ICOs are the best way to invest in brand-new cryptocurrencies before they explode. Ethereum, Filecoin, Chainlink, and many other billion-dollar cryptocurrencies raised funds via ICO campaigns, so this niche can be very lucrative. 

This guide introduces 12 upcoming ICOs that meet our strict investing criteria. Each comes with a solid upside potential and offers the ability to invest from the ground up.  

Upcoming ICOs That Shouldn’t Be Missed in 2024

We’ve compiled a list of the top upcoming ICOs that investors should check out while prices are still low: 

  1. Sponge V2 (SPONGEV2) – The next iteration of the $SPONGE token, which reached a $100 million market cap, promises to make earning more lucrative. By staking your $SPONGE tokens, you’ll receive $SPONGEV2 and could possibly earn up to 4,000% annually.
  2. Bitcoin Minetrix (BTCMTX): Having raised over $4.4 million, this could be one of the most successful ICOs of the last 12 months. Bitcoin Minetrix allows consumers to mine Bitcoin without needing to own hardware or have any technical expertise. The only requirement is to stake its native token, BTCMTX. This stake-to-mine model makes Bitcoin mining affordable for everyone, so the long-term potential could be huge.   
  3. Meme Kombat (MK): An innovative battle-style game built on the blockchain, Meme Kombat is bringing the world’s most popular meme characters to its stake-to-bet platform. Put simply, players stake MK tokens and then place bets on which meme they think will win the battle. Gaming outcomes are generated by smart contracts and AI. Meme Kombat’s ICO campaign has just surpassed $2 million. 
  4. Launchpad XYZ (LPX): Launchpad XYZ simplifies the Web 3.0 industry for novice traders. It offers data-driven insights via signals and AI technology, helping newbies find the next cryptocurrencies to blow up. It has developed an LPQ scoring system from over 400 data points. This ranks cryptocurrencies from 1 to 100 based on their future potential. Launchpad XYZ has raised over $2 million from ICO investors so far. 
  5. EDriveToken (EDT): Bridging the gap between electric vehicles and the blockchain world, EDriveToken allows anyone to become a charging node. Through the EDriveToken app, EV drivers will benefit from more affordable and accessible EV charges and will receive discounts when paying with EDT tokens. EDriveToken will also tokenize classic and supercars via NFTs. The EDriveToken ICO begins on November 30th, with 10% of the total supply being sold.
  6. Bitago (XBIT): Has developed an iOS and Android app that allows users to shop online. More than 1,000 stores are supported, each offering competitive cashback rewards. Bitago has also developed a debit card, allowing users to spend their cashback online or in-store. Bitago’s native token, XBIT, will be sold in the upcoming ICO at $0.10. 38 million of the 200 million supply will be available to ICO investors.
  7. 5ire (5IRE): Top-rated project building a layer-1 blockchain with smart contract compatibility. Sustainability is the main focus, with 5ire’s network complying with the United Nations’ Sustainable Development Goals. Some of the key target markets include government agencies, universities, and social entrepreneurs. The 5ire ICO will be held across multiple stages, each with varying price points. Updates will be given on the 5ire Twitter page.
  8. SolakGPT (SGPT): This new project is building a native web browser for the Web 3.0 era. It comes packed with features, including AI-backed security tools and browse-to-earn rewards. SolakGPT will also connect to decentralized finance platforms, allowing users to trade and earn securely. The upcoming ICO will see 22.5% of the total supply, with each SGPT token costing $0.007.
  9. Health Hero (HLTHY): Harmonizing the health and wellbeing space in the corporate world, Health Hero offers personalized plans for employees. It has built an AI-backed tool that offers medical advice and is connected to a network of health practitioners, doctors, and therapists. Prices start from $4 per month for every 1,000 employees, illustrating that Health Hero is targeting large enterprises. The upcoming crypto ICO will sell 10% of the HLTHY token supply.
  10. Manilla Finance (MNLA): Newly launched FinTech platform that streamlines day-to-day bill payments for the developing world. Users can settle electricity, water, and internet bills in MNLA tokens, which are native to the project. Manilla Finance also offers savings accounts and loans without third-party intermediaries. The Manilla Finance ICO has raised over $517,000 so far, but there are under 2 days left.
  11. Earn Network (EARN): Up-and-coming decentralized finance platform specializing in high-yield staking pools. Multiple blockchain networks are supported, including Ethereum and the Binance Smart Chain. Earn Network also offers decentralized lending pools, which require collateral from borrowers. EARN, the ecosystem’s proprietary token, will be sold to ICO investors at just 0.0025 each. 27% of the total supply will be made available during the ICO campaign.
  12. Work X (WORK): Creating a sea-change in the employment industry, Work X is leveraging AI and blockchain technology to streamline job postings. The AI tool helps companies find their ideal candidates, based on the role requirements. Employees can upload their work history, qualifications, and skill sets – which are securely tokenized on the blockchain. The Work X ICO is now live and will end on December 3, 2023. WORK tokens are being sold for $0.20 each.

