What were the top performing ICOs of 2017 for investment purposes?
In the world of cryptocurrency, initial coin offerings (ICOs) have become one of the most popular ways for blockchain startups to raise funds. In 2017, the ICO market experienced explosive growth, with more than $6 billion raised by ICOs. But with so many options, it can be difficult for investors to know which ICOs are worth investing in. In this article, we will take a look at some of the top performing ICOs of 2017 for investment purposes.
1. What are ICOs?
Before we dive into the top performing ICOs of 2017, let's first take a moment to understand what an ICO is. An initial coin offering is a fundraising method where a new cryptocurrency is sold to investors in exchange for Bitcoin or Ethereum. Essentially, an ICO is a way for blockchain startups to raise money for their projects.
2. Top Performing ICOs of 2017
Now, let's take a look at some of the top performing ICOs of 2017 for investment purposes. These are the ICOs that generated the most return on investment for their investors.
Ethereum is not only one of the most successful ICOs of 2017, it's also one of the most successful cryptocurrencies in general. Ethereum's ICO raised $18 million and the cryptocurrency has since grown in value to become the second largest cryptocurrency by market cap.
Golem is a decentralized supercomputer that allows users to rent out their computer processing power to others. Golem's ICO raised over $8 million and the cryptocurrency has since grown in value by over 1,000%.
Qtum is a blockchain platform that combines the security of Bitcoin with the smart contract capabilities of Ethereum. Qtum's ICO raised over $15 million and the cryptocurrency has since grown in value by over 8,000%.
3. Investing in ICOs
Now that we've taken a look at some of the top performing ICOs of 2017, let's talk about investing in ICOs. Investing in ICOs can be extremely risky, but also extremely rewarding. Here are some tips for investing in ICOs:
a. Do Your Research
Before investing in an ICO, make sure to do your research. Read the whitepaper, check out the team behind the project, and see if there is a working prototype. Don't invest in an ICO just because it's popular.
b. Diversify Your Portfolio
Don't put all of your eggs in one basket. Invest in a variety of different ICOs to spread out your risk.
c. Be Prepared to Lose Your Investment
Investing in ICOs is extremely risky. Be prepared to lose your investment. Only invest what you can afford to lose.
In conclusion, the ICO market experienced explosive growth in 2017, with more than $6 billion raised by ICOs. Ethereum, Golem, and Qtum were some of the top performing ICOs of 2017 for investment purposes. When investing in ICOs, make sure to do your research, diversify your portfolio, and be prepared to lose your investment.