Tips for Investing in Initial Coin Offering (ICO)
The cryptocurrency craze continues to fuel investor appetite for digital currencies, even as some hedge funds grow wary of the asset class. While Bitcoin’s extreme volatility may plague some investors, some are using the current decline as a buying opportunity, but not necessarily Bitcoin. Bitcoin is the most prominent face of the current phenomenon, but according to Forbes , initial coin offerings (ICOs) exploded in 2017, raising nearly $5 billion. Some of these offerings give investors potentially good traction in this new and often poorly understood asset class without the huge outlays required to invest in Bitcoin. It provides an opportunity. Unfortunately, the growing popularity and awareness of altcoins have also fueled various scams and outright criminal activity. Meaning of ICO An Initial Coin Offering is the issuance of a new coin, a type of digital asset. ICOs can introduce new cryptocurrencies, but these are often created through a separate process called mining. ICOs w