As we are seeing many cryptocurrency projects coming to the market, new tokens via ICO are available to fund the further development of these projects that promise great returns. There are plenty of ICOs that we know are extremely lucrative but you also should know about the many projects that are either malicious, scams or unsuccessful. That is why you need to ask yourself these questions before you decide to invest.
Can This Project Really Solve a Problem?
You can see a great project if it tackles a problem that is really important for the market. This way you can see that it pays off to put your money into a certain project. Whether it’s a completely new, revolutionary idea or simply improvement of an already existing option, it’s a good way to invest in it.
Does It Need Blockchain?
You need to know that not every project needs to be decentralized. Sometimes centralization is a much more efficient method for a certain project to function. Many new startups are trying to use the blockchain technology in order to get easy funding. If you believe that the project is simply taking advantage of the blockchain technology, it’s best to drop it.
Will It Have A Market?
Any new project or startup must meet the market’s demands. If people aren’t using it or aren’t interested in the project, the project is most likely destined to fail.
What’s The Team Behind It?
You should always check out the team that is behind a certain project. Those with a higher number of experts and developers have a greater chance of success. You can easily find this information on many social networks or even websites.
Are You Prepared To Lose Money?
You should always be prepared to lose your initial investment. You may have heard it a million times but only invest what you are willing to lose.
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