The wave of initial coin offering is increasing day by day and people are eagerly finding new ways to invest their money to amplify their earnings. But being completely digital in nature and uncontrolled by any regulating authority, there are more chances of scams and frauds.
But if we skip this aspect, for now, there are many other Initial coin offerings that are adhered with scams. So, what is the right way to keep your investment protected?
Avoid Fake Wallets: Your ICO always require to be kept in an online wallet, so this has become a major tool for the scammers to steal your investment. There are many Initial Coin Offerings that are sure about their wallets and recommend the same to the investors. Like Qpay is the platform where you can store the Quickone ICO and keep them secure with the help of QR Code technology. So, before you store your ICO in a wallet, ensure you have chosen the right wallet for your digital currency.
Be Aware of Fake ICOs: If you are a novice in the field of digital currency, you will not be able to distinguish between real and fake ICO in the market. With the increase in crowdfunding, people are not heeding the authenticity of the ICO’s. You must always check whether you are investing in the genuine Initial Coin Offerings or not. Introducing fake ICO makes it easy for the scammers to offer you fake ICO on behalf of your hefty investment. To verify, you should always check the endorsements and involvement from famous figures.
Research about Investment Opportunities: Before investing in the Initial Coin Offerings, most of the people avoid running a details research that results in complete investment wastage. There are many fake exchanges and brokers who claim to serve you maximum profit from your exchanges or investment but results in fraud. So, before any investment in ICO, run a thorough research about the investment opportunities. You can take help of online forums where plenty of information is available about the opportunities that you can find interesting.
Key Takeaway: Investing your capital in the Initial Coin Offering can be risky only if you avoid considering common points before investing. But if you are successful in finding the right ICO, you can easily earn good profit from your investment. You can take help of internet resources to get complete knowledge of ICOs
Always remember that whenever you invest in the ICOs, you are investing in unregulated trading products. It’s always advised that if you are well assured of your investment and have complete information about it, then only you must invest your capital in ICO.
So, what are your doubts about the ICO and how do you think ICO can be scammed?