Shocking Things About ICO promotion
The year 2017 is nearing its end and a lot of ICOs are happening. With the growth of these digital tokens, there is also an increase in the number of people who want to promote them. These promoters can be seen everywhere on social media, with their wallets filled with digital tokens. There are various shocking things about the ICO promotion campaign that you might be unaware of!
1. Fomenting ICO
ICOs are widely used these days, and a lot of people think that they can make a lot of money by having one. However, it is shocking to know that this practice is illegal in many countries. The US government alone has declared it illegal in its jurisdiction.
2. Fake profiles
It is shocking to know that there are a lot of people who have fake profiles on social media for the sole purpose of promoting ICOs. One can encounter such a person in numerous social media platforms like Telegram, Slack, etc.
Even if you had the chance of meeting with such a person face-to-face and are willing to invest in an ICO that he promotes, you should be careful about how he asks for your investment. They will put some pressure on you by asking for an immediate payment which is not at all the right way to go.
3. Exaggerated returns
These promoters are paid very well for the services they render to ICOs. For example, they get 2 percent of what an investor invests in the particular ICO. However, this figure is not at all the accurate rate of return they would get. They are also eligible to get a significant amount of funds as referral rewards and bonuses.
4. Fake materials
A lot of people ask for fake materials, even if they are not involved with ICO promotion, in order to prove that they have done their part in ensuring proper marketing and communication. Unfortunately, it is very difficult for investors to know the authenticity of such materials the moment they receive them. Guest posting sites are here.
5. More returns from the tokens
A lot of people are surprised when they know that ICO promoters are also going to get a significant percentage of the tokens that are left in the possession of their clients. They can then sell them for a profit, or simply use them as they please, knowing that these tokens have been distributed in an honest way.
6. No liability
There is no legal liability for ICO promoters in case there is something wrong with the ICO. This means that if you want to sue an ICO promoter for doing something illegal, you will not be able to do so because there is no ruling which states he/she is liable under any circumstances.
7. No KYC
The KYC process is not required for ICO promoters, which means that anyone can get into this business regardless of their background.
8. Paying in Bitcoin
The payments made by ICO promoters are usually done in Bitcoin, with some exceptions. This means that these promoters are not at all interested in associating themselves with ICOs which do not involve digital currencies with manual backlinks and that they would try to make sure they get a good amount of money from the ICOs which use digital processing for transactions.
9. ICOs for ICOs
You might come across a lot of ICO promoters who are promoting their own ICOs, or the ones of people associated with them, in an attempt to increase their referrals and overall profits. This is a very cunning way of doing business and is something which you should be on the lookout for.
10. Stealing clients
There are some ICO promoters who are known to steal clients from other promoters. They have been known to do this by making use of social engineering techniques and by creating fake accounts in order to get hold of their clients’ information and steal them away from their original promoters.
11. Getting too many referrals
Some ICO promoters get a lot of referrals and then stop working because they no longer need to promote ICOs. This is something very shocking to know because they are making money off the hard work that other people do while they are already getting paid for their services.
12. Selling on exchanges
The tokens promoted by some ICO and crypto promoters never make it to the exchanges, which means that you would definitely be unable to sell them on such platforms. You would be better off just selling them as soon as you receive them because there is a possibility that they could lose their value before you even get a chance to sell them on an exchange.
ICOs are everywhere these days, with a lot of people trying to make some profit from them. There are a lot of shocking things about ICO promotion which you might not be aware of.