The Best Upcoming Crypto ICOs Analyzed in Full 

Let’s take a much closer look at the upcoming ICO list above; we’ll now review the 12 projects in full.   

1. Sponge V2 (SPONGEV2): Top ICO Boasting up to 4,000% Annual Yields

$SPONGE saw a significant rise in summer 2023, reaching a $100 million market cap within months of launch.

Following a decrease in its value, the launch of $SPONGEV2 is designed to reinvigorate the community.

SpongeV2 home

The shift to $SPONGEV2 tokens is facilitated through a stake-to-bridge mechanism, requiring original $SPONGE token holders to withdraw their stakes before the existing pool shuts. Afterwards, these tokens can be staked in the new V2 smart contracts, yielding $SPONGEV2 as a bonus.

It’s crucial to understand that staking $SPONGE in the V2 contract is a final decision, resulting in permanently having $SPONGEV2 staked.

This choice, however, offers the potential for high Annual Percentage Yields (APYs) over the forthcoming four years. Currently, there are over 400 million tokens secured in the V2 contract, with the potential of up to 4,000% in annual yields.

SpongeV2 tokenomics

Further enhancing its allure, Sponge’s forthcoming play-to-earn racing game, outlined in the whitepaper, is set for release post the launch of the V2 tokens. This game presents an additional avenue for token holders to earn $SPONGE tokens through online gaming competitions.

Head over to Sponge on XTelegram, and Discord for recent news on the V2 rollout and insights into the token’s staking benefits.

Hard Cap N/A
Total Tokens 150 Billion
Tokens available in presale N/A
Blockchain Ethereum Network
Token type ERC-20
Minimum Purchase None
Purchase with USDT, ETH, Card

2. Bitcoin Minetrix (BTCMTX): Buy and Stake BTCMTX via a Self-Custody Wallet and Earn Bitcoin Mining Power (Over $4.4 Raised)

Bitcoin Minetrix is a solid long-term project that solves many issues facing the Bitcoin mining scene. It allows investors to passively earn credits after staking BTCMTX tokens. Credits can be exchanged for Bitcoin mining power, meaning there’s no longer a need to purchase ASICs. This makes Bitcoin mining more affordable and accessible to the masses. 

The amount of Bitcoin mining power available depends on how many credits you earn. Put simply, the longer you stake BTCMTX, the more credits you’ll accumulate. This incentivizes holders to keep their tokens locked, allowing BTCMTX to organically increase in value. Another reason we like Bitcoin Minetrix is its decentralized mining framework. 

Bitcoin Minetrix presaleThis means that Bitcoin can be mined without needing to trust centralized cloud mining platforms; many have turned out to be a scam in recent years. What’s more, users can withdraw their mining rewards at any time – there are no long contract durations to worry about. The Bitcoin Minetrix ICO is already in full swing. 

More than $4.4 million in ICO funding has been secured. The ICO price increases in value every couple of days, or when the current batch sells out. Today, tokens are available at $0.0118. This is the lowest price point that you’ll get before BTCMTX lists on crypto exchanges. The Bitcoin Minetrix ICO accepts BNB, Polygon, Ethereum, Tether, and debit/credit cards (KYC required). 

