Topic: why don't ICOs accept fiat? (Read 372 times)
There are some ICOs that accept fiat but most of them accept Bicoin and Ethereum
Due to the composition of some Stable coins they can facilitate fiat acceptance in ICOs.
AAA reserve coin is an ERC20 compliant asset-backed cryptocurrency - collateralised by cash, gilts and AAA-rated credit investments. Proceeds from the issuance of AAA coins are placed into Arc Fiduciary Ltd - a ring-fenced Jersey-registered company - and invested into cash, gilts and fixed income; across multiple fiat currencies to support the value of AAA coins.
This composition is mainly for our aim of having real value stability but has other advantages.
AAA reserve Currency can add value by serving as a medium for ICOs, allowing fims to accept a wide range of fiat as well as cryptocurrencies without the need for bank accounts; this should increase their ICO sales and increase relative perception.
This is because AAA Reserve is backed by a large range of fiat meaning that it can accept and be exchanged for a large range.
AAA can be used either via white label or directly through sending AAA and in doing so offer to conduct KYC/AML on their behalf to comply with regulatory requirements.
Furthermore, for ICO partners who want to preserve their proceeds as AAA and want to pay expenses such as rents or salaries in local currencies AAA can facilitate this. (For international ICOs)
More information available on our website at www.AAAreserve.com or email us [email protected]
We are ready to bridge the gap between fiat and cryptos and provide this service now.
AAA reserve coin is an ERC20 compliant asset-backed cryptocurrency - collateralised by cash, gilts and AAA-rated credit investments. Proceeds from the issuance of AAA coins are placed into Arc Fiduciary Ltd - a ring-fenced Jersey-registered company - and invested into cash, gilts and fixed income; across multiple fiat currencies to support the value of AAA coins.
This composition is mainly for our aim of having real value stability but has other advantages.
AAA reserve Currency can add value by serving as a medium for ICOs, allowing fims to accept a wide range of fiat as well as cryptocurrencies without the need for bank accounts; this should increase their ICO sales and increase relative perception.
This is because AAA Reserve is backed by a large range of fiat meaning that it can accept and be exchanged for a large range.
AAA can be used either via white label or directly through sending AAA and in doing so offer to conduct KYC/AML on their behalf to comply with regulatory requirements.
Furthermore, for ICO partners who want to preserve their proceeds as AAA and want to pay expenses such as rents or salaries in local currencies AAA can facilitate this. (For international ICOs)
More information available on our website at www.AAAreserve.com or email us [email protected]
We are ready to bridge the gap between fiat and cryptos and provide this service now.
Looking at the question, congratulations on the question was a good observation, i believe in safety first and second as mentioned above, the tax rates are very high and this varies from country to country. Another factor that we can analyze is that with the purchase of another currency for exchanges in ICO or Ethereum, it drives the market generating flexibility in general.
Maybe because Fiat and ICO are not on the same page? Bank transaction to ICO requires a lot of stuff and exchange value is not stable as well. Securities and additional payment are something to be considered too since bank are bound by laws. ICO developers does not want any hassle from the bank when shit happens.
Ico dont accept fiat because of laws, by law you will need to pay 20% or something to government and because of that, nobody want to share their profit to random guys.
In my own opinion, ICOs will never accept fiat in exchange of their tokens during crowdsale in the sense that fiat transaction is way complicated and sluggish than using cryptocurrencies which is seamless and fast.
Pretty sure some ICOs owners don't wanna be found out through a wire transfer. 
Also taking transactions from a lot of people at once probably takes some work right?
Or they don't want to have a paper trail such as this individual if he turned his crypto into fiat would be liable for paying taxes on those earnings where he is from.Also taking transactions from a lot of people at once probably takes some work right?
https://twitter.com/crypto_sarah9/status/968451876063797248
Turing it into another crypto currency...
Well that is another story.
https://www.reddit.com/r/CryptoCurrency/comments/80l63k/50_cent_to_judge_i_have_no_bitcoin/
I've been researching ICOs and I'm wondering why no ICOs appear to accept fiat?
I understand credit cards have the issue of chargebacks, but since an ICO often distributes the coins at a later date, they could presumably issue the coins after the chargeback period has ended.
They could also accept checks, bank wires, transfers, Zelle, etc.
Since many people don't have access to cryptos, I would think accepting fiat would increases the chances of success for their ICO.
I'm assuming it must involve legal reasons such as upsetting the Securities and Exchange Commission, or the potential of being classified as a money service business (MSB) since changing fiat for crypto could put you in that category.
Since many ICOs appear to be either scams or little more than concepts with little chance of success, perhaps it's also to prevent burned investors from taking legal action later if the project fails, since they traded one token without intrinsic value for another token without intrinsic value instead of cash, thereby making a lawsuit more difficult in claiming damages, etc.
