When every investor is looking at the possibilities of cryptocurrencies considering the surging prices of bitcoin, the investment advisory firm, The Oxford Club, explained about alternative cryptocurrencies that are generally called as altcoins. It says that the success of bitcoin created a flood of cryptocurrencies around the world. Also, there is an expansion of market where the cryptocurrencies become more liquid which can be transacted around the world. It also created a situation that virtually anyone can create these currencies their own – the concept of altcoins.
Post-2013, some smart investors became fascinated to move to the next level of it – alternative cryptocurrencies. However, until 2016, it was a quiet period for bitcoin and altcoins. When bitcoin got a surge, people started looking for alternatives, and more cryptocurrencies came to the market and became highly successful. Every new cryptocurrencies and altcoin are going through its launch program called Initial Coin Offerings or ICO, which work quite in the line of IPO in stock markets. It is generally an effort of engineers who create a token or a cryptocurrency.
When there is sufficient interest is created on the currency, they start improving it to gather more interest. Presale process to insiders or family and friends are a common phenomenon in the industry. Also, during the ICO handful discounts are offered to the buyers, and people start trading in it using a cryptocurrency exchange. Interestingly, the cryptocurrencies provide excellent proceeds and income for the creators. A large ICO could fetch $230 million in early 2017 called Tezos. It was producing a collectible of 8% of the entire proceeds, which is high according to the observations of The Oxford Club.
The Oxford Club is a leading financial advisor and publisher group headquartered in Baltimore. It is a global, private network of prominent executives, entrepreneurs, and investors. The group researches and introduces time-tested investment options and principles to make the members earning significant wealth.
The Oxford Club provides investment recommendations on bonds, real estate, collectibles, equities, options, funds, currencies, and precious metals. It gives trading recommendations, investment research services, monthly newsletters, financial seminars, and more. The Oxford Club has nearly 100,000 members over 100 countries.