How to Get Started With ICO
- October 20, 2018
- Posted by: admin
- Category: CRYPTO NEWS
In knowing the ICO to invest in, it is of great essence to understand what it really is and what situations can predispose a user to an ICO listing.
An ICO, also known as An Initial Coin Offering (ICO), is the cryptocurrency space’s rough equivalent to an IPO (it differs from this in that in IPO, investors own shares in the company)in the mainstream investment world.
ICOs act as means of some sort of fundraising; an organization seeking to create a new coin, app, or service launches an ICO. After that, interested investors buy in to the idea/plan, either with fiat currency or with preexisting digital tokens like bitcoin or ether.
In return for their support, investors receive a new cryptocurrency token specific to the ICO. Investors hope that the token will perform exceptionally well in the nearest future, affording them a bountiful return on investment.
The company holding the ICO makes use of the investor funds as a means of achieving its goals, launching its product, or starting its digital currency.
ICOs are used by startups to bypass the tedious and guided capital-raising process asked of by venture capitalists or banks.
In simple terms, it is a process of sourcing for funds for an idea or products generated by a company and getting investors to buy into the idea and in return they are given ICOs which they hope will yield great profits for them by the time the idea or product becomes accepted in the market world and booms.
The first ICO, or initial coin offering, was launched in 2013 by Mastercoin. They met with relatively early success, raising a total of $500,000. Today, ICOs are a $3 billion business with the record for highest earning project sitting with Tezos at $232 million raised in 13 days.
ICOs have quickly dominated attention in the cryptocurrency and blockchain industries, yet, they come with their fair share of problems, risks, and unforeseen opportunities. Investors buy into ICOs with the hope of rapid and strong returns on the investments made.
Some ICOs have been largely successful over several years and as such arms investors with reasons to keep this hope, as they have not failed to produce tremendous returns. However, the enthusiasm on the investor’s part has led people down the wrong path.
Due to the fact that they are largely unregulated, ICOs have become somewhat of a network of frauds and scam artists, looking to prey on investors who are passionate, eager and less-knowledgeable.
The good side, however, is that selling of your ICO coins to interested investors will not only give you a means of generating the capital needed to boost or start up the business idea but it will also turn the investors to propagators of the business idea because for there to be a value of the coin bought and ultimately, a good return of their investment, there is a need to sell the business idea to the large world and the best people to do this are those who have something at stake and would not like to lose out, therefore, they publicize and market the idea because the more people buy into the idea and actually makes use of it, the more it is being reckoned with and there is an increase in value of token.
An example of reputable ICO are discussed below:
In a nutshell, Talenthon has designed and built a state of the art ecosystem that technically evaluates candidate’s skills, validates their CVs and checks their references all powered by cryptocurrency, their talent coin, using Blockchain and Gamification Technology.
Verifying CVs is a tedious task for employers and without investing expansive efforts and money to evaluate and appraise every candidate that an employer wants to employ can turn into a challenging and arduous task.
Providing employers with a trustable, precise and a solid blockchain-based record of a potential candidate’s education, skill performance, training and even work-related references could change the face of the recruitment industry and make the process seamless and easy.
Making use of the Talenthon’s platform could potentially deplete the weight on data-heavy processes, like administration and onboarding, and it would further intensify fraud prevention all the while reducing the clutter from sham CVs. These are highlighting just a few of the advantages that a blockchain-based record can produce for the recruitment industry.