Has Poloniex Started Stealing User Funds?
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Has Poloniex Started Stealing User Funds?

Lorena Boanda - November 3, 2017
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What is an ICO?

If you are an avid user of cryptocurrencies, I am sure that you heard of the term ‘ICO’. This is perhaps one of the most popular and most widely recognized form of investment option when it comes to cryptocurrencies.

Short intro about coin ICOs

ICO is a short abbreviation of the words ‘initial coin offering’. It is a derivative of the term we use in stock markets with the name of ‘IPO (initial public offering)’. Hence, ICO (initial coin offering) is a phase in which developers of a coin initially distribute their coins prior to their official launch. This is to stabilize its market upon the official launch of their cryptocurrency.

The cryptocurrency ICO speculation part

Speculations play a big part in setting the value of cryptocurrencies. In fact, most of their values are purely made from user/market speculations as with the cryptocurrency’s promise to deliver their own unique technologies or solutions.

Many new cryptocurrencies – altcoin, digital asset, tokens – appear every day. You can participate in ICOs by creating an account on the coin’s ICO page and depositing your Bitcoins – or other altcoins e.g. Ethereum – to the platform. You will use the base currency (usually Bitcoin or Ethereum) to purchase the coins. After you receive your cryptocurrencies and the owners officially launch and distribute the coins, you can sell your assets.

Successful existing ICOs

Some of the successful ICO coins to date include various popular cryptocurrencies such as Ethereum, Lisk, Boscoin, etc. On the day of the official launch, the value for these coins may increase significantly ranging between 10% – 1000%. It is however crucial to do your own research before investing in an ICO cryptocurrency.

Researching about the developers, the platforms, roadmap, and the community before investing is crucial. This is because a lot of fraudulent cases are linked to ICOs. In fact, many governments around the world are making efforts to regulate these activities.

The most important thing to acknowledge when it comes to investing is to understand your risks. Do not let greed overtake your ability to decide but be sure to invest smartly in the most profitable investment option available.

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