5 Hot Amateur’s Questions about ICO

Experienced traders had invested in cryptocurrency long before it became popular worldwide and before cryptocurrency was highly demanded. The most cautious traders buy tokens during the first ICO stages. If you are not an experienced trader yet and the abovementioned just provokes questions like “How to do it?”, The Coin Shark will try helping you to understand what this three letter abbreviation means.

1.How to decipher the abbreviation?

ICO (initial coin offering) — is a release of tokens conducted by a project. These tokens can be used in future to pay for the services of the platform. Besides after the floatation you can sell tokens and gain on exchange.

2. How does it work?

A project that conducts such a campaign must use blockchain technology. Basically ICOs are used for financial or technical startups that exist only on the paper at the moment of an ICO-campaign. Blockchain’s main purpose is to make people’s life easier and it can be used in any sphere. For example, a farmer can create an internet platform where their products can be sold for tokens.

3. How can I gain profit?

You can study the project’s concept and join the ICO on the web-site. Beforehand you should have a digital wallet with cryptocurrency (you can buy it either for fiat money or via an online-exchange) and understand the basic principle of transactions completion. The easiest way to find information about it is to use https://blockchain.info, https://www.myetherwallet.com/ or any other resources. Interface is easy-to-understand even for an amateur.

4. Are there any guarantees?

There are no guarantees. No country has a law that regulates conduction of an ICO but a number of countries gradually ban such activities. In other words, ICO for a buyer is a deal based solely on trust. If we view ICO as a type of crowdfunding then it is necessary to understand that there is a possibility that a start-up doesn’t reach the moment of the product release or of the idea implementation because the required sum (hard cap) was not collected. And even in case of the project implementation, the result can vary from what you imagined or from what was promised to you. Some projects knowingly start ICO that is impossible to implement. Their only goal is to gain profit, and they are called SCAM. Your aim is to avoid such projects if it is possible. There are some special characteristics for their recognition. You can find them in The Coin Shark article.

5. How to avoid bankruptcy?

There is no straight answer to this question. Everything depends on your actions and project choice. Experienced traders can provide you with just one piece of advice — invest a sum that you are ready to lose.

Examples of successful and failed projects

Ethereum – is probably one of the most striking examples of a successful start-up. The idea was to make an open programming platform with an opportunity to create decentralized apps. In 2014 Ethereum managed to attract $18 million which is not a record for successful ICOs. As a comparison you can study ICOs of such projects as EOS or Tezos. However, today Ether is the only cryptocurrency that can compete with Bitcoin in capitalization.

Mobilego — is the world-first decentralized mobile platform for games. The project collected $50 million in Waves and Ethereum cryptocurrencies. ICO was started in April 2017. For now the platform has been successfully launched.

The practice shows that collection of big investments doesn’t guarantee that a project will be successful. This is exactly the case with such a large-scale project as Status. Singapore start-up was based on a wonderful idea — Ethereum based free mobile client with an open source code. Immediately after the ICO had been launched the project could have collected $100 million investments. However, because many exchanges froze capital withdrawal, the rate of exchange crashed.

According to Smith & Crown reports, this year start-ups have already collected more than $1 billion via ICO which is ten times more than in 2016. There are no doubts that cryptocurrency is a popular and beneficial investment tool. However, it is not possible to calculate the loss that traders had during different ICOs. That is why the best choice is to invest without any tangible consequences for your non-electronic assets.

 

GShare Helps to Expand Adoption of MGO Tokens

MobileGo team claim their products are being developed to meet the needs of both gaming community and blockchain enthusiasts.

Starting today beta-testing of MobileGo brand-new product is available for everyone. What is it and why is it worth attention?

What is GShare?

GShare is a special tool for earning GShare Gold. To make a long story short, it converts your computer power into GShare Gold coins. From some point of view it is ‘mining’, with the only difference –  GShare Gold is not cryptocurrency. GShare Gold is a soft currency to bring new possibilities to gamers, expand existing and also open doors to the world of blockchain, by saying that we mean earning MGO tokens using Gshare Gold. GShare Gold is earned without any extra efforts, user just need to run the app, press the ‘Start’ button and that’s it. User is already in, earning GShare Gold while playing his favorite games, working or doing whatever he wants to. Later on this GShare gold coins can be used on esports platform to participate in tournaments and win MGO tokens. GShare is interesting news not only for gamers. GShare is believed to  write a new page in history of social impact as well. So not only gamers can benefit from using GShare platform by earning MGO tokens for victories, but, people who want to make difference in this world, would be able to participate in socially important activities using GShare Gold. But first things first.

