The first Cryptocurrency Bitcoin is now most popular these days due to her market price, every investor and business tycoon are interested to invest in Bitcoin.
Nowadays Maybe you hear the many things about the Bitcoin, but there is still also some point which is not heard by anyone,
Here I am Share the Top 10 Unbelievable Facts about the Bitcoin, Read it carefully.
ICO (Initial Coin Offering) is a common choice of fundraising for cryptocurrency startups. This involves the company putting a part of its future crypto tokens on sale in exchange for initial funds. This is beneficial both for the company and for the token buyers.
The ICO gives a startup a perfect and affordable way to raise money to carry their project requirements, while at the same time, strategic investors get an opportunity to invest in a market where a high return on investment is almost guaranteed. Or is it?
In the past few years, crypto startups have managed to raise funds in billions of dollars and presently, it is being considered the most effective way to raise money for a new company.
However, not all ICOs are alike and not all ICOs can guarantee you an assured return on your investment. Therefore, it is important to choose and invest in a good ICO.
Here are a few tips for Investing In ICOs. You will also find here some reasons why you should consider investing in an ICO?
Know that you are not actually investing in a cryptocurrency, since the currency has probably not been launched yet, but in the idea behind that currency. So, the first thing you need to do is try to figure out whether the idea is worth your money.
Does the company/idea provide a Blockchain based solution to a problem which cannot be solved otherwise? If not, then the public would probably not be eager to adopt it.
Does a similar solution already exist? If yes, then why would someone be looking for the same product unless it has something unique to offer?
You can tell a lot about a company or business just by looking at its website. The level of professionalism on the website, including the availability of proper and right information, is crucial. Look for the following things on the website of the ICO in which you are considering to invest.
The White Paper – a white paper detailing the layout of the project including all the information, proposal, idea, target market, etc.
The roadmap – If they are serious about the project, they must definitely have a project roadmap (timeline).
The team – a reliable company will always show the team behind the project to increase the user trust.
Website appearance – A company that desires to raise money from investors must be ready to invest in its own website. If they don’t, they are probably not serious about the project.
It is also important to check whether the company has any experience in the particular industry as well in general business market. Make sure that the team members are experienced and qualified in their specific areas. Whether the company has previously managed any multi million dollar business or any projects of the same measure. Who are the advisers, legal team members and investors of the company and so on.
You cannot be too cautious when it comes to finding the right ICO to invest in. Cryptocurrency may be one of the fastest rising markets on the internet, but it is also very much vulnerable to fraud. Be alert and take better decisions to find the perfect place for your investments.
Victor Hugo once said, “Nothing is more powerful than an idea whose time has come”. Many ICO project develop a parallel XMPP server feature for Blockchain technology is one such idea.
XMPP stands for Extensible Messaging and Presence Protocol. To explain it in simple terms the reason why you and your friends can share content like texts, images, gifs, videos etc to and fro is because of this protocol.
It differs from the general HTTP protocol in the sense that in HTTP the client-server communication is one way whereas in XMPP it is both ways.
Due to slow blocks on the blockchain, the integration of XMPP will have high latency. But encrypted messaging may lead to IOS/Android wallet apps being able to have encrypted messaging conversations with external XMPP clients (trillian, jabber, etc).
Let’s try to understand the ins and outs of the IM Protocol or the XMPP architecture. We also throw light on some of the possible solution paths we are working on to migrate XMPP features on BlockChain.
XMPP enables bi-directional content sharing between individuals or groups on the TCP/IP protocol. Some important features that KahnChat thrives each day to emulate on its BlockChain based Wallet cum Social Media App are:
One-to-One as well as Multi-Party Messaging
Contact Inventory: Access to User approved Contacts
Subscriptions Details and User Notifications
The above features make XMPP a goto feature for chat apps. Developers use these to make secure and easily scalable apps for app stores. Hence, a similar feature in blockchain will open the Pandora’s box for scalability.
Scalability is a major roadblock for blockchain based systems or services. To scale a system that copies all the transaction it undertakes is a humongous task involving a lot of time, space and an extremely efficient resource management.
