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Altcoins and ICOs Explained in Plain English

August 8, 2017 11:03 118

An ICO is a fundraising operation for a project through the sale of cryptographic tokens. The tokens are sold at a discount and later on may be used within the project or sold for a profit. ICOs are unregulated and hold a lot of risk for uneducated investors.

Altcoins The term altcoin is short for alternative coin — as in, an alternative to bitcoin. Altcoin is a cryptocurrency alternative to Bitcoin — its name is a portmanteau of “alternative” and “coin.”Learn more, as alternative currencies to BitcoinBitcoin1$ 24,004.730.33%-0.76%4.93%details. There are four main factors to take into account when evaluating a cryptocurrency – Adoption, security, innovation, and incentives.

That’s ICOs and altcoins in a nutshell. For a more detailed explanation keep on watching the video, here’s what I’ll cover:

0:38 What are altcoins?
0:56 Why do we need altcoins?
1:49 How to evaluate altcoins?
3:56 What is an ICO?
5:36 The Ethereum ICO
6:23 A disastrous ICO example
6:52 ICO caveats
9:34 How to evaluate an ICO?
10:30 Conclusion