  
Total Tokens 4 Billion
Tokens Available in ICO 2.8 Billion
Blockchain Ethereum Network
Token Type ERC-20
Minimum Purchase No Minimum
Purchase With USDT, ETH, BNB, MATIC, Credit Card (KYC Required)

3. Meme Kombat (MK): Stake-to-Bet GameFi Project With Blockchain-Powered Meme Battles 

Meme Kombat will appeal to GameFi investors, which was one of the best-performing niches in the prior bull market. At its core, Meme Kombat is a battle-style game competed by two meme characters. Each character represents one of the best meme coins from the crypto space, such as FLOKI, Shiba, and SpongeBob.

Battle outcomes are determined by the blockchain, alongside Ethereum-backed smart contracts. Meme Kombat has also incorporated artificial intelligence into its gaming protocol. According to its whitepaper, this is to ensure each meme battle is unique from the next. Now for the fun part; Meme Kombat allows players to wager MK tokens on each battle. 

Meme Kombat presale

Odds are automatically calculated by smart contracts based on which meme characters will be competing. What’s more, players will even be able to place bets while battles are in-play. Odds will update based on how the respective battle is unfolding in real-time. Crucially, players need to stake MK tokens before they can place bets.    

This favors long-term holders, as it keeps the MK token supply stable. This is in addition to huge staking APYs that are currently paying 419%. The Meme Kombat ICO has just surpassed $2 million in funding. 50% of the total supply – or 60 million MK tokens, will be sold. New ICO investors are currently paying just $0.214 per MK, although this price will increase in the next 3 days.  

Total Tokens 120 Million
Tokens Available in ICO 60 Million
Blockchain Ethereum Network
Token type ERC-20
Minimum Purchase $5
Purchase With USDT, ETH, BNB

4. Launchpad XYZ (LPX): Simplifying Digital Assets and Web 3.0 Investments in One User-Friendly Place   

Next up is Launchpad XYZ, which is simplifying the Web 3.0 industry for the average investor. There are two core divisions being built by Launchpad XYZ. The first is information-based. The aim is to help investors find the next big cryptocurrency through data-driven insights. For instance, it has created a ‘Launchpad Quotient.’ 

This extracts real-time information from over 400 data points, such as market prices, social sentiment, and Twitter engagement. It then scores each cryptocurrency with an LPQ score. The closer the LPQ score is to 100, the more investable the respective cryptocurrency becomes. Other data insights include trading signals, AI-backed chat rooms, and educational tools. 

Launchpad XYZ presale

The second Launchpad XYZ division helps investors complete their Web 3.0 investments. It will be launching a fractional asset platform that supports tokenized real estate and fine art. It will also provide priority access to new NFT launches and play-to-earn gaming tokens. Launchpad XYZ is also developing a decentralized exchange (DEX).

The DEX is where users can buy, sell, and trade Web 3.0 products. Trading fees can be settled in LPX tokens for a discount. LPX can be staked too, which offers access to premium Web 3.0 investments. More than $2 million worth of LPX tokens have already been sold at ICO prices. There is still time to secure an ICO discount before prices increase again. 

Total Tokens 1 Billion
Tokens Available in ICO 250 Million
Blockchain Ethereum Network
Token type ERC-20
Minimum Purchase 100 LPX
Purchase With USDT, ETH, BNB, Credit Card (KYC Required)

5. EDriveToken (EDT): Integrating EVs and Charging Stations With NFTs and Crypto Payments 

EDriveToken is leveraging cryptocurrencies and blockchain technology to revolutionize the electric vehicle (EV) landscape. One of its features is the EDriveToken app, which allows anyone to become a charging node. This will help make EV charging stations more accessible and affordable.

Moreover, when paying EV charging fees in EDT tokens, discounts will be offered. Another feature is the tokenization of super and classic cars. This will allow drivers to rent and resell their vehicles via the blockchain. Vehicles will be backed by the unique NFT, which operates on the Binance Smart Chain.

EDriveToken ICO

EDriveToken has developed a 2% fee on all EDT transactions. Some of the proceeds will be used to buy WBNB tokens, and then distributed to existing EDT holders. The balance will be burned, removing the EDT tokens from the circulating supply. The EDriveToken ICO goes live on November 30th. 10% of the total EDT supply will be sold at $0.0011 each.