Ethereum is one of the many different blockchains. Let us look at some of its technical parameters.
|No of Transactions Confirmed per Second on the Ethereum Blockchain||15 tx/s|
|Confirmation time in the Ethereum network||14.8 seconds(on 19 Feb, 2018 )|
In the last year or so, the demand for Ethereum network has increased manifold. This is mainly facilitated by the increasing number of ICO’s using Ethereum network. Hence the network is congested and loaded.
The Future Highway
The blockchain is still a very raw technology with great untapped potential. Ethereum has deployed Raiden Network to resolve the scalability issue. This would be followed by the Metropolis and Serenity (Beta Solutions). Solution deployment will drain time, money and most important of them all: quality network architects. Plasma networks though in its infancy are supposed to increase tx/s to “billions per second”.
Initial Coin Offering or ICO is the term which you are frequently coming across these days. There are plenty of news or links currently running on the internet about ICO’s. Concerning all the matters which are ruminating around you, you must be thinking is it right to invest this time and grasp the opportunity or just stay calm as the decision can later make you regret over the decision.
Keep this thought aside for a while and question yourself do you want to make your year 2019 a profitable opportunity to go for?
If your answer is yes, then you are at the right place to further clear out your doubts in this regard. Just take a chance and join as a small investor to plunge into the opportunity. As you know with the growing world, it is necessary to walk fast not to let others behind but to pace with the modern world like the promising ICO offering.
A professional team can help you guide through the way by making every step simple and understood. But there are various options available in the market. Therefore, it is hard to find the ideal ICO which fulfills your necessity and ability to create a solid flow of income in your way.
It is necessary to choose an ICO published by a reputed firm or business. Else, you might end in the dark and it can further demotivate you to further invest in future.
Read the whitepaper thoroughly and once you are done doing it, make a sketch of the companies business model and future goals. The next thing that you should do is answer these questions before you are doped over by the luring figures of the investment return structure on offer:
Does the company launching the ICO has any experience or is it a bunch of people leaving on edge of their reason and just hoping to make it big with a blindfolded shot.?
It’s important to know for sure the nature of the business. Assess properly and evaluate if the company launching the ICO is real or not. Be very careful so that a shell company does not leave you shell-shocked.
The ICO tokens should add value and utility to the business. They should be like the rivet that join the different link pins of the business together. They must be the glue that binds the bigger picture together. You should understand the purpose of the token and its utility for the firm.
Never be lured easily by a well-organized existing business with a solid plan. Remember that the business model should answer these questions for you at the very outset:
1. There should be an existing problem that the business model solves.
2. The Solution should be viable and not hypothetical.
3. The Company must have some tangible experience to show.
4. The ICO tokens if not the core must be an inextricable part of the solution.
The best whitepaper is the one that puts forth a complete roadmap as well as defines all the milestones that the business is willing to achieve in the future.
Let’s face it not all great ideas see the light of the day and not all ideas are feasible. ICO’s are non-regulated. There are no Quality filters for the team’s launching them.
Besides carefully analyzing the business idea alone, try to look behind the curtains. And cast your thoughts on the possible long-term implementation.
Remember if great companies could be made on a piece of white paper, then there is no need of this blog. Great ideas need not always answer or solve great problems. Never be lured by an unrealistic proposition. Make sure the project has a strong and achievable concept behind it.
Great Companies, Ventures, Startups etc have one and only one thing in common. They comprise of people who are passionate about their work. Money is secondary to them, they wake up every day because they love what they do.
Stay away from ICOs that are run anonymously. Without any trace of responsibility, the faceless firms can just vanish out of the blue. Check out the website for team details to get a firm idea about the pillars that support the company. If any google search or equivalent research on your part returns no reliable information, consider it as a red flag and remain averse to the offering.
Remember the infrastructure as well technical prowess required for running a blockchain based business model is intricate and needs to be underpinned by a highly technical group.
Scalability both in terms of technology as well as operations is of primary importance. Perception and goal determine the longevity and growth of a company. A company should very clearly define in its roadmap its future strategy as well as the future growth verticals it plans to scale. Also, the company should be dynamic and ready to take feasible alternative approach.
In case the original one does not pan out as planned. The business environment is quite hard to understand nowadays in all fields of activity.
