ICOs and You, How China has Impacted the ICO Market

As Bitcoin and other cryptocurrencies grow, more altcoins are popping up like weeds. New altcoins have developed a particular strategy to explode onto the scene: The ICO. What are ICOs? Should you invest in one? And how has China shaken up the game?

What is an ICO?

An ICO, or Initial Coin Offering, is just like an IPO for stocks. In an IPO, you issue a certain quantity of stock at an opening price, which provides investment money for the business. Like an IPO, an ICO allows investors to grab a piece of a project. The funding that comes in can be used to develop a business or invent a product.

In a way, the term “coin” is misused here. What people are selling you are tokens, which are basically stocks in the company. These tokens are traded on cryptocurrency platforms such as Ethereum or Waves. So you can buy a new company’s token with Ethereum, hope it rises in value, and make a killing. Or at least that’s the idea.

ICOs are the Wild West of Altcoin

The problem with ICOs is that, right now at least, they’re unregulated and completely lawless. You can find a whole lot of garbage ICOs. Just look at https://www.coinschedule.com/ to see some of the latest offerings. Among these are obvious jokes, like the F**k Trump coin. But there are plenty of questionable startups that might not be legitimate.

The whole scenario resembles the crowdfunding revolution of a few years ago. Some of the offers were legit. Some were scams. Some had good intentions and couldn’t reach their goal. Others overpromised and underdelivered.

Right now, we’re in the same hectic Wild West of altcoin.

China Bans all ICOs

In response to the chaotic whirlwind of ICOs, China killed them. They’ve put a ban on all ICOs in China, which severely limits their potential for growth. Most experts speculate that the ban is only going to be temporary. Once the government figures out a better way to regulate ICOs, they’ll be back online.

However, this ban had massive implications for the crypto market. Cryptocurrencies fell in trading by around 5-10%, although they’ve recovered since then. Ethereum, most notably, suffered as it’s the largest ICO platform available.

It also puts the ball in the US’s court. Silicon Valley is thriving with ICO opportunities. China’s positioned itself as the most dominant player in the cryptocurrency game, but this ban kicks the door open for more US startups to embrace Ethereum.

Invest wisely in ICOs

If you decide to get in on an ICO, make sure you do your due diligence. Read up on the startup and what it offers. Focus on business ideas and products that could have a major impact on the market. Insist on seeing proof of concept and a business plan. Too many ICOs right now are unprofessional money grabs with no promise of potential rewards. Invest wisely, and you’ll be glad you did.

 

Buy Modafinil with Monero

Ready to shake the shackles of credit cards and cash off your feet? The wait is over: Now you can buy modafinil on Modup.net with Monero! Best of all, you’ll get 33% off your order when you use Monero to buy modafinil.

Why use Monero to Buy Modafinil?

Monero, like Bitcoin, is a crypto-currency, or digital cash. But unlike Bitcoin, privacy is Monero’s #1 strength. You’ll be stealthier than a ninja in the dark with Monero, since the transactions cannot be traced. And let’s face it, privacy online is getting harder and harder to come by. Websites track your every move, companies sell your data to advertisers, and hackers break into accounts on the reg.

With Monero you can avoid those digital disasters. When you buy modafinil from Modup.net with Monero, your secret is safe with us. No credit card records, no evidence left behind. Just one happy customer.

How to buy modafinil with Monero

Easy! We’ll walk you right through it. The first thing you’ll need to do is place an order on Modup.net. Just go to our home page and fill out the order form. Once you are finished, you’ll get an Order ID. Write this number down!

modup order placed

In order to keep Monero orders private, you’ll need to send us an email letting us know you want to pay with Monero.

Once you have an Order ID, go to the bottom of the page to find our “Order Enquiry Form” link.

order enquiry form button

Here, all you need to do is include Monero in the subject line, put your order number, and today’s date.

order inquiry

Our top-notch, 24/7 customer service team will send you an email giving you the final price (with a big 33% discount!) in Monero, and a Monero address to send the money to.

