Buzz
In 2018, the virtual currency scene was thriving in Vietnam, opening doors to various novel aspects related to digital currencies. With virtual currencies flourishing and growing rapidly like BitCoin (which once reached $17,000), they have become even more enticing to the Vietnamese. They begin seeking investment opportunities in Blockchain to generate profits. However, to profit, one must grasp related terms such as ICO, ICP. In this article, Software Tricks will explain what ICO is? Everything you need to know about ICO.
What is ICO?
ICO stands for Initial Coin Offering. It is a fundraising activity for Blockchain project investors to raise funds to maintain and develop their virtual currency. Specifically, investors sell cryptocurrencies in the form of tokens, and users can use these tokens to exchange for valuable cryptocurrencies such as BTC, ETH, or cash. When users have these tokens, they have full control, which will be the product that users receive. You can sell it to others or exchange it. ICOs are conducted before virtual currencies are officially listed.
Each Crytopcurrency will have multiple Token sales, and these sales are referred to as Crowdsales. Each Crowdsale typically lasts from 1 week to 1 month and offers very attractive prices to attract investors. Crowdsales will cease when the project owners believe they have raised enough funds and achieved their goals.
Everything you need to know about ICO
Risk investmentSome investors participate in ICOs and become millionaires when the cryptocurrency is listed and its price exceeds expectations. Conversely, others suffer significant losses. For example, Regalcoin ICO was priced at $0.8, but when it was listed, it reached $20. That means if you invested $1 million, you would have $2.5 million, a 250% profit. However, not all cryptocurrencies perform this way after listing. If you've faced numerous failures and garnered ample experience, finding success through ICO investments becomes effortless. All it takes is a keen market analysis, assessing the investor's credibility, especially if these coins have reputable backers.
If you've faced numerous failures and garnered ample experience, finding success through ICO investments becomes effortless. All you need to do is analyze the market, assess the credibility of the investors, especially if those coins have major backers.
Through this article, Software Tricks has elucidated what ICO entails and everything you need to know about it. Wishing you all success in your ICO ventures.