Be sure to cross-check the previous projects undertaken by the company to analyze the flexibility and scalability of the company during a crisis.
The whitepaper should not vague in nature and should contain enough details for prospective investors. It should very clearly present the following things:
Communication is the key for companies to build networks as well as customer base. Look out for the social media footprints of the ICO offering Company. Visit the facebook page, the twitter account as well as check the linked in profiles of the Founding Team Members of the company.
A transparent company would also share informative blogs about the solutions it is working on as well as the press release would draw parallel with the roadmap shared in the whitepaper. This is the best way to see whether the team is eager to help investors and glad to communicate with them.
Don’t place your hard earned money on inexperienced startups. More than half of the startups close down within months of starting operations. Instead, buy ICO’s of companies which boasts of experienced team members with a proven track record in technical as well as business operations.
Buying ICO tokens of newly mushroomed startups comes attached with a whole set of risks and insecurities. In case the idea of a new startup has completely taken you off your feet, make sure to consult an expert.
The one thing you should zero down on while going through the roadmap is the soft and hard caps of the ICO. In some cases, the hard cap projection goes out of the roof. Make sure that the hard cap actually makes sense. You must seriously consider twice before investing in those ICO’s that require only one-tenth of the projected soft cap for procuring the listed items in the roadmap.
A good ICO’s Token distribution plan will encapsulate within it the following features:
The whitepaper should precisely highlight all important terms and conditions of the ICO. It should very clearly be aimed at serving investors and throw light on the values the project stands for. A reliable and transparent ICO will provide great customer support for investor queries and grievances. In case the ICO’s platform does not do so, make sure to do the necessary research at your end before jumping on the supposed bandwagon.
We hope that the above ten points will enable you to take an analytical approach towards ICO’s and ensure that you stay away from Ponzi schemes and in the process gain a good ROI on your investments.
Cryptocurrency industry has been continuously rising ever since the growth of bitcoins. Whereas one BTC valued around $0.30 in 2011, it had a value of over $10k.
Anyone, who is investing in cryptocurrency, is now enjoying good returns. The same is true for many other cryptocurrencies like ETH, Ripple and more. This is the reason why people are so actively focusing on investing in ICOs than most other markets these days.
An ICO (Initial Coin Offering) is a coin crowdsale conducted by any new cryptocurrency startup with the aim to raise funds for their crypto project. So, if you are planning to invest, an ICO would be the perfect option for you.
Looking for the right ICO to invest in 2019? Try KahnChat ICO. It is backed by a super amazing social mobile payment app. You have to make the cryptocurrency investment strategy to analyze a cryptocurrency’s investment potential.
The next thing to do is plan out your investment to ensure maximum profits from ICOs. Here’s how to do that.
Invest in the Concept
Instead of investing in an ICO or in the token, invest in the idea. The token’s capability to produce revenue in future depends a lot on the power of the concept behind. Invest your money in an ICO that is based on a unique and futuristic concept.
Look out for Bonus Deals
New ICO startups usually offer bonuses or some other kind of offers on the sale of their tokens. You can get more profits and make more money by securing bonus tokens. The key is to buy early and buy the right amount.
That is a really sweet deal and probably the best you can find in the market. Most companies offer a higher bonus to their early buyers, so try to get involved in the pre-ICO stage.
Hold the Tokens
This might sound strange. Most people would buy cryptocurrencies with the purpose to resell them or exchange for BTC or other currencies. However, the value of tokens increases only with time.
Instead of selling your tokens right away on the market price, you should wait for a few months for the rate to increase (which surely will happen). Even if you want to sell the coins right away, hold at least a few of your tokens for the long term.
The best way to earn an instant profit is by selling your tokens. The price of a crypto token starts increasing once it is launched on exchanges. You can sell some of your tokens if you are getting a good price for them or trade them for other cryptocurrencies like ETH or BTC which are already growing huge.
The growth of the crypto industry has attracted many fraud parties that accept investments with false promises. Be aware of such companies while choosing the right ICO to invest in. ICO is a simple investment option, more or less same as other investment markets like IPO and the stock market.
You need not overthink or try out special techniques or models in order to get success in this industry. Just keep it simple, choose the right ICO, read the terms carefully, understand the risks and enjoy the benefits.
