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Tips To Avoid The Pitfalls That Cause ICOs To Fail

ICOs are gaining interest and for good reason. These initial coin offering campaigns can lead to success, but the fact is that many campaigns will fail. This is not an easy world to step into, and you need to be prepared to ensure your venture into it is a successful one. You can do this with the following suggestions.

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Purpose Over Money

One reason some ICOs fail is that their purpose was to make money instead of providing an actual service. This world can be lucrative, which is a driving force, but the ICOs purpose should be to decentralized a produce or service and give control back to the user. Investors are smart enough to see if what you are offering has no value beyond what it can offer you, and they will likely pass you over. The idea behind your ICO must be concrete, effectively defined, and useful.

Half-Baked Branding Issue

Yes, investors do their research but that does not stop them from making subliminal judgments on your ICO. These judgments will focus on the overall look and feel of your brand. This means that a significant amount of time and effort needs to be invested in the ICO’s website, logo, fonts, colors, visuals, and overall content that serves as the face of your coin.

The beauty of your project may be skin deep and hidden within the details of your plan, which could be revolutionary, but most people are relatively superficial, so make sure you spend significant effort on your brand.

Failing To Use Professionals

Sometimes, the reason ICOs fail is that professionals were not utilized on every stage. Sure, most cryptocurrency creators will likely use professional blockchain builders to impress investors but may stop there, which is a mistake.

Giving an ICO a fighting chance in this competitive world means using every tool available such as ICO advisors who can run an analysis on a whitepaper or help rewrite it. These professionals can help improve the business plan or revamp the pitch deck of a particular ICO. Advisors usually have a lot of experience and know what investors are looking for, which means they can guide you towards success.

Obvious PR Problems

PR ensures that lines of communication are up and running. It is important that this aspect of a launch is not rushed but carefully curated to improve the chances of your ICO’s success. For example, it is important to develop a strong site that includes essential elements such as the about page, the whitepaper, the team used, video explainer, media, parameters, distribution, contact information, and FAQs. These pages need to be produced with the utmost care because investors pay attention to each detail.

You want to make sure you’ve gone all out for your coin because it helps others see that you believe in your work. Additionally, it is also important to pay attention to social media platforms such as Twitter and Slack just to name a few. It may be a good idea to hire a social media expert with ICO experience to make sure this part is handled right.

These are just some things that need to be considered before launching because failing to devote time to any of these could cement your ICO’s fate and it won’t be good. Of course, there are other things to consider such as the capital you have to launch your coin publicly. It is important that your launch is properly financed, so be sure to consider a private offering if you do not have the money since you can still launch a private sale to raise some additional funds.

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.