Total Tokens 20 Billion
Tokens Available in ICO 2 Billion
Blockchain Binance Smart Chain
Token type BEP-20
Minimum Purchase Not Stated
Purchase With USDT (BEP-20), USDC (Polygon)

6. Bitago (XBIT): Earn Crypto Cashback by Shopping at Over 1,000 Online Stores

Bitago has developed a native app for iOS and Android that enables shoppers to earn cashback. Here’s how it works; Through the Bitago app, users can browse from over 1,000 stores. Once they find a suitable product, they can complete their purchase as normal. Once the transaction is confirmed, the user will receive cashback in XBIT tokens, which is native to Bitago.

What’s more, Bitago is launching a prepaid debit card, allowing users to spend XBIT tokens in the real world. It can also be linked to Apple or Google Pay for added convenience. In addition, Bitago will also be launching a staking program with competitive APYs.

Bitago ICO

The Bitago app will also offer personalized shopping services, advertising opportunities, and a point-of-sale terminal. The XBIT ICO has just begun. The total XBIT supply is 200 million and 19% will be sold to ICO investors. Each XBIT token – which follows the ERC-20 standard, is selling for $0.10. Only USDT will be accepted.

Total Tokens 200 Million
Tokens Available in ICO 38 Million
Blockchain Ethereum
Token type ERC-20
Minimum Purchase Not Stated
Purchase With USDT

7. 5ire (5IRE): New Layer-1 Blockchain Being Developed for a Sustainable Future 

5ire is developing a proprietary layer-1 blockchain with smart contract compatibility. It has a strong focus on sustainability, aligning its network with the United Nations’ Sustainable Development Goals (SDGs). 5ire has developed the BuildToEarn program to attract dAppp developers to its network.

The top 10 dApps will receive tokenized rewards, payable in 5IRE. Early dApp adopters will also be incentivized with reduced gas fees. According to 5ire, some of its target markets include universities, government agencies, social entrepreneurs, and Fortune 500 companies.

5ire upcoming ICO

It has developed a solid framework for compliance, ensuring the project can grow without regulatory hurdles. In terms of its upcoming ICO, 5ire is selling 19.6% or 294 million 5IRE tokens. There will be various ICO rounds, each with varying prices. The best way to stay updated is via the 5ire Twitter page.

Total Tokens 1.5 Billion
Tokens Available in ICO 294 Million
Blockchain Ethereum
Token type ERC-20
Minimum Purchase Not Stated
Purchase With Not Stated

8. SolakGPT (SGPT): AI-Backed Web 3.0 Browser With Tokenized Rewards and DeFi Integration  

SolakGPT is developing a decentralized ecosystem that combines AI with decentralized finance (DeFi). Various features are being built, including a proprietary web browser that connects to Web 3.0 platforms. This will come with a browse-to-earn protocol, enabling users to earn SGPT tokens when browsing the Internet.

There will also be AI-backed security tools that protect users from hacks. This is especially important when buying and selling cryptocurrencies on DeFi exchanges. The SolakGPT browser will also have an auto-block feature. This will remove ads automatically, ensuring a smooth browsing experience.

SolakGPT ICO

The total SGPT supply is 1 billion tokens. Following the BEP-20 standard, 22.5% of the SGPT supply will be sold to ICO investors. The ICO price has been set at $0.007 per token. The ICO starting date is still to be announced, so keep an eye on SolakGPT socials for real-time updates.

Total Tokens 1 Billion
Tokens Available in ICO 225 Million
Blockchain Binance Smart Chain
Token type BEP-20
Minimum Purchase Not Stated
Purchase With USDT (BEP-20)

9. Health Hero (HLTHY): Harmonizing Health and Wellbeing in the Corporate World  

Health Hero is one of the best upcoming ICOs for exposure to the health and wellbeing niche. More specially, Health Hero is bringing its health-centric services to the corporate world. It has developed an AI-backed protocol that provides office workers with instant medical advice.

