Categories: Business

5 Simple But Essential Tips For Startup ICO Developers

ICO developers are true mavericks because they take on gargantuan tasks. Starting an ICO is going to take a lot out of you and it probably already has. Still, no one ever said that success comes easy, especially when the rewards can be quite lucrative. It is important to accept that you need a little help, and these tips will hopefully guide you in this launch.

IMAGE: LINCURIA

1. Have An ICO Launch Plan

Creating an effective and well-thought out plan is quite important, and those who think this tip sounds familiar are right because it is. Figuring out a plan is something every business has to do. Now, there is a lot you need to consider when coming up with this plan, like how the funds are going to be used and your compliance approach. You also need to be extremely clear on how investors are going to be able to collect their winnings afterwards. Getting all this out of the way should make this launch a little easier.

2. White Paper Focus

You need to make sure that the white paper is well-crafted. Remember, this is going help convince potential investors to go ahead and buy into the ICO. You need to include regulatory details about the ICO project to ensure investors no violations are being breached. Keep in mind that the data you share in your white paper needs to be short and to the point. Think of your white paper as your elevator pitch, so you really do not have much time to sell the ICO.

3. Eye On Security Laws

Most ICO developers know that one of the hardest things to deal with are the AML/KYC laws. Investors are going to be worried about your ability to comply with these laws, so make sure that you’ve taken care of this through an expert or by operating from a jurisdiction where these laws are a little easier to adhere. Besides, you are doing this for your own good even if it is time-consuming because you do not want to issue tokens to terrorists or criminals that are on numerous most-wanted lists around the world. Violations could lead to trade sanctions, which can be detrimental to your financial plans.

4. Establish A True Link

It is important that you establish an obvious relationship with your ICO and possible investors. Of course, this relationship is one-sided at the moment, but you have to show your attempts. There are many ways you can do this, like by highlighting your team’s history when launching other crypto-based projects. It is also important that you show the relevancy of your knowledge by keeping up with ICO news. This world is changing constantly with positive and negative happenings, which you need to be aware of. For example, you need to show the security measures you are taking in light of hacking attempts hitting crypto-websites and wallets to show investors you are ready for this industry.

5. Highlighting The Token

Make sure that you’ve decided where your tokens are going to exist. You have a lot of options, including creating your own Blockchain. Granted, creating your own platform means a more involved launch, but this is sometimes necessary should your tokens need a specific type of technology. You can also just choose one of the more established platforms to help launch the ICO, like Ethereum, as an example. Be sure that you also pay attention to the potential value of each token, and communicate this project value to investors so they can continue to make informed decisions.

These are just some of the things that you need to consider as you launch your ICO into the crypto-world. Be sure to look into ICO bounty programs or other marketing possibilities because this is an elemental part of the ICO’s possible success. Hopefully, some of these points make this launch less daunting and guides you where you are hoping to go.

If you are interested in even more cryptocurrency-related articles and information from us here at Bit Rebels then we have a lot to choose from.