ICOs, Initial Coin Offering campaigns, are one form of crypto investments. It is an unregulated method for raising cryptocurrency funds to meet the demands of latest cryptocurrency business strategies. In expansion, ICO is actually a method in which the investors use Ethereum to buy a small portion of the released token by the companies. The reason why ICO is a solid mean of raising funds is the fact that not only do the companies receive a capital to run and develop their products, but the investors also receive a small part of tokens in form of percentage shares.
ICO may look like the ultimate way to achieving your company goals but it is a very demanding method. This ICO review has some solid tips which will help you in launching a profitable ICO.
Deduce your goals
Like every other investing campaign, ICO also needs a proper objective for its progressions. The goal or objective determines the direction of flow of the ICO campaign. Before you launch an ICO, draft your whitepaper as well as roadmap. The white paper shall include information like the solution of problem at hand, current goals and future prospective. Whereas, the roadmap drafts out the actual timeline of all the proceedings of an ICO, from launching till the results.
Form a solid governing team
Every intellectual business owner knows that for a campaign to be successful, skilled man force is needed for its proper execution and drive. Once you have determined your goals, build a strong team of ICO experts and cryptocurrency professionals. These personnel should not only be passionate about running your ICO but also have a sound ability to predict the outcomes and prevent the adversities. Aside from a governing team, a 24/7 customer support team will also boost up your ICO to manifold. The investors will not be able to completely understand your roadmaps in most cases yet; they’ll be equally willing to have a share in it. A proper FAQ section and social media support can work well to answer the most asked confusions.
Draft a pricing plan
Drafting a comprehensive pricing plan is an important part of an ICO review. Categories such as undetermined prices, fixed prices, Dutch auction and price rise ICO shall be defined and determined in this step. Once defined, a suitable pricing category shall be selected for a pricing plan.
Offer protection to investors
It is very likely that your potential investors may grow skeptical regarding your ICO considering their inability to understand it completely. Offer them maximum exposure to your strategies and team members through social platforms. Options regarding investor funds, escrow wallet and fund returns should be made available to the investors.
Initiate a presale
After giving a test run to your ICO, it is important to run a presale. This step will help you in connecting with a great number of investors through the bonuses and cheaper prices for the tokens. In the long run, a presale will rise in value for the participants. Therefore, it is necessary to add a presale in your ICO.