Simon Cocking is the Editor in Chief of CryptoCoin.News and a top ICO advisor. The English editor graduated from the University of Sussex and has since obtained numerous diplomas from Georgetown University, University of Bradford, Dublin Institute of Technology and others. Simon has founded multiple companies and won an award as a digital marketing advisor. He is one of the top ICO advisors, holding the number one position for about 3 months on the acclaimed ICO website, ICOBench.
In today’s interview, Simon gives his opinion on what is required for a good ICO. Having advised on over 100, he believes the successful ones have a good product and a great team, with the experience and communication skills to share their strategy. Simon notes that good advisors should have experience and knowledge relevant to the project or ICO and that this is more important than profile or position.
His criteria to determine when to advise on an ICO rely on studying the documentation to see if the idea interests him and to make sure he understands it so that he can communicate the idea to others. Organization, realistic goals and aspirations, financial projections and the makeup of the team he’ll be working with are other important factors when determining if he’ll work with a specific ICO. These are key ingredients for any advisor.
Simon gives interesting tips on how to determine if an ICO is a scam. To begin with, he says people should look at the ICO’s URL to check that it’s registered. LinkedIn profiles are also good sources of information. Simon checks Telegram groups, where fellow advisors help each other and raise alarms when they spot a scam. Basically, the advice is to complete due diligence on any investment. When discussing marketing, Simon comments on the recent bans on crypto ads, and how sites like CryptoCoin.News are a great opportunity for ICOs to get the word out and release reviews by people not involved in the project. This gives potential customers additional resources to draw upon.
As for Simon’s favorite coins, he calls Bitcoin “the Kardashians of crypto”, famous for being famous. It’s potentially a store of value rather than something created for a particular need or to solve a problem. He is more interested in cryptos such as Ethereum, where the currency offers something. He believes the next step will be movie stars, sports stars or singers creating cryptos for fans to purchase to obtain products or support their career.
When discussing price predictions, Simon believes institutional investment could play a strategic part in bringing more capital to the market, potentially reaching the highs of last year. The problem lies in how young and unknown the market is as yet. As for Ethereum, Simon believes that, if the technology is figured out, the price will go up.