When the Crypto Good Times Come Back, So Will the Scams.
Bitcoin and the whole crypto market added almost $20 Billion to the Market Cap within 24 hours. Like many of you, I have been waiting patiently for a reversal of the market. It seems the Bulls have finally made a move. Is the bear market over? I sure hope so but I will never disregard the bear.
One of the most common things I have heard during the bear market was this, “We don’t want to launch our project until the Bull market returns”. I have personally spoken to over 20 crypto projects over the last year and believe me a wave is coming that even I can’t fathom.
This does not mean that every project is a scam. Take care with your Bitcoin and do not hand it over unless you have done your due diligence.
Real Garbage is Out There.
There are some types of so-called investments that warrant even more attention. Do you remember the scene from, “The Wolf of Wall St”? I sure do and this is exactly how it goes down. In the movie, they talked about “pink sheets” crypto is similar to them. You probably don’t know the team behind many of the projects. You click on an ad, listen to a sponsored Youtube video then get drawn in by a well-constructed website.
The Pitch Scene from “The Wolf of Wall St”.
Don’t Be Fooled By These New Terms.
STO- Security Token Offering
IEO- Initial Exchange Offering
If We Thought the ICO Market Was Huge, The Next Phase Will Dwarf It.
“Initial coin offerings (ICOs) were all the rage in 2017, raising a massive US$5.6 billion, but this year saw the emergence of the security token offerings (STOs), a market that’s predicted to be worth some US$10 trillion by 2020.”
Guard Your Bitcoin.
It is time to educate yourself about the crypto market, security offernings and how to protect yourself from the bad players out there. The next crypto bubble will blow our minds. This time around, I vow to not get caught up in the excitement and stay focused on my goals. Just because your buddy says he found the next best STO, does not mean you need to buy some tokens.
It is not easy to build a Bitcoin stack so why give it away easily? Do your own research on each project that interests you but dig deep into each one. There is Bitcoin to be made but just like the ICO market, the STO market will also be full of stinkers.
Get Ready, Good Times, are Just Around the Corner for the Crypto Market.
I am thrilled that I am able to be part of this world-changing technology. Crypto and blockchain are going to change the world as we know it. As an entrepreneur this makes me smile from ear to ear. Just like the ICO market, the good projects will find their way to the top.