Crypto is still a sector that is full of excitement as well as uncertainty. Although the market has evolved greatly in the past few years, it still has miles to walk to get to a point of complete success. Crypto market is subjective to high risks but that isn’t stopping people from trying their chances because the higher the risks the higher are the chances of success. Whether you are someone looking to invest in an ICO or planning to launch your own ICO, in this article we are going to tell you about some tips that will help it be a success. As an investor, you’ll get to know about what ICO projects you can trust and as a startup founder, you’ll get know about things to do to make your ICO successful. Let’s not waste time and start with it right away.
Things To Do To Make ICO Successful
Start From The Scratch, Prepare A Compelling Whitepaper
The First thing to do to make your ICO working is preparing a white paper. If you are going to launch your ICO, a white paper is a must. We hope you weren’t planning to go live without it but there are a few things that you need to remember before preparing a white paper for your ICO. as it is going to be the foundation of your project, it should be prepared in a perfect way, make sure you won’t leave any gossip to go against your project and leave a good impression on your future investors. Cryptocurrencies have come past the time when investors used to fund ICO projects without reading their white papers. At the moment, there’s already high competition in the market and investors have so many options to choose from. There no way one would choose a project with no white paper over a project that seems officially legal in their eyes. No one is going to believe you and your talks unless you prepare an official white paper and that too a compelling one to prove your project worthy.
To know how to create a good white paper read our article A Complete Guide On How To Write The Most Compelling White Paper. A successful white paper might not guarantee the success of your ICO, but a problematic or no white paper can surely cut your chances of being successful.
Prepare Your Business Strategy
Well, if you are stepping out to do business in the crypto world, don’t expect to succeed unless you have a proper business plan. Although this goes unsaid, it is an important step and worth mentioning. Your focus should be to earn profit from your business and that’s only going to be possible if you have a clear vision about how everything is going to work out at each step i.e. if you have a prepared roadmap for your project.
Focus On Team Of Professionals
What investors need is security and trust from a project and that is only going to happen if you have a team of dedicated professionals. Don’t only focus on representing the team charming on whitepaper because when the investors will do some research they’ll learn the truth already. If you want your ICO to be successful, it should consist of experienced as well as qualified professionals capable of taking your project to the heights. Moreover, you can also attach the resumes and social account buttons of your team members on your website. This will help earn the trust of your potential investors.
Legal Attorneys and Advisors
After the team members come Legal Advisors and lawyers of your ICO. In order to find legal advisors for your company, you would need to do a little work. Look on the sites of ICOs and blockchain projects that have been successful in the past and contact their legal advisors. On the other note, the more advisors you will get, the chances of your ICO of being a success will increase. Make sure your advisor has some experience of working with ICOs or at least a law degree. If you can find advisors for your project you can also contract lawyer, the one with some experience in the crypto industry. Having a legal attorney would also help you with KYC and AML regulations.
Built A Community And Announce Your ICO On Multiple Platforms
This is really important step as people will only be interested in your project if they’ll know about it. So you should announce about your ICO on as many platforms as possible, at least the major ones. By major platforms we mean, all the social media platforms, ICO listing platforms as well as Discussion platforms. Some of the major social media platforms are Twitter, Facebook, Youtube, telegram, linedIn, Discord etc. Then you can get your ICO listed on ICO listing platforms like ICOAlert, Coinschedule, ListICO etc. at last comes the discussion platforms that includes Bitcoin Talk, Medium, Reddit, and GitHub.
Besides, you should also engage in interviews and visit conferences where you can promote your ICO, pitch it to the industry’s veterans as well as make connections with highly experienced advisors.
Make Sure To Secure Your ICO From Hackers
At last but not least, comes the security of your ICO. ICOs are a one-time thing and company’s collect tons of funds in this time, so it is important that you maintain the security of your websites. Get your smart contract examined by specialists so that you won’t face any issue with it in the near future. You might have to invest a little more here for hiring a specialist to audit your smart contract but at last, it all would be worth.
These were the things you need To Do To Make ICO Successful. You can also read our article about the Common Mistakes To Avoid While Writing An ICO White Paper, to prepare a dazzling white paper for your ICO and attract tons of easy. Apart from all these tips, we hope you have done your thorough research and reviewed other successful ICOs. This would help you understand the whole process of ICO and analyze any issue with your ICO as well.