Right now there are many ICOs coming out, is it really safe to participate in any of it and spend that much? In participating ICOs I have high hopes that these coins could be the next Bitcoin or other currencies that are really going up in the market.
Like anything in life, investments come with risks. I have followed quite a few ICOs over the last year. Some have taken in Millions upon Millions and have done little to nothing to show for it.
Usually you find their White Paper full of promises and things they hope to do after initial funding is received. This leads to people getting false beliefs in an ICO and then that coin never performing as hoped. Most call these pump and dumps because someone puts a lot of money behind it to make it seem big, only to pull out and crash the coin.
That is why it is VERY important to do your research prior to investing and supporting any ICO! Make sure they are doing something unique and already have something accomplished. For instance Paragoncoin pulled in $40 million and has not even released their coins and only has 1 industry professional on board.
Electroneum also did $40million and has locked everyone out of their mobile wallets for over a month now!
DO YOUR RESEARCH!