list before participating in any ICO.
I encourage all of you to do your due diligence before buying into any ICO, even the popular ones.
Did I miss any major questions in my list? If so, please comment below.
Thanks for reading, and happy ICOing!