An ICO is when a new cryptocurrency is released, in exchange for another crypto or fiat currency. Knowing how to pick which ICO to back can be tricky, and it is so important that you thoroughly do your research as there is no guarantee that an ICO will pick up, and become a fully fledged cryptocurrency. As a start, you should research the team, read and analyse the Whitepaper, know who the developers are, consider if it will be long or short term, join their social media and do your research.
Here are just three ICO’s that are being released this month that we believe you should keep your eye on…
The presale of this ICO began of the 31st January and it is already more than halfway to their soft cap. Their aim is to be an early entrant in providing a way for businesses and users to spend crypto with each other. They have even gone as far as to build a downloadable platform for users to check out.
There are some huge advantages with this ICO: it is a dev team, they have a great bonus of 56% (albeit for the short term), they have very positive reviews from leading ICO sites, and they have a huge presence on social media even though it is so early on in their coin release.
The concern comes when you consider their large bonus. This is normally a cause to worry; however, even this can be alleviated when you consider the fact that the high bonus is short lived, and it is only being given to the first 2 percent of money raised. It is definitely one to watch.
KYC Legal solves a purpose that is currently plaguing the blockchain, and this is if individuals who invested in the crypto space were firstly pre-approved on KYC Legal, it would make the process so much easier, and would lead to many other functionalities that are at present, stalling.
KYC Legal is no longer in presale, but is quickly moving towards their hard cap, which is always a positive sign. The main aim of KYC Legal, is to solve the blockchain issues that are getting more and more significant as more ICOs are released.
The HireMatch ICO ends mid February. The team that has developed this ICO are incredibly experienced and are the founders of Recruiter.com. The aim of HireMatch is to provide a monetised incentive for recruiting services to anyone able to recruit. This would ultimately remove the need for recruitment agencies, which can be costly to the consumer.
Instead of taking a chunk of your salary, they would pay the friend who referred you a small amount in HIRE tokens.
Many people are put off ICOs because there are a number of different scams that hit crypto space, and this is why it is so important to do your research well.
Image Source: Pixabay