Contrary to popular belief, ICOs and IDOs are not the same things. Initial coin offerings (ICOs) entail the selling of a new cryptocurrency to investors in return for older cryptocurrencies like Bitcoin or Ethereum. In contrast, initial coin offerings (ICOs) entail the selling of a new token on a decentralized exchange (DEX), with investors able to buy the token using other cryptocurrencies. Companies can utilize both ICOs and IDOs to obtain capital for the launch of a new venture, but the two mechanisms are distinct and function in different regulatory frameworks.