Being a newbie, I'm looking for a good direction on learning about the markets and trading. How would you decide which ICO to invest in? Cryptocurrency is too volatile, but so there is still many people who go into investment that goes even in the newest coins which are similar (not same) in the functionality that they offer (e.g. anonymity). What is the possibility on any of these coins (or digital currency in general) being successful (or profitable)? I'm also not clear on how does the value of coin inflate or deflate; especially when the flow is controlled by the developers?
tl;dr Any resources or pointers on the topic are appreciated.
Here’s what the mastermind behind Ethereum and perhaps the most prominent figure in the crypto world Vitalik Buterin" has to say about Investing in an ICO.
"Cryptocurrency are still a new and hyper-volatile assets class, and could drop to near-zero at any time. Don't put in more money than you can afford to loss..."
Before you get carried away and start sending your hard earned money to every single project out there, remember that many, if not most of those projects will inevitably fail or will turn out to be a scam. take the pain to go through at least 5 successful ICO projects such as Wepower, Solve.Care, Truegame, Play2live and also 5 upcoming ICO projects such as Modern finance chain, Linkchain, adab solution, virtual rehab.
Not forgetting that every project launching an ICO must have website and whitepaper, find out everything you can about the development team, make sure they are not anonymous, Check Community and Media such as facebook, twitter and telegram. Check Stage of the project ( roadmap), Read the ANN thread on BitcoinTalk, read the whitepaper, If a project has no working code whatsoever prior to an ICO, or even if they do, but it isn’t open source - that’s a major red flag and many more to take note of before investing.
