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Anonymous
Just wondering how good or risky it'll be to invest in products like this. I have heard the Bitcoin prices are on the rise, but will this translate to momentum for products like these?
How stable or risky are ICOs?
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Kenneth Lou
07 Jan 2021
Co-founder at Seedly
I would be 100% extremely wary of these type of schemes.
If you remember in 2017 when there was an ICO boom, many such schemes existed and worst still, many lost their capital.
They are totally not regulated at all and there is no easy way to get your money back in the event of a default. Some are pump and dump.
If you want to get into cryptocurrency, stick to what you understand and what your risk appetite has room for. At least the 10 largest market cap in crytpocurrencies could be a better and smarter move. However still huge risk as no one truly understands the use of cryptocurrency now besides the fact that it is limited in supply.
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You must study what type of ICO it is and in which direction it is pointing, what problems it is going to solve and the amount of currency that will be in circulation so you will know the projection that that ICO has.