What is the Cost of Launching an ICO?
Cost of Launching an ICO has become one of the most popular searches over the internet. Initial Coin Offering (ICO) is noted as the most effective Fundraising Venture for businesses around the world. The amount of capital available to conduct a successful token sale by the startup also determines the success or failure of the ICO.
The significant part of the ICO lies in creating the budget plan before initiating the cryptocurrency fundraising venture. By doing a research on the cost of Launching an ICO you will have an idea on the overall process. In the end, it will help you avoid borrowing or facing a failure in the ICO. With our team of expert ICO developers, we help you right from research and idea to marketing and launching you ICO raising it to millions.
Technical Aspects and the Cost of Launching an ICO
It is always important to take a positive perspective in initiating any business project. Well, for a successful ICO to be launched and raised to millions it is important to take certain factors into consideration.
Whitepaper Drafting is one of the main aspects of the ICO venture. It takes innovative and skilled expertise to draft a perfect whitepaper. Also,
to attract potential investors by giving them an in-depth introduction to your ICO venture. If you are looking for a limited cost of launching an ICO then you can plan on doing your whitepaper by yourself. Whitepapers should usually be detailed, informative and comprehensive. Usually, whitepapers are drafted and perfected by experts and industry enthusiasts.
A well-drafted whitepaper should let your investors know the whole purpose, aim and objective of your ICO venture, giving them an insight into the technical aspects and advantages of your ICO project. It is like an ICO proposal that discusses your product, the proposition of its value and how it can be used and distributed. On the whole, ICO stands as a business proposal for potential and impending investors and gives them an outline on how to implement the technology and gain the trust of investors.
However, the cost of launching an ICO may also involve the cost of hiring a content writer to draft an extremely technical and professional whitepaper. Therefore, it is important for the whitepaper to be clear, concise and well-written.
Cost of Launching an ICO
Landing Page Development
Developing a website for any business enhances the goodwill and scalability of the brand. The quality of the website will not only appeal to more customers but will also help in increasing the scalability of the business. The quality of the website depends on how much amount it takes to build one. The cost of Launching an ICO also includes the development and designing of a stunning ICO website that will attract potential investors.
Moreover, there are also some good developer sites that will help you build a good website. The best websites are made from scratch and it brings optimizing results for the best.
The Smart Contract
The ERC20 token standard is usually recommended in creating the smart contract. This is not only because it is easy to use but also that it can be transferred from one wallet address to another. The problem lies in finding a professional developer since the best ones are probably working on their own ICOs.
Developing smart contract needs a lot of time, even a skilled developer will need all the necessary and secure requirements. It is important for him to check the individuality of the work in order to make it more available for users. To check with the cost of Launching an ICO, smart contracts play an important part. It takes approximately two weeks to complete the whole process of checking all the technical details and testing it with audits side by side.
Smart Contract has the best feature of carrying out transactions with a high level of security. The token will not be appealing to investors if it cannot provide security. If there is a lack of security, then even a simple error cause a great loss that cannot be fixed.
ICO Marketing is the most challenging part of ICO since it helps you gain the trust of investors. Even before the ICO is launched, it should be marketed. ICO Marketing in sense, it should have an online presence. This should be streaming through a good website, social media and other internet and communication channels.
It is important to portray a certain level of attention, reliability and professionalism to gain the interest of potential investors. To find the Cost of Launching an ICO, it is necessary to know the whole process of ICO Marketing.
When it comes to marketing for any business enterprise social media cannot be ignored. It is one of the most powerful ways of marketing. It helps to reach out to your targeted audience in the most effective manner. Some of the most prominent ways of marketing via social media are Facebook, Twitter, LinkedIn, YouTube, Instagram, Reddit, Telegram and much more.
By marketing your ICO this way, it attracts your impending investors. It also gives them information on your ICO and the objective to raise it to millions. A huge part of the campaign is content creation. Approximately, when you consider the cost of Launching an ICO, a social media campaign may cost about $3,000 for a month.
Press Release ad Media Submissions
Another most effective way of promoting your ICO is through media, journalists, analysts. Just by letting them know your ideas about your ICO Launch and much more. It is necessary to put up your information of your ICO as press releases. Submit it in a large number of websites and publications as possible. There are certain sites that will cost you in submitting your content. This will help you gain the interest of your impending potential investors and gain their trust also.
To know the cost of Launching an ICO when it comes to publications and media submissions, you should take a look at some of the most prominent ICO Listing and press release websites. This will give you an idea of the whole amount needed for ICO Marketing.
When it comes to marketing your ICO via communication channels, it is necessary for you to hire a community manager. It brings effective and proficient results. Again, when you consider the cost of Launching an ICO, it depends on the person and time you hire. Your ICO should have a legal structure in order to make it more prominent and reliable for your impending investors.
In order to perfect this, it is necessary to protect the ICO individuals from personal civil or criminal action. It is very important to provide protection for your impending investors. Ensure that skilled legal representatives evaluate your ICO. Avoid scam for security purposes.
Community Management is very essential for your ICO especially during the early days of the token sale. It is important to build rapport with potential investors and attract their attention. Your sole objective should be to create a community that supports you in what you are trying to reach out to them.
The overall cost of Launching an ICO
Draft your ICO whitepaper by yourself if you are looking for a cheaper solution. If in case you are unsure of your writing abilities, it is necessary for you to hire an individual which may cost respectively. Sometimes, social media and community channels are of no cost. However, it is important to market your ICO in some most prominent paid community channels that will help you gain your reach to investors.
In conclusion, you need to spend money in order to make more money when it comes to ICO. As it is obvious that ICO is all about winning the trust of investors and that alone will help you raise your capital to millions.