STEEMIT CRYPTO ACADEMY S5-W6:: HOMEWORK POST ON INITIAL EXCHANGE OFFERING AND BIANANCE LUNCHPAD:: BY @gi-de-on::
Greetings everyone and the entire Academy. It feels really nice to be part of this week's academy exercise. I am glad to b part of it all thanks to God and the entire a Academy board for this privilege granted. A big thank you to Prof.@nane15 for yet another wonderful lecture.
INTRODUCTION
It is nice to finally be having such a wonderful lecture. It shouldn't always be about trading patterns but also the exchanges where most of this traded tokens are been transacted.
It is in this note we are simply talking about the IEOs which simply stands to be very popular ways in which tokens are been traded, beating on projects that are yet to be completed, etc. Hence, this would therefore be discussed in details below.
Explain in your own words what an IEO is.
IEO is an abbreviation which stands for INITIAL EXCHANGE OFFERING. This is popular known for its very safe and secure way in which investors simply place bets on projects that are yet to be completed.
It is simply a centralized system which is definitely controlled by a group of persons or an individual/an authority. This is made possible through the fact that the system is a centralized one. Been a centralized system, the IEO is known for its high secure nature as compared to the ICOs.
Generally, the IEO serves as a means in which project creator Simply get financial assistance to enable them complete a project. This assistance is simply done by providing them with presale of an ongoing project.
Hence, this pre-sale of projects are simply done on a very cheap rate which makes this one of the most attractive nature of the block chain. The ability of the centralized system to help investors acquire tokens are very cheap rate to maximize profit In the nearest future.
Also, the IEO is a centralized system which gives investors the leverage to get tokens that are not out yet for sale at a very cheap price which will later bloom to the fullest once it is out for sale. Also, the IEO simply help investors know how legit a token is. This is to say that there are no fake/scam token listed on the blockchain.
Do you consider IEOs an advantageous way to make an investment? Explain.
I will say a big YES.. to this claim. The IEO is more of an advantageous claim. Forgetting the fact that it is a centralized system.
One very clear fact every investor will look out for is how SECURE a system is. No body will like to be a victim of fraud. So there will first consider how safe this system is and the IEO provides it's users with the right amount of security needed. So since security is one key feature isn't his system, I will say it is therefore advantage for investment.
Also, for investment purposes, the IEO system will simply serve as the most advantageous for the provision of tokens for investors at a very cheaper rate. This simply show that it will be wise to simply use the IEO to get down tokens at cheaper rate and safe them for the nearest future to maximize profit.
Furthermore, the ability of knowing what is going to happen before it does is something magical. The IEO server as a foresight to investors giving them the opportunities to bet on tokens and projects that are yet to be launched. Hence, giving them an edge to get more gain on a later run.
With the above listed points, I will gladly say that the IEO is more advantageous for investment purposes, by allowing investors get tokens and yet to be completed project at cheaper rate is a good edge, and advantage for a better investment.
List advantages and disadvantages of participating in an IEO.
As there are benefits of things so are there disadvantages also. Therefore, as the IEO is advantageous for investors and also investment purposes, it still have its cons which are not so healthy.
ADVANTAGES:
Security This is one very important feature of the system. It provides secure and safer transactions for it users.
Purchasing of asserts at very cheap rate. With the advent of the IEO, investors are simply enjoying the leverages of low purchasing of tokens which can be later sold out for higher prices.
No fake tokens or project in the IEO system. Through the IEO systems, investors have no fear for projects that are fame or tokens that are either. This to say that all projects that are listed on the IEO are hence legit and there are high guarantee of success.
High Benefit Potential With the purchasing of tokens and projects at cheaper rate profits are guaranteed also, there are high support for projects that are yet to be completed through the leverage of pre-sale.
The system allow investors to purchase along side bet on tokens and projects that are yet to be out for sale.
DISADVANTAGES
As it is made to be believe, there guarantee of making gain is not definite for there is no concrete guarantee that the prices of the projects may increase.
There are hence, more direct to specific audience.
It is a centralized system: This simply imply that participation will be to limited individuals.
There are un-static and varies from investor to investor.
Explain how to participate in an IEO, for the process explore various exchanges, choose one of them and explain the process. (Use from screenshots.) (No need to participate, just register, present proof of verified account and explain the whole process, do not use Binance)
In the participation in IEO project, it is a wise move for investment but caution should be taken, a detail.analysis of the project should be done to avoid been caught up with something that isn't working.
The IEOs are presently attaining power, it is therefore expected that one can find many of them(this IEO projects) circulated around several exchange platforms.
Once an IEO is found that makes sense for you, you will therefore need to examine which exchanges are hosting the mass sale.
Then the next step is to register an account on the cryptocurrency exchange that does have mass sale. Furthermore, there will be need to complete the KYC and all verification processes.
Hence, once this step is complete then, it js time to examine the cryptocurrencies that can be used to contribute to the IEO.
ACCOUNT SETUP
The fiest thing to be done is t to visit the official site of coincodex.com, a home page will load as shown below.
[Screenshot taken from coincodex.com]
On the top left conner of the page, there are 3 lines i clicked there and a sub menu came up having list of items inclusive account set up i cliekced on it.
[Screenshot taken from coincodex.com]
Once i clicked on account set up a sub menu came up i filled the required details and then i was Mandated to verify my email as shown below.
[Screenshot taken from coincodex.com]
[Screenshot taken from m.kucoin.com]
As an example of a project that had a successful IEO, explain that project. Be on topic. (Use from screenshots.)
There are also multiple successful launchpads of Binance like GIFTO is another lunchpad by Binance with a sale of Over 30 million tokens per minute. Below are details of this project.
IEO BINANCE launchpad
Token BTT
Lunch date 3, January ,2019
Initial price $0.00012
Current Price $ 0.002846
CONCLUSIONThis lesson so far has being gn very impactful all thanks to Prof.@nane15 for this very interesting lesson.
In a nutshell, the IEO is a better form/means of investment for start up investors with low capital reason beign that the projects and tokens on the IEO are hence cheap and easily affordable.
For security reasons it would be wise to run a detail analysis on a project before investing on it.
Tha kd for reading.
Best regarsa.
CC:@nane15
CC:@steemitblog