Reviews of ICO (Initial Coin Offerings)

What's the Definition of ICO?

Initial Coin Offering (ICO) is a crowdfunding method utilized by fresh cryptocurrency companies to increase capitals. Back in ICO, some proportions of those recently issued cryptocurrencies are offered to people who are interested in supporting the project. They're offered to exchange for other established cryptocurrencies like Bitcoin, Fiat and Ether.

Backers buy the new cryptocurrency with an intention to create a profit when it increases in value. It is similar to the principle of folks making a profit once the share they bought at the stock exchange increases in value. ICO is different than purchasing shares at a stock market cause you don't receive a share of the possession right when you invest in the new tokens.

Brief History on ICOs

In the beginning point, ICO was conducted by companies such as Mastercoin, Ethereum and Karmacoin. Ethereum conducted among the largest ICO in 2014 by raising a total of $18 millions in the early phase of 2014. They break the record by raising 3,700 Bitcoins which is equivalent to $2.3 million dollars within the first 12 hours of the campaign. Kik conducted the first mainstream ICO in September 2017 however, the job was disrupted by a phishing scam through the circulation of a false URL from the social media.

Now, ICO earnings have become increasingly more popular with around 50 token sales being conducted each month. Beginning from 2017, ICO has been growing at a quick pace with $2 billion value of token sales successfully ran. This proves it is not likely to be a temporary method utilized by fresh cryptocurrency business to increase funds but it's here to stay for long term.

Nowadays, ICO token sale is so popular at least a couple ICO starts daily. It has been predicted that over $4 billion worth of nominal sales will be conducted this past year. They figure out how to increase a total amount of $2.3 million at the market presale.

How Does ICO s Fundraising Work?

A cryptocurrency firm which wishes to increase capitals through ICO must provide a few details including project description, project purpose, amount need to be increased, percentage of tokens the company will maintain, types of virtual currencies approved, and the timeframe of the ICO campaign. Backers that are interested can email the vendor and ask for more information of this job before doing a trade. If they successfully increase the amount for your campaign, they will execute the scheme to finish the undertaking. If not, they will return the money back into the backers.

ICO can be conducted to help raise funds for various kinds of businesses and charity business. It has also been utilized as an instrument by scammers to conduct frauds. Scammers would use means to grow the ICO value temporarily and leave the job afterwards to make a fast profit. Scams happen because of the lack of regulation by the government. Just like any investment, there is a danger when coming to put money into the initial coin supplying.
23.05.2018 20:40:57

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