Initial Exchange Offerings of Cryptocurrencies

in hive-183397 •  6 months ago 

Hello everyone, I am happy to make another post about IEOs, which are initial exchange offerings of cryptocurrencies.

image.png

Source

An initial exchange offering is the presale of a cryptocurrency before the launch of that crypto asset. Day in and day out, new crypto projects are developed, some of which are scams, others are legitimate. These projects need support from exchanges and more influential people in the crypto world to market their crypto assets.

Crypto exchanges like Bybit and Binance have systems on their exchanges called "Initial Exchange Offering Pages" where crypto developers can advertise their crypto assets to buyers of cryptocurrencies in the crypto world. The price of the crypto asset is reduced to sell it to customers at the presale stage. Buyers are to ensure that the asset price increases after its launch for them to take their profits. When you visit the coincodex page, there are many of these IEOs running on different exchanges such as Binance, Kucoin, Bybit, and Spacegold. As we can see from the image below, an ieo of Barcelona fans token is running in Bybit exchange for traders to invest in the token.

Screenshot_20220319-113214.jpg

Screenshot


From the image below are different IEOs running under different exchanges

Screenshot_20220319-114011.jpg

From coincodex


Many of these crypto currencies are scams after their initial coin offerings (IEOs), so traders should conduct research on the asset before purchasing it. of the cryptocurrency scams was the squid game token. This is where traders buy players to play games such as the red light and green light from the movie to earn more squid tokens. They made their presale of the squid token where traders bought it. These traders woke up one morning to realize their tokens were wiped away. That is, the blockchain did not exist again to launch the crypto asset.

Therefore, any trader buying any crypto at its presale stage must take note of the following key points before buying that crypto asset:

The team behind that crypto asset is: Before any trader buys a crypto asset, you have to do your fundamental analysis of the crypto asset. and this fundamental analysis is knowing more about the team behind the development of that cryptocurrency. As a crypto trader, you have to consider the records of each person in the team of the cryptocurrency. You must also look at their previous work on blockchains. As part of the fundamental analysis you have to consider the market cap and it is shown below for $BAR.

Screenshot_20220319-115852.jpg

Screenshot


The whitepaper of the blockchain: Every new crypto asset must have their whitepaper launched on their official website. This is to ensure their customers that the crypto asset is a long-lasting crypto asset and will not be scammed one day. They must give step-by-step ways of maintaining that cryptocurrency and how to make sure the crypto asset is marketed to sustain it in the crypto world. As we know, there is competition between crypto assets as to which asset traders have to buy. The whitepaper of the $BAR token is shown below

Screenshot_20220319-115353.jpg

Screenshot


Traders have to technically analyze the token before buying it. The traders must have tools to help them know the emotions of the traders of the crypto asset. The prices of crypto assets are mainly dependent on the emotions of the crypto asset. After the asset launches, traders' emotions can lead to the distortion of the token, as traders may want to take advantage of taking their profits at the same time.

After the success of many IEOs of cryptocurrencies or certain tokens, they face many challenges, such as the depreciation of their price, which affects traders emotionally.

Therefore, when a crypto asset is successful after its IEO, traders make a lot of profit, and therefore, traders are encouraged to look for good initial exchange offering tokens or coins to buy to make profits in their crypto trades.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Coin offering is so good for all of us to have some holding which will give us huge returns but in many cases scam is the problem which you have explained so nicely. So We have to be careful and do our own research. Thank you very much for sharing.
I love Barcelona Team.

That is my favorite team too