If you are looking to invest in ICOs, be sure to do extensive research on the company that interests you and keep an eye on trending tokens to analyze a cryptocurrency’s investment potential.
From the above discussion, we can conclude that investing in cryptocurrency is the better, secure and easiest way to earn more money.
The cryptocurrency market is on a boom, which is beneficial not only for leading currencies like bitcoin and ETH but also for almost every other crypto coin.
A cryptocurrency itself doesn’t have any standard rate or price since it is not regulated by any authority. The value of such a coin depends on the market. This is how the price of cryptocurrencies are determined.
Let’s find how does cryptocurrency gain value?
The main use of a crypto coin is to buy goods and services. So, a coin will be valuable as a unit of exchange. For example, you can purchase 1 gm of gold for 1 coin, and so on.
Cryptocurrencies hold value on behalf of other physical material/things and can be used to store such assets without needing any central bank or authority.
This is the main benefit of the use of cryptocurrencies. They do not require any central bank or person to govern the transactions or accounts of users. This is why they are more secure and easier to manage.
Let’s discuss the things that affect the price of cryptocurrencies or how is the price of a cryptocurrency determined:
Here are some factors that define the price of a cryptocurrency:
Supply and Demand
The number of total tokens released against the demand in the market will significantly affect the price of the coin. For example, if a company decides to release only 100 coins in the market, the coin will naturally have a high price because of the lower supply as compared to the demand.
The more features and secure blockchain a token has, the more complex it will be to mine it and the price will be higher.
The value of cryptocurrencies is largely affected by what people think about it. For instance, when people started taking Bitcoin positively, its price increased and is still increasing. It all depends on whether your coin has the potential to provide any significant value to the public.
Media and Marketing
The promotion of a crypto coin starts way before its actual launch. How much your coin is being talked about in the media, online news sites, press releases, etc, will highly impact its user demand and price.
Apart from the top few cryptocurrencies, almost all others are facing severe market competition leading to dilution of currencies that have no practical utilities. Your coin can survive and gain value only if it has something unique to offer.
Value against Bitcoin
When people first hear about a new cryptocurrency, the first thing they do is compare it to the price of Bitcoin. Bitcoin has become the reference currency for all other cryptocurrencies in the market. The growth (or fall) of bitcoin may therefore also affect the price of your own coin.
Ever since the launch of the very first cryptocurrency, this industry is facing legal battles from everywhere. Most of the governments are unwilling to allow digital currency since they are unregulated. If the government is not on your side, your coin may not gain the value it should have gained otherwise.
Most of the cryptocurrencies in the market are based on the blockchain technology, and it takes a lot of energy to secure and run a blockchain. This energy also adds to the cost of the project and thus determines the value of the coin.
The real value of a crypto coin depends on how much it is usable and for what purposes. A coin that has no real-world applications will not attract many investors. This is why most of the digital currencies today are backed by a range of applications, such as payments, exchange, and investment.
Investors, especially the big ones, have the power to manipulate the price/demand of the new cryptocurrencies. By purchasing a lot of cryptocurrencies and/or promoting good things about them, they can positively affect the prices.
If you are planning to develop a clone to bitcoin or any other popular cryptocurrency, do not expect people to show interest in it. Only if your coin/concept is appealing and innovative enough, it will gain value in the market. See the example of KCH coin. They have developed a token backed by a unique and powerful social media mobile payment app that will actually have real-world applications.
The price and value of a digital token depend largely on the factors mentioned above. Even though the initial price is defined by the launching company, the growth in the rate will depend on the uniqueness and cost-effectiveness of the coin.
During the past several years, the traditional Investment Management (IM) industry has seen rapid changes with the appearance of well-funded fintech companies, the digital tsunami and the shifting of demographics. DCI is one such upcoming finance preferred ecosystem that leverages the digital capabilities in order to provide excellent investment opportunity for the private, retail, and institutional investors. DCI uses advanced technologies like AI, machine learning, and Robo-advisory to offer a complete 360-degree view of the private and institutional portfolio to the users of the ecosystem.
