Keep Away From Ico’s (Initial Coin Offerings)
So what is ICO (Initial Coin Offering)?
An initial coin offering is similar in concept to an initial public offering (IPO), both a process in which companies raise money, while an ICO is an investment that gives the investor a crypto coin, known as a coin or a token in return for investment.
Ever since the birth and the growth of the crypto/blockchain echo system, there has been a growing amount of tokens/coins. Most have started as ico’s (Initial Coin Offerings) since Ethereum other platforms came into existence.
With this a lot of scammers and worthless coins/tokens entering the echo system promising big returns, promises and unachievable agenda’s. This is another form of corruption within the crypto world.
I will admit there have been some good projects that have come out too. I will not name them as I wish to not to advocate a/any particular token or coin.
Having said that there have also been many Youtuber, Twitter and other individuals and groups that shilled these ico’s to their viewers whilst making some form of income for themselves and burning the new, naïve and get rich quick people.
In the early days and years most ico’s raised millions and some got in and made a lot of money.
But since 2017 ICO’s have become potentially dangerous to invest in and many are failing.
Not only have they hurt people, investors, crypto echo system but also Ethereum, Which has coped a lot of criticisms.
Now that the Sec is looking into ico’s they have also have started to investigate even shut down some ico projects.
If you decide to invest in ico’s please do your research very well.
My opinion, just keep away from them.
I personal opinion, I am an Eos holder and am receiving many airdrops. Most have wonderful projects and have a future and they are free.
And I am sure most will prevail.