ICOs or Initial Coin Offerings are the newest way of raising funds for a company.
Similar to an IPO (initial public offering) where you're buying stock in a company, but instead of stock, you are investing in their crypto tokens, which will hopefully be a part of the business.
For example, the Wild Crypto ICO, which is still ongoing, is going to use those tokens to let players play their online games and lottery. You have to buy their tokens to play.
Not all ICOs are like this, and you should run from most ICOs that offer a token simply for the purpose of raising money -- they're very likely just scams.
If you do a search on the costs of running your own IPO, you will see that you have to go through the Banks, and that they charge something like 60% of the income.
ICOs break that monopoly, and allow us to invest in great potential ideas which can make the economy grow. Banks have been stifling that with the help of government, and now there's a new way to let new ideas make it to the world.
Now, whereas all that sounds great for the overall economy, what does that mean for you?
Well, whereas you can just buy and hold Bitcoin which should hit $13,000, given that Bitcoin is at around $4,000 today, you would stand to make 3x gains with that strategy.
And that's a lot more than my 401(k) is making right now! :(
But, the appeal of good ICOs is that you stand to potentially make 22x gains (2000 tokens to 1 ETH) with the aforementioned WILD crypto ICO.
So, it's always good to diversify your investments. Cryptos are no different. You can throw a small amount and still get big gains, so for the older generations, this is KEY. This could be the key to saving their retirement. You see a lot of people back to work at McDonalds and Starbucks instead of enjoying their retirement.
Negative, zero and near zero interest rates are responsible. The Central Banks and the governments are not helping us. Only their Big Bank and Big Corporation friends.
Cryptos are our way out. ICOs are just another strategy. Don't throw all your pennies into them, because they're all risky.
Good fortune, and as always, thank you for sharing your Light with me.
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