Digital or virtual currencies known as cryptocurrencies are made to secure online transactions without the need for intermediaries. Blockchain technology with shared distributed ledger and the creation of the cryptocurrency Bitcoin led to development of a new method of raising capital and financing for many projects, and a way of achieving a good return on investment for investors using a global phenomenon that is attracting more and more public interest, especially after the skyrocketing value of cryptocurrencies. Initial coin offering, unlike traditional methods of fundraising such as initial public offerings, crowdfunding and others, uses cryptoassets called tokens that have their own blockchain and can be used for financial transactions. The advantages of ICO are quick capital raising, high liquidity and availability, minimal capital raising costs, as well as the absence of geographic restrictions, since blockchain technology can be accessed from any part of the world with the use of the Internet, and for investors a quick return on investment. The initial offers of cryptocurrencies and blockchain technology also have risks due to the appearance of an increasing number of fake ICO tokens, as well as the lack of legal regulation related to the business of cryptocurrencies.