How to use GShare Gold earned with GShare

GShare Gold can be used on esports (competitive) platform that is also available for public tests from now. You can use GShare Gold as a tournament entry fee and earn even more with just personal gaming skill, and not only GShare Gold but the MGO tokens as well. The platform beta-version is already live and ready to use. The platform has been developed specially in such a way that no matter of skill level everyone, even people new to esports can find a decent competitors  and spend some good time playing, be victorious and claim his prize in MobileGo tokens. MobileGo team claims that soon GShare gold would also gain adoption in many other spheres. It is being said that GShare Gold will be accepted on social activities platforms to unite non-indifferent people which desire to change the world and make it a better place, which sounds quite intriguing.

How is GShare useful for MobileGo?

The holders of MGO have another cause for excitement. MGO is being accepted as a payment method in both Xsolla Pay Station and esports platform, which makes its adoption even more massive. The key moment is that players who used GShare Gold to enter the tournaments on esports platform and showed their best play and won can claim their victory bounty in MGO, so MobileGo token has all chances to become desired by numerous gamers around the globe.

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptocurrency Prices Today, December 7: BTC Dropped by 12% in a Day, Cryptocurrency Collapsed

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost a record 12.4% over the past 24 hours. The price at the time of writing is $3377 per coin.

Following BTC, cryptocurrencies fell in price:

Bitcoin Cash lost 19.11% over the past 24 hours and costs $110 per coin;

Ripple fell by 12.3% and has a rate of $0.30;

EOS minus 25.04%, and its price is $1.70;

Litecoin decreased by 14.9%, and its cost is $25;

Cardano lost 17.72%, and its value is $0.028;

Stellar became cheaper by 17.42% and costs $0.10;

IOTA dropped by 17.53%, and its value is now $0.24;

Dash fell by 21.65%, and its price is $61;

Monero lost 2.18% and costs $45.

Over the past 24 hours, Ethereum dropped by 17.63% and continues to decline. The coin rate crashed down to $84, according to Coin 360.

The total market capitalization fell to $107 billion. Bitcoin accounts for 55.2% of the total volume. In monetary terms, it is $59 billion.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptocurrency Prices Today, December 6: Ethereum Is on the Verge of a Psychological Mark of $100

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) added 0.6% over the past 24 hours. The price at the time of writing is $3869 per coin.

Cryptocurrencies continue to decline:

Bitcoin Cash lost 11.17% over the past 24 hours and costs $145 per coin;

Ripple dropped by 1.54% and costs $0.34;

EOS minus 4.37%, and its price is $2.22;

Litecoin fell by 1.62%, and its cost is $29;

Cardano lost 3.79%, and its value is $0.034;

Stellar decreased by 5% and is $0.13 in price;

IOTA lost 1.49%, and its value is $0.27;

Dash fell by 3.30%, and its price is $79;

Monero dropped by 2.18% and costs $53.

Over the past 24 hours, Ethereum decreased by 4% and continues to decline. The cost of the coin is $102, according to Coin 360.

The total market capitalization is $123 billion. Bitcoin accounts for 54.7% of the total volume. In monetary terms, it is $67 billion.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

“Don’t do it in Beijing”: Chinese Authorities Banned Security Token Offerings

According to Chinese news media outlet Caijing, Beijing government decided to do away with any types of token sales, namely they banned security token offering (STO) in “Northern Capital”.

The statement was announced at the ‘2018 Global Wealth Management Forum’ by Huo Xuewen, the chief of Beijing’s Municipal Bureau of Finance:

“Recently, ICOs have been abandoned, and a new concept called STO has been advertised. With today’s platform, I will make a risk warning to those who are propagating in Beijing and want to issue STO. Don’t do it in Beijing. If you do it in Beijing, you will be taken away from illegal financial activities. When we have the authority to approve you to do an STO, we will say.”

