What is ICO?
ICOs (Initial Coin Offerings) have become a popular way to fund cryptocurrency projects. An ICO is an event in which a new cryptocurrency project sells part of its cryptocurrency tokens to early adopters and enthusiasts in exchange for money today. ICOs provide a way for cryptocurrency project creators to raise money for their operations. Most ICOs raise money in Bitcoin or other cryptocurrencies.
Are ICOs like IPOs?ICOs have been compared to Initial Public Offerings (IPOs) of corporations. There are some notable similarities – both of them are used to sell a stake and raise money, and both have investors who see the potential and risk their capital in order to make a potential profit.However, there are significant differences as well. ICOs are mostly supported by early enthusiasts and not professional investors. In that respect, they are similar to ‘kickstarter campaigns’, but with the backers having a financial stake in the project.
Accounts needed to trade EOS ICO
Myetherwallet.com
Bitfinex.com
Twitter.com/EOS_io
Course I took
Cryptocurrency Investment Course 2017: Fund your Retirement
https://www.udemy.com/cryptocurrency/learn/v4/overview
How to do research
Icoalert.com
Eos.io
Coinmarketcap.com
My profit - $3714.00 or 248% in 7 Days
I invested 6 ether in EOS which is $1500 on June 26th
These are my transactions
10 EOS X $2.925 = $29.25
130 EOS X $4.5 = $585.00
1,000 EOS X $2.595 = 2595.00
349.99 EOS X $2.83 = 990.47
350 EOS X $2.90 = $1015
Total = $5214.00 (1840 EOS tokens)
I sold all the EOS token for total of $5214.00
Total Profit = $3714.00 in 7 days
My next investment - Bitquence ICO
Bitquence.com/tokensale
Follow Twitter.com/bitquence
Why did i invest in it?
1. For 1 ETH you get 5000 BQX token.
In USD its 1 ETH = $250
So 1 BQX or Bitquence coin = $ 0.05
2. This one was featured on a facebook group I am a member. It had 271 comments on the post not a single negative comment about the technology.
This is my theory about ICO.
https://icostats.com/
They are damn hot at the moment. People are pouring in money without much thought and almost every ICO has a huge returns.
But you never know a project is going to be successful in the long term.
So I will watch out for the ICO to hit the exchange and you know that by following their twitter and in this case my Facebook group.
My strategy
One important note : The money I invested in cryptocurrency is my pocket change in the sense I don't really care if I lose it. So I take a ton of risk.
ICO is a risk if you don't do proper research. But the returns are phenomenal. So I take these risks.
With Bitquence I will follow the same approach.
Step 1 - Look for the coin to hit the exchange.
Step 2 - Look for the order book, how the coin is moving. Is there lot of demand from investors.
I am not going to be super greedy, if I hit double then I will sell.
First I will recover the money I spend and then I will play with the house money just like I did for EOS.
Step 3 - If the coin hits my investment amount, sell it for that much amount.
Step 4 - Look for the peak. Usually coins move in the shape of M when its about to fall. It will rise, reach a peak then it will fall, then it will find some resistance and then peak again.
I sell it when the coin falls for the first time or the left slanting slope of M
Step 5 - Make a video of what I have done and get some fans and followers :)
Please follow
Please follow me on Steemit.com and upvote and comment.
Steemit is an amazing platform where you get paid to comment and like.
Yes thats right, you get paid for your activities on social media. I think its about time.
https://steemit.com/@booninfotech/
If you want to know the basics of ICO check out my friends channel. He has fantastic information.
https://www.youtube.com/channel/UCT5IB8qqnIolnkuUj8a1kEQ