Thanks for stopping by to read The Bee Token Review!
Dozens of Initial Coin Offerings have been coming across my desk weekly. It’s almost impossible to look at them all.
So today I wanted to do something a little different. I’m going to take you through my ICO research strategy. That way you can understand the process and what makes an All-Star ICO.
I chose The Bee Token ICO seeing I know nothing about it. Lets get started shall we?
The Bee Token Review
What I do when I look at an ICO I try and determine whether or not it has a working product or prototype. For example the Wanchain ICO was a great example of a quality token. It was an incredible ICO and should do very well in the future as a coin.
First thing you want to ask yourself. Does a token have value? Is it relatively simple to understand? Does it have the potential of offering real world solutions?
Then I look at the team and try and understand if they are All-Stars by looking at their past experience and if it’s relevant.
Being around the crypto space you get to know people so it becomes a bit easier. Faces and names become familiar. You know who’s legit and who the scammers are.
The more you study the easier it becomes.
You know the saying ‘Birds of a feather’ and there is some truth to that.
The Bee Token – Research Strategy
So my process is fairly simple but can take some time. I’m learning about the token. I want to see who’s involved. Is it something I believe can ‘make it’ to the exchanges and become an actual coin with value.
Some people do spreadsheets and videos. I personally like to do my research and blog about it. When I find a quality ICO I let my readers know through email.
The reason I am writing this blog post I really want you to understand the process. Going into anything blindly is never a good idea. Especially if you’re investing money.
This way you can decide quicker and meet certain deadlines. I can’t tell you how many people email me saying they missed the Pre ICO or the crowd sale.
Being able to recognize an All-Star coin and getting in early gives you a big advantage. That quick decision can mean the difference between a 3X gain or a 100X gain. I kid you not.
Getting in on the bonus period always gives u a huge advantage especially if a coin moons. You can take out profit multiple times.
So let me show you an overview when I’m looking at a new ICO.
The Bee Token Product
At this point in my research I am not interested in the website. I am not interested in the token economics. I just want to know whether or not it’s worth my time for further investigation.
A good place I like to start is the roadmap. As you can see in the picture above The Bee Token is a bit weak. I’ve looked at many roadmaps and The Bee Token is quite poor to be honest.
I was actually a bit surprised. After giving their website a quick glance I thought the roadmap was going to be a bit more comprehensive. Apparently not.
No ICO is perfect so that’s not really going to stop me.
So what is it The Bee Token wants to do?
After reading the ‘About Bee’ section and glancing over their website it seems they are a bit like Rentberry.
It’s basically like Air BNB on the blockchain. They have a 2 minutes video which explains a bit about the product. I never used Air BNB but I know it’s popular. Maybe The Bee Token is onto something here?
The Bee Token MVP
If you’re not familiar MVP stands for Minimum Viable Product. MVP is basically a product that has been given to users and it has successfully been adopted by them.
They don’t have an MVP on the website so it kind of forces me to read over their White Paper.
When I research an ICO the White Paper is NOT at the top of my list and doesn’t always hold the most weight.
If you have a lot of money or some experience it’s fairly easy to draw up a beautiful White Paper with lots of big words and pictures.
Go over to Fiverr and you’ll see there are LOTS of contractors drawing up White Papers and business is a booming.
Don’t judge a book by its cover, in this case the White Paper.
The Bee Token Team
Lets just assume for a minute they have a prototype because I’m not really finding it on their website or White Paper.
So lets take a look at the team. Rule of thumb I usually look for five All-Stars. Three All-Star team members and two All-Star team advisors.
Jon Chou is the Co-founder and CEO of The Bee Token. After looking through his Linkedin profile he is definitely an All-Star. No doubt. He has worked with some major companies and has a ton of experience.
Tony Tran is the next person I’ll take a look at. Like Jon he was also a software engineer over at UBER and has experience with some major companies. He actually worked with a company BIZO that was acquired by Linkedin. He was with multiple companies for over a year. Tony is an All-Star.
Jordan Ong is also an All-Star. After looking through his Linkedin this guys been in some major companies.
So we can stop the research for the core team. We could of course go through all the team members but there’s no point. Three are All-Stars.
There are twelve total team members all with Linkedin profiles. You can have a look by going to The Bee Token website and click on their pics.
The Bee Token Advisors
First person that stuck out was Richard Ma because he was CEO of Quantstamp. However if you look at his Linkedin I would NOT put him in the All-Star category. Not enough experience yet.
Yiseul Cho I was very impressed with as an advisor. She is in MIT graduate blockchain ecosystem builder with an extensive background dating back to 2004. Very impressive. Ms. Chow obviously knows what she is doing and it very smart. Definite All-Star.
Anastasia Andrianova without getting into it is an All-Star. Extensive background.
So there is our two All-Stars and no need to look at the other 12 Advisors. You can if you like over at The Bee Token website.
The Bee Token Socials
Usually found on the bottom of the companies website.
I always check out their social sites and engagement. This can tell you a lot. You’d be surprised how many ICO’s don’t even have Twitter or Facebook accounts set up.
Or maybe they set one up a week ago with 100 followers or something silly.
Rule of thumb. If an ICO is legit it usually has a solid following and they have all the main socials set up with some history. Facebook, Twitter, Instagram etc.
Telegram is also really important. If you don’t have Telegram I would suggest setting up a free account. All major ICO’s usually have a telegram channel. You can usually join and ask questions.
The Bee Token has a very active social presence. First I checked out their Facebook page. Almost 100k people following with an almost perfect score for reviews. Solid.
Here is a screen shot of their Facebook Page:
The Bee Token – Bottom Line
The Bee Token is something I would put aside and do your own research. It really does look like a promising project.
There are a few things that need a bit of work. Their roadmap was a bit weak. I don’t see an minimum viable products. These things can be worked on but it does take away from the score.
I really wanted to show you my ICO research process.
There really isn’t a perfect way to choose an ICO but you can really lower your risk.
If you go to some website and it’s got all the bells and whistles but you have no idea who’s running the show I’d personally stay away.
A lot of times I can look past the MVP a bit or the White Paper. If I can get an overall sense of the token and who’s involved I can sometimes base my decision on that.
Sometimes I just go with my gut. If I like the team and what they are trying to do I may invest just for that reason. I wouldn’t suggest this method if you’re on a fixed budget.
Always look for a strong team with tech talent, vision, MVP, constant contribution, financing, success (or maybe not).
The Bee Token – Conclusion
The more you understand the better your chances of success.
There are literally dozens of ICO’s coming out weekly. Just this morning I was able to disqualify five in a row. They were mainly comprised of a business and marketing team with a couple coders.
Not quite the All-Star team.
Anyone can write some ideas on a White Paper doesn’t mean I’m going to invest my money with them.
Make sure you are looking more closely at the teams development and pace. Not some scheme drawn up on some White Paper by contractors. Just being honest.
You want to be certain the team at least has what it takes to deliver results. Not just run away with your money. The Bee Token is not a scam and has a solid team. I’m not incredibly excited about the project itself but that’s just me.
I won’t be investing in The Bee Token ICO but I may invest post ICO.
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