Over the past couple of years, the cryptocurrency world managed into the mainstream, right after the investment like Bitcoin BTCUSD, 1.65% surges almost fourfold. Therefore, it has been an absolute gold rush to uncover more and more of this type of return, which has resulted in a massive growth of the crypto market.
There are more than 800 different cryptocurrencies with odd names, such as “the vegan initiative” or “psilocybin.” Even though it may sound ridiculous, the entire crypto market world is standing at an immense $87 billion!
The real question is, how did these come to be? The answer is straightforward. It’s because of the Initial Coin Offerings. In fact, a lot of ICOs, if you look closely enough. So, let’s get to know the fundamentals of ICOs, shall we?
What are Initial Coin Offerings exactly?
Initial Coin Offerings are better known as ICOs, are some IPO, initial public offerings, just in the world of cryptocurrency. It’s a type of funding using cryptocurrencies. Very often, ICOs are referred to as a form of crowdfunding.
On the ICO calendar, you can see current Initial Coin Offerings that are happening at the present moment or will happen in the crypto space. It’s mandatory to understand that Initial Coin Offering is fundraising. A company is attracting investors looking for the next big cryptocurrency score by delivering its authentic digital currency in exchange.
Who can launch Initial Coin Offerings?
If you aren’t sure who can launch Initial Coin Offerings, the answer is simple. Absolutely anyone can launch an ICO. At the moment, there is extremely little regulation on Initial Coin Offerings in the United States.
It means that as long as you can get the tech set up, you are allowed to try to get your cryptocurrency funded. When we speak about cryptocurrency as a whole, we are talking about the wild west. We know there is gold in the hills and almost no law.
Therefore, anyone can reach out and get it if he’s lucky, patient, and intelligent enough. If we compare it to all other avenues of funding, Initial Coin Offering happens to be very easy to set up as a scam.
Because there is no regulation, anyone is entirely free to do all the work to make you believe they’ve come up with the best possible idea and bolt with the money.
How can you create your own ICO?
For those of you who are enthusiastic about making your own ICO, here is what you need to do:
- Get a whitepaper which is a document that should identify what your currency can offer
- Hook your buyer by the end of the first page
- Advertise your product online
- Submit your ICO to some listings with databases of quality ICOs
- Determine the token pricing and distribution.
To cut a long story short, it’s no secret that Initial Coin Offerings are the newest possible way to raise money, and everyone is getting adapted to it. Keep in mind that cryptocurrency is all about high risks and high rewards, and Initial Coin Offerings are not different from that.