Coming back to traditional investment methods in the IM industry, it is observed that the traditional investment methods like mutual funds and hedge funds do not guarantee an excellent return to investors due to limited investment opportunities and larger capital requirements. In the recent past, investing in mutual funds has also been considered as expensive by IM industry experts that is largely considered as an anachronistic ETF.
In the cryptocurrency space too, the investors are looking to invest in digital crypto funds that offer high returns with minimum market risk. In order to help investors, modern fintech players, such as DCI (Digital Crypto Invest), are planning to provide active portfolio management capabilities in a ready turn-key ecosystem featured by modern technologies such as Artificial Intelligence (A.I)/Robotics.
Despite rapid changes in the IM industry, it is important for the investors (i.e. private, retail and institutional) to obtain proper knowledge regarding the difference between types of funds in terms of risk, return, tax treatment, and investment opportunity.
Here are the category-wise differences between three major funds, which include equity funds, hybrid fund, and debt funds.
When it comes to investment risk, the equity funds come on top with a high-risk rating in comparison to debt and hybrid funds. Equity funds are the ones that primarily invest in stocks. In equity funds also, the risk varies in sub-categories. For instance, mid-cap and small-cap are riskier than the diversified large-cap funds.
The lowest risk credit in the equity category goes to index funds, which passively tracks the index. On the other hand, in the debt category, the risk rating is mainly determined by maturity and credit quality. Debt funds primarily invest in different securities like Treasury bills. High maturity generally incurs high risk in debt funds. Lastly, in the hybrid category (debt and equity both), the riskiest category is the balanced funds as it has a greater than 50% exposure to equity.
In obvious terms, it can be simply stated that the returns expected on each type of fund are generally proportional to the risk taken by the investor. One thing that affects this relationship between risk and return is Total Expense Ratio (TER). TER, in simple terms, can be defined as the total cost that incurs to the investor for managing and operating any fund like a mutual fund.
The level of TER varies with active management of funds by the investor. Talking about three different funds, the closely ended and liquid funds have a low TER in debt category, whereas in the equity category, diversified and sectoral funds have high TER and high expense ratio. In the hybrid category, arbitrage funds are largely passive in nature, hence have low TER, whereas the balanced funds have high TER close of 2.5 percent.
Apart from TER, the choice between regular and direct plan also affects the NAV to investors, and as a result, overall return also gets affected.
Keeping this in mind low TER would be the best choice for investors to have a high return in the alpha markets.
Talking about taxation, there are broadly two categories, dividends and capital gains, on which taxation scheme of things gets imposed. In the case of dividends, the capital earned is tax-free and is directly handed to investors in case of debt, equity, and balanced funds. However, the Dividend Distribution Tax (DDT) generally varies in each category. For equity, DDT is 10%, whereas the debt category has a much higher DDT of 25%.
In a period of less than 5 years, the global financial market experienced a sudden rise and fall of a an unique trend. ICO, Initial Coin Offering emerged as a trend raising considerable amount of funds in public sphere. Although backed by a technology not popular among masses, ICOs were successful to gain good consideration as an investment opportunity. Ethereum was the first successful ICO raising bitcoins equal to US dollar 2.3 million back in 2014. Starting with Ethereum’s success, ICO became a bandwagon for businesses and enterprises reaching incredible peaks in terms of fundraising. Until January 2018, Filecoin was the ICO with highest grossing funds backed with token sales worth US dollars 257 million.
However, within a year of this bullish trend, by 2019, now ICO reduced itself to a failed buzzword. Although the trend of failing ICOs was quite rampant in the beginning of 2018 as well, the recent market fell to a state that it does hesitate to align ICOs with words such as ‘RIP’ and ‘90% ICOs are failing’. Citing ICOs as a bubble, there were strong criticisms indicating it as a mechanism of scams. This happened because either most of mushrooming ICOs were not backed with adequate technology to support their claims, or they prioritised the objective of rising public fund rather than adding value as a problem solving mechanism. A major reason to this is also the approach of ICO enterprises to align themselves with IPOs.
ICOs are based on crypto tokens and currencies. They are not merely shares with a purpose of rendering profit to shareholders. Most ICOs fail ignoring this fact. While, tokens and ICOs with a purpose of utility are still with much relevance in the market. For instance, tokens like Ripple, IOTA, Steller are serving strong purposes in several industries.
