Some people may be familiar with the term unicorn when it comes to investing. This refers to startups that reach a value of over a billion dollars. Whoever, in the current day and age, such startups are far from uncommon. There are almost three hundred such startups, including famous ones such as Uber. However, most of the people who invest in these startups are big shots on Wall Street, not regular Main Street investors. However, that is all different when it comes to cryptocurrencies, and that is what Ian King, the famous cryptocurrency expert, is referring to when he uses the term cryptocorn.
Blockchain technology is not that new now. Bitcoin went up by over one thousand percent, but Ethereum went up by over twelve thousand percent in the same time period. The fact is that so many average investors are able to invest in Bitcoin and other cryptocurrencies. Not only that, but you do not have to be an investor at all. Investing in Bitcoin is a lot easier than investing in stocks. All you need to do is download the Coinbase app and start investing. It really is that simple. That is one of the reasons why the prices keep going up so quickly. The fact is that there are so many people who are rushing to buy Bitcoin. That is driving up the prices more and more. Read more about Ian King at BanyanHill to know more.
Altcoins are very popular. Altcoins start off with Initial Coin Offerings, similar to Initial Public Offerings and crowdfunding projects. People pay money upfront with the expectation of receiving a certain amount of coins later on. Hopefully, they will have made a return on their investment. In order to buy bitcoins, you need to use an established cryptocurrency, usually Bitcoin or Ethereum.
The current rush for cryptocurrencies can be compared to some sort of digital gold rush. The difference between cryptocurrencies and tech startups is that cryptocurrencies are open to everyone. Anyone can invest in cryptocurrencies. Anyone can join in when a new coin is being launched. ICOs are open to the average Joe right from the beginning, unlike big startups that are open to a select few until they go public.
— Ian King (@IanKingGuru) January 9, 2018