The world of cryptocurrencies can be a confusing one. With so many acronyms, new companies, and new ways to invest your money, it can leave you with a headache. What is the exchange rate pound to euro Ramsden? What is the Bitfinex price? What is a “billions episode guide”? Don’t worry: You have questions, and we have answers.
Is It Safer to Use an IEO?
The top reason many use an IEO is that it is safer. Safer than what, you might ask? More reliable than the traditional ICO way of trading cryptocurrencies. Before, if you wanted, say, to pay for dissertation writing services using Bitcoin or another cryptocurrency, you had to exchange money directly for the crypto. Then you could use that currency, type in “UK essays writing service” or “write my essay,” and you would be able to pay for essay writing service UK style. But there was no real security. You could easily get scammed, instead of having your coursework done. You could easily go from Googling “UK essays” and “how to write a dissertation” to “How do I get my Bitcoin back?” IEOs are less likely to be a scam than the more traditional way of using cryptocurrency.
What Is an IEO? Is It Safe?
In layman’s terms, an IEO (Initial Exchange Offering) is an intermediary between the group that has the cryptocurrency and the person looking to buy it. No longer do you have to get the currency directly from the development team in charge of creating it. Now you can get it from a reliable platform of people who act as a go-between. The IEO also acts as a bit of a safeguard, since most would find no real profit in working with developers that can’t keep their ends of the bargain. This means fewer scams for you to worry about when using cryptocurrency. So, for those looking for assignment help, as in our last example, you could put a bit more faith in IEOs than the standard ICOs of the past. The chances of them ripping you off are slim.
Taking the Mystery Out Of IEOs: Why They Work
Exchange sites protect you by protecting themselves. These Exchange sites only profit when they do their due diligence, really looking into whether or not this new cryptocurrency is a scam. They’re also free to back out at any time, and they’re not afraid of doing so. Simply put, they don’t want anything to do with a shady deal and won’t work with them. If you only invest through IEOs, that means you are far less likely to end up being scammed. Not as confusing as a dissertation methodology, is it? To put it shortly: IEOs make the most money when they keep you safe from scams.
Is Their Profit Above-Board?
Of course, nothing is done for free. There’s no such thing as a free lunch. Those who dance must pay the fiddler. There are a hundred thousand of these sayings, but it boils down to the fact that you can’t expect this amount of security for free. Many IEOs make their money by taking small percentages of the sales gross. They don’t really have a lot of expenses (most run on preexisting software infrastructure), so they don’t charge a great deal, either. You can sometimes receive a discount on this by using the Exchange’s own cryptocurrency or token. Many find that the added security is worth the expense. The fact that the money they make isn’t disguised or hidden away makes it more likely to be safe to do business with. Most scams aren’t this open about their revenue.
Final Verdict: Is it a Scam?
The short answer? Probably not. The long answer? There’s really no way to be sure. Many of these Exchanges are certainly above-board and are careful of the currencies that they allow to be exchanged on their platform. But there are always a few bad ones in the bunch. To be sure that you’re using a good IEO, make sure that you do your own due diligence. Make sure they’re on the up-and-up before you give them any money.
The cryptocurrency world can be confusing. Now, with the addition of IEOs, it’s gotten even more tangled. Hopefully, this has helped you see the light a little better.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing. follow me on twitter at @sagar2803 or reach out to him at sagar[at]coingape.com