This is where the concept of ICOs is gradually beginning to transform to STOs, the security tokens. A Security token may not be similar to Utility tokens like Stellar or IOTA, they are based on credible securities, bonds, revenue or even tangible assets belonging to the ICO. More importantly, it hits the bullseye solving the most important lacuna related to ICOs, Regulatory Compliances. Since, STOs are based on securities, it is under direct purview of licensing and security compliance authorities.
STOs are gaining a good traction in the financial market for its credibility. There are two primary reasons for this. First, the underlying mechanism behind a security tokens is simply the smart contract which ensures the proportional relation of its value to the value of the asset or securities it is connected to. Thus, they are transparent and simple compared to ICOs, which often require massive information to convince investors with wordy whitepapers and technology jargons. STOs are comparable to cryptographically secured digital representation of share or revenue of the promoter enterprise.
Second, STOs are under the ambit and scrutiny of state laws and regulatory bodies. The technology mechanism behind Security Tokens must align with the security laws and regulations of the state or the country of its origin. Thus, it naturally increases its credibility as an investment avenue.
STO is the connection between SEC and Cryptocurrencies. It provides a legally authorised identity to crypto tokens. From investment perspective, STO is comparable to digital representation of stocks and shares. There is a strong probability of their official adoption across the globe, as digital currency became an irreplaceable development in finance.
As an ICO adviser, I often come across several queries associated with Initial Coin Offering. More ICO projects come into light every day, and many people with no knowledge about ICO are entering into this field. The people are taking interests in it, as media have reported that funding in Initial Coin Offering is high.
As I have mentioned that people with no idea on ICO are attracted to it, so I want to brush up your basic knowledge about it before going ahead on the topic.
What is ICO?
ICO or Initial Coin Offering is a platform for raising funds. In this mechanism, new projects vend their original crypto tokens in a transfer of Ether or Bitcoin. It is very similar to IPO (Initial Public Offering) in which people buy shares of an organization.
In spite of being a relatively new phenomenon, it has fastly become a prevalent topic of discussion in the community of Blockchain. Many of the people take ICO projects as unfettered securities, as these projects permit project owners to raise a low amount of money. On the other hand, several others take it as an innovative way to fund a venture.
What is Blockchain?
Blockchain is a distributed and decentralized ledger. By using this technology, every transaction is recorded. Without approval from stakeholders/creator, no one can alter data. Being transparent, secure, and safe, this technology has gained enormous popularity in the finance sector. Businesses of several different industries are working on this technology to make it better for their business operations.
What is White Paper?
As a document, WP or White Paper supports your probable customers take a favorable decision in favor of a particular product/service or your organization. If it fails to help clients in making a favorable decision, it might not be a WP. In layman words, it is something amid a marketing brochure and an article. Apart from containing useful information, a White Paper leads to a list of facts to encourage customers to buy a product/service.
Now, I come back to the topic – ICO Myths. I am going to mention the five most common myths:
1. Starting an ICO is effortless – False
No, it’s completely false. You need to do your homework first before going out for raising funds. Having a well-brought-up white paper is just beginning. Most of the ICOs underestimate legal aspects that are significant. And the legal issues are pricey. Be ready for a considerable war chest, as the cash flow is going to be outlandish for you. Have the patience you can, as starting an ICO would be a long journey for you. It might take even more than one year.
2. Setting up money for an ICO is easy – Totally False
Rising funds/money for ICO is not like a Cakewalk. Investors in today’s world think a lot before making any investment. It is, as several investors have lost their money or many ICOs are Yet to Perform. The investors have become more conscious in selecting projects, and you need to follow them a lot to draw a little form of attention. You need to have an in-depth idea about the crypto community and find out the right people who can be your cash resource. It is very different from a park walk.
3. Every whitepaper is factually correct – Not True
In a white paper, it is easy to find out fraudulent or incorrect assertions. However, it would be harder to notice factually wrong data. TRON sets a unique instance in this sense. It had plagiarism. However, it showed it was licit, leading to a diminishing to the industry credibility.
