BEWARE THE ICO

Should you invest in an ICO (Initial Coin Offering)?

Short answer: Probably Not.

Why?

[Don’t worry there are some positives at the bottom of the article.]

Many of them are scams.

Some unscrupulous swamp creatures are taking advantage of unwary newby investors to generate large sums of money for themselves with nothing substantial behind their products.

Governments around the world are now banning ICO’s in the name of protecting their citizens.

This could possibly lead to over regulation of the whole ecosystem.

It would have been better for the crypto currency world to self regulate, however, this seems problematic.

After the ICO, many tokens cost less in the trading rooms than the initial purchase price.

If you join some #slack channels be prepared to be inundated with spam emails asking for your money.

Some ICO’s are now asking for KYC (Know Your Customer) information.

The risk is the more databases you have your personal details in, the higher the chance of them leaking and being used for identity theft and fraud.

If it sounds too good to be true, it probably is.

In the short term there is rarely a such thing as a missed opportunity.

When should you invest?

You are aware you can loose money, and can afford it.

You have thoroughly researched the offering.

You believe in the product, team, etc.

You want to be involved in the development.

You see value in the product.

Do your due diligence and research, as there may be a few good ones out there from time to time.

Fell free to comment, critisize, or agree.

Happy trading and investing!