Can someone explain ICOs?
- Thread starter kosuo9909
- Start date
ironmarine
Newbie
- Jul 19, 2011
- 29
- 8
ICO is the abbreviation of Initial Coin Offering. It means that someone offers investors some units of a new cryptocurrency or crypto-token in exchange against cryptocurrencies like Bitcoin or Ethereum.
However, it depends on what the company is offering for ICO, how is their Whitepaper. You will have to go through it completely. Not only that, you will also have to find out the strong backing of it.
For example; when ripple was in ico stage it was being offered at around $0.17. When the news came out that Ripple was in talks with banks to use for their transactions it sky rocketed 1000% in a month time.
Given the above example, a good friend of mine picked up Ripple at $0.26 for 50,000INR ($785USD) got him around 3000 Ripple coins. Guess what happened recently. Ripple sky rocketed to $3 which means his portfolio when from $785 to $7.5K (4,50,000 INR)
Given all these details not every coin will surprise you this way. The key to all these is lot of study the ICO white paper, backing and research. And most important thing is patience and only start with what you can afford to loose if at all you are trying to start into crypto trading
There are lot of wealth clubs on the internet offering information that they will guide you on how to trade etc etc and pay $200/Month. Please dont fall into this stupid things. All they do is talk to you exited and ask you to invest where they have invested. What happens when you do that.? Its simple, they would have got money through affiliate marketing of the exchange, made money from your investments and a beautiful disclaimer that you are entering in at your own risk.
I would suggest that you start with a small money that you think you can afford and then start trading.
Also there are other crypto coins which you can buy exchange and hold and then sell when the price is right. Please note that all these requires lot of patience and also discipline.
Hope I have atleast given you some info.
However, it depends on what the company is offering for ICO, how is their Whitepaper. You will have to go through it completely. Not only that, you will also have to find out the strong backing of it.
For example; when ripple was in ico stage it was being offered at around $0.17. When the news came out that Ripple was in talks with banks to use for their transactions it sky rocketed 1000% in a month time.
Given the above example, a good friend of mine picked up Ripple at $0.26 for 50,000INR ($785USD) got him around 3000 Ripple coins. Guess what happened recently. Ripple sky rocketed to $3 which means his portfolio when from $785 to $7.5K (4,50,000 INR)
Given all these details not every coin will surprise you this way. The key to all these is lot of study the ICO white paper, backing and research. And most important thing is patience and only start with what you can afford to loose if at all you are trying to start into crypto trading
There are lot of wealth clubs on the internet offering information that they will guide you on how to trade etc etc and pay $200/Month. Please dont fall into this stupid things. All they do is talk to you exited and ask you to invest where they have invested. What happens when you do that.? Its simple, they would have got money through affiliate marketing of the exchange, made money from your investments and a beautiful disclaimer that you are entering in at your own risk.
I would suggest that you start with a small money that you think you can afford and then start trading.
Also there are other crypto coins which you can buy exchange and hold and then sell when the price is right. Please note that all these requires lot of patience and also discipline.
Hope I have atleast given you some info.