Halfway through 2017, everyone knew what bitcoin was and those who did not; wanted to make sure that they did know because no one hates making some fast cash – which it wasn’t intended to be used as originally. By the end of 2017, the cryptocurrency Industry was set at $326.7 billion and the digital currencies numbered to about 617 while 2108 cranked up those numbers to $629,5 billion worth of assets and 1,335 new cryptocurrencies. Bitcoin has been the apple of everyone’s eye, while other cryptocurrencies tried making it out of the quicksand of forgotten isles.
So the exponential growth of cryptocurrency wasn’t really a big deal because Initial Coin Offerings (ICOs) made it easy for both investors and buyers to provide support to each other – which wasn’t always the case. Most ICO creating cryptocurrencies never intended to deliver their half – scammers toying with the new kids on the block. However, the ICO massacre came to a halt with massive ICO regulations as know-your-customer (KYC) and anti-money laundering (AML) with the new advancement being: Equity Token Offerings (ETO), to curb the large-scale thievery.
The numbers don’t lie. Statis Group, in their recent report, condemned 80% of ICOs of 2017 as, while this report also uncovers that out of the total ICO funding in 2017 amounted to $11.9 Billion, out of which 1.34 billion was the scammers’ grub and cybercriminals have scored an equivalent amount at the advent of 2018.
How to Crypto safely?
1.No Margin Trading
Only invest what you have – what you can afford to lose. Margin trading isn’t for newcomers. What good would it do to loan a load of cash and end up investing in a drowning currency? No good at all.
2.Respect Crypto for What it’s Worth
Cryptocurrency was intended for removing the middleman in transactions. Not for being used as a stock to make cash. Nevertheless, the proposition was aptly accepted by everyone once the idea got out. The key to succeeding at it is simple which is doing research, making security a high-level priority and letting time takes its course.
Quick decisions are bound to end in wrecks.
3.Avoiding the Coins on Flash Sale
No, coin sale isn’t a thing but bundling good and cheap in the cryptocurrency realm isn’t either a practicality. So try to go for the crypto shares that have lasted in the market for quite some time and, are making progress. It then again, all comes down to studying how things progress – more research work indeed.
