Why have a whitepaper for ICO? Find all your answers here before mining new cryptocurrencies and to promote your ICO

 A White paper is a simple agreement or a technical document meant for the creation of new cryptocurrencies and to promote ICOs, and should be prepared well before the launch of the ICOs. As stated by the ICO developers of a ICO development company in India, a white paper should be around 25-30 pages long and should specify all the necessary information about the ICO.

Here is why whitepaper is needed –

A whitepaper may be traditional and old school but its effectiveness cannot be neglected when it comes to the promotion of the ICOs. However, ICO development services are in place to look after everything associated with the new ICO to be launched but a whitepaper made for it will always act as a foundation stone amidst all the game-changing technologies available today. However, in the end, a whitepaper should be able to serve the commercial purposes and should be able to influence the investors as well.

What is the necessary criterion's to be met by an ICO whitepaper?
As depicted by the ICO developers of an ICO development company, to raise millions of dollars from an ICO, all the following criterion meant for a whitepaper should be met
accordingly –

•    The paper should be well-designed and the ideas behind it should be based on your project requirements and the target audiences.

•    The paper should be able to deliver the message clearly starting from the first page – it is best to summarize the problems and solutions on the first page itself.

•    Mention all the details of the market analysis and if there is any 3rd party data.

•    Mention all the token statistics on the whitepaper, like the token price, supply amount, and soft cap.

Apart from the above-mentioned criterion, here are some important tit bits to be followed in the whitepaper –

According to a ICO development company in India, your whitepaper should be able to deliver the correct message to the investors. While designing one, it is crucial that the white paper should appeal the audience by –

•    Drawing more information about your audience or know your audience
Especially for the novice writers of the whitepaper it is crucial to know the audiences first and the information shared should be written only about what is wanted by the audiences, which will help eventually and keep the investors attracted to your ICOs. To reach out the business people map out everything in the white specifying all the industry issues and what are the solutions to mend them. When gathering more information about the investors you have to proceed by including
third-party info and gather more info about the niche to be created as well.

•    Researching more on justifying your coin
As stated by the ICO developers of an ICO development company, to promote your ICOs it crucial that your coins are justifiable, in other words, develop a cryptocurrency or a token which can never fail and end up as a scam. It is important because most of the cryptocurrencies created were scams and the ICOs using those cryptos have failed without any notice. If you are a start-up, then it becomes more important for you to justify any new altcoins created.

•    Making the whitepaper easy to read
It is yet another important element to be considered while making a whitepaper for promoting ICOs. The page design should be good and have strong & clear illustrations. Not making the whitepaper easy to understand for the investors can be the cause for yours ICO to fail, but once it is made the right way, then there is no one stopping.

According to a ICO development company in India, if things are well explained in the ICO whitepaper then the ICO will hold the potential to be a success and wanted by the participants. The whitepaper should be able to impress the audience on the first go as “first impression will always be the last impression.”