The Ever Changing Internet of Things: Hurify
Another up and coming ICO is one that goes by the name of Hurify. It basically wants to build an internet of things incentives platform that monetizes hardware and services for smart contracts. It basically wants to follow a lot of the other ICOs out there working on similar projects and we all are aware of how well these projects are doing in the real world. This ICO is not really investible because according to reviews online when one is communicating with their admins on their telegram channel they do not answer any questions regarding presell metrics. ICOs are not really trustworthy if they communicate but refuse to answer questions. It is understandable that certain people just can not answer but investors expect the basic questions to be answered because at the end of the day it is their money that is on the line. A investor would not want to put ten grand or so into Hurify if they refuse to answer very basic questions which is why they deserve a zero for token economics and that is why one needs to be very careful when looking at them and their presell options.
When it comes to the team one actually is convinced that they are a great one which places them at about seven and a half, however, when it comes to the hype they just did not have enough in my opinion. I do feel that this could be a great project but not many people seem to be talking about them online just because of the amount of competition as regards to ICOs at the moment so if you really want to be a better investor I think it is good to look at the fiat trading space to look at professional investors (people like Warren Buffet) despite what he might say about Bitcoin and cryptocurrency in general. He is most definitely a very smart person who said that diversification is protection against ignorance. It makes a little sense if you know what you are doing and I feel that the whole notion of buying into something and then basically spreading in is actually good. The risk is really a fool’s game. The problem with the diversification is that even though the risk is mitigated by the games of the setting of the losses the opposite is also true. The losses offset the gains and reduce returns. You got to remember all cryptocurrencies are tied to the price of the Bitcoin. If the price of the Bitcoin goes down then the price of your portfolio also goes down. So diversification as an investing strategy isn’t really that great. It is really important to stay one step ahead of the competition really to think outside the box and know the market.
It is advisable for one to conduct their own research regarding ICOs and their limitations or advantages as the internet is not a good financial adviser when it comes to how one should handle their money, however, a quick overview of the way an ICO works, its token economics and its white papers is a good dive into what the ICO stands for.
Keeping all that in mind, it is essentially up to one’s own self whether they choose to invest in an ICO or not. Research, analyse and approach with caution. The world of ICOs is your own playing field and whatever way you choose to venture out in it, make sure you are fully equipped and motivated before doing so.