Potential and opportunity you are the two words you probably heard a lot but there is a topic you see few people mention, that is the potential risk from ICO investment.
So when I started doing this article, I wanted to address the issue of risk before including:
- Legal
- No binding documents
- Sharks manipulate prices
- Security risk
When you understand both the risks and opportunities, then the least expected investment will be more realistic, not overly greedy, or simply know in advance what risks are stalking. to have timely solutions.
Yes, at the beginning of the failure to lose, nor too sad to have determined to play there. Strong stand up and step forward.
Risk is also expected to not affect the total investment assets.
Here are some of the risks you need to know when investing in Bitcoin in general or investing in ICO in particular:
Legal
This is probably the most “headache” thing for both: the whole project and the investor.
Legal risk can lead to legal violations such as play so we should thoroughly investigate this issue before investing.
In some countries, it currently does not allow the use of electronic money (Bitcoin & other coin) with monetary functions, which means that if you use BTC, ETH or any coin to make a payment feature is illegal and may be subject to criminal prosecution.
However, if you look at electronic money as a commodity and buy it for the purpose of hoarding speculation waiting to rise in price, it can still be okay.No binding documents
Unlike securities, when you buy stocks, the property is yours and protected by law, when you buy an ICO, the coin will still be returned to your wallet normally but it will not be protected by the law. the law.
Your contribution, your coin purchase will not be documented by any paper.
In other words, after the successful capital call, if the development team is holding that money and running high, you can not do anything.
Even if they do not take away your money, other dangers still exist in the dev team such as using money in wrong purposes, worse yet, saying without doing..
To limit this, when evaluating projects, we will need to carefully check the information about the company, the founders to know that this is real people, reputable & completely enough The ability to do what they say.
Humans are capable of creating so many wonderful things.
One line of code, a presentation, a product ... all of them starts from humans.Sharks manipulate prices
The sharks here refer to individuals or organizations that hold a large enough amount of money to manipulate the price of a coin.
Normally, the coin the smaller the trading volume, the easier it is to manipulate.
A coin with a daily trading volume of 100 million vnđ, you only need at least 100 million you can make that coin.
Of course, it also depends on the technique to do more, but holding the money in hand without knowing how to do create the price is also useless, sometimes it leads to a loss also.Security risk
If you regularly read the daily news update, it is no strange to the news such as a ABC person has been hacked and has lost a lot of money ....According to my view, most of the causes of hacking majority comes from the user mainly.
Is not the user wrong?
No, they just don’t know how to protect their assets.
SOME IMPORTANT NOTES FOR YOUR SAFETY:
To secure your account, just remember to help yourself as follows:
- Never share a private key to another person.
- Always turn on 2-step security (2FA)
- Always check the website address you want to sign
- Always sign out of the account after use
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