The market is full of whirring sound of Cryptocurrencies, Bitcoin, Zcash etc…in between these words there is one more new word i.e., ICO. Being part of crypto all of you must want to get updated about ICO as well. So, here I’m explaining each and every detail of ICO.
ICO or Initial Coin Offering is a technique of raising fund initially by applying the capital in exchange of cryptocurrency for a new project. Now, some of you might be misunderstood this with IPO. IPO or Initial public offering is selling of stock by the company to the people.
Before beginning, there are few things that you need to keep in mind when raising fund for an ICO such as is it safe to invest? Everyone wants to keep their money protected. Why would someone invest in a startup or a concept when there is always a possibility of 50-50?
Never ever forget to do research on a company. There are countless sources available on the internet which issue proofs and validities. Social proofs, reviews, and publications help you out in making a decision.
As we all have heard that the liar always have a fear of truth but the genuine one doesn’t even care. The same thing goes here as well, a true company will never avoid showing their identity while the fake one will give a number of excuses or avoid showing their background.
The next thing is obvious, you always think of spending money on the most profitable company. It’s just so simple, choose the company who is offering more coins. But it doesn’t mean to choose the community whose words are floating or doesn’t have a voice in the market.
Use your mind is the thing we keep saying every time. But how many of us do it really!! Not more. Never get influenced by the people. Plan a roadmap and follow it. Because your own research makes you believe in your decision.
You need to leverage a blockchain first to become a smart trader. The concept of digital currencies is new and many are still mired in the technicalities of a blockchain. Therefore, if you are naive to the blockchain but want to invest in crypto just like an early investor, you need to dig deep into what a blockchain is all about. Although there are many publications, blogs, webinars, and research papers, which can clear basics but going into core requires a handful knowledge,which you can gain through blockchain course and certifications. Let’s start building crypto account:
The first step is registration which is similar to any other applications. You have to fill name, number, account name, password, and any other required credentials.
The second step is validation– A user receives an OTP to verify all the credentials filled by him/her. After validation, you can check numeral tabs which consist of different data such as your profile, your wallet balance. In the initial phase the wallet balance will be zero because you have just created an account. So to start buying coins you need to add balance in your wallet. For that, you have an option available of adding/ connecting to your bank account (for money addition in the crypto wallet).
You can also check the value of each coin given by the company. It starts with the maximum peak of a price. Select or decide accordingly from which company you are going to buy. You can also check the real-time rate charts.
If you have decided on the company, the next step is to transfer the money to that platform. Whereas, you can transfer it to any crypto platform.
In the last step, Purchase- There is no proper step which you have to follow. Usually, this is done by your application server. Once the cryptocurrency is sold then only you are capable of buying foreign currency.
The final stage is Receiving– In this step the user receives the original currency in their added account. Also, it depends on the choice of the user to raise their fund again.
Just now you have learned how to create and how to use it as a fundraiser. So, use it wisely and intelligently. This can give you an incredible amount or vice-versa as well.
ICO is a new trendsetter in the world of the financial market which is 100% safe due to its innovation. The major part of an ICO is collected by the BTC and ETH. The ICO is a kind of ledger which is later shown at the different platform of individuals such that they can send amount easily.
It may take your amount in the beginning but later on gives you double, triple or more. ICO can make your mind open up for the world because of its functionality, creativeness, and development.
Hence, you can easily judge how vast is the market of cryptocurrency.