We are witnessing a historical time in which the paper money that has ruled the world for centuries is falling under the new forms of payment – cryptocurrencies. Given the recent affairs concerning the steep rise of BitCoins (BTC) prices, it is time to present more advanced ways of cryptocurrency investments that are not as much covered by the daily media, mainly – the Initial Coin Offer (ICO).
“Nearly two years ago, my friend was persuading me into buying BitCoins, which at that time costed around 300$. The problem was not in money or my fear of taking risks, the only problem was the bureaucracy. The buying process itself was very complicated. I didn’t have the will to sit down and do this, I’ve been postponing this task every day until one day I took a deep breath, sat down in front of the computer and finally did it. “ said Hrvoje Prpić, CRANE’s Board Member.
He adds that the reason behind that was that BTC has increased 60 times in the meantime, and all the money he had invested in the cryptocurrencies will over time represent his second major business success after selling HGspot.
“I will not talk too much about the known cryptocurrencies because I personally believe that we are approaching the slowdown of its growth rate. I do not think we’ll get to see a growth of 20x or more again. There will be increases, but not as substantial. If you are looking for this unique opportunity to earn 10x, 20x and even 100x in investments, I think you need to look into ICOs, “ says Prpić, whose advice on how to invest in one of the ICOs are presented below.
What is ICO?
ICO or “initial coin offer” is the initial offer of the cryptocurrency. ICO is defined as means of funding startups that is based on technology similar to Bitcoin. However, the new cryptocurrencies are extremely unstable and therefore (among the successful ones) it is not uncommon to see a daily increase of 500%.
Below are examples of some ICOs that underwent an extremely large growth:
NXT – 1477x coins return on investment
IOTA – 332x
Ethereum – 152x
NEO – 114x
Stratis – 84x
To illustrate, if you have invested 1000 HRK in some of these ICOs – you would now have 84,000 to 1,477,000 HRK.
Here is how to invest in one of the ICOs:
Step 1. Opening an account on Coinbase
Coinbase is an American exchange platform that allows you to replace the money for one of the 4 ryptocurrencies – Bitcoin (BTC), Litecoin (LTC), Ether (ETH) or Bitcoin Cash (BCH).
Step 2. Open an account on MyEtherWallet
MyEtherWallet or MEW represents your “wallet” for the Ether currency (ETH) and for all the tokens (coins) you will receive while investing in ICO. At the workshop, you will learn how to transfer your account to MEW and move the ETH purchased via Coinbase.
Step 3. Choosing the right ICO
This is the crucial part where you can either multiply your investment money by choosing the right option or lose it if it’s not done well.
Some of the things you need to consider when choosing an ICO include: the team behind the ICO, where the project you are investing in stands, what is the media saying about it, what is the technology behind the project etc.
Step 4. Replacing tokens for cryptocurency at the right moment
After buying tokens (i.e. investing in ICO), you can buy and sell them after ICO finishes. You can now determine how much of return you want and decide at which point you plan to sell your tokens that you received via ICO.
The mistakes made by numerous people are either: a) investing in the ICO too late, or b) selling their tokens prematurely without realizing the earnings they could have made.
Step 5. Selling cryptocurrency for bank money
The last step is to sell cryptocurrencies for ordinary money and returning it to your bank account.
These are the necessary (and simplified) steps to invest in your first ICO.
“I believe that opportunities like these do not appear often – maybe every 15-20 years and I would be very sorry if I’d have missed it. Unfortunately, the internet is full of “scammers” and fraudsters who gladly give out investment advice without ever investing any kunas (or dollars) into cryptocurrencies, so be careful where you get your information, ” Prpić advises.
CRANE members Hrvoje Prpić and Ivan Crnković will hold a seminar on investing in cryptocurrencies on January 23rd, 2018. in Zagreb.
The workshop is intended for beginners, and it will include a complete registration process for various services, money transfer sites and cryptovalutes, selection of an appropriate ICO for investment, token purchase, transfer and sale, including the transfer of money to a current bank account.
You can find out more information about the tickets on the link.