F.O.M.O. in cryptocurrency ICO
I am a software developer and recently started investing in cryptocurrencies in ICOs (Initial Coin Offering). I saw a lot of people there who don't understand the project. They just saw other folks making money in some of the successful ICOs like Golem and want to become rich in a short span of time.
The reason for this - they feel missed out the opportunity in past ICOs. Now due to FOMO ( Fear of Missing out), these people will participate in any overhyped ICO without understanding technology and the vision of the company. Some of these people are lucky to make money and few of them lost their money in scams.
My only point is to understand the project. Check out its whitepaper. Ask yourself, "Will that project really solve any problem?". For your own sake, Stay away from Fear of Missing out.
Happy Investing!
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I recently learned FOMO. Nice
Thanks!
Thats the problem in the crypto currency world, almost 80% are ponzi scams.
The only safe thing i found is in trading