Based on the statistics from ICObench, more than 150 ICOs have already been scheduled to launch in 2018. 150 is not a small number. Do you know how much money was raised by the ICOs in 2017? A whopping USD 4 billion which is almost 40 times greater than the figure in 2016. (USD 90 million).
So, there is no doubt that 2017 is a great year for ICOs because they have raised a lot of money through crowdfunding. Great! Now, the biggest question is “Does the ICOs have achieved any significant milestone after the token sale”? Are the token holders updated regularly about the status of the project? Sadly not. Based on the latest survey from news.Bitcoin.com, almost 40% of the ICOs have failed miserably resulting in a loss of USD 100 million to the investors. Many ICOs have closed their Facebook, Twitter accounts and their websites are not hosted anymore.
To avoid losing money, the investors should spend a lot of time to find out the authenticity of the company before participating in the token sale of any ICO. How to find out a good ICO? See the points below.
- Gather information about the key members of the ICO as well as the advisory board members. Just search their names on Google, LinkedIn or even Facebook to find out their background and work experience. Check if there are any popular persons in the team who have worked in reputed organizations in the past.
- Read the whitepaper of the ICO fully to understand the scope of the project. Find out why they want to issue a dedicated cryptocurrency token instead of the existing Bitcoin or Ethereum.
- From the whitepaper, find out how much of the tokens will be used for development, marketing, legal procedures etc. Linking the token distribution directly to the milestones implies that the ICO may not be a scam.
Don’t have time to check the points mentioned above still you are interested to participate in an ICO token sale? No worries. Just find out whether the ICO has a working product. If it has, then it is very likely that the ICO is a good one. Cool Cousin is one such ICO because the platform is already available for iOS and web.
What is Cool Cousin? It is a VC-backed travel company that was launched in the year 2016 to connect the travelers with the local people for sharing unlimited knowledge and information. The company has chosen blockchain technology because of its decentralized nature and low transaction fees. From the app, travelers can choose the tourist destination they wish to travel and directly communicate with the local people called “cousins” on that destination. They can easily connect with the cousins using the secure messenger available on the Cool Cousin platform. Check out https://www.coolcousin.com/ico/coolcousin-whitepaper.pdf to learn more information about the Cool Cousin platform.
How to access the services of the cousin? How will they get paid? For that, a traveler needs to hold CUZ tokens which is a special utility token based on Ethereum ERC20. It will be used as the payment option in the Cool Cousin platform. Kindly visit the: Website, ANN & Bounty Threads and join the Telegram group to know more information about the CUZ tokens and its benefits.