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Spotting Scammy ICOs Before Parting With Crypto Coins In Crowdfunding
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Spotting Scammy ICOs Before Parting With Crypto Coins In Crowdfunding

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Crowdfunding
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Crowdfunding has become a popular means by which businesses get funds to start a business. However, the rising popularity of bitcoins has led to a new method of crowdfunding called Initial Coin Offering (ICO) that is different to the standard financial system that the market is used to.

What is an ICO?

Before going into the details of how to identify ICO scams, it is first important to understand the concept of an ICO. It is basically the crowdfunding that we all know but the difference is that ICOs are carried out through cryptocurrency. It is currently becoming very popular because it presents a new method for individuals and companies to fund their projects.

ICOs are advantageous because they have an easier and more efficient process compared to the traditional methods of crowdfunding. ICOs last about one or two weeks and sometimes even longer. During that duration, individuals and companies get to purchase tokens issued through the crowdfunding in exchange for cryptocurrencies such as ethereum or bitcoin.

Fake ICOs

ICOs have been growing more popular especially with the surge of major digital currencies such as Bitcoin. This highlights the fact that they are more efficient and easy to use for crowdfunding purposes. Numerous ICOs were launched about a week ago and this demonstrates just how popular ICOs have become. However, this has also led to new threats such as scams despite the allegedly secure nature of blockchain technology.

Generous bonuses

Investors view very new ICO that becomes available as a potential goldmine which means it could be the next big thing. This is because some major firms such as Uber or Airbnb got to where thy currently are through crowdfunding. For this reason, most investors are after the best bonuses that they can get through crowdfunding projects.

Most of the bonuses issued through ICOs are often based on the total investment and so investors sometimes pursue bonuses that are as high as 90 percent. These bonuses are thus an incentive for investors and so some scammers want to take advantage of this by offering generous bonuses. This is one of the tell-tale signs that an ICO could be a scam. Investors should thus avoid deals that seem too good to be true.

Adequate background checks

Scammers are often clever and often times end up being as good as the real deal. This means it is difficult to tell the true ones from the fake ones. It is thus important to employ other security measures. One of those measures should include an elaborate background check of the founders of the ICO to determine whether they have a good track record.

Legitimate founders will most likely have their footprint in other key areas thus meaning they can be trusted. It would not be a good idea to invest in a crowdfunding project whose founders have no prior experience in the field that they are venturing.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Rocio Lara via Flickr

Bitcoin

Why Bitcoin (BTC) Revival is Likely to Continue

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Bitcoin (BTC) revival
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The cryptocurrency market has been doing rather well in 2019 — certainly much better than in 2018. More than a year ago, the market crashed from its all-time high, and in the months that followed, it lost over 80% of its market cap. Bitcoin (BTC), as the leading digital currency, also dropped from $20,000 per coin to barely $3,200 in 2018.

These days, however, the situation seems to be turning, with digital currencies seeing significant growth in prices ever since mid-February. While January stopped the drops, February is the month when the market once again started seeing gains, and this kind of behavior has continued to this day. But, what does this mean for the future? Is this a passing trend, or is the crypto winter truly over?

The revival of Bitcoin

Questions such as the short-term future of Bitcoin are on many traders’ and investors’ minds right now and have been ever since the prices started growing again. A well-known Futures Now trader, Jim Iuorio, recently stated that Bitcoin would start seeing massive profits if it surpasses the price of $4,045. That was, of course, before the coin surged by around $1000 in the last week.

However, Iuorio’s prediction was that BTC is unlikely to go below $3,820, while the growth beyond $4,045 would mean massive gains for those involved with the industry. Soon after this prediction…

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Bitcoin

How to Become a Millionaire without Risking Everything with Bitcoin

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Bitcoin
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It’s been well over a year since the crypto market reached its peak and then crashed, dropping to such lows that most of the coins lost anywhere between 80% and 95% of their value. A few of them lost even more. Of course, this was not enough to eradicate the crypto market, and the bulls are still as optimistic as ever, especially these days, when Bitcoin price surges again, taking the rest of the market with it.

Some predictions claim that Bitcoin will reach its own glory days within a year or two, and there are even speculations that the largest cryptocurrency might spike up to $100,000 per coin. One claim from last week even sees BTC hitting $400,000, as the highest price which someone was brave enough to predict.

While it is certainly possible — at this point, pretty much anything is — not everyone is willing to take such a gamble and invest their hard-earned money into a risky asset such as digital currencies. With that in mind, here are three alternatives that are considerably safer than Bitcoin and the altcoins.

1. Investing and re-investing in stocks

A lot of people — especially younger generations — find stocks to be incredibly boring. Most of the time, all you do is invest, and use the returns for re-investing in high-yielding shares. However, while boring will not…

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The Best Time to Buy Bitcoin (BTC) Approaches

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Buy Bitcoin
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Ever since 2019 started, the bear market of 2018 has been losing momentum, with the bulls emerging numerous times in short intervals. This was the beginning of a crypto recovery, which still has quite a long way to go.

However, last week, Bitcoin saw massive growth in transactions, reaching a 14-month high. These were the levels that were previously seen back in 2017, as BTC approached its highest point in terms of price. The growth also reflected strongly on BTC price, which spiked yesterday from around $4.100 to the current $4,672.

Meanwhile, Bitcoin market cap followed as well, currently sitting above $82.3 billion, while the trading volume exceeded $14.5 billion.

What caused the growth?

While this is an exceptional growth, and potentially a start of the bull run that everyone was waiting for, it did not come without a cause. One of the reasons why BTC surged was last week’s Weiss Ratings report of multiple different cryptocurrencies. The report’s authors even stated themselves that the best time to invest might be very near at this point.

Weiss Ratings has done reports about specific coins in the past as well, and this time, they noticed a significant improvement in coins’ performance. The report mentions growth in user transaction volume, network capacity, as well as network security, which the authors took as an improvement coming from the evolution of the…

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