ICO (initial coin offering) is basically a new way of crowdfunding that is powered by cryptocurrency. Crowdfunding is a very concept over the years as another option to fuel ingenuity and innovation without the backing of a big corporation or a big investor. Crowdfunding empowers people with the vision, to make their dreams possible and there are already a ton of platforms where people can go and get funded. ICO is not different in concept.
With the emergence and popularity of bitcoin, it’s already expected that there will be companies that will use it as a backbone or the foundation for their business. This is the reason why many companies are rooting into ICOs for them to get the needed funds that they need. The common ones that do ICO are bitcoin mining and trading platforms.
Why it’s growing: Cryptocurrency like Bitcoin, Satoshi, Etherium and many more are these new currencies that are slowly being recognized worldwide, proof of that are its presence in online trading like Forex and there are already e-commerce sites that accepts it. That is why there are various companies that want to be in it and use it as means to gain profit.
There are scams: The fact is that there are scam startups out there that has a good laid out concept but doesn’t deliver and in all truth it was just all a sham and since ICO still isn’t a very secure crowdfunding option there will be many people that will take advantage of it. This is the reason why there are many groups that want ICO to self-regulate itself and create this standard for this growing industry. This is also what many experts are stating why ICO is not growing rapidly as it should.
Why you need reviews: With all the scams that are out there, it’s important that you need to know everything about your potential investment. The best thing that you can do before you invest in something is to do some research and know what you can. It doesn’t matter if you’re just investing a few bucks or a thousand, its still your hard earned money. Money doesn’t grow on trees, this is why you need to learn what you can. If you are still in doubt, you could contact that company and ask for an assurance.
ICO (initial coin offering) is this new way of crowdfunding that is powered by cryptocurrency. Its a way for individuals and companies that has a vision in putting up a business that is cryptocurrency driven into a reality. This breaks the tradition where business seeks sharks or companies to invest in them, today they are more empowered thanks to ICO. But not every ICO is legitimate, it’s still an unregulated industry that has scams written all over it, this is the reason why there are organizations and individuals that want ICO to self-regulate and provide a safer platform for investments. If you want to find a credible ICO, you still need to do your legwork and do some ICO reviews.