Last summer we saw an incredible number of businesses and startups that gathered fundings via ICOs. This led to raising a total dollar amount in ICOs of over billion dollars. Today, with the increasing demand, many new businesses want to raise as many funds as they can without the hassle and operate a successful business. This is why is very important for beginners to understand the meaning and the use of ICOs.
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1. What Is an ICO?
It basically means crowdfunding. Raising funds this way means releasing a new crypto coin and funding the project through it. You can find more than a thousand coins on many different exchanges. Remember, not all cryptocurrencies have their own blockchain. Most of the tokens are placed on an Ethereum blockchain since its for a general purpose.
2. ICO Advantages
One of the many advantages and maybe the most important one is the ability to avoid banks approvals. Using that old traditional method takes a lot of time and a lot of money. When investing in ICOs, you have a great deal of returns possibility but keep in mind that it is also a risky investment. Most importantly, you get a high possibility of making a big profit.
3. ICO Exchanges
If you would like to sell or buy ICO, you can do so on an exchange. It works just as any exchange for Bitcoin for example. Here are a few suggestions: Ether Delta, Bittrex, Poloniex and Binance.
4. Where To Start
Ethereum is a leading cryptocurrency that got familiar with the ICOs and now it’s the most favourite platform for many users. Ethereum raised more than 20 billion in its own I CO. It’s no wonder why Ethereum is leading in terms of market cap. Another successful ICO this year was Bancor raising more than 100 million.
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