SpicePay News

ICO : Do’s and Don’ts

 

Cryptocurrency, specifically Blockchain, has been proven to be a groundbreaking technology in society today, yet it is still in the early stages of adoption. Consequently, many new cryptocurrency concepts are being marketed to bridge the gap between technical complexity and usability of Blockchain. Cryptocurrencies will change the world .
Initial Coin Offering’ ( ICO’s) seem to be almost a daily occurrence. With cryptocurrencies hitting such a boom period in both practicality and media attention, it’s hardly surprising that there is a rush to develop and deploy new offerings as soon as possible.
There are almost no universal truths when it comes to token issuance and Initial Coin Offering (ICO) events but here’s one: everyone has a white paper.
If it is done right, an ICO can be a complicated and lengthy processes to structure. Aside from the actual technological development of the coin itself (including any exchanges, wallets or other extras being deployed), there are a huge number of additional commercial and business factors to consider during the process.

For those who have never taken the time to look at a new ICO offering (as some people simply prefer to work in more established currencies), a White Paper is the document prepared by a party in anticipation of launching a new currency. This show us the details about the commercial, technological and financial details of a new coin offering and puts it into digestible chunks that the reader can understand. Offer some marketing details about how great the currency will be and how it will beat all others . The end goal here is to part the information that is needed onto the reader without the reader getting bored. Keep information simple, blocked and easy to read. Some people simply invest, with minimal interest in how the currency works, and want to see what your one has to offer.
Don’t include images just for the sake of putting them in there, this is no magazine, keep them relevant. Only include images that have some kind of information and improve the knowledge that the reader is getting by including them; Charts, Graphs, Logo’s all have a use.

Remember try to talk about how much do you see your currency being worth, how big is your market cap, is there any capshare information you can include, financial information that will be wanted by an investor. Without any tangible backing and explanation, your offering can look like it is only trying to make you rich.

Remember, cryptocurrencies are now attracting the attention of serious investors that control serious money. Therefore, you should aim to build confidence in both those at the lower end of investment and the higher, more lucrative end. Talk about why you (or your company) is deploying this coin/token and why they have chosen now to put it into the market. Talk about actual advantages that your coin/token offers .

Make sure that your White Paper reflects both your company and your offering with the style and image that you want to become known for. The earlier you build your brand and make that awareness, the better your offering will do for it.

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