Cryptocurrency has made lots of people rich with little or no investments made. it has brought lots of innovation and great minds out of their shell in the former centralized systems. It has made the technology behind its success more pronounced and popular, cryptocurrency is the new way to tokenize and decentralized everything.
Several years ago, bitcoin was so cheap to the point that a certain man had to use over 10,000 bitcoin to buy pizza. Imagine how cheap it was then compared to today. That amount of money on today’s conversion should be over $60,000,000. He sold because he couldn’t see the future, if only we could look into the future sometimes.
That bitcoin then would have been worth about $100, or maybe $500 max, imagine if he bought it (BITCOIN) then and just left it till now or early 2018, he would have been a millionaire in dollars today, but he didn’t. Do you know such massive return is still very possible? It’s possible through ico.
An initial coin offering or initial currency offering is a type of funding using cryptocurrencies. Mostly the process is done by crowdfunding but private ICO’s are becoming more common
ICO is one good way of getting Into cryptocurrency at the very cheapest price. When new cryptocurrency project starts, they start through this process. And over the years it has been proven that the best way or time to get into any project is by buying during the ico or start mining very very early, if the crypto is mineable.
Examples of cryptocurrency that gave good ROI through ico
As seen in the screenshot above, NXT has grown by over +441456% within the past 5 years and it’s ico price was around $0.0003. Meaning if you had invested just $100 by then (5 years ago) you’d have made over $400,000 without doing anything else except HODLING.
Iota has made an impressive growth of over +130,000% in 3 years. Meaning an investment of $100 into iota would have given an ROI of +130,000%.
Even the popular Ethereum that is used for building smart contracts has made ROI of over +74,000. And just for your information, about 90% all ico between 2016 and 2018 was done on Ethereum, reason why Ethereum grew to as high as $1400 late 2017/2018, Meaning $100 worth of Ethereum bought in 2014 would have been worth $466,000 by late 2017 / early 2018.
How to know which ICO to buy
- Check Its use case: Every crypto should have their own use case, no one just creates a coin for creation sake. if an ICO does not have a real life use case, it won’t yield good returns in the future. example is ethereum: it is used for building smart contracts, that is its use ,case. steem is a crypto used for rewarding content creator on the steem blockchain. So before buying an ICO, first check what the crypto project is for and how they intend to solve real life problems using blockchain technology.
- Check the team: This is actually a very important and vital part of a project. its very to easy for anyone to make sweet mouth about thier project, they can tell you their blockchain project can make the sun and the earth meet, they can tell you their project can make ship fly, but if the team behind the project is not expereinced enough, this will all be a dream. So make sure you team the team and how experienced they are in this field.
- Check its competitors: Eos and ethreum is a very good example, etherum was the fisrt platform for building dapps and making smart contracs, but its major problem is scalability, ethereum higest transaction pers second (TPS) so far is just 15 TPS, making unfit (until the sclability issue is fixed) for fixed. ethereum had enough market and dapps on it that were/ are doing well, as a matter of fact most crypto project on coinmarketcap were deployed on etheurem blockchain. EOS, cardano and NEO was was built to solve this problem of scalability.