I bought a bunch of ICO tokens a couple of months ago... this is what I think of it
I picked 5 ICOs based on what I believed would gather most hype around. It was not really very well informed trading. I just picked five and thrown a relatively small amount of ETH at it, a little bit for fun, but who knows, maybe one of them would moon? :D
Here's the outcome: * 25% gain in ether... it was not a wortheless experiment, I did profit from it. * One of them was a scam, lost the ether thrown at it * two of them went straight to the red never to touch the green, leaving me with peanuts when it was time to sell * one of them has been on the green but hasn't even gone above a 30% increase of its initial value * Last but not the least. one of them went up some 300% and let me on the green. yay
The conclusion is that it is not really worth it. It's not at all like trading well established top coins. The best place I could find to trade was on on etherdelta and, no offense to the good people putting it together, it's still an horrible UX. Lots of click and wait, refresh page, wait, click, wait... I needed to spend quite a bit of time to get rid of these erc20 tokens. Even wallets wise, there is still a long way to go when comparing to major cryptocoins. Plus, as we move down the rank on coinmarketcap.com, we start to get into esoteric coins. Fragmentation of the community is real, it's not like there is web forums with thousands of people to discuss these things. And then there is the risk which gets higher and higher.
Many of these ICOs, obviously, are all over the palce during the funding process, but once the ICO closes, they simply don't give two shits about the project.
There has been people that might have made good money with ICOs. I wouldn't recommend it to anyone yet. It's still a wasteland. Although I luckily got out on the green, I wouldn't say it was a very positive experience. All the trouble and headaches to move the tokens around, plus exposure to risk were not worth it.
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