Globally, most people will have a dream to start a business to become a billionaire. At first, you need to collect money for your business. There are various ways to raise funds. When it comes to crypto, there are innumerable business ideas prevailing in the crypto market, but the most prominent and ideal method is crypto crowdfunding.
Crypto crowdfunding is a crypto-based fundraising mechanism where the required level of funds will be raised by startups and entrepreneurs. There are various crowdfunding methods in the crypto marketplace. Among those, ICO will be the most ideal method of crypto crowdfunding. For the past couple of years, the total range of funds raised through ICO has reached more than $5 billion.
Most of the popular coins and tokens in the crypto market are released as an ICO. Starting an ICO is not an easier one. It needs more concern and market analysis is required. In ICO, startups will provide crypto tokens in exchange for fiat currencies. This is just a glimpse of an ICO. More concern and technical support are required for starting an ICO and some of the steps have to be followed for starting an ICO.
In this article, we’ll discuss in detail ICO and steps to start an ICO.
Come, let us quickly start with…
What Is An ICO?
Initial coin offering(ICO) is a prominent method of raising funds for a startup and crypto entrepreneur. It is the advanced form of IPO. Instead of raising funds via equity of a company, funds will be raised through cryptocurrencies. Hence, they are referred to as coin offerings. The startup will offer crypto tokens in exchange for fiat money. Tokens offer accessibility for the products and services of the startup. An ICO project is said to be successful if they receive their desired capital shortly and get reached in the crypto marketplaces.
Starting an ICO is not child’s play. It needs more carefulness, brainstorming, and ground research. If any mistakes occur in the developing part, then it will lead to the failure of the ICO website. There are various types of ICOs prevailing in the crypto industry. Let us briefly discuss those types.
Types Of Initial Coin Offerings
There are two types of initial coin offerings. They are,
Private ICO
As the name itself sounds, private ICO is where you can engage only a limited number of investors for raising capital. In a private ICO, you can also decide your required capital for your ICO.
Public ICO
Public ICO is also considered as the initial coin offering. Here is where an actual token sale occurs. It is similar to an IPO where crowdfunding aims at bigger institutional investors and also the general public. Here, the required amount of funds will be raised by the startups. Now, I’ll list some of the ICO projects that have succeeded in the crypto industry.
Top ICO projects
Here, I’ll list some of the ICO projects that have worked out in the crypto marketplace. They are,
- Ethereum
- NEO
- Alias
- Stratis
- Ark
- NXT
- IOTA
- Lisk
- QTUM
Now, we shall discuss the steps to start an ICO.
Pivotal Steps To Start Your Own ICO
Generally, ICO can be developed from scratch or script. ICO development from scratch is a huge process and it takes most of your time and money. To prevent this, you can go to the ICO script. The fine way of launching an ICO website is using an ICO script/software. ICO script is tailor-made software that has all important features and APIs are automatically incorporated within it. With the aid of an ICO script, you can immediately launch your ICO website as per your business thirst. Already, most of the startups and entrepreneurs started launching their own ICO using ICO scripts. ICO script has become the ubiquitous tool if anyone wishes to start their own ICO website.
Even if you have an ICO script, certain mandatory steps have to be followed for starting your ICO in a successful manner. Here, I’ll list those steps to start your own ICO. They are,
Come with a phenomenal idea
The first keynote to be considered before starting an ICO is the idea of a project. Your idea should proffer solutions for the market’s current needs. Your idea should be extraordinary than your competitor’s idea and unparalleled. You can get that unique idea by keenly analyzing the market. Your idea should reach your target audience and impress them to put their money into your project.
Currently, there are more than 15,000 cryptocurrencies existing in the crypto industry. If your coin wants to get listed among them, then there should be great demand and it should be highly popular. Hence, your idea should be unique.
Analyze your competitors
You should analyze your competitors whether they provide services similar to your project. Because all the projects are initiated for the funds. If your competitor provides good services, then investors will fund their money for them. So, you should keep your eyes on your competitors.
