There are many ways to invest in cryptocurrency, one of which is through presales. These are essentially sales of a token that take place before they are formally listed on crypto exchanges and other trading platforms. Presales come with a lot of benefits for investors as the tokens are listed at a lower price and can be an opportunity to make a bigger profit if they prove to be popular.
According to Kane Pepi, the best crypto sales include everything from upcoming meme coins to utility tokens. But how do you get started investing in presales? Consider the following steps:
Identify Presales
The first thing you need to do is identify presales you can potentially invest in and there are several ways to go about this. You can read through crypto-focused publications to get an idea of ongoing and upcoming presales. You can also sign up for newsletters that compile lists of promising presales for you to consider. Another option would be to join crypto-focused communities like Telegram groups and Reddit forums where you’ll hear all about the latest presales.
Another step in identifying presales would be to determine the type of tokens you want to invest in. There are many different types of tokens like utility tokens, meme coins, stablecoins, and much more. Try to read up on all these different types and decide which one appeals the most to you.
Before you begin your presale investment journey, you’ll also want to know how much money you are willing to invest in the presale tokens. The golden rule is to never invest more money than you can comfortably lose. It will also help you know which presale tokens fall within your budget and which do not. Finally, have an idea of how long you plan to hold on to your tokens and how quickly you plan to sell them.
Research Use Cases
When you have a number of prospective crypto presales you can participate in, you then need to consider the use cases. The use cases of a token will determine the demand for it in the market and thus, how much its value will likely change. For example, a token like Solana will see a lot of demand from the use of its native blockchain and things like Solana Casinos.
As such, you need to consider the use case of every crypto you are considering buying at presale. What is the possible use of the token? If it has a compelling use case, then it might be a worthwhile investment. If not, you might want to be careful about investing in it.
Do Your Due Diligence
One unfortunate issue that crypto investors are always having to deal with is the existence of shitcoins in the market and this includes at the presale level. So while looking for presales to invest in, you have to do your due diligence.
Consider the team behind the token and find out if they’ve been involved in successful or shady projects in the past. Look through the token’s whitepaper to make sure there are long-term plans for the ecosystem instead of a cash grab. Also, look towards the community for their opinions about the token. Do crypto experts think it has potential? Does the community think it is a scam? All these will help you make the best choice.
Register For Presale
Once you’ve decided on which presales you want to participate in, you’ll need to sign up for them. This is sometimes a bit tricky as presale registrations open and close a while before they actually happen. So, you’ll need to know about and sign up for many presales well in advance.
On top of this, only a certain number of tokens are earmarked for presales so you’ll have to be quick to make sure you get your hands on the number of tokens you want. Once you hear about a presale you’re interested in, find out the process for registering for the presale and make sure you follow all the steps to avoid losing out.
Purchase Your Token
Once the presale formally begins, make sure to follow all the instructions provided by the organizers. When you have the tokens in your possession, you’ll need to decide if and when to sell them. Some presale investors sell off their token stock once it hits the market and appreciates in value while others hold on to them long-term.
In some cases, presale tokens grant you access to certain perks which might benefit you more than selling them for profit. Consider all of these factors before you make your decision and, of course, practice responsible token storage while you’re at it.
Conclusion
Presales can be one of the best ways to get involved in innovative crypto projects and make money while doing so. They can seem a bit daunting to a newbie but the above steps will have you well on your way to finding the best possible presales on the market and effortlessly investing in them.
