There are rumors circulating around ICOs. Some say they won a fortune in a fortnight. Others claim that ICOs are nothing but scams. Despite those conflicting facts, Initial Coin Offerings still attracts all kinds of investors wishing to profit. Let’s find out how not to fall victim to fraudulent ICOs and increase your fortune.
First and for most, find the projects you are interested in and conduct your personal research. To begin with, check blacklists and see if the ICO you are interested in can be found there. After that, you may start checking the ICO itself. It is hard to tell anything judging by the information available, but careful analysis will not hurt.
Whitepaper is the core of each ICO. This document explains what is the project about, what are the main milestones, how the goals will be achieved and what are desired results. The explanation should be detailed and understandable. These are the signs of a worthy project. If, on the contrary, the explanation is vivid and short, this may indicate a fraud. Another important part of the analysis is the team. Check the information on the founders – what are their backgrounds? Have they had a similar experience? If yes, what were the results? As for the team itself, those should be people familiar with the industry itself and with the topic in particular. All of them should have social media links and real profiles.
In attempts to attract users, ICOs list their tokens on various crypto exchanges. Binapex exchange has all the promising tokens listed and open for trading. Binapex offers a token listing option for quite reasonable fee. Apart from that, Binapex provides an API connection for those wishing to watch the market day and night.