There is a lot of hype around ICOs (initial coin offerings) and cryptocurrency as a hot topic for both professional traders, as well as individual investors looking for their next great idea. However, if you’re in the market for more traditional ways of iGaming promotion making money, then it might be time to consider cryptocurrencies your enemy.
When you conduct an ICO, you are selling coins that represent ownership of the company. You might think this sounds like a great idea since your new coins can appreciate in value over time – but these can also decline in value just as easily. Your investment could very well plummet or become worthless overnight when there is an issue with the company or project.
1. Exit Scams
We all have heard about the exit scam stories involving Bitcoin and Ethereum. Millions of dollars were lost through these scams, and it’s only gotten worse since. It’s important to note that ICOs are a new way of scamming people. These scams are more complicated, but they’re still very common in the industry.
2. Investors Overpaying For Coin Values
When you buy ICO coins, you don’t actually own any equity in the company or project – you own coins and tokens which are simply pegged to the company’s shares – meaning they trade on exchanges like regular stocks. If you want to get started with cryptocurrencies, I recommend BetMoose Sportsbook . It’s a reliable, fully-featured bookie for manaul outreach. You don’t want to miss out on profitable sports betting opportunities just because you’re too lazy to do the research needed to find a reliable bookmaker.
While it might seem like adding value with your ICO is an easy way to make money, it doesn’t always work that way. When you issue tokens as part of an ICO, you’re adding value by giving investors something they can actually buy on a cryptocurrency exchange. But if they don’t know what they’re buying and believe the price will go up over time, then they will overpay for the token instead of simply buying at the current market price.
3. It’s Complicated
Don’t get overwhelmed by the complexity of ICOs. It sounds like the perfect way to make money, but it can be tricky if you don’t know what you’re doing. I recommend that you stick with cryptocurrencies and look at other ICO options before conducting any yourself. Guest posting sites are here.
There are plenty of legitimate and profitable ways to invest in cryptocurrencies without doing an ICO, so don’t let hype or desire for quick profits get in your way. That being said, if you’re looking for a fast and easy way to make money online using cryptocurrency as a foundation, then consider conducting an ICO yourself. There are plenty of platforms out there that can help guide you through the process smoothly.
4. You Don’t Need An ICO
At BetMoose Sportsbook , you’ll only need an address to deposit funds when you place your bets, as well as a username to access our sportsbook. This is how BetMoose has been able to offer its first-class betting experience at a fraction of the cost of operating a union bookie.
5. Coins Are Highly Volatile And Risky
If you want to get into the cryptocurrency game, I recommend that you start with Bitcoin, then look at Ethereum and then move onto other coins. Why? Because they are all quite volatile right now and that makes them risky investments if you don’t know what you’re doing.
If you’re an experienced trader, then please share this article because the more people who start thinking about cryptocurrencies as a risk-reward opportunity instead of an easy way to make money, the better. Disclaimer: The information provided in this article should not be taken as legal advice or relied upon for any purposes without obtaining professional legal counsel. The author does not assume and/or accept liability for any position taken as a result of reading these articles or using the attached links.
6. Comes With A Lot Of Baggage
Cryptocurrencies are getting a lot of bad press lately because of their association with various scams and scandals. They are also the subject of several regulatory battles across the globe, which means that it’s not easy to safely conduct business in this area. Furthermore, there’s a lot of confusion surrounding why they have value in the first place, which makes it easier for people looking to exploit others to sell overpriced coins based on lofty promises.
7. It’s Complicated
Don’t get overwhelmed by the complexity of cryptocurrencies and crypto igaming. It sounds like the perfect way to make money, but it can be tricky if you don’t know what you’re doing. I recommend that you stick with cryptocurrencies and look at other ICO options before conducting any yourself.
While it might seem like adding value with your ICO is an easy way to make money, it doesn’t always work that way. When you issue tokens as part of an ICO, you’re adding value by giving investors something they can actually buy on a cryptocurrency exchange. But if they don’t know what they’re buying and believe the price will go up over time, then they will overpay for the token instead of simply buying at the current market price.