ICO 101: tips to know before investing in any kind of crypto offering

Crypto ICOs, short for Initial Coin Offerings, have become a popular but often risky way for new cryptocurrency projects to fundraise. Here's how an ICO typically works - the startup behind the project releases a whitepaper, which explains what their concept is supposed to do and why it's useful. The goal is to generate hype and get people excited enough to invest in the ICO by purchasing the project’s tokens. Owning the tokens allows investors to access the project's features and by holding them participate in projects achievements and making profits when goals are reached and token price goes up . On the surface, ICOs seem like a great innovation to help legit crypto projects launch and get off the ground. But they've also become a magnet for scams and shady behavior, unfortunately. Scammers have caught onto the hype around ICOs and created bogus whitepapers for made-up or exaggerated crypto projects just to rip off investors. They make unrealistic promises about returns to pump up demand. Once they hit their fundraising targets, they take off with the money raised, leaving hopeful investors who got these worthless tokens. Since ICOs aren't regulated properly by now in us and almost all other countries , these scams have exploded. Investors often get excited about crypto and forget to do their research on ICO projects before buying tokens. The temptation of getting rich quickly also clouds judgment. While not every ICO is scam or fraudulent, they are super risky. Investors should approach with extreme caution , do tons of due diligence, watch for red flags, and remember :There is no elevator to success, you have to take the stairs. Now let's take a look into some of these new tokens and see whether we can detect their legitimacy with simple research and just by checking easy facts but critical about them The very first thing we should always check and consider when we are going to learn about these projects is their whitepapers. Analyzing new cryptocurrencies and ...