769 times break in 2 days, how to play IEO without getting cut?

Author: Xiaoyan

Author: Xiaoyan

Grabbing is earning, this is the view of all currency players on IEO.

I wanted to take advantage of the IEO trend and take advantage of the IEO trend, but I was slapped in the face by Bit-Z’s IEO gameplay. It fell from 0.02 USDT to 0.000026 USDT in two days, a drop of 769 times.

This kind of cutting method is extremely rare in the high-risk currency circle, and it is simply unconscionable. In Zhuge Liang's words: I have never seen such a brazen exchange!

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Bit-Z’s IEO event story

First, Bit-Z made an alliance station Bit-M.

Then the IEO project - NCMT will be issued on the alliance station Bit-M. The conversion ratio is 1USDT=50NCMT, and the price of one NCMT is 0.02USDT.

I was expecting to be able to roll off the wool, but unexpectedly, a super waterfall came online. From the launch of the NCMT/USDT trading pair on April 16 to around 22:20 on April 18, the price of NCMT fell from the crowdfunding price of 0.02USDT to 0.000026USDT in just two days, a sharp drop of 769 times.

Bit-Z also opened NCMT/USDT trading at 15:00 Hong Kong time on April 16, 2019. Perhaps to clear the relationship, Bit-Z removed NCMT at 18:00 Hong Kong time on April 18, 2019.

Subsequently, Bit-Z users were compensated with 1 million Bit-Z platform currency BZ. One BZ is about 0.11 USDT, and 1 million BZ is worth 110,000 USDT. The total amount of NCMT on Bit-M is about 666 million, and the issue price is 0.02 USDT, which is about 13.33 million USDT.

You lost 90 million RMB, and in the end you only paid 110,000 US dollars.

This is the beginning of the tragedy, and various IEO cutting methods emerge in endlessly, and this time Bit-Z is cutting to the extreme.

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So is IEO still worth participating in?

Let’s first analyze the IEO routine. The exchange exclusively launches IEO projects, but at this time many coins have not been unlocked, resulting in less circulation on the market and exclusive listing. This is the high-control mode. The IEOs of mainstream exchanges basically have a high multiple as soon as the market opens, because the chips are concentrated, and it is relatively easy to increase the price of the currency at the opening. Of course, this is only a short-term high multiple. You can see that Binance’s BTT and FET are basically going downhill in the later stage, because the development of the project depends on the project itself after all, not hype.

So will you still participate in IEO? I think most people will go, because it is profitable in the short term.

Seeing that IEO is so hot, even if there is a pitfall, there is an urge to participate. After all, no one wants to miss the opportunity to make money. So I compiled an IEO anti-cutting guide, hoping to help everyone participate in IEO.

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IEO Cut Resistant Guidelines

1. Choose a good referee, not all exchanges are Binance, try to play mainstream exchanges.

2. The first IEO project of a mainstream exchange is more worthy of investment.

3. IEOs that require KYC are fine, because KYC is too expensive. If you buy KYC, the probability of winning the lottery is not high, so it is not worth it.

4. Another stable way to participate in IEO is to buy platform tokens. You grab and grab them, and finally find that it is better to buy platform tokens before. But don't stud, the opportunity cost is too high.

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Summarize

IEO is a very good choice as a short-term operation, but one thing to realize is that most of the IEO projects are inferior products, and the awesome projects have always been actively listed on exchanges, and there is no need for IEO at all. In the long run, the value of the project will ultimately depend on the project itself, not the IEO hype.