How do I pay for my order with Monero?

First, you’ll have to acquire some Monero currency. Because of its privacy, you can’t buy Monero with a bank account or credit card online (and don’t trust sites that say you can!)

What you need to do is purchase Monero with Bitcoin. There are many ways to get Bitcoin, covered in a series of guides here at Modup.net. The important thing is to have enough Bitcoin to buy the amount of Monero you’ll need. Check out the Bitcoin to Monero exchange rate online here. It’s a good idea to get a little more Bitcoin than you need, just in case the Bitcoin price fluctuates.

Buy Monero on Shapeshift

Shapeshift is the the Millennium Falcon of crypto-currency exchange. No accounts, no logins, no BS, just a lightning-quick network of people looking to swap Altcoins. Efficient and elegant, we highly encourage you to use Shapeshift. But before you do, you’re going to need a wallet for Monero. Shapeshift never stores your coins on its site, which is great for your privacy and security. So go to mymonero.com to set up a Monero wallet. All you have to do is click on the Create a New Account button.

mymonero account created

Yes, it’s that easy. Scroll down and you’ll see a pass phrase of about 10 words. Write this down! You don’t need a login, just this pass phrase. Quite simple really. Just don’t lose it.

Once you’re logged in, you’ll see an address that you can use to deposit Monero.

Mymonero wallet

Copy this address to the clipboard, and head over to Shapeshift.io.

Shapeshift homepage BTC to XMR

Click on the currency symbols to open up the menu. The goal here is to receive Monero. When you’re ready, click continue.shapeshift purchase page BTC to XMR

You’ll notice that the “instant rate” fluctuates every few seconds. Just like a real life exchange rate, the exact amount moves in small increments. The jumps may seem like a lot, but in reality they represent fractions of cents. So don’t panic.

Shapeshift works by requesting two things: A destination address for the currency you want to receive, and a refund address for the currency you are paying with. The refund address is just in case it can’t complete your order.

Plug in the address from your Monero wallet and your BTC wallet, you can see that mine matches the address that MyMonero.com gave me.

Shapeshift purchase BTC to XMR Completed

Agree to terms and start the transaction. You’ll then see this screen.

Shapeshift order generated BTC XMR

Here, Shapeshift gives you a deposit address. You need to send your BTC (or whatever currency you’re paying with) to that address.

The amount that you send will be converted to Monero. Do the math: How much Monero do you need to pay for your Modup order? What was the exchange rate? Here’s an example:

  • If you need 25 Monero (XMR) to pay for your order,
  • And the current rate is 1 BTC to 65.2014 XMR,
  • Divide 1 by 65.2014 = the cost of 1 XMR,
  • Multiply that number by how much you need to pay Modup (in this instance, 25)
  • The final result is how much BTC you should send.

It’s a good idea to round up to cover fees and possible fluctuations. You can always sell the extra if you need to.

We know, math sucks. Just remember, you’re saving 33% on your order. Now that’s some fun math.

When you’re done depositing the order will change its status and after the Bitcoin network confirms the deposit, your Monero will be delivered to your MyMonero wallet.

You’re almost done! All that’s left is to send your newly-bought Monero to Modup.

Go back to your MyMonero wallet and this time click send. Input the address that we gave you, and a Payment ID if specified. Put in the correct amount and click send.

MyMonero send funds

And that’s it! You’ll get a confirmation that the transaction was successful and shortly after we’ll email you with shipping details. That wasn’t so hard. Just a couple of extra steps, and in 15 minutes you’ve guaranteed your privacy and saved yourself 33%. It’s easier to buy modafinil with Monero than ever with Modup.net.

If you need any help along the way just get in touch with our customer support. Altcoins can be a bit confusing the first time around, but pretty soon you’ll be a crypto-currency captain.