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Identifying The Potential Risks Associated With ICO

Identifying The Potential Risks Associated With ICOPart 3 of 4

Mar 8, 2022 - Barcelona, Spain - The fintech sector embraces ICOs (Initial Coin Offerings) as a fresh new approach to raising money. They are even said to have the ability to displace conventional venture capital-driven startup funding. However, there are a few drawbacks to this growth. ICO investing is hazardous. Scams are prevalent and detecting fraudulent projects at first glance might be difficult. To keep it simple, a few words of warning are in order: Learn to be on the lookout for specific warning signals that tell you to proceed with caution, if at all.

  • Is the project's goal something you could do, or is it just a lot of buzzwords like AI, blockchain, decentralized, and so on? In general, it's best not to invest in something you can't explain or that seems too good to be true.

  • Is the project worthwhile? If it doesn't accomplish anything, it won't gain much traction. People will buy something only if they feel it is valuable. Otherwise, what's the point? If you're unsure, the classic duck test is an excellent way to find out: "If it looks like a duck, swims like a duck, and quacks like a duck, then it's probably a duck."

  • Is there a need for blockchain in the project that the team is working on? Is it possible to complete the project without utilizing the technology? Ensure the whitepaper for the project explains why it requires a blockchain and how the blockchain will be used in its future product. Look for truly disruptive initiatives that immediately employ their token with a unique service following their ICO.

  • Don't just take people's word for it on the internet; instead, conduct your study on a topic you're interested in. Read the white paper and look into the owner's and C-suites background before investing. A thorough background report request shouldn't be an issue.

  • Regardless of how large or tiny a project appears, it must always have a firm, up-to-date comprehensive plan that specifies all the project stages, including past and future goals and milestones. If an uncertain road map is any indication, something has gone wrong. Once again, double-check your sources.

Even though a project meets all of the required criteria, there is no assurance that it will be successful. However, being cautious makes it much easier to avoid most fraudulent ICOs based on hype and detect scams in time. You are far more likely to invest in an ICO worth your time and money if you identify con artists before they identify you as their next victim.

About RoRa Group, Inc. 

RoRa Group, Inc. is a collection of disruptors who have embraced blockchain technology in order to identify and eliminate the existing inefficiencies and outdated processes that have plagued previous models. The firm was founded by bankers, cryptocurrency specialists, Fintech consultants, and other alternative investment experts. RoRa Group, Inc. is paving the way for digital monetization, allowing asset holders and financial institutions to buy and profit from stable coins and gold coins for their assets. Our objective is to provide 1 million investors and high-quality asset holders the opportunity to benefit from the economic prosperity that a blockchain future promises.

Media Contact
Company Name: RoRa Corp
Contact Person: Alessandro Dos Santos
Email: Send Email
Phone: +18338530322
Address:Av. Ejército Nacional Mexicano 453, Chapultepec Morales, Granada, Miguel Hidalgo
City: 1 1520 Ciudad de México, CDMX
Country: Mexico

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