ICO, Initial Coin Offering, also known as token crowdsale, is an unregulated means by which startup cryptocurrency companies fund their projects. Startup crypto companies launch a project while asking the public to buy into their projects with Bitcoin or Etherum or fiat money. The buyers get the companies subsidized tokens, while the companies get the buyers cryptocurrency or fiat money to fund and develop their projects.
An ICO campaign like IPO runs for a set time and with maximum tokens available for sale. Once this is reached, the campaign closes, and if the goal is achieved, then the company will commence the promised project with the crowdfunded capital. But if the target is not reached i.e. if, by the time the campaign ends, the capital raised for the project is insufficient, then the company will refund all contributions.
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