10 Best ICO Crypto Tokens to Watch & Invest in May 2023
Initial coin offerings (ICOs) enable investors to buy quality cryptocurrencies before they are listed on an exchange. In turn, this enables investors to secure an early-bird discount on their ICO investment.
The top ICOs offer the chance to get into new and exciting projects ahead of the rest of the market, although they do come with increased risk over longer-established cryptos as they have no proven utility or market.
In this guide, we explore the 10 best crypto ICOs for May 2023.
The Top 10 Upcoming Cryptocurrency ICOs to Watch
Looking for a crypto ICO list? Before delving into our analysis of the best crypto ICOs, here’s a quick snippet of the 10 projects that we will be discussing:
- AiDoge – In our view, AiDoge is the best ICO token for 2023. More than $9 million has already been raised from early investors. Through artificial intelligence, AiDoge has created a text-based tool that can instantly create unique memes. Users need $AI tokens to access the AiDoge tool, giving AI real-world utility. Those investing in the AiDoge ICO will secure an early-bird discount.
- yPredict – The yPredict ICO is in full swing, with over $1.2 million already raised. This project provides real-time insights into the crypto trading markets through prediction models. These are created by quants and data scientists and backed by artificial intelligence and machine learning. The ecosystem token of this project is YPRED.
- Ecoterra – We found that Ecoterra, which has now raised $4 million, will appeal to environmentally conscious investors. In addition to a recycled raw materials marketplace and a carbon offsetting program, Ecoterra has also developed a recycle-to-earn mechanism. This rewards users with ECOTERRA tokens when recycling plastics, glass, and other consumables.
- DeeLance – The DeeLance ICO will appeal to investors that seek exposure to the gig economy. DeeLance has developed a decentralized platform for freelancers and clients. Compared to current industry leaders, DeeLance offers lower fees and faster settlement times and even a metaverse ecosystem. Those buying DLANCE tokens, which is heading for $1 million raised, today will secure an immediate upside of 50%, compared to the exchange listing price.
- Launchpad XYZ – This project is creating an ecosystem for Web3 investments. Some of its core features include fractionalized real estate, NFT mints, access to private ICOs, and market insights backed by artificial intelligence. To access the best Launchpad XYZ features, users need to stake LPX tokens, which have raised more than $500k. Based on its confirmed exchange listing price, the Launchpad XYZ ICO is currently offering a discounted price of 20%.
- CyberConnect – This new ICO is raising capital to revolutionize the social media industry. CyberConnect is building a decentralized social media platform that protects privacy and ensures users own the content they publish. The latter is achieved through NFTs on the Ethereum blockchain.
- SupraOracles – This innovative project specializes in oracles. Put simply, oracles connect blockchains and smart contracts with real-world data. This is a crucial concept for the development of the Web3 era. SupraOracles claims to be faster and more secure than other oracle protocols in this space.
- Tectum – Tectum claims to be the fastest blockchain globally, with verified outputs of over one million transactions per second. Moreover, Tectum transactions do not attract any fees. Tectum operates a layer 2 solution for Bitcoin. This will enable Bitcoin to operate in a more efficient and cost-effective way.
- Backstage – This new ICO crypto project bridges the gap between real-world events and blockchain technology. Whether it’s nightclubs, festivals, or sports matches – Backstage helps entertainment companies make the transition to Web3 technologies.
- Artyfact – Artyfact is building a decentralized gaming ecosystem that will support multiple genres and titles. All games will be accessible in the Artyfact metaverse and follow the play-and-earn concept. Artyfact claims that all its games will be AAA quality and enable players to earn crypto rewards and NFTs.
Reviewing The Best Initial Coin Offerings of This Year
Read on to discover our full analysis of the best crypto ICOs in 2023.
1. AiDoge – Overall Best ICO Crypto to Buy in 2023
We found that AiDoge is the best ICO token in the market right now. Having already raised over $9 million in just three weeks, this could be one of the fastest-growing ICO tokens in 2023. Investors are bullish on the project’s meme generation tool that enables users of all experience levels to instantly create viral memes.
Users simply need to provide text instructions to create their meme – for example: ‘Create a meme that shows the joy of finishing work early on Friday’. In seconds, AiDoge will create a unique meme alongside an image, which can then be shared across social media. What’s more, users can connect their meme creations to NFTs.
