[Sticky] How to Benefit From Crypto Currency Through Initial Coin Offering (ICO)
Ever since Bitcoin, the first cryptocurrency was launched in 2009, more than 4000 cryptocurrencies have already been launched until the end of beginning of 2021. That is according to Coin Market Cap. In order to benefit from newly launched cryptocurrencies you should participate in ICO>
What is ICO?
An ICO or Initial Coin Offering is an unregulated means in which some amount of the crowdfunded digital currency is sold to financial specialists as “tokens”, in return for different cryptographic forms of money, for example, bitcoin or ethereum.
How to profit from ICO
People use different strategies to profit from ICOs. So let’s discuss some important factors which should be kept in mind.
Time: The cost of coin increases within the first six months. So, build a team and be patient.
Sell At High Price: Trade your ICOs while buying at low price and wait until the price increases.
Strategy: Just contribute the amount that you can stand to lose.
Research: Do research about ICOs and keep an eye on your tokens.
Sell 30%, Save 70%: Sail with the tides are high. In other words, sell your coins when the price goes up. Sell 30 percent of your tokens and recover a portion of your venture. And hold the rest of the 70 percent for a few months for bigger profits.
In the cryptocurrency world, we also hear a lot about ICO, Initial Coin Offering, or Initial Currency Offering. Cryptocurrency is getting more into the mainstream. We even hear about Central Bank Digital Currency (CBDC). However, scamming is very common in the cryptocurrency world. In 2018, it was found that most of the ICO launched in 2017 were scams.