Presale is often the best time to invest in new projects, as the low prices set for a token are almost guaranteed to rise, and may do exponentially if the launch is successful.
However, investing in presale projects is also risky- from a project’s lack of history-making its trajectory unknowable to the fear, that the project could all just be an elaborate scam. It is a genuine risk with the real possibility that investors may lose money, meaning knowing just which projects to invest in is vital.
There are a few key aspects to look out for when assessing the legitimacy of a new project, from whether they are being hosted on a reliable launchpad like BoostX to the quality of the marketing strategies the project is undertaking.
These are just three aspects to look out for when assessing a project, that will help you invest wisely and be in with a chance of making big returns.
Legitimacy Through Launchpads
Launchpads are platforms that host a variety of presale projects, providing advertisement not only through exposure via their site but by the advertising services also frequently provided by the platform.
The relationship is mutually beneficial, with the success of a project being equally beneficial for the launchpad. As such, launchpads typically will only host projects that they believe in, as a failure will also negatively impact the launchpad.
Take BoostX, for example.
The BoostX launchpad hosts a variety of highly anticipated projects, from Parody Coin (PARO) to FIREPIN Token (FRPN). All of these projects have been hand-selected by the BoostX team, with their team of journalists working to create written pieces to help expand these projects’ reach, whilst also providing in-depth information for potential investors to use as research.
These projects have a lot of work being put into them from an outside source, with BoostX providing legitimacy through its projects by working as a moderator, with the projects having had to go through a tough vetting process to be selected for the platform. With this much outside inspection, it is unlikely these projects will be a scam.
Furthermore, with the amount of support behind them, projects being promoted by launchpads such as FIREPIN Token (FRPN) have an inherent advantage over other projects, increasing their likelihood of success through word of mouth and journalistic advertisement.
So, when looking for presale projects with big potential, be sure to check out launchpads.
CertiK Audits
The cryptocurrency community has unfortunately been victim to many scam projects, from rug-pulls to data collection to hacking. The infancy of the market means it is more susceptible to these events, and as such, third-party programs that exist to curve this issue play a crucial role in the crypto ecosystem.
One key player in this field is CertiK, which provides audits to projects to test their legitimacy and safety for potential users. This is done by running scans and simulations on systems to test them for coding vulnerabilities, and scoring projects out of 100 on their safety and platform security.
Projects that request a CertiK Audit, therefore, are most likely to be legitimate projects. The fact that they have been, or are being assessed, is proof of a project’s desire to be safe for its users, and that hacks or data harvesting are unlikely to affect the platform.
Presale projects typically will not have a CertiK Audit straight away, but may be in the line for one, or may have an audit planned in their roadmap. FIREPIN Token (FRPN), for example, is currently waiting on their CertiK Audit, meaning the project is one that investors can get involved with in confidence.
When looking for presale projects to invest in, be sure to be on the lookout for the Certik Audit stamp of approval.
Be Wary of Influencer Marketing
If the failure of projects like Fyre Festival has taught people anything, it is that projects being sold purely on the backs of influencers may not always be all that meets the eye. This is also true of crypto projects.
The efficiency of influencer marketing is not something to be ignored and is a fantastic way for presale projects to get their name out there and draw attention to their projects. However, when there is little substance to back the project beyond these online celebrity advertisements, there is a good chance that the project may not be all that it seems.
When looking for new presale project investment opportunities, be sure to research the project thoroughly. How well put together is their website? How clear is their roadmap and objectives?
Making sure that there is a strong foundation behind influencer-marketed projects is crucial to making investments that will work out in the long run. Without proper infrastructure, a project can easily crash and burn, hyped through influencer marketing and then released with little to offer.
As such, when choosing your next presale investment, don’t let the buzz of influencer marketing sweep you off your feet. Research carefully, and be sure that there is substance beyond the surface.
Conclusion
Presales are a phenomenal time to get involved with upcoming projects, as early investors provide the liquidity needed to get these projects off the ground and give them the chance to spread their wings. However, this can be a gamble, meaning research is crucial.
While these are not the only three factors to account for, they are certainly three to keep in mind. Be sure to look thoroughly into new projects before investing, and make sure to only invest what can be afforded.
Learn more about BoostX at: https://www.boostx.finance/
