What is an ICO (Initial Coin Offering)
An initial coin offering (ICO) is a type of funding using cryptocurrencies. Mostly the process is done by crowdfunding and private ICO’s are becoming more common as well. In an ICO, a quantity of cryptocurrency is sold in the form of “tokens” (“coins”) to speculators or investors, in exchange for legal tender or other cryptocurrencies such as Bitcoin or Ethereum. The tokens sold are promoted as future functional units of currency if or when the ICO’s funding goal is met and the project launches. Just this year in the first two quarters, a record $7 billion was raised via ICO from January–June 2018.
How to launch an ICO?
Before launching an ICO, which is rather expensive and time-consuming process, we must first decide if launching your ICO is advisable. Like all entrepreneurial products, your project must offer a solution to the problem in the cryptocurrency market. Since there are only 1,500 cryptocurrencies in the marketplace, your coin must have a high demand if it is going to get any traction. It is essential that your project also has an integrated cryptocurrency system that uses your coin in a meaningful way.
Launching an ICO
Taking your project and turning it into an actual product is the most important step before you launch an ICO. Your product must be expandable on Blockchain as well as your product must use your token. Creating the token is an easier step because we help create the technical architecture that supports your project.
Next distributing the amount of blockchain or ethereum coins either in the main ICO or in Pre/Main-ICO period can influence the demand and value of your coin. Writing a whitepaper is another crucial step in the launching of an ICO because it explains your project in every possible detail. This includes all the problems it intends to solve, a market analysis of the product, the development strategy, legal issues, and distribution policy.
The last steps of launching an ICO include creating awareness for your product and getting your product out on exchanges. Creating a community around your project will establish a loyal fan base while also sharing your product to others. Finally getting your ICO on Bitcoin exchanges including finding the strongest and longest lasting exchange is crucial.
Here at ATI
ATI is the premier Cryptocurrency and Blockchain development company offering a wide range of cryptocurrency development services. We at ATI, offer Cryptocoin creation, Cryptocurrency Exchange Platform, Token development, Blockchain development, Smart Contracts, Cryptocurrency Wallet development and more. We also help entrepreneurs and companies develop a PoC (Proof of Concept) of an ICO or in actual ICO process. We have access to Cryptocurrency code repository and we have vast knowledge and understanding of related challenges about its security.
More about ATI’s Cryptocurrency and Blockchain development services – abasystech.com/crypto.