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Day by day the world of cryptocurrencies getting more populated with the arrival of new crypto coins. Do you know why these sudden growth has happened? it is just because of the peoples eager in cryptocurrency network.
That eager pulled them to generate their own crypto coins, through cryptocurrency mining.
In the release of new crypto coins. there will be two main processes.
1. Mining the crypto-coin
2. Making it eligible to trade.
We already discussed a lot of things about cryptocurrency mining in the previous blog, and we understood that how mining is playing an important role in generating the new coins.
But What is it mean for "Making it eligible to trade".
A crypto coin will be considered as legal cryptocurrency only after getting a trade value. Before that, it will be considered as a crypto project.
To convert this crypto project into the form of valuable and eligible to trade crypto coin, entrepreneurs have to announce it to the market and have to invite the investors to purchase the coin.
But do you think will people accept that raw invitation? Certainly not. Becuase there are plenty of popular crypto coins, so no investor is a fool to invest in a newly launched or ready to launch crypto coin without any roof. Sure they will neglect it. In the end, the project will meet a failure.
So to make a trust for investors, and to generate funds for a new crypto project (i.e) The cryptocurrency industry has launched an all-new method which we called " ICO " - Initial Coin Offering.
ICO is just like crowdfunding, or IPO. Entrepreneurs used it to raise funds for their startup projects. The funded money will be used as a source of capital for new crypto startups or crypto projects.
During the ICO process, a particular percentage of newly launched cryptocurrency will be sold to the investors based on a token system. We can call this process as Pre-selling the crypto coins.
During the earlier stage of ICO campaign, a white paper will be presented by the entrepreneur which will describe the technical specifications and the business model of the project. A timeline will be set for purchasing the tokens, and the targeted budget will be decided for the project. During the crowdfunding stage, the tokens will be purchased with a well-known cryptocurrency like bitcoin, or ethereum.
But most of the "ICO projects prefer Ethereum for buying the tokens"
1. Creation of new crypto coin on a protocol such as ethereum, open ledger
2. Assigning the arbitrary value based on the networks worth at the moment.
3. Determining the price dynamics based on market supply and demand
4 . The first thing you need is proper infrastructure and a back end.
5. Proper roadmap of your project and the perfect white paper regarding the project
6. Ensuring there are no security violations
7. Need to maintain an escrow account.
Launching your ICO helps you to collect funds for your project, but at the same time without being an investor you can help people to raise funds for their project.
Just like you, there are plenty of people searching for a trustworthy platform to establish their ICO project. With the help of an ICO website, you can help them to overcome their problem.
Bitdeal is playing the vital role in releasing the new crypto coins via ICO, If you are having a crypto project bitdeal will help you to market it and to make it success. Either you may have a new cryptocurrency on your hand or you may have an idea to launch your ICO website, in any case, bitdeal will help you for both the business directions.
bitdeal gives you a complete assurance and are ready to generate crypto tokens for your project and hence you can quickly achieve the targeted budget.
Read out our previous blog about ICO - The Next Big Business Opportunity
Greetings! This is Dheivanai! My love for writing transformed me as a blogger and the Passion for Crypto industry turned me as a business advisor at bitdeal. Crazy towards digging deep and analyze the new trends in the Cryptocurrency and Blockchain Industry. Follow us to read interesting and existing blogs! Stay tuned, Stay updated!
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