This proves ownership of the NFT, should it go viral. Memes can also go viral on the AiDoge public wall, where users can vote on their favorite memes, which are then displayed to the AiDoge community.
We should note that creating memes on AiDoge is not free, with users needing credits for each meme they generate and credits purchased on AiDoge with the native $AI tokens.
This is the ecosystem token backing the project, and it operates on the Ethereum blockchain. Crucially, as the number of people buying credits increases, so will demand for $AI tokens. This is one of the many reasons why AiDoge is the best new crypto ICO to consider.
Furthermore, the best memes created on AiDoge can earn rewards from the community, with other users upvoting their favorite creations and downvoting ones they dislike, with the best creations earning $AI tokens.
However, investors should also consider the risks. First and foremost, AiDoge operates in an oversaturated marketplace that contains over 24,000 tokens. As such, the project will need to maximize its marketing efforts to become mainstream. Second, AiDoge is founded by an anonymous team – although it is often the norm for the best meme coin projects to take this route.
At the time of writing, the current ICO price for AI tokens is $0.0000304. This will increase to $0.0000308 in the coming days and AiDoge has already confirmed its exchange listing price at $0.0000336. This offers a small upside for those looking to buy Aidoge today. The AiDoge ICO accepts ETH, USDT, BNB, and debit/credit cards.
2. yPredict – Crypto Trading Predictive Models Backed by Data Science and Quants
yPredict could also be one of the best crypto ICOs this year, as the project has built an ecosystem fueled by artificial intelligence and machine learning.
Its primary objective is to build a marketplace for predictive models. Experts from the fields of data science and quantitative analysis can create and sell models that help traders make informed decisions.
For example, some predictive models offer real-time insights into the markets. This includes market sentiment on specific cryptocurrencies and autonomous chart pattern recognition. Some prediction models can even generate trading signals. These alert users of an identified trading suggestion, including the entry and exit prices to deploy.
Either way, all prediction models must first be tested and vetted by the yPredict decentralized autonomous organization (DAO). This ensures that yPredict users only have access to legitimate prediction models that work. Once a prediction model is listed on yPredict, users can access them via a subscription model.
Payment is conducted in the project’s ecosystem token, YPRED. While the vast majority of subscription fees go to prediction model creators, 10% is distributed to the yPredict staking pool. This means that those staking YPRED will earn a share of prediction model sales.
While yPredict could be one of the best new cryptocurrencies to buy, ICO investors should first consider the risks. YPRED won’t be listed on exchanges until after the ICO, so it remains to be seen whether the markets will buy into the project. Moreover, yPredict will need to ensure it raises enough capital during the ICO – this will enable it to meet its ambitious roadmap targets.
That said, the yPredict ICO has already raised over $1.2 million, which suggests that its prediction model ecosystem is being well received by the crypto community.
A key benefit of investing in the ICO early is that YPRED is heavily discounted with its current and exchange listing prices are $0.07 and $0.12, respectively – that’s an upside of 70%.
3. Ecoterra – Recycle-to-Earn Ecosystem With Tokenized Rewards and Carbon Offsetting
Ecoterra is another one of the best ICOs to invest in that is attracting vast interest, with over $4 million raised so far.
This project is revolutionizing the way people recycle and achieves this through an incentivization system called recycle-to-earn – in a nutshell, users will receive tokenized rewards when depositing recyclables in reverse vending machines (RVMs).
Ecoterra RVMs will support a range of recycled products, such as glass, plastics, and clothes. Users will need to scan their recyclables via the ecoterra mobile app, with an AI-powered algorithm deciding the number of ECOTERRA tokens to reward the user with.
Ecoterra is one of the most popular cryptos to invest in as users then have several options having accumulated ECOTERRA tokens. For example, ECOTERRA will trade on exchanges after the ICO finishes, which will enable them to sell their rewards for other cryptocurrencies and then into cash.
Alternatively, ECOTERRA tokens can also be used to invest in environmentally-driven projects – this includes planting trees and supporting new renewable energy concepts.
