Recently, I have been doing a ton of research on ICO's (Initial Coin Offerings). The name "ICO" derives from the term "IPO" which in the stock market means Initial Public Offering. It is the first time a stock is offered to the public. In crypto, the concept is the same except it is a coin. This coin can either be used as a type of currency, or be used specifically for services offered by the company making the offer. I have invested in a couple ICO's myself, one being Crypterium (an online mobile crypto bank), and another being Safe Haven (A service for protecting digital assets in the event of death). I am not advertising for these companies, I am simply sharing with you two projects that are built on the blockchain.
The list of ICO's is continuous. There are simply too many to list and many of them are repetitive. Not only that, there are some out there that are scams. That is why I encourage everyone to DYOR (Do Your Own Research). Follow the companies on social media and be vigilant about it. It is YOUR money that you are investing.
So, now after that introduction let's continue. One of the more recent ICO's I missed out on was PundiX. This company created a product that could make it possible for any business to accept cryptocurrency as a form of payment. It was as simple as creating a structured app built on the blockchain. Sounds amazing, right? However, U.S. investors were not allowed to participate in the ICO due to national securities. So, you can imagine my disappointment. But, the other day I came across something while I was researching projects. I came across IDEX and also StellarTerm.
IDEX is an exchange where you can trade ICO Tokens with other investors. For instance, I am able to trade some of my Crypterium Tokens with another user and in return purchase Tokens like PundiX. My disappointment quickly turned 180 degrees and I felt as though I had struck gold. You have to create a 'New Wallet' on their exchange and save the JSON file or save a Private Key provided by the exchange. The process is fairly simple and remember to always back-up and print out a hard copy.
Another exchange similar (but with a far less variety of tokens) is StellarTerm. In this exchange, you can use up to six different assets (Stellar Lumens XLM being one of the options) to purchase Tokens. In this exchange I was able to purchase Mobius Tokens with Stellar (XLM). You simply cannot understand my level of excitement until you try it yourself. Creating an account is fairly similar to the myetherwallet set-up.
As usual, I highly suggest that all of you Elite, do your own research and obtain as much knowledge as you possibly can. There are alternative routes to take (legal of course) to get involved in projects you strongly believe in. I hope this information was helpful. Thank you all for reading.