Launch your ICO in legalized countries
ICOs are becoming legalized in most countries and some of the countries are trying to legalize cryptocurrencies and ICOs. Launching an ICO should be scam-free. It is better to launch ICO in crypto-friendly countries. For instance, Switzerland has made crypto legal and they started accepting cryptocurrencies for payments. Here, I’ll list some of the crypto-legalized nations to start your own ICO
- The United States
- The European Union
- Canada
- Australia
- El-Salvador
- Switzerland
- Denmark
- Japan
Create a crypto token
Crypto tokens should be created based on your idea. You should decide the token supply for pre-ICO and ICO token sales. Crypto tokens can be created using the token standard of the blockchain. The prominent blockchains for crypto token creation are Etheruem, Tron, Binance smart chain, Waves, etc. Various token standards of Ethereum, Tron are ERC20, TRC20, and BEP20. Among those, the most ideal fungible token standard for token creation is the ERC20 standard. For creating a crypto token, you can contact a reputed token development service provider in the crypto industry.
Whitepaper creation
A whitepaper is a technical document that has every possible detail of the project. It should include a vision of the project, marketing strategy, architecture and goals, legal issues, developers team description, ICO advisory, and all complete information of the token
A whitepaper should be technically explained. The reason is that most people will decide whether to invest in your project or not. People who have knowledge about crypto will definitely analyze your whitepaper thoroughly. So, it should be framed in a way to impress them. A whitepaper will decide the success and failure of your project.
ICO website launch
This is the most crucial factor to be considered. ICO website should be eye-catchy and informative. The details that should be involved in your ICO website should include your team’s description. Your team details should include your company’s superiors with their photos, skills, and designation. Then, a roadmap of your project should be included. Your roadmap should be exemplary with great goals. Your milestones can also be included, which will spark your investors to participate in your ICO.
Here, I’ll provide you a rough outline that an exemplary ICO website should contain,
- Description of your ICO
- Brief description of your product
- Roadmap
- Presentation video
- Subscription form
- Team details
- Press coverage: Links to articles, guest posts, and podcasts
- Terms and conditions
- Whitepaper
- Partners, investors, and ICO advisory
- Contact information and social media account
- Customer reviews
If these factors are perfectly included in your ICO website, then you can attract more investors. You can easily launch your own ICO website in a hassle-free way by buying a premium ICO script from top-notch ICO script providers in the crypto industry.
Promotion and marketing
If your ICO website gets ready, you can start your promotion on various sites. ICO website promotion can be done by following some marketing strategies like social media marketing, Email marketing, affiliate marketing, etc. You should conduct a PR campaign where you can reach your potential investors. You can conduct a FAQ session and always be available to clear your user’s doubts.
ICO launch
The final step to start an ICO is the ICO launch. By following the above-discussed steps, you can launch your ICO successfully. After ICO launch, make your tokens get listed in popular exchanges like Binance, Kraken, etc.
There are massive benefits to launching an ICO. Come, let us discuss briefly.
Benefits Of Starting Your Own ICO
- ICO is an independent platform to raise funds.
- Launching an ICO costs less when compared to other crowdfunding methods.
- Creating an ICO website is very easy.
- High liquidity in a short span of time.
- Anyone can easily launch an ICO without any hassles.
- The maximum value of funds can be raised.
- No third party and government intervention.
- There are no regulatory measures for launching an ICO.
- You can attract a wide range of investors in pre-ICO.
- You can conduct airdrops, public sales, and private sales for attracting investors.
These are the benefits of starting an ICO. You can launch your own ICO by getting an ICO script from Icoclone.
Why Choose ICOCLONE For Starting Your Own ICO?
Icoclone is a reputed ICO script provider in the crypto industry and has great experience in providing ICO development services with enormous outcomes. We are specialized in providing exemplary ICO script/software with customizable features. We offer ICO scripts at an affordable cost. So far, we have offered 120+ premium ICO scripts to our global clients. We have a team of seasoned experts and skilled developers for developing a high feature incorporated ICO website. If you wish to start your own ICO, then contact Icoclone immediately for getting a tailor-made ICO script for your business needs. In the ICO script, you can also add your desired features in a hassle-free way. Get in contact with Icoclone quickly!!!