Stella Posted May 30, 2020 Share Posted May 30, 2020 Outline the factors to consider to succeed Initial Coin Offering? Quote Link to comment Share on other sites More sharing options...
0 Danitah J Posted May 30, 2020 Share Posted May 30, 2020 Hi Stella, Investing in cryptocurrencies is usually a good investment option. On the other hand, it can eat you up till you quit the venture. Everything about cryptocurrencies from mining to storing transactions occurs online. The digital nature of cryptocurrencies leaves typically it exposed to cybercrimes. The Initial coin offering (ICO) is an excellent example of cryptocurrency undertakings where people easily fall for traps. Before you take up in any initial coin offering, make sure that you keenly research it and be confident enough to deal with it. There are several ICOs that you may have read about and have seen how successful they have been. However, this should not make you hesitate from looking deep into it; you may find a red flag that will keep you from engaging in it. Always make sure that you keenly scrutinize and examine the white paper before you take part in the project. The white paper outlines typically what the project entails and its objectives. Look at the areas that may result in problems not leaving behind those not clearly stated in the white paper. Some white papers with those problems you term as small and others that do not clearly state everything you need to know may result in significant losses if you engage in that project. You must dedicate ample time to research the developers and other people who are part of the project. There have been many cases where an ICOs project has stated people are taking part in the project while in the real sense, they are not part of it. Keenly researching on the individuals taking part in the project will significantly save you. ICO projects aim at achieving different goals, and their characteristics also vary. However, several of them have a common element, which is financial transparency. A company that publicly shares its financial information with you is worth dealing with. Those that hide it from you may not be legit, a big red flag not to take part in that project. In ICO, there is wide use of tokens, and you will buy them, hoping that their value will increase. It is essential to know how these tokens are issued and how you can own them before you invest in ICO. These are just a few things that you can consider before you take part in any ICO project. Doing your thorough research is the best way to ensure that you do not fall for a trap. And as you research, better and real opportunities may present themselves. Quote Link to comment Share on other sites More sharing options...
0 Bazinga Posted June 9, 2020 Share Posted June 9, 2020 Hi Stella, The cryptocurrency industry has been full of surprises where investors have been able to generate a lot of profit and also losses, especially where there was fraud or scamming. You may be a potential developer, a startup founder, or an investor who is looking forward to investing in a new project which has uncertainties or is not yet tested. Regardless of all these positions, you are required to accurately determine if a coin offering has all that it takes to be successful. When choosing an ICO, your choice should have vast scale potential. There are a lot of ICOs emerging in the market, and due to this, competition is becoming stiff. A good ICO should be able to adapt and keep up with the game. An ICO should be able to attract investors. A large number of investors are young miners who have made millions with bitcoins an are in search of better block-chain opportunities and are not interested in financial profit or stock ownership. These people clearly understand the technology behind the project and will invest if there is a notable positive outcome. For you to succeed in ICOs, you should ensure that you have a well-detailed whitepaper and that you have a reliable team. The team you are working with paly an essential role in the success of a project. Make sure that your team has evidence that it is committed and disciplined, do not just make claims with no solid proof. Investors are required to always do due diligence before going into a new investment. Take a good look at the whitepaper identifying any shortcomings associated with the project. A well- written whitepaper is not guaranteed that a project will be successful, but a shoddy paper is proof of inevitable project failure. Go ahead and conduct your research about the project and only consider it as an investment option of you are entirely comfortable with it. Quote Link to comment Share on other sites More sharing options...
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Stella
Outline the factors to consider to succeed Initial Coin Offering?
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