In recent times, cryptocurrencies and tokens are the hot talks of the crypto industries. Many people are already aware of Blockchain which is the latest and finest technology worldwide. Blockchain is the ledger for crypto token development and the transactions will be recorded here. You can make everything easier and simple in this digital era by using this blockchain technology. It is mostly used for crypto token development, creating a crypto trading platform, and developing a crowdfunding platform. Such as Initial Coin Offering (ICO), Security Token Offering (STO), and an Initial Exchange Offering (IEO).
Two terms in the marketplace will strongly confuse you i.e, cryptocurrencies, and tokens. The significant difference is, the digital coins are used for the transaction between the users in the exchange. But tokens are mostly used for making payments and fundraising. Also, some crypto tokens are completely used for voting on proposals.
If you are new to this technology then you have lots of questions in your mind. Like what is ICO? How to launch ICO? What is a cryptocurrency token? What is crypto token development? How to select the right crypto-token type to raise the funds? Where to find the token development service? ,etc. In this article, let us discuss all the answers to these questions in detail. Also, you can learn simple steps that you need to follow for launching your own ICO website to raise your funds.
Let us begin with…
What is an ICO?
ICO is one of the crowdfunding strategies used in the marketplace. It is a fundraising platform for startups, entrepreneurs, or business people. By using this model, they can quickly raise their funds in a hassle-free manner. After the crypto token development, all the utility-type crypto token sales will take place. On the ICO website, investors are responsible for paying the assets in terms of any fiat currencies or digital currencies. Also, it is one of the easy ways to fund the new crypto token in the crypto industry.
When it comes to new blockchain projects in the crypto market, startups can easily kick start through ICO. More than $6.2 billion was raised from 875 ICO projects. Indeed, between December 2017 and January 2018, the price of many cryptocurrencies raised to a peak in the market. So this fundraising strategy made a benchmark for many startups and entrepreneurs in the industry.
Now, you might have thought of launching your own ICO website. But before launching the ICO website you must know about crypto tokens and what type of crypto token to select to run your business.
What is a Crypto token?
Crypto tokens and altcoins are the types of cryptocurrencies but have different functionalities in the market. It represents the crypto assets or special types of tokens that reside on the blockchain. Also, it represents the asset or utility. It is mostly created for initial coin offerings and used to raise the funds for startups and other business people.
Crypto tokens are often used for transactions on the blockchain that have been created by standard templates. Crypto tokens are mostly created using the Ethereum platform. This type of network works on smart contracts and decentralized applications. So it is used for managing and transactions occurring on the blockchains. There are five types of crypto tokens available in the marketplace. Such as
- Utility token
- Security token
- Asset taken
- Currency token
- Loyalty token
Utility token
It is the digital tokens that are developed from scratch where any physical asset or digital asset was not backed. It provides user access to the products or services in the blockchain network. For example, exchanges are launching their own token to reduce their trading fees.
Security token
Security tokens are tokens that are asset-backed. The asset-backed for these tokens may be any assets like real estate, gold, silver, shares, and more. Security tokens can be created after getting the approval of SEC guidelines. In simple words, the value of an asset can be converted into tokens.
Currency token
A currency token is a stable coin where the tokens can be created on the existing blockchain. Like security coins, stable coins are backed by the reserved(traditional currency like USD) asset.
Loyalty tokens
Loyalty tokens are the tokenized form of loyalty points or daily login rewards earned during the game or anything it may be. It is creating a brand new market among the people.
For creating these types of crypto tokens, three types of token development platforms are prominent in the marketplace. Such as Ethereum, Tron, and Binance Smart Chain. You can create tokens using any of those blockchains.
Ethereum
Ethereum is a popular token development platform and an open-source blockchain network. This platform is mostly used to create tokens, smart contracts, and peer-to-peer applications. When it comes to crypto token creation, many people prefer Ethereum-based crypto tokens. Because it is more secure and has plenty of beneficial factors. Ethereum tokens have multiple token standards such as ERC20, ERC223, ERC721, ERC777, and more. Many ICO projects are successfully raised by using ethereum-based crypto tokens. Thus, there is a massive demand for ERC20 token development services in the marketplace.
