Investors in Shipchain Initial Coin Offerings mourns their losses following a rapid decline in its ICO from $30 million dollars to $28.8 million dollars. This has left investors with a bitter taste in their mouth and virtually nothing from the investment.
There was an upsurge in audience’s interest in Shipchain’s ICO cryptocurrency last year. In December, 2017, promoters of “Shipcoin” launched articles almost everyday referring to Shipchain Initial Coin Offerings as a revolutionary platform.
What Is An ICO?
An initial coin offering simply put is nothing more than an offer of investment opportunity. “Initial coin offering” (ICO) is the sale of tokens. This it because it is applicable just like an initial public offering of stock. A “White Paper” of about 15 to 20 pages containing the projected purpose for the token, the technology behind it, the biographies of the promoters, and the sales that the promoters aim to have for the token is placed on a website.
Promoters then open up a sake for the token for a particular period of time. At the early part of 2018, investors were really interested in ICOs. This huge interest in cryptocurrency was eventually egged on by the well-publicise success of Bitcoin. Bitcoin lost about 80% of its value in 2018.
Investors In Shipchain At A Loss
According to reports from Shipchain on their Initial Coin Offering (ICO), they received investments worth approximately $30 million dollars. According to reports from Coin Market Cap, the Shipchain ICO is down nearly $28.8 million dollars this year. This reduction has left investors in the ICO with virtually nothing.
Most investors in Shipchain were those who didn’t get the chance to invest with bitcoin. Many of them wanted to get in on the action and so got carried away by the hype of the cryptocurrency market place. They invested without getting adequate information about the token and about those promoting it.
Most investors do not know that some initial coin offering may take advantage of their naivety. They do this to dodge federal and state system that are put in place to regulate their actions and protect investors from fraud.
In several cases, investors during ICO recieve nothing in exchange for their contributions. Most times promoters promise to build an online service for which the coin will be the only acceptable currency. As of now none of such platform or online services are running.
An investment that tries to elude regulatory systems destroys the level playing field between investors and promoters. It also takes away the legal protection of the investor. People who Invested in the Shipchain Initial Coin Offerings have taken to the internet to lament their losses, and to direct their numerous complaints to John Monarch – CEO Shipchain.
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