Cryptocurrencies and tokens are the recent talks in the crypto industries. Blockchain is the recent finest technology which is used to develop the digital currency. The popularity of cryptocurrency and crypto tokens are increasing day by day. Most of the big sectors already started to use this technology. Such as banking, healthcare, finance, and popular industries.
You can make everything easier and simple by using this blockchain technology. It is mostly used for creating your own cryptocurrency, creating the crypto exchange business, and for developing the crowdfunding platform. Such as Initial Coin Offering(ICO), Security Token Offering(STO), Initial Exchange Offering(IEO), and etc.
There are two terms in the crypto industry that will strongly confuse you i.e, coins and tokens. But both are digital currencies and coins are used for the transaction between the users in the exchange platform. But tokens are mostly used as cryptocurrencies for making payment and some tokens are 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? How to select the right crypto-token type in 2020?. In this blog, let us discuss all the answers to these questions in detail. Also, you can learn every single step that you need for launching your own ICO website.
What is an ICO?
ICO is one of the crowdfunding strategies used in the crypto market. It is a fundraising platform for startups, entrepreneurs, or business people. They can quickly raise their funds in a hassle-free manner. Here all the utility token sales will takes place. In the ICO website, investors are responsible for paying the assets in terms of any fiat currencies or digital currencies. It is an easy way to fund the new crypto token, products, cryptocurrency in the crypto industry.
When it comes to new blockchain projects in the crypto market, startups kick start in an easy manner through ICO. Here the blockchain ICO projects are the reason behind the fundraising from 2017. Around $6.2 billion raised from 875 ICO blockchain projects. Indeed, between December 2017 and January 2018, the price of cryptocurrency raised to peak in the market. So this fundraising strategy made a benchmark for every startup in the crypto industry.
Some beginners in the crypto industry say that this fundraising strategy looks similar to IPO(Initial Public Offering). But in ICO, it does not have any assets to back them. It is also considered as traditional security in the crypto industry. ICO can be created by anyone with the ICO website developer. So you can easily attract the users by your effective user-friendly interface in an easy manner.
Before launching the ICO website you should know about crypto tokens and what type of token to select for your business.
What is a cryptocurrency token?
Crypto tokens and altcoins are the types of cryptocurrencies but have different functionalities in the market. It represents the crypto assets or special type of tokens and resides on their 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. But they can also be used as a substitute for other things.
These crypto-assets are often used for transactions on the blockchain and that has 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 two types of crypto tokens available in the market place. Such as
- Fungible tokens
- Non-fungible tokens
It represents the minority of tokens in the crypto market. It is mostly used as currency, credit, and exchange of value. It would similar to tokens that are currently present in the ecosystems. So these tokens make the currency very useful. Fiat currencies are also said to be fungible in the crypto industry. It exists for BTC, Zcash, ETH, and any other ERC20 tokens. These fungible tokens are interchangeable, ERC20, identical, and divisible. They are identical so they have similar specifications and similar to other tokens in the crypto market.
These are tokens are unique in the blockchain and not similar to other tokens. They have different properties in the market place compared to other tokens. When compared to fungible tokens, it has a completely different protocol structure. Because in fungible tokens, it follows the ERC20 Standard tokens. Whereas in non-fungible tokens, it follows ERC-721. Non-fungible tokens are non-interchangeable so they are distinct from one another. Also, they are unique, divisible, and follows ERC-721. Here each token has different specifications.
So before launching your ICO website, choose the right type of crypto token that you want to use for your business. Now let’s see how to launch an ICO website with a few steps.
How to launch an ICO website in a hassle-free manner?
There are some easy steps to launch your own Initial coin offering website and they are given below.
Before you are starting the website, you should check some of the following steps. Such as
- Data processing
- Quality control
Make sure you have all these steps and start to build your own ICO website.
Have a perfect Roadmap and timeline:
Timeline plays an essential part in developing the initial coin offering website. So you should come with the 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 eye on the timeline while creating the ICO website.
Next comes the roadmap, this will explain to you the different steps involved in creating the ICO website according to your business requirements. So you can easily develop them in a hassle-free manner.
You should have a white paper and 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.
Marketing and advertisement:
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.
You should start selling your crypto tokens to your targeted global audience. Do some marketing strategy 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. After that, you can list them in any exchange platform and you can succeed in your crypto business.
Hire the best and expertise technical team from the first-class ICO development company. 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 24/7 technical support.
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. There are 8 countries that are ICO-friendly and also for crypto startups. Those countries are given below.
- The Caymus Islands
Benefits of starting an ICO website:
- Here any startups or entrepreneur can easily raise their funds with the proper white paper project.
- It is a crowdfunding platform so anyone can launch an ICO website. Also, does not need to be well-financed to get started
- Launching cost is low, compared to other crowdfunding models.
- The entire installation process is easy
- High liquidity in a short period
- Anyone can easily participate in the ICO.
- Investors have full control of their funds.
- It has multiple fundraising programs like private sales, public sales, and airdrops.
- No government intervention
The initial coin offering will be the finest crowdfunding platform for the crypto startups and for some business people. Now you have a question how can I start an ICO website?. You can start with the help of professional experts in the crypto industry like Icoclone. Icoclone is the first-class ICO development company across the world. We successfully delivered 70+ ICO websites to our international clients. If you a person looking to start a secured ICO website then we people in the Icoclone will help you to launch instantly at a reasonable price.