You must have heard about ICOs quite frequently and must have heard people saying that it is too risky and there is a high chance of losing money. Well, that is not always true, and there is a reason why people have this belief.

However, in this article, you are looking for how to ICO, and that is precisely what we will offer you. We will start by understanding what an ICO is and provide a comprehensive guide on how to ICO a coin.

How to ICO a Coin: A Comprehensive Guide for Beginners

As mentioned earlier in this article, we will start by understanding what an ICO is, so let us work on that first.

What is an ICO?

You must already know what an IPO is. It is the Initial Public Offering which means you have the public involved who give you a small amount of money to help the organisation’s growth in exchange for shares. And if the company grows further, the share price increases, providing profit to the investors.

ICO is similar to IPOs, where the public does not buy shares; it buys tokens in exchange for Bitcoin, Ether, and other cryptocurrencies. However, ICOs include a lot more legal work than IPOs.

How to ICO a Coin?

Let us now look at the process of how to ICO a coin. You must be well prepared throughout the process so there are no disturbances, as it involves a lot of legal work.

Create a Whitepaper

A whitepaper is a term used to depict a clear plan for launching an ICO and looking to see if you have all the documents necessary and know if it is right to invest. You may start by creating a clear picture of what you want with details of every step.

Forming goals and objectives will help you with working in a specific direction and revert from distractions. Create a strategy to achieve those goals with the proper equipment. Also, consider the sources of investments and how you would segregate them.

Build a Capable Team

A knowledgeable and capable team is an essential aspect of ICO-ing a coin, as it requires a lot of work, and that won’t be possible with a lousy team. Look for people with experience with ICO and those who are good marketers, as you will require these two skills the most.

Also, as mentioned before, ICOs include a lot of legal work, so have someone to work out the legal aspect of the process. Find someone who can ensure compliance with relevant laws and regulations.

Now that you are done with the prerequisites, you must now work on launching your ICO.

Select a Platform

Look at what type of coin you have to ICO and what is your target audience and select a platform accordingly. A few platforms you can choose from include Ethereum, Waves, NEO, etc.

Create a Token

As said before, when it comes to ICO, the deals are done in tokens, meaning you must create tokens. You must create them as per the target audience and consider what would attract them.

Marketing

The final step is to market your coins. You may start by referring to your friends and later to others or use any platform to market your coins. If you have a reasonable budget, hiring a PR is a good decision, or you opt for social media, which works well.

Conclusion

There you go; now you know how to ICO a coin. We started with understanding what an ICO is and how it is similar to and different from an IPO. Then, we looked at the prerequisites and, finally, the process of ICO a coin. It could include a lot of legalities, so make sure to hire someone who will look into that.