Why is ICO the ultimate goal of every Cryptocurrency?
For all people in the cryptocurrency world, ICO might be the best thing you ever heard. ICO is the system that probably acts like a double-edged sword that can push your coin value multiple times or sometimes destroy a coin value. ICOs typically take place as private or public events. But even though it’s highly beneficial for the coin holders, it’s also the ultimate goal for all the coins out there.
What is an ICO?
ICO or Initial Coin Offering is a term for the initial release of a new digital asset. Exchanges like Binance or Coinbase will then hold a large amount of your coin that will then be distributed to its members who want to purchase them.
The concept is similar to Initial Public Offering where a company offers a part of their company to the shareholders, but instead, you are offered their coin like Ethereum or Bitcoin and you purchase it either to trade it for the short term or go on for the long run.
When an ICO takes place, everyone who holds an account on the exchanger can purchase the coin but unlike a regular stock market account, coins in an ICO are generally created and distributed using a blockchain system, the technology behind cryptocurrencies and other modern asset tracking solutions.
Why is ICO the ultimate goal for every Cryptocurrency?
- Initial Coin Offering as the name suggests, helps Cryptocurrency in growing the awareness and exposure of the target market for its coin. According to research by statista.com, out of a survey done on 4000 people, only 6% of people in the US and 7% in China are familiar with cryptocurrency and an ICO to international exchanges like Binance or Coinbase would enable you to increase this market and penetrate to everyone who literally has a smartphone globally.
- As a study done by statista, there are more than 4501 coins in the market so going on ICO to the exchange means you have access to real-time market data and statistics that can be valuable to the company to track the performance of the coin in the market and possibly compare its performance with its competitors.
- As every cryptocurrency aims to be a payment system, an ICO to an exchange made the distribution of these coins a lot easier as people can directly buy and sell your coin from their smartphone in times of need.
Why is it beneficial for you?
An Initial Coin Offering like IPO enables you to buy a digital asset at its entry price, reducing the risk of your investment. Take, for example, Ethereum was released through an ICO in March 2014. The initial sale netted $2.2Million with 7 Million coins in the space of 12, according to the cryptocurrency exchange, that at the time of ICO Ethereum was priced at $0.30 and now flashback to May 2021 and Ethereum priced at $3,000. That’s a huge ROI, 10000 times in 7 Years.
ICO is a beneficial deal with a huge return and quite a low risk. If you are looking for coins at an ICO stage, our Nagaya Coin is at a pre IPO stage, so you can board the rocket before it lifts off.
If you would like to know more regarding the world’s first hybrid cryptocurrency, you can visit us at www.nagaya.io
Or come talk to us at t.me/nagayaofficial
