A Guide to Understand Tezos ICO Wallet
ICO stands for Initial Coin Offering. ICO is becoming a big deal with the increasing popularity of crowd-funding. The ICOs are becoming extremely popular since the year 2012 because of the increasing demand for cryptocurrencies and blockchain. ICO is great to raise funds for entrepreneurs. Let us understand how it works. For example, if you want to streamline the medicine payment system that can be encrypted and digitalized. You might want to call your currency medicoin.
Taking money from a bank might require giving out some amount of stake to the bank. However, ICO is more or less like gambling. Here, you have to make a website. They must understand that your company has a lot of potentials. They will send you crypto-currencies like Tezos, Bitcoin, and ether. In return, they will get Medcoin (Hypothetical coin of your company). Once the medcoin starts getting used a lot, it will increase its value. Hence, buyers can sell Medcoin at a higher rate. It involves risk, as there is no stake in the company. It is like gambling.
Anyone can launch ICO, and there is a limited regulation when it comes to America. Now let us discuss what is ICO Wallet. ICO wallet is software, which used for monitoring, transferring, and storing crypto-currencies. In block-chain technology, the ICO transaction can be recorded. If the ICO is transferred to the wallet address then, it belongs to the holder of that wallet address. ICO wallet helps ineffective trading of ICO.
Why Tezos ICO Wallet is required?
The Tezos is one of the popular types of crypto-currency. It is one of the top ten cryptocurrencies after Bitcoin. Let us discuss why you must create an ICO wallet.
- Security purpose
Most the ICO are immune to inflation since they have a fixed supply cap.
No central authority controls the ICO. Hence they are operated on a peer-to-peer basis. Also, since it is not centralized, it cannot be hacked easily.
- Minimum transaction fees
There is no inference of the third party, and the payment is done online. Hence, lower fees are charged while authentication of the transaction remains intact.
- Owned and user-generated
If you want, you can invest in mining hardware to mine your own ICO. You can store it in the Tezos ICO wallet easily after mining.
If you are a frequent reader of news and economic journal, then you would know that ICO’s can help you in providing easy yet big profits. Let us discuss how to buy these ICOs.
- Through the project website, register an ICO.
Every reliable project contains a website, which gives you information regarding the projects, their goals, and the number of funds required. Here, you have to register for ICO.
- Get Bitcoin or Ether
You can buy Tezos with either of these currencies to get Tezos ICO.
- Move it to your Tezos ICO wallet
We would suggest you move your currency to a reliable software or hardware wallet like Tezbox, where it is secured with passwords. You must opt for a reliable Tezos ICO wallet.