ECOTERRA tokens can also be used by companies to purchase recycled raw materials in bulk. Powered by blockchain technology, the raw materials marketplace will source global suppliers in one transparent ecosystem and while other cryptocurrencies and fiat money is accepted, those buying recycled raw materials with ECOTERRA will secure a discount.
Ecoterra is also building an impact-tracking system that enables individuals and companies to share their green achievements, such as recycling or offsetting carbon footprints.
The Ecoterra ICO is currently offering ECOTERRA tokens at $0.00775, but the exchange listing price will be $0.01 – a 29% increase, making it one of the best crypto ICOs. Investors can use ETH, USDT, or a debit/credit card to purchase ECOTERRA.
4. DeeLance – Invest in the Decentralized Future of the Gig Economy
Deelance is a new ICO crypto creating a sea-change in the gig economy. Through blockchain technology, smart contracts, and its native DLANCE tokens – DeeLance will bring the freelancing industry into the Web3 era.
For example, DeeLance enables clients to source talented freelancers at just 2% of the contract value. We found that this is much cheaper than other freelancing sites, especially Upwork and Fiverr. Freelancers will pay 10% of the contract value on DeeLance, which is half of what Fiverr charges.
Another benefit for freelancers is that DeeLance offers instant payouts as funds are held in secure escrows – once the client marks the job as complete, the smart contract will transfer the DLANCE tokens immediately. There is no requirement for freelancers to pay withdrawal fees either.
We also like that DeeLance has a transparent dispute system, backed by the blockchain and ensuring that both freelancers and clients have a fair outcome.
DeeLance is also building a metaverse that will enable users to buy virtual office space, making it one of the best metaverse projects to invest in.
Freelancers and clients can connect in the metaverse, and office ownership is backed by NFTs. NFTs can also be used by freelancers to showcase their work and once work is submitted and approved by clients, ownership of the NFT will be transferred automatically.
DeeLance is also one of the best ICOs to invest in because DLANCE tokens can be bought at a discount. The current ICO price is just $0.033. This will increase to $0.057 once the ICO is over and DLANCE is listed on exchanges – a 72% increase.
ICO investors can use ETH or USDT to complete their purchase, while DeeLance also accepts debit/credit cards via a third-party processor.
5. Launchpad YXZ – Stake-to-Access Framework Supporting Web3 Assets
Next up on this list of the best initial coin offerings is Launchpad XYZ. This project describes itself as a ‘consumer-focused portal’ that provides access to the Web3 sectors. There are many products being developed by Launchpad XYZ, all of which offer exposure to Web3 assets. Some features are only available to those staking LPX tokens.
LPX is native to Launchpad XYZ and is currently being sold at a discount via its ICO, which has now raised more than $500k.
For example, those staking 25,000 LPX will have access to NFT mint whitelists which provides access to private round ICOs. This is the pre-public stage of an ICO that is typically only available to venture capitalists.
Those staking 25,000 LPX can invest $500 into each private ICO – by staking 50,000 LPX, this increases the allocation to $1,000, and so on. Those staking LPX will also receive discounted trading fees on the Launchpad XYZ decentralized exchange. This will enable traders to buy and sell cryptocurrencies and NFTs without a third party.
LPX is also required to access fractionalized real estate, as fees are paid in LPX. Crucially, LPX has many use cases within the Launchpad XYZ ecosystem.
That said, Launchpad XYZ’s objective of onboarding 10 million clients is very ambitious – if the project is able to achieve this goal, demand for LPX could be unprecedented.
The Launchpad XYZ ICO is ongoing and LPX is a top trending crypto coin, currently priced at $0.0445. The price increases incrementally until the ICO ends.
When it does, LPX will be listed on the Launchpad XYZ decentralized exchange at $0.0565, a 27% increase at the time of writing. After that, LPX will be listed on centralized exchanges.
6. CyberConnect – Bringing Decentralization and NFTs to Social Media
CyberConnect is another one of the best upcoming ICOs to watch. CyberConnect is revolutionizing the social media industry and through blockchain technology, it is creating a decentralized alternative to Facebook, Twitter, and Instagram.
Its ecosystem will enable developers to create social apps and tools that respect privacy. What’s more, social media profiles on CyberConnect are backed by NFTs on the Ethereum blockchain. Posted content, such as photos and images, are also backed by NFTs. This ensures ownership remains in the hands of the user.
