ICO: Metamorphosis of the Financial World


Initial Coin Offering better known as ICO in and around the cryptocurrency sphere is a process in which companies sell digital tokens in order to raise capital for its various operations. Chiefly, the company offers investors an amount of tokens in exchange for other cryptocurrencies such as Bitcoin or Ethereum or some other legal tender.
Initial coin offerings raised over $6.5 billion in 2017 with one company raising $35 million in just 30 seconds. It took Facebook 7 years to raise $1 billion from the investors, Uber 5 years to raise the same amount, EOS, a project of Block.one, surpassed that amount in mere 9 months with its ICO. With such vast amount of money involved it has become indispensable to turn away from ICOs.
Participants can buy tokens which gives them special access to the product’s services at a later date. Investors can buy tokens during the offering whereby the token value can appreciate if the business is successful. During the initial offering the price of token is usually low compared to the price after the product becomes successful.
In this day and age where the number of ICOs are increasing day by day, it is imperative to find the right ICO to invest in and stay away from the unreliable ones. First of all make sure that the offering company is a legitimate. A quick internet search about the company and its team members can give a clear idea about it. Make sure that the company has a proper dedicated office space and has not been setup recently. Pay utmost attention to the Whitepaper and make sure it doesn’t promise instantaneous off the charts returns on the purchase. Be aware of ponzi or pyramid schemes.
The final and the most strongest check is to make sure that the company has a working product or the know-how and technical expertise to deliver the promised product.

Comments

Post a Comment

Popular posts from this blog

Whyral raises USD 600K as Pre ICO Seed Capital led by AKA Partners

Image
Whyral, blockchain enabled influencer marketing and evaluation platform powered by AI has managed to secure a seed capital of USD 600K from AKA Partners. Co-founded in 2017 by Saurabh Goel and Sooraj Singh, the start up intents to revolutionise the entire influencer marketing landscape. The seed capital will be further utilised for Pre ICO activities. Saurabh Goel, Co-Founder and CEO of Whyral said, “While working in digital marketing industry I quickly realised the need for a performance driven influencer marketing platform that could quantity ROI for brands.” Sooraj Singh, Co-Founder and CTO of Whyral said, “being a technocrat and crypto enthusiast I believed if blockchain and AI could be integrated in the right way than it could deliver a truly immutable and remarkable system.” With Ali Kassab acting as Chairman and Director at Whyral, the start up is more than capable to handle challenges. Ali being a serial entrepreneur brings years of experience in Fintech, Digital and
Read more

4 Reasons to Buy Whyral Token

Image
  With the Whyral Token pre sale round the corner, it is imperative to go through 4 reasons why everyone should buy Whyral Token. Token Economics - Out of a total of 150 million tokens, 69% are available for sale. That comes out to be 103.5 million tokens. The minimum amount for transaction is 0.1 ETH and during the pre sale 7000 Whyral Tokens are available for 1 ETH. After the pre sale the amount of tokens available for 1 ETH will continue to decrease. Looking at the current token economics, supply of the token is very minimalistic as compared to the price making token a must and an undervalued buy. Use of ERC20 features - Whyral token is developed using ERC20 protocol. Hence, it comes with all the benefits of the ERC20 protocol for eg. it can use the Ethereum blockchain and make sure that the data stored becomes immutable which can be used for further processing. Access to Trustless System - Whyral Tokens makes the entire payment system trustless. Usually for transactio
Read more