An Initial Coin Offering (ICO) is a way for blockchain developers to raise funds for their project, they do this by selling a portion of their blockchain coins or tokens. ICO’s can be a very profitable main problem now is ICO’s is a new way for some scammer to get money, it’s the easiest way of fraud and choosing the right ICO’s is hard especially for newbies in cryptocurrency. Not only for scam some developers is not the intention to scam investor but their project is not enough for the tokens to be bought by others which results of unable to liquidate tokens or coins not, in right price which will lead to loss of money of investors. Bounty hunters also put an important role on the success of ICO’s, bounty hunters are known for a cheap way to advertise ICO’s but they also can be a victim too of a fraudulent ICO’s. Developers can pay those tokens with no demand or value, they can be also a victim of promoting a failed ICO. Some of the bounties are unsustainable or fraud for pumps and dumps, one of the bounties I join is paying tokens proportional to the token you bought on the exchange which can cause fake demand and pump price of a token. This practice is unsustainable and will cause of future of hard price dump of the token or coin. But the main problem on ICO’s are Idea’s, most of the ICO’s today are just copy or almost the same idea as other. Some of ICO’s great ideas are from the unknown or not trustworthy team even with the greatest idea lack of experience, being new, and not in a big organization is the same as being untrustworthy.
Knowing the issues of ICO I found a project that will solve that introducing CryptoProfile is the all in one solution for any ICO’ problems for developers, newbies, investors, and bounty hunters.
How CryptoProfile’s work:
feature Benefit of using CryptoProfile:
- funds bought are in a 6 month locking period for funds to ensure proper product development and will release when it is listed on an exchange
- ICO founders are check by CryptoProfile to ensure the Identity is authentic and blacklist potential scammers
- ICO ratings, business viable, unique and review will guide Investor for the profitability for each ICO. they will ensure that the ICO's on their platform is not just another copy cat. If the developer has a great project but lack credibility because of lack of experience and being new using the CryptoProfile will increase its trustworthiness for the investors.
- token economics, to ensure price stability of ICO tokens or coins.
- legal issues founders do not need to seek advice on legal issues CryptoProfile will provide legal issues including KYC for investors
- airdrop for CP holders
- bounty hunter management
- prevention of pumps and dumps
- education for newbies
to know about the project you can visit:
website
whitepaper
Twitter
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Author:gawer33
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