It is building a network of doctors, therapists, and other practitioners, allowing corporations to build enterprise health plans for their employees. It has also developed tools to help report corporate social responsibility through live data visualization. What’s more, Health Hero is a self-sufficient project with monthly subscription plans.

Health Hero ICO

It charges $4 per month for every 1,000 employees, and additional services are priced depending on the needs of the client. Its native ecosystem token, HLTHY, will be sold at $0.04 when the upcoming ICO begins. 10% of the total supply will be sold to ICO investors. HLTHY operates on the Binance Smart Chain for increased efficiency.

Total Tokens 888,888,888
Tokens Available in ICO 88,888,888
Blockchain Binance Smart Chain
Token type BEP-20
Minimum Purchase Not Stated
Purchase With USDT (BEP-20)

10. Manilla Finance (MNLA): Fintech Payment Solutions for the Developing World  

Manilla Finance has built a decentralized ecosystem that bridges Web 3.0 payments with the developing world. Its native ecosystem token, MNLA, can be used to settle day-to-day bills. This includes water and electricity bills, not to mention phone credit top-ups.

Manilla Finance also offers decentralized finance services, allowing users to save and borrow funds without going through intermediaries. The user interface is simple to navigate, ensuring Manilla Finance is suitable for all skill sets. The platform complies with relevant anti-money laundering regulations, as all users go through a KYC process when registering.

Manilla Finance ICO

The Manilla Finance ICO is now live, with over $517,000 raised so far. There are less than 48 hours left until the ICO ends. Right now, ICO investors are paying $0.015 per MNLA token. Accepted cryptocurrencies include BUSD, USDT, and TUSD – all on the BEp-20 standard. There is no minimum investment requirement.

Total Tokens 1 Billion
Tokens Available in ICO 205 Million
Blockchain Binance Smart Chain
Token type BEP-20
Minimum Purchase No Minimum
Purchase With BUSD, USDT, and TUSD (BEP-20)

11. Earn Network (EARN): Community-Driven Staking and Lending Platform With Competitive APYs

Earn Network is another top-rated ICO from the decentralized finance niche. It has developed a user-friendly dashboard that enables users to stake cryptocurrencies at competitive APYs. No prior experience is needed; simply select a cryptocurrency and deposit the funds by connecting a wallet.

Earn Network supports multiple blockchain networks, including Ethereum, Avalanche, and the Binance Smart Chain. Some of the best APYs available right now include Dogecoin and XRP, currently yielding 18.1% and 13.75% respectively. However, these yields are based on the BEP-20 versions of these popular altcoins.

Earn Network crypto ICO

In addition, Earn Network also supports decentralized lending services. Users can borrow funds by depositing collateral. We also like the ‘Flash Pools’ available on Earn Network. These are short-term lending pools with fixed time limits and high APYs. The upcoming ICO is selling EARN tokens at $0.0025 each. EARN is an ERC-20 token and the total supply is 100 billion.

Total Tokens 10 Billion
Tokens Available in ICO 2.7 Billion
Blockchain Ethereum
Token type ERC-20
Minimum Purchase Not Stated
Purchase With Not Stated

12. Work X (WORK): AI-Backed Job Posting Platform Matching Human Capital With Clients

Describing itself as the “Internet of Jobs”, Work X is revolutionizing the employment industry. It leverages AI to find the most suitable workers for employers, based on prior experience, qualifications, and other key metrics. Conversely, its AI protocol also helps job-seekers find relevant postings that align with their goals.

Work X offers a peer-to-peer platform that enables direct collaboration between employees and employers. Based on the blockchain, users have full control of their personal data. What’s more, users can upload degrees, diplomas, and other qualifications, which are then tokenized.

Work X crypto ICO

Not only is Work X targeting the freelancing space but offline careers too. Work X has also developed a generative AI chat box, allowing companies to find suitable skill sets based on the job requirement. The project’s ecosystem token, WORK, will be sold at $0.20 to ICO investors. The ICO is now live and will commence on December 3, 2023.

