A lot of people have been asking me about the NEO platform and some of the best ICOs to invest in.
So, I’ve decided to write a blog on the NEO platform along with some top ICOs to invest in.
NEO and its token GAS are often called “China’s Ethereum” by many people, but is this true?
NEO is a blockchain platform designed to build a scalable network of decentralized applications. It uses smart contracts, similar to ETH and EOS, but NEO uses them differently.
Unlike ETH, NEO has a finite supply of coins: there are only 100 million NEO coins that can ever be produced. This is very different from ETH, which is an ever-increasing coin supply.
NEO also rewards holders with GAS tokens for holding onto their coins. The more NEO you have the more GAS you will receive up until 22 million GAS is released. The best part about this model is that it helps keep the value of your investment intact and even increase over time if you hold your tokens correctly.
A growing number of entrepreneurs are using initial coin offerings (ICOs) to raise funds for projects they envision. An ICO is an event in which a new cryptocurrency project sells part of its cryptocurrency tokens to early adopters and enthusiasts in exchange for money today.
An ICO is similar to an IPO, or initial public offering, in which the shares of a company are sold to the public. But there’s one major difference: whereas IPOs represent the ownership of a company, ICOs essentially represent stakes in a product that hasn’t been released yet.
The most important thing you need to know about ICOs is that very few of them will ever materialize into a real product. Most startups never do. And if they do, very few will go on to become successful. You should thus approach ICO investing with the same skepticism as you would approach any other form of startup investing.
In this post I want to share my thoughts on how to invest in ICOs and some top picks I like right now.
How to Invest in an ICO
There are four steps you need to take once you’ve identified an interesting ICO:
1. Read up on the project: what problem does it want to solve? Is this a variant of Bitcoin
The world of cryptocurrency ICOs has been on fire as of late. Year to date, crypto-related firms have managed to raise over $1.5B USD in funding through ICOs, and the number continues to rise.
This frenzy has attracted many new participants to the market that have heard stories of people raising millions of dollars overnight. But what exactly is an ICO, and how can you pull one off?
An Initial Coin Offering (ICO) is an unregulated means by which funds are raised for a new cryptocurrency venture. An ICO typically involves selling a new digital currency at a discount — or a “token” — as part of a way for a company to raise money. If that cryptocurrency succeeds and appreciates in value — often based on speculation, just as stocks do in the public market — the investor has made a profit.
ICOs are usually facilitated by blockchain technology, which has become popular largely due to its use in so-called “smart contracts” that allow two parties to transact without the need for intermediaries like lawyers or bankers. This allows startups to bypass traditional early seed investment methods and get their projects off the ground quickly.
You might be asking yourself, “How can I get in now?” Although
The idea of raising money from the crowd is appealing to all but the most greedy of entrepreneurs. It seems like a logical step for all blockchain projects that are at least in part, decentralized.
What we’re seeing now is an unprecedented rise in ICOs, with over $1.27 billion being raised in 2017 alone. If you’re confused by the complexities of ICOs and what they entail, then this guide is definitely for you.
If you know what you’re doing, an ICO can be a great way to make some money – but it can also be a minefield of scams and pitfalls. Luckily, I’m here to help. Before I get started though, I should note that investing in ICOs is extremely high risk and should not be done without careful consideration.
What Is An ICO?
As we enter into 2018, the crypto market is already exploding with coins. With over 1,000 different cryptocurrencies to choose from, it can be difficult to separate the wheat from the chaff.
Demand for ICOs (Initial Coin Offerings) has been incredible, with blockchain-based startups raising over $4 billion in 2017. Many investors are hitting the market hard, with no signs of slowing down.
What is an ICO?
ICOs are a form of investment funding wherein startups offer new types of cryptocurrency in exchange for cash or preexisting cryptocoins like Bitcoin or Ethereum. Some projects have also opted to sell “tokens” instead of coins, but they’re largely the same thing.
When looking at a potential coin investment, you should be asking yourself: what is this startup trying to accomplish? Is their idea something that could potentially be used on a large scale? Do you think this project will succeed?
For the past year, the chatter about cryptocurrency has largely been about Bitcoin. But other cryptocurrencies have also surged in value in recent months.
One of them, Neo (formerly Antshares), has quietly risen to become one of the top 10 cryptocurrencies by market cap and is now firmly in the top 20.
Neo’s strong performance stands in stark contrast to that of Bitcoin and Ethereum, which experienced a severe correction for most of September. Indeed, Neo rose over 90% in price during that time period.
The Initial Coin Offering (ICO) has gained traction as an innovative method for cryptocurrency projects to raise capital from early adopters. ICOs are similar to crowdsales or token generation events, where projects sell a percentage of their tokens to early backers in exchange for funding.
The NEO project is the first decentralized, open-source cryptocurrency and blockchain platform launched in China. Formerly Antshares, it was rebranded “NEO” in June 2017. The NEO platform plans to be the foundation for a smart economy by utilizing blockchain technology and smart contracts to issue and manage digitized assets.
In this article we’ll cover:
The history of the NEO project
How the NEO network works
Noteworthy ICOs on the NEO platform
How users can purchase and store NEO