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10 ICO Tricks That Can Make You Millionaire In 2022

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Initial Coin Offering (ICO) emerged as an alternative investment for many. Cryptocurrency gave rise to many new ideas and ICO became a means to raise funds for their venture. Investing in ICO is a high-risk high reward where investors speculate that cryptocurrency worth nothing would bring value in the future. Investors are willing to take a massive bet against all investing in ICO as they know cryptocurrency can only return huge when supported at their earliest stage.

The story does not have a happy ending always, according to our survey 90% of investors suffer huge losses while investing in ICO. There are many reasons and the lack of knowledge, and wanting to get rich overnight are some factors contributing to rekt investors.

Here are 10 tricks that you can follow before investing in any ICO

  1. Website

    A website is the most essential thing to have for any project. No project can come into existence without a website. Building a website is an easy job and information can be extracted from the website like the blockchain network, whitepaper, utilities, and many more. Don’t forget to check the domain age this helps to get an idea of how long the team has been preparing for the project. Older age means proper planning and preparation must be going on. Never fall for the good graphics on the website always check for complete information.

  2. Contract

    A contract is the most important thing for a project. Only a contract can determine what the project is all about. It’s hard for a non-technical person to extract full information from the contract but there are different tools you might use to get some idea about it. First and foremost you need to check whether the contract is a honeypot or not. A honeypot contract means you can only buy but are unable to sell like in the squid game. An audit report from a verified source is important, with the audit you can check how the contract is being implemented like, whether the owner can modify tax, pause trading, blacklist, or able to mint new tokens.

    You can use the honeypot checker to check for possible honeypots: https://www.honeypot.is

  3. Token-locked period/ Liquidity lock

    The locking of tokens must be looked at carefully. A longer period of the token lock means the team is willing to work on the project and produce something meaningful. Avoid any project whose tokens are unlocked or locked for a short period of time. Liquidity must be locked in a trusted platform. Liquidity ensures the trade of the token, so a longer lock period is better. Always ask for the link to locked tokens to verify by yourself.

  4. Team information

    As an investor, you need to ask for the complete information of the team. Never settle on just KYC as it’s not a big deal for people from low-economic nations to sell their identity for a couple of dollars. Always check for the history of the team members, try to talk with them directly on AMA sessions, and try to get as much information as you can.

  5. Community

    Crypto is all about the community. It’s a community that holds power whether a project can make it or not. The most popular platforms are Twitter, discord, and telegram. Bots are the major problems and are used for FOMO by many projects. Don’t let yourself be fooled by the number of members as it’s not a big deal for a developer to add bots in the community. Detailed inspection of the community is necessary, but remember that most projects hire hypemen to keep the chat active and never get deceived by such cheap tricks. Always observe conversations carefully, ask some questions by yourself and try to relate the number and participants of the presale.

  6. Roadmap

    A road map provides an idea of how the project is going to run. The roadmap is necessary for the investors and the team as well, looking at the roadmap you can figure out whether the team is able to deliver everything on time or not. If any project cannot provide sufficient reason for postponing any event mentioned in the road map, you must immediately exit from that project.

  7. Tokenomics

    Tokenomics plays an important role in the sustainability and future of the project. The token allocation must be scientific for all the parties involved. If there are no team tokens then you can imagine why anyone would work for nothing, so the allocation must be clear, from development to marketing, burn to events, and many more.

  8. Presale transaction

    In blockchain everything is transparent with little effort you can track all the transactions and contributions made in the presale so before jumping in always check for the transactions, especially huge ones, if there is a huge contribution from a single wallet then it can be scary if that whale sells then the price might crash and you lose all your funds, however, there are many big buys then project won’t have much different if one big buyer sells. Stay alert and smart, and try to sell before big whales to make a profit.

  9. Demo or prototype

    Running a presale is not a big deal anyone can start a presale with a website, whitepaper, smart contract, and a community. But for a project to succeed and thrive, it must offer any solution. A developer working on any idea must present proof of his work, thus as an investor, I prefer to invest in a project which has a demo or prototype.

  10. Join ICO Gem Hunters

    If you want to invest in ICO and want to learn more about the ICO market and low MC projects then ICO Gem Hunters is for you. Get a chance to connect with like-minded people hold a discussion with experts from the field and get to learn many things.

    Join now: ighgroup.t.me

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