Total Tokens 100 Million
Tokens Available in ICO Not Stated
Blockchain Binance Smart Chain
Token type BEP-20
Minimum Purchase Not Stated
Purchase With Not Stated

The Basics of Initial Coin Offerings

Initial coin offerings, more commonly referred to as ICOs, are the most popular way to invest in new cryptocurrency projects. Before the cryptocurrency launches on public exchanges, tokens will be sold to ICO investors. This means that investors can purchase the tokens at the best price possible. 

Bitcoin ETF Token ICO

ICOs usually come with a soft and hard cap target. This is the minimum and maximum amount the ICO aims to raise. Investments typically need to be made with cryptocurrencies, such as Tether or BNB. After the ICO finishes, investors receive their tokens. In most cases, the tokens will then be listed on exchanges – often at a higher price.

ICO Snapshot

The main appeal of ICOs is that you’ll be investing in a cryptocurrency project from the ground up. Some of the most successful ICOs of all time include Ethereum, Filecoin, EOS, and Chainlink. That said, thousands of ICOs have been launched in recent years. Some have gone on to secure huge growth, while others have failed.

How Do ICO Launches Work?

ICO launches will usually follow a systematic process. 

Here’s an overview of how traders invest in ICOs:

  • First, most upcoming ICOs will be launched on the project’s website. This means traders can invest directly, without needing to use a third-party exchange.
  • Investors will need to connect a private wallet to the ICO website. Most wallets will be supported, such as Trust Wallet, MetaMask, and Exodus.
  • ICO campaigns collect investment funds in established cryptocurrencies. This will often include Tether, Ethereum, and BNB. You’ll need an accepted cryptocurrency in the wallet you connect to the ICO website.
  • You’ll then need to state how many ICO tokens you want to buy. For example, suppose each token is priced at $1 and you have $1,000 worth of Ethereum to invest. In this regard, you’d be buying 1,000 tokens.
  • The final step is to confirm the ICO investment via your connected wallet. This ensures that only the wallet owner can authorize the payment. The cryptocurrencies will then be transferred to the ICO project.

Some ICOs will release your tokens instantly, meaning they’ll be transferred to your connected wallet. For instance, those investing in the Meme Kombat ICO will receive their MK tokens straight away.

They can then deposit MK tokens into the staking pool to earn APYs of 419%. In other cases, the project will complete the token transfer after the ICO has finished.

Meme Kombat ICO

Either way, the ICO project will usually list its tokens on a crypto exchange after the fundraising campaign is over. This enables the general public to buy and sell the tokens, which will determine their market value.

Advantages of Investing Upcoming Initial Coin Offerings

Here are some of the main advantages of investing in upcoming ICOs:

  • First-Mover Advantage: Imagine buying Ethereum – now worth over $2,000, at just $0.31. This is the price that ICO investors paid for Ethereum in 2014, meaning they’ve made life-changing returns. Similarly, Chainlink was worth just $0.18 after its ICO launch; it has since increased by almost 9,000%. Crucially, ICOs allow you to invest in quality cryptocurrencies before they’re launched to the public, so you’ll secure a first-mover advantage.
  • Invest in Micro-Cap Tokens: ICOs are the very first step for newly founded cryptocurrencies. Many ICO projects are still a ‘concept’ rather than a working product, meaning they carry little value. This can be beneficial once the project achieves its roadmap targets. Investors react positively to project developments, helping the token increase its price. As an ICO investor, you would have secured a micro-cap valuation, allowing you to target a huge upside.
  • Preferential Pricing: New crypto ICOs understand the risks involved, which is why they offer investors a discounted price. This means you’ll pay a lower token price than the general public. What’s more, you can often secure an immediate upside, as some ICOs increase the price incrementally.
  • Exceptional Risk-Reward Ratio: Although ICOs are risky, they offer a solid risk-reward ratio. You don’t need to invest large amounts to make significant gains. For instance, the Tezos ICO – which raised over $230 million, was priced at $0.47. In October 2021, Tezos hit an all-time high of $9.18. That’s a gain of over 1,800% for ICO investors. And then there’s Cardano, which sold ADA at just $0.0024 during its ICO. ADA has since hit highs of $3.10, meaning gains of over 129,000%. Therefore, if you invested $100 in the Cardano ICO, it would have been worth over $129,000 at its peak.
  • Diversification is Possible: Finding the next Ethereum, Chainlink, Tezos, or Cardano is no easy feat. After all, new ICOs enter the market regularly. That said, this makes it simple to create a diversified ICO portfolio. Suppose you have $1,000 to invest. You could split your $1,000 investment over 10 ICO projects at $100 each. Should just one ICO blow up, you could make huge gains – even if the other 9 fail.