Another feature of CyberConnect is encrypted messaging. This ensures that users can chat in complete privacy without fear of a Facebook-style data leak.
The CyberConnect ICO is about to start, with three million CYBER tokens being sold. This ERC-20 token is priced at $1.80 per CYBER. The ICO only accepts USDT.
7. SupraOracles – Fast, Scalable, and Secure Oracles for the Web3 Era
SupraOracles is an innovative project that specializes in oracles. In a nutshell, oracles connect blockchains with off-chain data from the real world. For example, consider a smart contract that pays out an insurance claim automatically if a flight is delayed by more than three hours.
SupraOracles provides this information autonomously by extracting data from trusted sources. This enables smart contracts to revolutionize every industry imaginably. For example, financial services, gaming, prediction markets, cybersecurity, retail payment, and much more.
SupraOracles also claims that its underlying protocol is faster and more secure than oracle providers. What’s more, SupraOracles will also support cross-chain functionality. This will enable two or more blockchains to collectively extract data from the real world.
The SupraOracles ICO is scheduled to begin in May 2023, visit the SupraOracles website to get the whitelist.
8. Tectum – Layer 2 Solution for Bitcoin With Over 1 Million Transactions per Second
Tectum has developed a layer-2 solution for the Bitcoin blockchain. Put simply this means that Bitcoin transactions can operate more efficiently.
For example, the original Bitcoin blockchain can only handle seven transactions per second – Tectum claims that its proprietary solution will handle over one million transactions per second.
Moreover, Tectum also is also revolutionizing Bitcoin fees with its SoftNote solution supporting fee-free transactions. That said, it is important to remember that Bitcoin is also supported by the Lightning Network. As such, Tectum will need to convince investors that its layer-2 solution is more efficient.
If it does, this could be one of the best ICO cryptocurrency projects to watch. The ICO is already underway, with 8% of the total token sold so far – Tectum has set a soft and hard cap of $2 million and $10 million respectively. Currently, Tectum tokens are priced at $3 each.
9. Backstage – Event Management and Ticket Sales via Web3 Technologies
Backstage is creating a sea-change in the entertainment industry through Web3 technologies. The project – which serves event organizers like nightclubs and football clubs, streamlines the end-to-end consumer experience.
For example, Backstage enables companies to offer NFT ticket experience, with each ticket backed and secure because of blockchain technology and a collectible in its own right.
Furthermore, Backstage will also enable event organizers to accept crypto payments – online and offline. In addition, all ticket sales and transactions will be posted to the blockchain, which will provide event organizers with a secure and efficient auditing process.
The use of blockchain and cryptocurrencies will also enable entertainment companies to reduce transaction fees. This is because tickets can be sold directly to consumers. The Backstage ICO is selling BKS tokens at $0.02 each. 19% of the total supply will be sold.
10. Artyfact – Decentralized Ecosystem for AAA Quality Play-and-Earn Games
Artyfact is our final pick for the best ICO tokens and is a project that’s developing a decentralized ecosystem for play-and-earn games. All supported games will be accessible via its metaverse world.
What’s more, Artyfact states that all titles will be of AAA quality – this will ensure that players remain engaged with games, rather than focusing exclusively on earning rewards. After all, many argue that play-to-earn games have proven to be unsustainable in the long run.
The in-game currency of this gaming ecosystem is ARTY. Users will earn ARTY when completing tasks and progressing through their chosen game, while users can also earn NFTs when exploring the Artyfact metaverse.
The Artyfact ICO is currently ongoing and has already raised $1.3 million, over half of its $2.4 million target. Currently, Artyfact is offering ARTY tokens at $0.30 each – the ICO will end on June 30, 2023, with tokens set for listing on LBank.
What is a Crypto ICO?
Put simply, a crypto ICO enables new blockchain startups to raise funds. Investors swap an established cryptocurrency, like Ethereum, for the project’s native token – after the crypto ICO, the tokens will trade on exchanges.
Initial coin offerings (ICOs) – also commonly referred to as presales – are a fundraising process run by new cryptocurrency projects. In simple terms, ICOs enable new projects to raise funds from investors.
The process is very similar to initial public offerings (IPOs) but instead of providing early investors with stocks, ICOs distribute their native cryptocurrency tokens.