Is there anything I'm missing?
I understand credit cards have the issue of chargebacks, but since an ICO often distributes the coins at a later date, they could presumably issue the coins after the chargeback period has ended.
They could also accept checks, bank wires, transfers, Zelle, etc.
Since many people don't have access to cryptos, I would think accepting fiat would increases the chances of success for their ICO.
I'm assuming it must involve legal reasons such as upsetting the Securities and Exchange Commission, or the potential of being classified as a money service business (MSB) since changing fiat for crypto could put you in that category.
Since many ICOs appear to be either scams or little more than concepts with little chance of success, perhaps it's also to prevent burned investors from taking legal action later if the project fails, since they traded one token without intrinsic value for another token without intrinsic value instead of cash, thereby making a lawsuit more difficult in claiming damages, etc.
Is there anything I'm missing?
I think it is due to tracking issue that ICO developers avoids to happen. And also changing fiat into cryptocurrency would take fees and those fees would lessen the value of the token worth that they are buying.
I have seen ICOs to accept fiat. But this is probably for bigger investments.
Also, transfer in crypto is way too cheaper than transfer in fiat. Also, there is a loooot of paper work if the payments are in fiat. And there is a legal obligation between the two parties if the transfer is in fiat. Probably the last one is the main reason why most of the ICOs do not accept fiat.
Also, transfer in crypto is way too cheaper than transfer in fiat. Also, there is a loooot of paper work if the payments are in fiat. And there is a legal obligation between the two parties if the transfer is in fiat. Probably the last one is the main reason why most of the ICOs do not accept fiat.
Pretty much sums it up. It's just too inconvenient.
Also, doesn't it make more sense to invest in a crypto project with crypto?
I have seen ICOs to accept fiat. But this is probably for bigger investments.
Also, transfer in crypto is way too cheaper than transfer in fiat. Also, there is a loooot of paper work if the payments are in fiat. And there is a legal obligation between the two parties if the transfer is in fiat. Probably the last one is the main reason why most of the ICOs do not accept fiat.
Also, transfer in crypto is way too cheaper than transfer in fiat. Also, there is a loooot of paper work if the payments are in fiat. And there is a legal obligation between the two parties if the transfer is in fiat. Probably the last one is the main reason why most of the ICOs do not accept fiat.
In my opinion, if ICOs accept fiat, they would need to reveak their banking info and more identification which can cause problems not only to iCO developers but also put investors in severe problems. In addition, the ICO project will nit remain decentralized anymore because the time you are sending fiat, that means you are willing to be tracked by third parties
There are many ICOs out there which accept fiat payment.
I invested into VALID with Fiat. There was an pay by credit card option.
I invested into VALID with Fiat. There was an pay by credit card option.
In my own opinion since the ICO projects is about cryptocurrency then it's only natural to accept other cryptocurrency as a payments. Accepting fiat is too much hassle.
Almost all ICOs today are accepting only BTC and ETH but back in the days - ICOs were accepting investments mainly through debit and credit cards because most investors have not yet access with Bitcoin and Ethereum.
But now, there are still ICOs who do accepts cards but their main goal as soft and hard caps are BTC or ETH quantities so if we're gonna invest this year to any ICOs it would be easier if we'll convert them first into BTC or Ethereum than using our debit or credit cards.
The coin I'm building is designed to strip the 1% of their political power. The goal or intention is not to make money, the organization is to be a non-profit.
Where bitcoin is a meteor heading on a collision course with the banking sector, what I'm designing is meant to revolutionize our political system.
The mechanism for this is complex.
However, my intention is to build a more local community starting with the California bay area and get non crypto people involved.
Transactions and interactions, while they'll be in cyberspace, the idea is to have a lot of transactions and interactions in the real world also.
Thus accepting fiat in the ICO offers advantages since non crypto people are a large part of my intended audience.
And since reforming the political system is the goal, upsetting the people in power is a real possibility, so the legal issues are important including crossing the T's and dotting the i's.
I do wish we could reform the political system for free without the need to raise money, but unfortunately that is not realistic.
Where bitcoin is a meteor heading on a collision course with the banking sector, what I'm designing is meant to revolutionize our political system.
The mechanism for this is complex.
However, my intention is to build a more local community starting with the California bay area and get non crypto people involved.
Transactions and interactions, while they'll be in cyberspace, the idea is to have a lot of transactions and interactions in the real world also.
Thus accepting fiat in the ICO offers advantages since non crypto people are a large part of my intended audience.
And since reforming the political system is the goal, upsetting the people in power is a real possibility, so the legal issues are important including crossing the T's and dotting the i's.
I do wish we could reform the political system for free without the need to raise money, but unfortunately that is not realistic.
Most ICOs does only accept Bitcoin, Ethereum, NEO and other Top Altcoins because it's better and more flexible for them to get funds and it's the easiest way to to inventory their sales.
