How to Make Your ICO Launch a Huge Success in 2019
Cryptocurrencies are gaining strength in finance this year as clear yet lenient regulations are emerging in various jurisdictions. These regulations are raking out scams from genuine ICOs which is having a two-fold effect on the crypto market — it is bringing in more investors who now trust the fare better, and reducing the competition for projects that offer a genuine value addition. However, for an initial coin offering to be a winner, it must take a few smart calls. Here is what you have to do to make your ICO a huge success this year.
1. Review other ICOs to see what you need to work on-
First you need to review other ICOs to see what you need to work on. Just surf the internet and find out which ICO raised the most money and what it did to accomplish it. After you have seen what the most successful ICO has done, search for a few that was launched in the near future and follow all their moves. This can teach you the whole process they went through. Give yourself at least two months to study the process in this stage.
2. Create a business plan for your ICO-
Once you understand all the ICO process you must create a business plan for your ICO. The business must create a profit (that is the most important thing) by offering lots of value to the world. There must be a strong reason why you need to finance your business through an ICO. At this stage, you should have a vision and that should be really clear about all the steps and what the project is going to be like when it’s done.
3. Create the White Paper of your ICO -
After you have a clear vision it is time to create a white paper of the ICO. Although it is agreed that at some point you should hire professionals to help you polish the white paper, the first draft should be written by you. This is because you are the one that came up with the idea, no one but you can express the vision behind it best. Just trust yourself. Make sure in your white paper you answer all the questions investors and contributors may have before investing in your ICO. Ask yourself if you would invest in the ICO yourself and proceed only and only if the answer is a solid “yes” because you need to trust your ICO.
4. Build your ICO’s team -
Building your team is the second most important task after creating a white paper. The best teams are those that have two or three members that will be considered as world-class experts by the future contributors.
5. Address the legal issues of your ICO -
Then you must resolve your legal questions. It is very important to associate yourself with experienced and knowledgeable legal advisers for your ICO and cryptocurrencies since these are a new domain and not every lawyer understands its legal ramifications. The smartest way to go about this would be to look at the websites of successful ICOs and see who their legal advisors were and contact them. Contact as many of these advisors as possible and review their offers and experience. Keep in mind the jurisdiction you are living in since it might not have a legal framework to run an ICO. Some countries, for example, actually forbid ICOs. So, the only way to register your ICO maybe to relocate your business to a crypto friendly jurisdiction. Also, be careful if your token is considered a security token because many countries have separate laws for security ICOs.
6. Create a website for you ICO -
Once you have all the above things in place it is time to prepare your ICO’s website. It’s important to take time and make a good website that gives your visitors good user experience. The website should load fast, should be secured, should have good hosting and a lot of protection. It should have a link to your white paper, it should include all the important information about the token allocation, links to social media accounts and other communicating channels or your blogs. It is recommended to create an email link.
7. Create a smart contract and secure your ICO -
The crowd sale has to be built in such a way that it can be fairly safe from cyber attacks. New websites have to be secure so that hijackers can’t hack it. It is very important, especially now in 2019. Since an ICO is a one-time event and the contributors collect tens of thousands or millions of dollars, it should be important that your smart contract is audited by specialists. This specialist will not be cheap and can cost you a lot of money, but it is still insignificant when compared to the potential problems you could face if the smart contracts were designed with errors or security holes.
8. Create your ICO’s marketing plan to inspire trust and benefits for investors -
Once you have all of these steps running, a project is ready to start. You have to start with your marketing plan. Since 80% of all ICOs were scams, your marketing plan must inspire trust and must express the benefits your investor will get, how your token will get listed on exchanges, and the guarantees behind your ICOs so that your future investor won’t be exposed to the risk of losing their hard earned cash. Trust, therefore, is a very high priority. So having your marketing focused on this point is key to making an ICO successful in 2019. There are several blockchain companies, such as the popular California-based HashCash Consultants, that manage ICO launch and related services for their clients, ultimately ensuring a successful ICO. Handing over the crucial part of an ICO process to an expert reduces risks of the project falling flat.
9. Announce your ICO on multiple platforms -
You need to announce your ICO. Over a year and a half, there have been a lot of websites that list all the future ICOs, rates them, and gives reviews of their performance. You can provide these websites with a lot of relevant information about your ICO such as your team, white paper, milestones, and various links. Having your ICO on any important portal can be beneficial because many investors find you there. Then, it is important to announce your ICO in Telegram, Bitcointalk, write a few posts on medium, share all of these to Facebook, Twitter etc. Upload a few videos with your founders and post them on YouTube, have lots of press release done for your project. The fact that cryptocurrency is a grey area on Facebook and Twitter makes the task of promoting your ICO a little more difficult and that’s why you need an expert behind your marketing