BitBoy crypto took a look at the Polkadot ecosystem and revealed secret venture capital firms don’t want people to know about Polkadot IDO.
Initial DEX Offering
An IDO can have different names. It may be called an initial DEX offering, initial DOT offering or initial digital offering. Polkadot IDOs are the hottest thing going on for degen traders, even though people feel like they could be a gigantic bubble. Degen traders are traders aping into signals and FOMO into pumps without doing any research. Essentially, a degen trader buys into an asset not because they see value, but they belief that others will join in after them and speculate on the price swings. Ben has revealed his best strategy when it comes to investing in IDOs and new Polkadot coins.
Initial Coin Offering
Many people think IDOs are the ICOs of the current bull run. ICOs took over the market between 2017-2018. ICO stands for Initial Coin Offering. This gives investors opportunities to bet on ideas behind particular coin, team and potential before it goes live on exchanges. The term ICO is a taboo in the crypto community today because a lot of people who got into these coins late got wrecked, especially during the bear market because there were almost no winners during the time. There were some massive successes with some ICOs in 2017. NXT(NXT) had a 1.2m% return, IOTA(MIOTA) 424,000%, NEO(NEO) 378,000$, Ethereum(ETH) 279,000% and so on (1:15).
Initial DEX Offering gives investors the opportunity to buy tokens on a decentralized exchange, unlike Initial Coin Offering put out by centralized entities,-+ meaning they have vested interest in the launch. All of the responsibilities for success are on the project itself with IDOs so the launch is less exposed to manipulation.
IDOs are good investments and can be thought of in 3 time phases, initial launch, post-launch and the longer time frame. People who get in early private rounds will most likely make money. Venture Capital sells 100% of the initial allocation they received so people who get in hours after the launch will most likely get wrecked.
BitBoy’s IDO investments
Three Polkadot IDOs Bitboy is invested in right now are PolkaProject Index, Dora factory (DORA) and Polkamon(PMON). Polkamon launched on March 31st. BitBoy says people can still make money after missing out on the launch of these IDO projects if they exercise patience and wait. He says the best thing to do is wait for the bottom when the venture capital firms have dumped all their allocations. There was a similar pattern with Plasma Pay(PPAY) and Alliance Block(ALBT) plummeting to the ground due to selling pressure but later did 20x from the bottom in only 3 months (7:00).