Soft and hard caps are mostly measured by BTC and ETH so investors should convert their money into BTC or ETH first before they could invest into ICOs.
It depends on every ICOs by the way because there are some also are accepting credit and debit cards as their mode of investments.
Soft and hard caps are mostly measured by BTC and ETH so investors should convert their money into BTC or ETH first before they could invest into ICOs.
It depends on every ICOs by the way because there are some also are accepting credit and debit cards as their mode of investments.
Perhaps the reason ICO is not using fiat money is a very difficult process. Compared to other Bitcoin and Cryptocurrency it is very easy to send money in the form of crypto for investment in ICO.
I've been researching ICOs and I'm wondering why no ICOs appear to accept fiat?
I understand credit cards have the issue of chargebacks, but since an ICO often distributes the coins at a later date, they could presumably issue the coins after the chargeback period has ended.
They could also accept checks, bank wires, transfers, Zelle, etc.
Since many people don't have access to cryptos, I would think accepting fiat would increases the chances of success for their ICO.
I'm assuming it must involve legal reasons such as upsetting the Securities and Exchange Commission, or the potential of being classified as a money service business (MSB) since changing fiat for crypto could put you in that category.
Since many ICOs appear to be either scams or little more than concepts with little chance of success, perhaps it's also to prevent burned investors from taking legal action later if the project fails, since they traded one token without intrinsic value for another token without intrinsic value instead of cash, thereby making a lawsuit more difficult in claiming damages, etc.
Is there anything I'm missing?
I understand credit cards have the issue of chargebacks, but since an ICO often distributes the coins at a later date, they could presumably issue the coins after the chargeback period has ended.
They could also accept checks, bank wires, transfers, Zelle, etc.
Since many people don't have access to cryptos, I would think accepting fiat would increases the chances of success for their ICO.
I'm assuming it must involve legal reasons such as upsetting the Securities and Exchange Commission, or the potential of being classified as a money service business (MSB) since changing fiat for crypto could put you in that category.
Since many ICOs appear to be either scams or little more than concepts with little chance of success, perhaps it's also to prevent burned investors from taking legal action later if the project fails, since they traded one token without intrinsic value for another token without intrinsic value instead of cash, thereby making a lawsuit more difficult in claiming damages, etc.
Is there anything I'm missing?
1. Most of ICO are rubbish, as a result they end as a complete failure.
2. U cannot just take money from people, promise them a big income, and then waste it.
3. This is called fraud and it leads to a criminal penalty in most countries.
4. Crypto is not regulated and such activity is not leading to any responsibility (however, this is very temporary).
Quote
I've been researching ICOs and I'm wondering why no ICOs appear to accept fiat?
Actually there is, for example, BAR, and many more.Quote
I understand credit cards have the issue of chargebacks, but since an ICO often distributes the coins at a later date, they could presumably issue the coins after the chargeback period has ended.
They could also accept checks, bank wires, transfers, Zelle, etc.
Since many people don't have access to cryptos, I would think accepting fiat would increases the chances of success for their ICO.
I'm assuming it must involve legal reasons such as upsetting the Securities and Exchange Commission, or the potential of being classified as a money service business (MSB) since changing fiat for crypto could put you in that category.
Since many ICOs appear to be either scams or little more than concepts with little chance of success, perhaps it's also to prevent burned investors from taking legal action later if the project fails, since they traded one token without intrinsic value for another token without intrinsic value instead of cash, thereby making a lawsuit more difficult in claiming damages, etc.
Is there anything I'm missing?
Maybe legal reason is the strong factor here and also moving a big funds could be easily done through crypto while through traditional banking system it'll seem that you need to go more implicated steps to did it.They could also accept checks, bank wires, transfers, Zelle, etc.
Since many people don't have access to cryptos, I would think accepting fiat would increases the chances of success for their ICO.
I'm assuming it must involve legal reasons such as upsetting the Securities and Exchange Commission, or the potential of being classified as a money service business (MSB) since changing fiat for crypto could put you in that category.
Since many ICOs appear to be either scams or little more than concepts with little chance of success, perhaps it's also to prevent burned investors from taking legal action later if the project fails, since they traded one token without intrinsic value for another token without intrinsic value instead of cash, thereby making a lawsuit more difficult in claiming damages, etc.
Is there anything I'm missing?
Talking about the legal action if project fails, you still have the chance to report anyone else involved if something goes wrong.
But just wait for ICO 2.0 and we'll see something new.
In my own opinion since the ICO projects is about cryptocurrency then it's only natural to accept other cryptocurrency as a payments. Accepting fiat is too much hassle.
I think some ICO are accepting fiat money too because I saw in some ICO's website in the accepted currencies USD is also included but I don't know they accepting other fiat but the ICO are available who accept fiat money also.
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