This is a part of my blog for my journey from £300 to £60000 through cryptocurrency investments. For an introduction take a look here
So in my second post I would like to talk about my picks for my first investment. Because of the volatility of the market at the moment, caused by all the China rumors, I haven’t decided yet how I am going to split my initial £300. I might go for one ICO, I might split in two or even three. Here are my top picks in order of priority:
There are a lot of reasons to pick this but my main ones are that they have a product out there already, they have a very strong team, they have a low hard cap around $15 million dollars, they have a whitelist and they will try to distribute to a lot of people in their community. Moreover, they have some good numbers in their slack channel 3800 people at the time of writing and good reviews from different sources.
The main problem with this though is that although it was planned to start on 10 September it has been postponed cause the team is waiting to see what the Chinese government will announce in terms of ICOs and cryptocurrencies. So it might not happen anytime soon.
This is another strong ICO happening on 12 September. The reasons for the picking this are the same with Red Pulse token. A working product, very strong team and advisory board, a low hard cap of 15 million and a desire to allocate coins to as many people of the community as possible. One other reason that I like this one is that it is a product that I would like to use. I downloaded the Cindicator app and although a lot of features are missing it looks very promising. At the time of writing their Telegram group had almost 3000 people.
One problem I have with this one is that they have a very thorough process to whitelist people and I don’t know yet if I will get in.
I am not as sure about this one as my two options above but it looks quite promising. It has a good team and the features they are looking to develop look quite promising. There is a strong interest in hybrid technology and the two other projects that are similar Iconomi and Melonport attracted a lot of attention. Actually, the value of their token increased to more than 10x from the ICO price. The hard cap of all the funds raised will be 30 million which is not low but I believe it is good enough for a project like that. At the time of writing, they had more than 2400 people in their telegram group.
The things I dislike about this is that it is going to be an open sale since I missed the presale and that only 50% of the whole amount of tokens will be sold during the ICO. This means that there will be some inflation down the road.
So these are my picks for my first investment. I will keep you updated regarding what I bought at the end and how much of my initial budget I allocated. What do you think about my picks? I would love to hear your opinion.
Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
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