Should You Launch An ICO?

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Should You Launch An ICO?

Starting your own business venture can be quite stressful, most especially when it comes to raising the capital for it. Most people usually opt to borrow money from financial institutions like banks, while some would save for years for their capital. Some would even secure a loan or two from their families and close friends. If you’re one of these people, have you ever thought of trying an Initial Coin Offering (ICO) to fund your start-up business?

If you haven’t decided yet, here are some things that you need to know about ICOs.

Should You Launch An ICO

Is an ICO right for you?

It is said that ICOs can mostly benefit ventures that are related to blockchain-based companies.  However, other industries like health care, financial services and government are now exploring ways of using blockchain in their processes. It is important, though, that your business can readily incorporate cryptocurrency or digital tokens.

Traditional Route VS ICO 

As mentioned above, there are several ways on how you can fund your startup business. You can go for the traditional route or fund your business through ICO. In the traditional business route, most people usually secure funding from venture capitalists or banks.

Others prefer borrowing money from their close friends and family members, while others choose to enter into a partnership agreement with them.

Another option is crowdfunding your business. There are crowdfunding platforms that you can apply to. You just have to make sure that your business proposal is ready.

However, some also consider launching their own ICO. Many people believe that ICO startups are easier to fund. Many companies are into block-chain service. As a result, this demand makes it easier for many startup businesses to secure funding. Regardless of what services and products your company offers, an ICO is still applicable.

ICO startup funding

If you plan to fund your business through ICO, here is how to do it.

First, you need a reliable website and a white paper. The website should be appealing to the public. Apart from that, your white paper should be clear and complete with all the important details of your project.

Your white paper should also cover the ICO laws in your country. Make sure that you do your own research on this matter before creating your own digital coins

Then, create a digital coin and put a specific value to it. The value and the coin should be explained well in your white paper. You can create your own digital coins thru Etherium.

Should You Launch An ICO

Why Launch One

ICOs are known to be a popular, efficient, and fast method of funding many blockchain startups. There have been 1132 ICO startups that were able to produce more than $7 billion dollars a year. An ICO is indeed a good way of funding a startup, but it can also be a risky one. It needs a lot of research as well as marketing and development. It is very important that you know what you are starting and how it usually works.

Launching your own ICO is actually a viable option in funding your business venture.  So, launch your own ICO now.

I’m a freelance writer and full-time curious person. My main interests are philosophy, politics, art, culture, science, and how they’re all interlinked. When I’m not writing, I’m fronting a band, producing records, and making videos. I’m also currently working on launching a YouTube channel that will focus on culture and politics. I think blockchain technology is fascinating because of the huge potential it has to revolutionise not only the financial sector, but society as a whole.