Tron
Tron is also an eminent token development platform that helps to create Tron tokens for fundraising. It is more secure and fast compared to other crypto token types. Tron tokens have two different types of token standards like TRC10 & TRC20. These two Tron standards are recent trends in the crypto marketplace. Most of the crypto tokens are completely developed in the Tron blockchain. These Tron tokens can handle more than 2000 transactions. Thus, many traders and investors prefer Tron tokens for trading. The increased usage of Tron tokens made many startups and businesses to approach Tron token development service.
So before launching your ICO website, choose the right type of crypto token creation services that you want to utilize for your business.
Now let’s see….
Binance smart chain
Binance smart chain is also the most popular blockchain in the crypto industry. It is created for developing smart-contract-based applications. Using Binance smart chain, developers can create decentralized applications and crypto tokens. It is the advanced form of the Binance chain. BSC implements the EVM(Ethereum virtual machine), where Ethereum based applications can also run. Binance smart chain has its own token standards like BEP20 and BEP721. If you wish to create BEP tokens, then you can create them from the reputed token creation service provider from the industry.
So before launching your ICO website, choose the right type of crypto token development services that you want to utilize for your business.
Now let’s see….
How to Launch an ICO after creating a Crypto token?
Here we list some paramount steps that you need to follow for building your own Initial coin offering website.
Before building your ICO website, you must check some of the following elements. Such as
- Back-end Infrastructure
- Data processing
- Manufacturing
- Designing
- Quality control
- Development
- Have a perfect Roadmap and timeline
Make sure you have all these elements and start to build your own ICO website.
Timeline plays an essential part in developing the initial coin offering website. So you should come with the unique business requirements to tackle it. You must keep a timeline to finish your ICO project. If the completion of your project takes more time than your timeline then it’s a loss. So keep an eye on the timeline while creating the ICO website.
Next comes the roadmap, this will explain to you the distinct steps involved in creating the ICO website according to your business requirements. So you can easily develop them in a hassle-free manner.
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Strong advisory board
ICO’s are not legalized in all countries. So you should have a strong board to handle them. Also, you should know which countries are ICO-friendly for launching your own ICO website. As of now, 8 countries are ICO-friendly and also for crypto startups. Those countries are given below.
- Jersey
- Spain
- Luxembourg
- Switzerland
- Malta
- Belarus
- Singapore
Choose the right country to launch your ICO and proceed with the next step.
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Have a Technical team
Hire the finest and well-experienced technical team from the leading ICO development company in the industry. So if you face any problems or errors in the technical part. You can easily solve them in a hassle-free manner. Make sure that the ICO development company provides effective 24/7 technical and customer support.
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White paper
You should have a white paper that involves project requirements, the motto of the project, use cases of the project, the team behind the project. so it plays a vital role in launching the ICO website. Also, you should mention all of these topics in a detailed manner.
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Marketing and advertising
Marketing is more important for your business. Because you need the marketing strategy to introduce your initial coin offering projects to your targeted people. So that you can attract more users to your website and will make a huge impact on your project. Also, it helps to gain more funds quickly within a short period. So marketing your ICO website is one of the important steps in building the ICO websites.
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Token countdown
You should start selling your crypto tokens to your targeted global audience. Do best marketing strategies to sell your token within the specified time. So you can get an ample amount of profits at the desired time. Keep your token price as low at the starting stage so many people will buy them within a short period. Once your token sales are done, you can list them on any exchange platform and you can succeed in your ICO business.
By following these essential steps, you can launch a successful ICO website to raise the funds.
Benefits of Launching Your Own ICO
- Here any startups, entrepreneurs, or any companies can easily raise their funds with the proper white paper.
- It is a crowdfunding platform so anyone can launch an ICO website. Also, there is no need of being well-financed to get started
- Launching cost is low when compared to other crowdfunding models.
- The entire installation process is quick and simple
- High liquidity in a short period
- Crypto users can easily participate in the ICO.
- Investors have full control over their funds.
- ICO websites will have several fundraising programs like private sales, public sales, and airdrops.
- No government intervention and other central authorities
Closing words
The initial coin offering will be the finest crowdfunding platform for crypto startups and business class people. You can launch your own ICO with the help of professional experts in the crypto industry like Icoclone. Icoclone is the ideal and fast-growing ICO development company across the world. We are expertise in offering ICO script software with enabling advanced features in them. We successfully delivered 60+ ICO websites to our international clients. Apart from these, we also specialized in providing crypto token creation services along with token wallet wapp for web, android, and IOS.
If you are a person looking to start a secured ICO website. Then we people in the Icoclone will help you to launch an ICO instantly at the best price in the market.