ICO Development has one of the most popular ways of fundraising for companies. While they can be highly profitable for both investors and companies, there is a huge amount of risk involved due to their unregulated nature. Despite this, the vast majority of ICOs are scams, but many individual investors still participate. This paper investigates why humans invest in ICOs, using behavior finance biases.
Advantage of ICO:
- It is a great way to invest your cryptocurrencies
- It is possible to get rich returns
- High token economic liquidity
- You can invest directly through optimistic
After inspecting the white papers, ICO expert opinions and individual investors' testimonies, the research found that the overconfidence bias and herd behavior, and fear of lacking out bias influences people’s decision to invest. Using the results, this study makes recommendations to help regulators to limit the influence of behavior finance bias.
The major advantage ICOs offer to investors is their liquidity. ICOs offer investors an opportunity to create substantial gains quickly. Almost everyone and anyone can invest in an ICO.
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