The best crypto ICOs offer the benefit of a first-mover advantage before the tokens are listed on exchanges. And just like IPOs, ICO investors usually receive a discounted cost price to generate hype funds for the project’s future development.
This often enables investors to secure an immediate upside on their ICO investment as the ICO token will likely be listed at a higher price when it reaches the wider public.
One of the most notable ICOs of all time was run by Ethereum. In 2014, Ethereum sold ETH tokens at just $0.31 each. Investors in the Ethereum ICO have since witnessed life-changing returns, with ETH currently priced at more than $1,800.
Investors must remember that not all ICOs are successful and, in fact, most will never realize their roadmap objectives.
This makes ICO investing challenging, especially considering how many new cryptocurrencies enter the market each day. Research, due diligence, and diversification are so important.
How do Initial Coin Offerings Work?
The vast majority of initial coin offerings work in the same way.
- First, the new project will create its native token. This will usually be built on top of a legacy network like Ethereum or Binance Smart Chain.
- The crypto project will then offer its native tokens to early investors, usually at a discount. Investors will need to use an established cryptocurrency to invest in the ICO. This will vary depending on the project but is usually a choice between ETH, BNB and USDT.
- Once the investor has completed their purchase, they will receive their ICO tokens. This will either be when the investment is made or after the ICO finishes.
- Investors are then free to do what they wish – sell them on exchanges or hold for the long term.
Some of the best ICOs have ‘staged’ pricing. This means that after each batch is sold, the ICO price increases. For example, the yPredict ICO is currently offering $YPRED tokens at $0.07. But by the final round, this will have increased to $0.11 – an increase of 57%.
Nonetheless, after the ICO campaign is over, the crypto tokens will then be listed on exchanges. This enables those that missed the ICO to buy the token and also enables ICO investors to sell their tokens, should they wish to lock in an immediate upside.
Depending on how much hype the ICO creates, the exchange listing can be a monumental moment for the project. That is to say, if the ICO token witnesses huge buying pressure, it can go on to generate significant growth. But equally, some ICO tokens do the complete opposite. As such, consider the risks before investing in crypto ICOs.
How to Evaluate the Worth of an ICO Token
Evaluating the worth of the best ICO tokens should come from thorough research and general market sentiment – the top ICOs tend to have robust tokenomics, huge followings on social media, new and unique Web3 concepts and, in ideal cases, an experienced and transparent team.
As we discuss in more detail later, reading the project’s whitepaper, going through its social media pages to gauge sentiment and researching the website will give potential investors a solid overall understanding of how new ICOs may perform.
It is also important to understand that even if a project ticks all the boxes for potential success, it is not guaranteed but more of a marker to potential success.
Furthermore, as has been shown with the meme coin frenzy, speculative crypto investors often value rapid growth potential over fundamentals or long-term utility – some projects may take much longer to reach their potential than others.
Investors should be aware of their own appetite for risk and patience.
Why Invest in ICO Cryptos?
In this section, we explain some of the benefits of investing in crypto ICOs and how to decide what ICO to invest in.
Are ICOs Worth Investing?
In short, yes, the best upcoming ICOs are absolutely worth investing in, but they come with a much higher risk factor than longer-established cryptos as they have no proven utility or market for their services.
As mentioned above, it is crucial that investors are aware of their own patience, appetite and tolerance for risk and realize that even the best new ICO cryptos are not guaranteed to be successful.
Some projects generate huge hype in their ICO, explode in price then retrace and never pick up momentum again, while others take months and years to complete the targets on their roadmap – with the price of the tokens seeing volatility in between.
Investors can use different strategies for their top ICO list. In late 2022, for example, Tamadoge offered TAMA tokens for $0.01 in the first ICO stage and then listed them on exchanges for $0.03.
Those who sold immediately upon listing were able to all but guarantee 200% gains, turning $100 into $300, and minimizing their risk and exposure to a drop in price. However, by selling early those investors missed out on TAMA’s quick rise to $0.194 – a 1,900% gain.
Invest in Brand New Projects
One of the main attractions of ICOs is that they offer exposure to brand-new projects. In fact, the respective cryptocurrency token will not trade on public exchanges until after the ICO. This offers early-bird access, often to new and innovative concepts.
