The Concept of ICO- The Gold Rush
The latest in the cryptocurrency world is the coin offering that has become a popular way to increase the funding for further research. Mining of the biggest digital coins that has been setting a firm ground and establishing itself as a parallel economy today is the virtual reality, people are embracing. The idea to pre-sale coins even before they are mined sounds to be a crazy idea, however, there are millions of dollars that are pumped into this new application.
The future of fundraising has reached greater heights, using the people’s fiat currency to be converted into the high on demand cryptocurrency and stored in the crypto digital wallets.
Since Cryptocurrencies have been in use for nearly a decade now, the ICO started somewhere from the year 2015, and investors are offered some units of a new cryptocurrency or tokens against the exchange of the base coin currency like Bitcoin, or even fiat currency. This ushered the creation of new cryptocurrencies that have more than 1100 coins in the digital world.
While the popularity of the coin currencies is on the rise, many of them have made huge profits by selling their cryptocurrencies other than the base currency. The crowd-funding concept has worked well that the more than $20 million were raised and served, as a base for the development of Ethereum, the first ever crowd-funded ICO.
Buying coins from the ICO is simple, as it is easy for trading online in the Crypto Soft trading platform, so is the transfer of the ICO tokens to others, it is advisable to read through the Crypto Soft Review and then proceed for investing, a lot of scams are unfolding in this sphere.
- the Initial Coin Offerings fuelled the potential of other coin currencies to seed the funds and create smart contracts for purchasing, selling and transferring the coins through digital wallets easily
- the coins issued or tokens issued have their own market price in the crypto exchanges that can be traded against other currencies or converted to fiat currency
- as the blueprint of an ICO is highly regulated by the SEC, there are a lot of conditions that the ICO offered has to adhere, the concept is similar to the IPO offered by the traditional stock markets
- The procedure to participate in the ICO is simple, transfer ETH-Ethereum coins to the IC O offering company, paste the smart contract in your wallet, and then the tokens automatically appear in your account, that can be easily transferred.