Investing is a competitive game. At times, it seems that it is a race to get the best information about new opportunities before they disappear.

With traditional commodity investing, there are avenues such as Bloomberg or CNBC you can check, or there are government filings such as the SEC's online reports to get much-needed vetting information. However, there is a much shallower pool of information available for altcoin investors.

In altcoin investing, word of mouth is essential. For those investing in ICOs, that word of mouth often comes from Telegram. This article explains how to set up a new account on Telegram.

What is Telegram?

Telegram is emerging as the preferred messaging service for the altcoin world. Rumored to be offering its own ICO called "The Open Network," Telegram is a partially open-source application that has multiple levels of security and the capability of custom-made messaging applications and account-controlled bots.

Its adaptability and ability to be built into decentralized applications (Dapps) makes Telegram a preferred social media channel among ICO investors and developers. Telegram is free to use and does not charge for access to its SDK, giving developers ready access to the platform's framework. Serving more than 100 million active users and delivering more than 15 billion messages daily, the application is one of the most active in the ICO sphere.

Telegram is also popular because its channel permits businesses to send marketing messages via a permanent link with no limit on the contact list size. The feature allows real-time tracking of message viewing, permitting businesses to see how many customers are viewing the messages and allowing for fine-tuning.

There are many ICO groups and channels available on Telegram, which enables you to find almost anything you are looking for in the way of an ICO. ICO Insider provides this handy list of ICO groups and channels.

Step-by-Step Guide to Using Telegram for the First Time

Regardless of what version of Telegram you opt to use, you must sign up using a mobile app. Download the app from the iOS Store, Google Play, or the Microsoft Store and set up your account accordingly. The service requires a valid telephone number, your first and last name, and a photo.
You can now log in to your platform of choice. We will be using the web version for the rest of this tutorial.
Enter the telephone number you used when you signed up.

Input the verification number the service texted to you. You are now ready to chat.

Set up your username under "Settings." Usernames must have at least five characters and can include letters, numbers, and underscores. Usernames are not case-sensitive. You can also set up a passcode or two-step authentication.

Check out the FAQs for information on how to message and how to store and send media on Telegram.

What's Next

Once you have set up your Telegram account, you can use it to contact team members of a participating ICO or to communicate with others in the ICO space to get a feel for the general consensus regarding ICOs offered. Telegram serves as a useful tool for those looking to make ICO investments since it allows you to access that all-important word of mouth information on ICOs.

Want another useful tool for your ICO investment research? Click here for our complete list of Upcoming ICOs and read Bitcoin Market Journal to learn to invest like a pro!