- This is similar to investing in stock IPOs.
- For example, those investing in the Tesla IPO in 2010 were taking a major bet that electronic vehicles would eventually take off.
- Back in 2010, the markets were still undecided on this concept.
- However, investors have since been handsomely rewarded, with Tesla stock up nearly 13,000% since its IPO.
This concept is much the same as crypto ICOs. For example, those buying ETH tokens during Ethereum’s 2014 ICO have since witnessed gains of over 1.6 million percent. But back then, nobody quite knew whether Ethereum would be successful.
Some of the best ICO tokens discussed today offer access to new concepts and technologies. For example, AiDoge is developing an AI-backed tool that can create memes from text prompts. Ecoterra is building a recycle-to-earn mechanism that will reward recyclers with crypto tokens. And yPredict is revolutionizing the crypto trading space through AI predictive models.
Discounted Entry Price
Some of the best ICO cryptos offer a discounted entry price. This means that the tokens will be listed on exchanges at a higher price than ICO investors paid.
For example, yPredict is currently selling YPRED tokens at $0.07 each. After the ICO, YPRED will be listed on exchanges at $0.12. This means that current ICO investors will see an upside of 70%.
Securing an ICO discount can also help amplify gains if the token takes off. For example, suppose that once listed, yPredict goes from $0.12 to $0.18. This represents gains of 50%. However, those that paid $0.07 during the ICO will have made over 120%.
Small Market Capitalization
Another benefit of ICOs is that they usually represent small-cap investments. This is because the project is brand-new, so it will have a low valuation.
For example, the AiDoge ICO has set a hard cap of $14.9 million. The ICO is selling 50% of the total supply. Therefore, if the hard cap is reached as expected, AiDoge will have a market capitalization of just $29.8 million.
In reality, this is a very small valuation and provides plenty of upside opportunities. Moreover, small-cap projects have limited liquidity. This means that increased buying pressure can result in rapid growth quickly.
How to Find the Top ICOs to Invest in
Let’s explore some popular ways on how to find the top ICOs in 2023.
Locate a Shortlist of Upcoming ICOs
The first step when considering how to buy ICO tokens is to create a shortlist of upcoming ICOs that are building innovative products or services. There are various online sources that help with this.
For example, platforms like ICODrops offer an initial coin offering list that is updated in real-time. Each listing will display information about the ICO, such as its hard cap target and dates.
Another source is CoinMarketCap, which lists some of the best upcoming ICOs. However, its top ICO list is limited compared to ICODrops and other sites.
Read the Whitepaper
Now that a shortlist has been created, the next step in how to find ICOs is, of course, to conduct comprehensive research. The easiest way to do this is to read the project’s whitepaper.
The best ICO tokens should contain clear and concise information related to:
- The overall objective, explaining what the crypto startup aims to achieve. This is often a solution to a real-world problem or an innovative product or service.
- The roadmap strategy, outlining its core objectives and when the project will achieve them.
- The tokenomics of the project, such as the number of tokens being created and how they will be distributed.
After reading the whitepaper, it’s worth exploring whether any similar concepts already exist. If it does, consider whether the ICO project does anything different. If it doesn’t, it is probably worth avoiding.
Evaluate the Token’s Utility
The next step is to evaluate the utility of the ICO token being sold. If the tokens offer real-world value to holders, this is a major green flag.
- $LPX, the native token of Launchpad XYZ, is required to access premium features. This includes discounted trading fees and access to private round ICOs.
- $DLANCE, the native token of DeeLance, is the ecosystem token enabling clients to pay freelancers.
- $AI, which backs the AiDoge project, enables users to create memes
Choosing ICOs with actual utility is crucial. After all, consider that the vast majority of the top 100 cryptocurrencies by market capitalization have some form of utility and use case, the notable exception being some meme coins.
Things to Consider When Investing in Crypto ICOs
Not all crypto ICOs are successful, so some consideration should be made before proceeding.
- Volatility: The crypto markets are ultra-volatile. This is especially the case with ICO cryptos. After all, new crypto tokens often have a small market capitalization, meaning low liquidity levels. As such, there is every chance that the value of the ICO token will decline after it is listed on an exchange. This will result in financial loss.