The STO is a friendly-regulated kind of an initial coin offering (ICO). The STOs are enable to possess securities or stakes in business, as well as get the profits from it. The tokens represent tangible assets.

We remind you that China banned all foreign ICOs inside the country back in April this year. The SEC also decided to introduce fines for celebrities who promote scam ICOs.

SEC Is Going to Fine Social Media Celebrities Who Promote Scam ICOs

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptocurrency Prices Today, December 5: Cryptocurrencies Won’t Stop Falling

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 3.8% in the past 24 hours. The price at the time of writing is $3850 per coin.

The rest of cryptocurrencies demonstrate quite a negative result:

Bitcoin Cash lost 10.52% over the past 24 hours and costs $171 per coin;

Ripple dropped by 2.76% and is $0.34 in price;

EOS minus 10.30%, and its price is $2.29;

Litecoin fell by 3.95%, and its cost is $30;

Cardano lost 6.94%, and its value is $0.036;

Stellar decreased by 4.12% and costs $0.14;

IOTA dropped by 4.54%, and its value is $0.27;

Dash minus 5.24%, and its price is $81;

Monero lost 3.73% and costs $54.

Over the past 24 hours, Ethereum decreased by 3.46%. The cost of the coin is $106, according to Coin 360.

The total market capitalization is $124 billion. Bitcoin accounts for 54% of the total amount. In monetary terms, it is $67 billion.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

How to Explain to Your Grandparents in 10 Minutes What is Bitcoin?

The older generation often perceive innovations as something supernatural and incredulous refer about them. But, what should you do, if you need to explain to your grandparents what is bitcoin, despite the fact they are afraid of picking up a mobile phone? 🙂
Of course we exaggerate! But since, the cryptocurrency little by little captures the world finance market, bursting into the life of those, who aren’t interested in it – your grandparents should be prepared.

For this The Coin Shark had developed a strategy, which will help you to explain what is Bitcoin in 10 minutes. During the experiment, none of the grandparents didn’t refuse to descend the legacy to their grandchildren 🙂

Stage #1: “Bitcoin – is like a paper money, but not made of paper”

Remember, never try to explain to older generation about the innovations on the developers slang. We recommend you to draw an analogy with the things which are more understandable for them.

It is better to compare Bitcoin with the ordinary money. Explain them, that it has the same value as the paper money, in which they receive the allowance. You can also buy goods and pay for services by using Bitcoin.

Do not forget to specify that the cryptocurrency are not made of paper, but encrypted by computer code. The ordinary money which we receive we can touch but the digital – not. Because they are stored on the computer, while the ordinary money in the wallet.

As far back as you can go that cryptocurrency is based on cryptographic methods, its management is decentralized and it works on the blockchain technology – your grandparents may think that you are possessed by a demon. All this stuff are clear only to our crypto space.

Stage #2: “Miners – are gold miners”

After the first stage is complete, it is logically that your grandparents will ask you – “how to get them?”

The old and proven method of the analogy also works here. We all know that we earn Bitcoin by mining. We associate it with a gold mining. And we clarify that while mining the cryptocurrency hoes,picks are not used, but a computer.

If you see understanding in the eyes of your beloved grandparents, than you can add, that Bitcoin can be bought on the internet. Specify, where and how is not necessary.

Stage #3: “Spend Bitcoin in the specialized store”

Before telling to your grandparents, where they can buy products by bitcoin, they need to know, that it has its own rate as well as the dollar. Except the rate depends on demand. Prepare sedative, because once they know the price for one BTC they will be very surprised. Only we are complaining here, that “Bitcoin is dying” , and it will be shock for them, that only one coin can cost 4 thousand dollars. I guess you realise that you should keep silence about the rate of 20 thousand dollars.

Now you can tell them : “Since Bitcoin – is unusual money, they are spent only in the special stores”.
Good job, the grandparents are ready! Now they can tell to their friends about Bitcoin. And if they are not afraid of computer, and they were interested in your story, than in the “For Beginners” section, they may find more about the cryptocurrency #1.   

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/