So Is An Initial Coin Offering (ICO) Real? Is It Fake?…
Cryptocurrencies and Initial Coin Offering (ICO) that emerged with the development of blockchain technology have become very popular in recent years. People want to be less affected by the global economic crisis that will occur in the coming time. At the same time, the cryptocurrency markets are attracting people’s attention due to the possibility of rapid gains. Since most people do not know this technology well, they do not know which cryptocurrency and Initial Coin Offering (ICO) to invest in and are often defrauded. Currently, there are thousands or even hundreds of thousands of cryptocurrencies and Initial Coin Offering (ICO) on the market.
So is an Initial Coin Offering (ICO) real? Is it fake? How do we decide?
Cryptocurrency and initial Coin Offering (ICO) are open to abuse because they are not protected by governments and an international organization and are not controlled by certain laws. Because of this situation, scam projects emerge. It is the Initial Coin Offering (ICO) and cryptocurrencies presented by taking advantage of people’s blockchain technology knowledge gaps.
How to understand the Scam Initial Coin Offering (ICO)
First of all, a very good research should be done. Is there a web page of its own, who is the project team (CVs), road map (whitepaper)? What does it say? These need to be confirmed from various sources. Later, is this Initial Coin Offering (ICO) traded on any stock exchange? Is there any news about this cryptocurrency on reliable news sites? Is there a bit contract address of this cryptocurrency? can you check it from etherscan.io? If you cannot get a sound information as a result of this research, Initial Coin Offering (ICO) is a scam project product.
Team
Any Initial Coin Offering (ICO) and cryptocurrency are the developers and administrative team of the project. Researching individual team members of a project before investing. For example, is there information about the developer or founder on Twitter, LinkedIn or other social media? People who are present but haven’t interacted with their followers and still have thousands of fans may not be real.
Whitepaper
An Initial Coin Offering (ICO) and cryptocurrency whitepaper is the core document of this project. The whitepaper should lay out the background, goals, strategy, concerns and timeline for the implementation of any blockchain-related project.
Token
Any Initial Coin Offering (ICO) will be tied to a token or currency system to facilitate the crowdfunding process. Legitimate companies and efforts make it easier for potential investors to see the system itself and the progress of the token sale. Look at the token sales figures as the Initial Coin Offering (ICO) continues.
Reality of the Project
Successful Initial Coin Offering (ICO) and cryptocurrencies are different from their competitors. It should be a transparent project that can be reached, has feasible goals.
It should keep potential investors up to date with regular, detailed progress reports posted on a company’s website or on social media.
Contains introductory information about ICO projects coinmarketplus, icohotlist, icodrops, topicolist
Result
Decentralized cryptos have unique features such as a public, transparent ledger and an open source code that anyone can see. There are no scams and ponzi schemes. Good research should be done to avoid falling into the web of fraudsters. More importantly, it is necessary to have knowledge and experience about how cryptocurrencies and Initial Coin Offering (ICO) work and blockchain technology. As I always said, Listen to everyone, decide for yourself …
