Perform market studies for the initial selection of parts (ICO -K): Guide
The cryptocurrency world has experienced exponential growth in recent years, with new projects and tokens daily. Since investors and fans are enthusiastic about the next great thing, it is essential to do a in -depth market study to make decisions based on investment in ICOs. In this article, we cover the basic steps necessary to carry out market studies on Ick.
What is the initial power supply (ICO)?
The initial range of parts (ICO) is a community financing model used by the Start -ups blockchain to collect funds for their development and marketing efforts. Unlike traditional initial public offers (IPTRA on the stock market), ICK operates on a decentralized platform, allowing several parties to participate in the fundraising without mediators.
Why is ICK doing market studies?
Before investing in an ICO, it is essential to conduct an in -depth market study to make a well -founded decision. Here are some reasons why:
- Understand the project : Look for the project development group, the mission and the objectives to determine how they are adapted to the investment objectives.
- Tokenomics value: Analyze the offer, distribution and potential uses of the token to assess its viability as cryptocurrency.
- Evaluate market demand : Identify the ICO target audience and assess the level of interest in the project.
- Research competition : Compare ICO to the same blockchain or cryptocurrency projects to identify the gaps and market opportunities.
Step by step to do the eco market research
- Define investment objectives : clearly determine what you want to achieve via an ICO, such as financing a project or investment in a particular asset.
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* Social media analysis
: Listen to Twitter, Reddit and other social media platforms on the project.
* Blockchain Analytical Tools : Use services such as CoinmarketCap, Coingacko or Cryptoslate to analyze data and market trends.
* Sources of financial information : Research for renowned financial newsletters such as Coindesk or Coindesk.
- Look for the development group : Find the transparency and the results of similar projects. Check that you have a relevant experience in Blockchain technology.
- Evaluate tokenomics : Analyze the offer, distribution and potential uses of the project to determine its viability as cryptocurrency.
- Dession of market value : Identify the Target ICO public and assess the level of interest in the project.
- Research competition : Compare ICO with existing projects on the same blockchain or the same cryptocurrencies to identify the deficiencies and opportunities on the market.
Tools for doing market studies
- Coinmarketcap : a main cryptocurrency data platform which provides a complete market analysis, diagrams and news.
- Cryptoslate : news gate from the cryptocurrency, which summarizes articles from renowned sources, including financial media.
- Reddit : Use alhdes like R / Coinmarketwatch or R / Crypto-Monnaie to discover project discussions and market trends.
- Twitter : Follow the development teams, industrial chiefs and influencers to assess interest and emotions around ICO.
Conclusion
In -depth market studies are essential before investing in a first range of parts (ICO). By following these steps and using assets such as above, you can make good decisions about investments and minimize the risk. Do not forget to do your own research and never invest more than you can afford.