4. The success of ICO is guaranteed – Success ratio is half.
There is no guarantee of success. While investing in an ICO, you need to be very careful. According to Sodium Capital, approximately half of ICOs have got failed. However, around 1400 ICOs got published in the first three months of 2018. It means it is clear here that one in two people can trust you and they can invest in your project. You need to be very careful whether you are launching an ICO project or going to invest in it.
5. Every listing site is the same – Not True
On the Internet, you can come across a large number of ICO websites. Keep in mind all of them are not the same and useful. Some of those sites only list the projects while some go beyond listing and offer all associated information to investors. Ensure to go through reviews if you are checking an ICO site. Going through those reviews can support you comprehend how such a website analyze a project before listing it.
Besides the common myths mentioned above, I want to state some other myths to help you be aware of the project you will launch or invest. Here are some other myths:
Advisors Support You – It is also a myth. No one advises you at free of cost. You can google to avail the most of advisors’ knowledge. For ensuring your success, you need to find the right advisor who can give you real insight and support you. 90% of advisors claiming to be a super advisor join for a selfish reason. Before going ahead, talk to a lot of people and ask them for their commitments to your ICO project.
You can hand over the ICO leadership – It would be a big mistake if you trust your experienced friend to run your ICO project. I am saying this, as your friend can find a way for his benefit. You must avoid putting your plan in the hands of strangers.
Pitching ICO support you raise money – It may / may not help you. Here one thing is sure that it is highly expensive. Throwing your ICO for 5-10 minutes at a conference can cost you 5000- 1000 US dollars. Other guys would be waiting to present their pitches just after you and can kick you out. I know many organizers might promise you about the presence of hundreds of investors. You need to be very careful and do not get trapped in their promises. Schedule personal meetings with some of the interested investors. It can help you a lot in raising money.
Customers are ready to buy your ICO – It is very tricky. In general, the crypto community, professional investors and businesses bring ICO tokens. Around 90% of these are not the customers of your super platform. They just trade with your tokens and consider how fast you would be placed on exchanges. You need to get your customers, and you should have a solid plan for it.
Tokens and coins are same – Several people consider both tokens and coins as same. They use these both terms interchangeably. In fact, these two terms are different. You need to comprehend the fundamental differences between them if you are going to invest in it or launch an ICO. A token has more than one function and saves an array of value levels. On the other hand, a coin is one utility and saves only one level of value.
In brief, you have to be very careful whether you are going to launch your own ICO or to invest in one. For launching your ICO, you need to create a product, build a token, take legal advice, draft your white paper, create a community and place your token out for exchanges. Take these all steps very carefully.
Nowadays cryptocurrency has created a buzz all over the world. For those who dont know about cryptocurrency, cryptocurrency is nothing but a digital or virtual currency developed to work as a medium of exchange.
What can you do with cryptocurrency
Few years ago it is difficult to find merchants who accepts cryptocurrencies as there were only very few merchants. But nowadays the situation is completely totally different as there are number of merchants accepts cryptocurrency as a mode of payment both online and offline. Though bitcoin is the foremost cryptocurrency used as a mode of payment and for other transactions, other digital currencies like Litecoin, Ripple and Ethereum too widely accepted by many.
With the drastic growth of cryptocurrencies, it becomes one of the most trending investment opportunity. As many have already invested in the cryptocurrency business, still many people wants to step in to the cryptocurrency industry.
Though many already make big money through cryptocurrencies, one must be aware that risk associated with cryptocurrencies are high as their market value fluctuates. Moreover, it is not legal in many countries so there is also a risk of them getting outlawed.
So you should have the deep knowledge about various cryptocurrencies and cryptocurrency industry to avoid any loss of money. If you decide to invest in cryptocurrencies, Bitcoin must be your first choice as it is the dominant one. Just like any other businesses, you need to pay close attention to the cryptocurrency market value and to the news related to cryptocurrency industry. You should keep tracking the details like price, volume, market cap and many more of most existing cryptocurrencies.
Most common cryptocurrencies
Cryptocurrency mining is the process used to verify transactions and to add to the block chain. Additionaly, new cryptocurrencies are produced using a mining system mining process. Nowadays there are many bitcoin development companies which helps you in bitcoin development and mining process.