How To Raise Crowdfunding for Your Business Effectively Using ICO? Share: Bckodes Date Published 22 March 2022 Categories Blog Reading Time 4-Minute Read If you are an entrepreneur and are looking for ways to attract funding for your new project, then this article is for you. First things first, What is the initial coin offering? Initial coin offering (ICO) is a popular fundraising technique to raise money for companies through the launch of new coins. It is similar to the initial public offering (IPO) in the traditional method. This is an innovative way for organizations to finance using blockchain technology. The main benefit of ICO is that it eliminates third-party interferences from the fundraising process and connects the company with its investors directly. The investors will receive unique tokens in return for the money they invest. The tokens may offer various benefits and their value increases with the success of the project. Steps in ICO I believe that you would have got an idea about the ICO and its benefits. Now let us see the steps involved in developing ICO for an effortless fundraising process. White paper creation White paper creation is the foremost step, which involves laying out the project details on a white paper for the investors. This white paper includes information about the aim of the project, the total fund necessary for it, the number of tokens the investor will get in return, and the details about the team behind the project. Thereby, it helps the investors to make decisions on their investment. Coin development The “tokens” or “Coins” are just strings of numbers generated by cryptography algorithms and stored on the blockchain. The tokens are created according to the ICO project and are distributed to the individual investors by transfer of coins. The most common platforms utilized for token creation are Ethereum, Tron, and Binance smart chain. Website design The best ICO website design is the key factor in attracting the users and their investment. To make users know you, the page must be user-friendly with a professional look. Showing a clear roadmap with the project goals and timelines on your website will bring the users one step closer to your project. An elegant dashboard in the user panel will attract potential buyers. Smart contract A smart contract is a set of code and data which runs on the Ethereum blockchain. They balance the transactions on the network. Once they are released in the blockchain, they run as programmed. Every user transaction is executed by the function defined on the smart contract and the functions cannot be deleted and reversed once done. Developing such a reliable smart contract is essential for a hassle-free transaction within the blockchain system. Wallet development It is essential to develop a crypto wallet for smooth transactions in the blockchain network. In order to facilitate the sending, receiving, storing of ICO tokens or coins, a reliable cryptocurrency wallet is important. A suitable wallet system with customized features will help in the successful exchange of cryptocurrencies. ICO Marketing The effort put into a good website would be of no use if it isn’t promoted to reach the users. Marketing the ICO website through all digital platforms like Linkedin, Facebook, etc is vital to reach the desired crowd in the ICO development process. ICO bounty programs can also be added to promote your ICO. These are the most important steps involved in the crowdfunding process for businesses. Along with these steps, round-the-clock support with a dedicated team will help the users to get their inquiries solved immediately. Now that we have come to the last part of this article, I hope you must have gained knowledge about ICO development and what to look for in an ICO development service. Investing in a proper ICO development service is also a crucial part of the entire process and a comprehensive ICO solution is the best way to make your way into the cryptocurrency network. Opting for an ICO development service with a team of experts who can meticulously craft an ICO development solution for your custom requirements is a necessity. They can launch your ICO in reliable blockchain platforms like Ethereum, Tron, and Binance smart chain. Hence, go for the complete ICO development solutions and obtain an effortless fundraising process with their transparent ICO development techniques.