What Is the Right Time to Start an ICO?

5 years ago 0 3276

Initial Coin Offerings (ICOs) are well known for being able to raise incredible amounts of funds. For example, in 2017, ICOs raised $6,226,689,449. On the other hand, 2018 was even better, and ICOs raised $7,812,150,041.

And although new fundraising methods showed up on the crypto market, the statistic is clear: ICOs are still alive and able to bring funds.

Here is the question: what is the right time to start an ICO? Will 2019 be as profitable as the years before? That’s hard to say, but we can tell you that the right time to start an ICO is when you feel completely ready to do it.

And here are some questions to ask yourself before you do.

Is your plan ready?

The first things you should have ready are pretty basic for an ICO. Is the white paper written? Is the website ready for the launch? Have you hired community managers to help you out?

You should also consider hiring a marketing agency that will help you create a marketing and PR plan, and develop a roadmap for your project.

Did you find potential investors?

right time for ICO investor — investor on board.
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The success of your ICO greatly depends on investors. So before launching your ICO, it would be good to network with them. Try to find out if there is a roadshow of events where you could meet and connect with potential investors and spread the word about your project.

Your ICO vs competition

Have you done the research on your competition? How did they present their solution? Are there any flaws in their product or service? Can you fix them?

Before you start an ICO, make sure that your idea is better, and that you can provide solutions they can’t.

Did you talk to crypto exchanges on listing requirements?

Every crypto exchange has a certain set of rules and listing requirements. Before starting an ICO, you should get familiar with them. Most of the exchanges will review your token to see whether it’s suitable for listing.

For example, Poloniex states on its website that they can’t list coins that resemble securities.

Is your development team ready?

You have to build what you’ve promised. And the development team is crucial for that. Make sure you have talented and devoted experts in your team, that are willing to work with you in transforming your idea into reality.