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The Easiest Way To Make Millions Quickly These Days--CryptoMania

Forbes logo Forbes 17/7/2017 Panos Mourdoukoutas, Contributor

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Of all the ways to make tons of money quickly these days, one stands out : m ake a hot “Initial Public Offering” (IPO) for a cryptocurrency—take a cryptocurrency public through an Initial Coin Offering (ICO) to ride the cryptoMania trend.

Hot IPOs have always been a quick way for investors to make tons of money. Provided that they create the IPO or take part in it as “angel investors” and “venture capitalists.” That means acquiring shares in the IPO for pennies or a few dollars at pre-IPO prices, and then find other investors to unload these shares at hyper-inflated prices.

That’s usually the case at times when money is easy and investors are hyped about the theme behind the IPO asset—an exotic product or a new technology that promises to change the world and turn investing into a mania.

Like in the late 1990s, the dotcom era. Angel investors and venture capitalists bought stakes in dotcom companies for a few cents before they went public, unloaded them for double and triple digit dollars the day these companies made their debut on Wall Street.  We a ll know what happened in th at case — t hese early investors made tons of money, while investors who joined the party late lost tons of it.

Now money is easy again, and hot IPOs are back in fashion. Now however, they aren’t about taking stocks public. Instead, they are taking cryptocurrencies public – generating and distributing crypto tokens among the crowdfunding participants.

These ICOs are hype d with the great promise cryptocurrencies hold for a world in which there is an eroding faith in central banks.

Investor hype has create d a great deal of buzz , made ICOs hot, and helped investors who have participate d in them make tons of money. An initial coin offering (ICO) for a blockchain project called Bancor, for instance, raised close to $153m in ether, the native currency on the ethereum blockchain, as part of a crowdsale.

Among the early investors was legendary venture capitalist, Tim Draper of VC fund Draper Fisher Jurvetson, according to the same source, which has added to the cryptocurrency hype.

Then there’s Tezos blockchain project ICO, which has raised a record of $232m-worth of bitcoin and ether. And the list gets longer by the day—see icorating.com.

And of course there are the Bitcoin Investment Trust Shares that began trading in the OTC market late last year, gaining 208.26 percent so far this year, leaving gold in the dust.

“Bitcoin is accepted by 100+ companies including Microsoft and Dell,” says John Paul McCaffrey.  “As new cryptocurrencies develop it is very important to be able to pay for products and services through a variety of merchants in order to sustain current coin holders and attract new ones. It might be shocking to learn that there are a number of car dealerships across the country that accept Bitcoin as payment. Buying these currencies is as easy and downloading the Coinbase app on your smartphone and creating an account. To set limits on your purchases you can use the web-based app GDAX, provided by Coinbase.”

Fund

12-month performance

SPDR Gold Shares (GLD)

6.55%

Bitcoin Investment Trust Shares (GBTC)

208.26

Source: Finance.yahoo.com 6/22/2017  

“The cryptocurrency market still proves to be quite volatile which definitely creates opportunity for money to be made,” adds McCaffrey. “But trading is the hard way to make money in every market. Getting in the market ahead of the crowd, and getting out when the IPO or the ICO makes its market debut is the easy way.”

 
 

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