The world of social media is awash with crypto scams. A quick look through popular Facebook forums and crypto based Twitter hashtags is filled with people claiming to be able to guarantee returns. Free ETH scams and people offering to double your crypto are regularly defrauding the noobs and naive.
Many posts also promote what are known in the trade as “sh*tcoins” convincing investors to swap their funds for coins that can never be sold that are never listed on exchanges.
Others offer mining contracts that never have or will offer any prospect of a profit.
These scams damage all of us and make the world of crypto a minefield for those just getting in to cryptocurrencies.
Fortunately, the Initial Exchange Offering has arrived. By working through a reputable exchange such as Binance investors can be assured that they will not fall victim to an outright scam. Whilst profits are not guaranteed, the exchanges do perform stringent checks upon those wishing to hold an IEO, weeding out those that do not make the grade. This makes them a much safer choice for investors.
The IEO market this year has already raised over $500 million US dollars for startups looking for seed capital. The benefits to both the investor and the project are clear and exchanges put their reputation on the line when hosting IEOs.
If you are looking to invest in altcoins one of the best ways to do so at this time is via IEOs. This new and innovative looks set to have a bright future. The Initial Coin Offering has finally grown up.