Cryptocurrency, Initial Coin Offerings

All You Need to Know About ICO Pools – Benefits and Risks

If you haven’t heard of ICO pools, you’re in the right place to find out more about them and their benefits. These are some ingenious inventions, and they’re also a significant help for navigating through the massive amount of ICOs that are currently flooding the crypto space. On the other hand, it’s also important to note that there are a few risks involves in ICO pools investing, but this should not come as a surprise, as the whole crypto world is a risky place to be in.

Benefits of using ICO pools

Saving time and effort

We already know how time-consuming and stressing it is to have to go through the thousands of ICOs available just to find the most promising one. ICO pool will offer you help by searching for the best ICOs for you and present them in the most straightforward way.

You get an extra bonus on token sale

Another benefit of using ICO pools is that many of them get more bonus from ICOs because they’re making massive investments and this triggers better deal negotiations.

Risks involved by the ICO pools

Scams

Professional ICO scammers have been changing the scenery for a while, moving away from ICOs into ICO pools, unfortunately. They are currently running legit looking ICO pools, and they present potential investors great looking ICOs, but when they send their fund to these scammers, they’ll be gone in an instant.

This is why you should pay high attention and only send your cash to ICO pools that you already know and trust and which have been recommended.

Going with the wrong ICOs

A lot of ICO pools will present bad ICOs that usually fail, and this also means that you can lose your money. That’s why is highly recommended to check the ICO pools’ investment history from forums or Telegram groups in order to avoid failing. If the pool doesn’t display publicly its previous investments and doesn’t allow open discussions, then it should be avoided at all costs.

Losing your money

ICO pools can also be hacked, and you should select only the ones that take security as seriously as possible. If an ICO pool manages funds manually, it’s best to avoid it.

Bribery

A lot of times ICOs pay the pool for selling their tokens, and this means that bribery can be involved as well. It’s recommended that you make sure that you are using a pool that puts its investors’ interest first.

Knowing all these dos and don’ts, we recommend giving ICO pools a try because they can save you lots of time and effort and help you succeed in the crypto space.

coinmag

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.