The phenomena of Initial Coin Offering (ICO) has led to a new craze in the cryptocurrency world as it helps to raise funds for new projects cost-effectively.
Let Us More About Its Relevance and Reasons for Its Popularity
- The funds will be planned to be raised for a blockchain project via an ICO.
- A professional whitepaper will be presented, other technical details will be shared and the roadmap of the company would be described.
- The project will be publicized through aggressive marketing and social media campaigns across various channels.
- The number of tokens available for sale and the target amount of funds to be raised will be known among the investors interested in the project.
- The tokens will be purchased by the investors in exchange for popular cryptocurrencies.
- The tokens will also be listed for sale on the leading exchanges in the market.
The Factors to Consider While Participating in ICO’s
- All the leading social media platforms and discussion forums will have details about the current and upcoming ICO’s.
- Create an exchange account after you have decided on the project of the company that you will invest your money in.
- Set up a crypto wallet for the transfer of funds and for storing your tokens safely.
- Undertake due diligence to avoid becoming a victim of scams or frauds.
- Utilize ICO calendars and ICO rating sites to evaluate the credibility of an ICO. Those platforms will provide you with additional context by sharing further details about the project.
The Benefits Offered by Participating in ICO Development
- Since they offer valuable tokens, it makes their projects highly unique. The tokens will consist of all details about the various processes.
- Less time is taken to execute the entire project through token creation, fund collection, whitepaper preparation, and website development increasing its chances for success.
- All the investors will know the daily status of the project by accessing the distributed ledger placed on the immutable blockchain network. This decentralization will prevent any incidents of fraud.
The Things to Keep in Mind While Evaluating ICO Dashboard Development
- Focus on the strong points and some weak links present in the business model of the project. Get detailed information from blockchain specialists regarding the return on investment.
- It is better to invest in an ICO which has a solid team behind it, a renowned venture capitalist, and a proven track record in the crypto-asset industry.
- Check out the feedback given by other investors on platforms like Reddit, Twitter, and Facebook. Ignore paid reviews and bounty posts.
- Have a look at their competitors and check if the business fundamentals match with other companies.
It is necessary to analyze the benefits, consider the risks, and the potential legal upswings before deciding to invest in an ICO.
The Steps to Follow to Involve in ICO Creation Service :
- Analyze if your project really needs an ICO – Study the current market conditions, the needs of your target audience, and the economics involved in the token before setting up an Ico creation platform. For your token to survive the intense competition, it has to fetch high demand. The money will not be fetched for your project if you are using your tokens unnecessarily.
- Check out the strategies followed by your competitors – Look at the practices of your competitors offering similar service to yours. If they follow any unique techniques, try to integrate them into your business for your benefit.
- Comply with the legal norms according to your jurisdiction – With ICO’s attracting the interests of regulatory bodies due to the huge number of scams, it is important to pay close attention to any changes in regulations. Many ICO’s have shut down abruptly or swindled money away from the investors. This has resulted in countries such as China and South Korea banning ICO’s. It is also necessary to follow KYC (Know Your Customer) verification mechanisms. Hire a well-versed lawyer to ensure that you stay on the right side of the law. Be transparent in disclosing your expenditure, sources of funds, taxes paid, and fiat withdrawals.
- Start creating a valuable token for your ICO – Fix a solid distribution plan for your tokens. It will have different stages such as a private sale, pre-sale, actual ICO, and a general sale. Decide the supply of tokens, the number of tokens reserved for the team members and founders of the project, and circumstances where you issue additional tokens. Most of the tokens are issued on Ethereum, Hyperledger, and Waves platforms.
- Prepare a detailed whitepaper- Hire a knowledgeable professional to write your whitepaper. It is like the prospectus of your project and should include details about your vision, market analysis, business goals, benefits offered to investors, the token distribution strategy, legal terms and conditions, description of all your team members, and other advisors for your project. Make it flawless so that no one can expose any faults within it.
- Design a good website – Since your website acts as the first point of communication with interested investors, make sure you have a sleek design and easy navigation. Have separate sections for information about your team, token, the roadmap of your project, and links to your social media platforms. Ensure that it is SEO-friendly and invest in robust security practices so that it does not crash during the official launch as it must be capable of handling huge amounts of traffic efficiently. Include high-quality photos, a short presentation video, and your contact information.
Follow all the above guidelines while initiating your ICO launch services in the market. Get strong market demand for your tokens by satisfying the interests of your target community