- Oversaturated: Crypto ICOs enable new startups to raise funds outside of the regulated securities market. This has resulted in the ICO market becoming oversaturated. As such, investors will have hundreds of ICOs to choose from at any time. This makes it difficult to know which ICOs to opt for.
- Diversification: A key benefit of oversaturation is that it makes diversification easier. For example, rather than investing $1,000 in a single ICO, consider investing in 10 projects at $100 each. Even if nine of the ICOs fail, just one successful investment can yield significant returns.
- Scams: Some crypto ICOs turn out to be scams. In this instance, the project has no plan to meet any of its roadmap targets. Instead, the ICO will raise as much money as it can before disappearing. It can be difficult to distinguish between legitimate and scam ICOs. As such, keep ICO investments modest and again, ensure that the portfolio is well-diversified.
How to Invest in an ICO
The ICO investment process is much the same across the board. For instance, most ICOs accept payment in established cryptocurrencies like ETH, USDT, and BNB or debit/credit card.
In return, ICO investors receive the project’s newly created tokens. There is often no requirement to open an account or even provide any personal information when investing in ICOs. Instead, investors simply connect their crypto wallet to the ICO website and transfer their preferred tokens as payment.
Here’s a real-world example of how to buy ICO tokens with the AiDoge ICO:
- Step 1: Get a Crypto Wallet: A crypto wallet is needed to invest in ICOs, as well as receive and store the purchased tokens. MetaMask is a popular option. It’s free to download and available as an iOS/Android app and a browser extension for Chrome, Edge, Firefox, and Brave.
- Step 2: Get Crypto to Pay for ICO Investment: Next, the investor will need to acquire a cryptocurrency that is accepted by the ICO. In the case of AiDoge, its ICO accepts Ethereum, USDT, and BNB. These cryptocurrencies can be purchased from most exchanges, often with fiat money.
- Step 3: Transfer Crypto to Wallet: The next step is to transfer the purchased crypto to the wallet. Copy the wallet address from MetaMask and transfer the tokens from the crypto exchange.
- Step 4: Set up ICO Order: Next, visit the AiDoge ICO website. The ICO order box is situated to the right of the homepage. Choose the payment cryptocurrency from ETH, USDT, or BNB. Then, type in the number of tokens to swap for AiDoge. Check everything is correct before clicking on ‘Buy Now’.
- Step 5: Connect Wallet and Buy ICO Tokens: A pop-up box will now appear. Choose the crypto wallet provider that is currently storing the tokens. For instance, Metamask. A notification will then appear in the wallet asking for confirmation of the AiDoge ICO purchase. After confirming, the tokens will be exchanged for AiDoge.
In most cases, including AiDoge, the purchased $AI tokens can be claimed after the ICO finishes. Simply head back to the AiDoge website after the ICO to claim the tokens.
Are Crypto ICOs Safe?
Not all crypto ICOs are created equal. By this, we mean that some ICOs are scams. Common scam include ‘rugpulls‘, when the ICO founders run away with investor funds, or ‘honeypots’ – where scammers send out smart contracts with hidden code that mean only they can access funds.
Moreover, the founders will often dump their own tokens once they are listed on exchanges – the result is ICO investors are left with worthless tokens.
- Hacking attempts are also an issue associated with ICOs.
- For example, bad actors will try to convince an investor to provide their wallet private keys.
- The scammer will then drain the crypto tokens stored in the wallet.
- This can also be achieved through phishing websites and keyloggers.
That said, the good news is that many crypto ICOs are legitimate. They are typically run by credible developers that want the project to succeed. And if it does, the value of the ICO token can increase significantly. But just remember that the opposite can happen too. Ultimately, after the ICO tokens are listed on exchanges, their value is determined by market forces.
In summary, ICO investments are increasingly becoming popular as ICOs enable investors to gain exposure to new projects from the ground up – not to mention secure a discounted price before the tokens are listed on exchanges.
One of the best ICO tokens available right now is AiDoge. Its ICO has already raised over $9 million in around three weeks, illustrating the popularity of its concept, with AiDoge building a meme-generation tool backed by the blockchain and powered by artificial intelligence.
At the time of writing, tokens are available for $0.0000308 with the price to rise to $0.0000336 in the final round.