Choosing the Top ICO Projects for Your Portfolio

There are many upcoming ICOs to invest in. You’ll want to focus on quality projects that have a solid use case and long-term upside potential. This can be a tall order if you don’t know what research methods to deploy. 

Bitcoin Mintetrix presale

Here’s what to consider when choosing the best ICO cryptocurrencies for your portfolio.  

  • Project Goals: We prefer ICO projects that have a clear objective. This should solve a real-world problem, or make improvements to existing products and services. For example, Bitcoin Minetrix is making Bitcoin mining more accessible through its stake-to-mine tool. This means that beginners can earn Bitcoin mining power without buying expensive ASIC devices.
  • Crypto Token Use Cases: The best ICO projects create a solid use case for their native crypto tokens. This can increase the token’s value over time, as there’s a clear reason to buy it. For example, users must buy and stake MK tokens before they can place bets on the Meme Kombat gaming platform.
  • ICO Exposure and Hype: The ICO space has become very competitive. The most successful projects find a way to attract investors in their masses. This can create FOMO (fear of missing out) and hype. For example, Bitcoin Minetrix has raised over $4.4 million. These fundraising achievements appeal to investors, as it shows the broader markets are bullish.
  • ICO Discount: It’s also a good idea to find upcoming ICOs offering an early-bird discount. This means you will pay a lower price than other investors, securing an immediate upside.

What are the Risks of Investing in Initial Coin Offerings?

Initial coin offerings are a risky investment. Before proceeding, consider the following risks:

  • ICO Scams: While only representing a small fraction of the wider ICO market, some projects are created to scam investors. For instance, the team might not have any intentions of developing the project. Instead, the ICO is a front to steal investor funds. They’ll also likely sell their own tokens on exchanges after the ICO. Discovering a crypto ICO scam before it’s too late can be difficult, so never invest more than you can afford to lose.
  • Token Prices Can Go Down: After the ICO is over, the tokens will be listed on exchanges – usually at a higher price. There is always the risk that the tokens will decline in value, leaving you with a loss if you sell. This can happen if many ICO investors dump their tokens at the same time.  Always be prepared for losses when investing in ICOs, as not all will generate growth.
  • Wallet Hacks: Like all digital assets, new crypto ICO tokens must be stored in wallets. If you’re not well-versed in wallet security, you’re putting your investment funds at risk. For instance, if a hacker is able to access your wallet remotely, they will steal your ICO tokens (and any other tokens stored inside). Always use a reputable private wallet that comes with solid security tools.

Conclusion

Initial coin offerings allow you to invest in brand-new cryptocurrencies before they go live on public exchanges. While the long-term upside can be huge, make sure you consider the risks before proceeding. 

One of the top cryptos we have reviewed in this guide is Sponge V2 ($SPONGEV2) – an upgraded token version of Sponge. This token offers high staking yields, and access to a play-to-earn ecosystem. Existing Sponge V1 token holders can stake their holdings on the newly launched V2 smart contract to earn a proportionate amount of $SPONGEV2.

References

FAQS

What are the best upcoming ICOs?

Are ICOs still happening?

How do you invest in ICOs?

Kane Pepi

Kane Pepi is a financial and cryptocurrency writer who has written over 2,000 articles, tutorials, and market analyses. Kane's expertise in specialized domains such as asset appraisal and analysis, portfolio management, and financial crime prevention has earned him a reputation for providing succinct explanations of difficult financial subjects. He holds a Bachelor of Science in Finance, a Master of Science in Financial Crime, and is currently working on his Doctorate degree, which will focus on the challenges of money laundering in the cryptocurrency and blockchain technology industries. Kane's wealth of industry experience make him a valuable resource for traders and investors looking to broaden their knowledge of the finance and crypto sectors.