cryptodaily.co.uk: How To Profit From A Multilingual ICO White Paper

  • Tuesday, 05 March 2019 14:30
An ICO white paper is a document containing technical information about your cryptocurrency offering as well as relevant information about the purpose of your offering and the qualifications of your team. Its purpose is to prove that your cryptocurrency is worthy of investment and is likely to become profitable. Because cryptocurrency investors come from a variety of countries, most ICO whitepapers are translated into at least a couple of different languages. The concept is simple. A well-written ICO white paper is more likely to bring investors into the fold. This of course, results in more profit for the group offering up the new currency. The following tips will help ensure that you get the most traction out of your ICO white paper. Marrying The Technical and The Non Technical is Key Keep in mind that this is a document created for the benefit of potential investors. In any other space, the best practice here would be to simplify things and write in decidedly non technical terms. You would avoid using technical jargon, for example. That’s not quite the case here. Instead, you should assume at least some level of tech savvy from your audience. Because of this, a good ICO white paper will be technical, yet at the same time accessible. Describe Your Stack to Build Confidence Your cryptocurrency is only as good as the technology stack that supports it. Your white paper should go into detail about your stack. Speak about your blockchain and how and where it will be hosted. What other technologies do you have in place. Potential investors want to be assured that your currency will be secure and able to withstand whatever is demanded of it. Get visual with it. Diagrams and pictures are a must. Sell Readers on Your Team’s Cohesiveness and Experience Here, things are not much different than with any other pitch document. Your job is to convince people that the team behind your ICO has the chops it needs. What does each member of your team bring to the table in terms of background and experience? If anyone has participated in an ICO launch previously or has other cryptocurrency experience, be sure to document that. Determine The Most Likely Countries to Source Your Investors Interest in cryptocurrency investing is on the rise everywhere. However, the countries that have the most interest in investing in crypto are Russia, Japan, and South Korea. However, keep in mind that this is just a guideline. There are plenty of nations where emerging interest in cryptocurrencies mean they could be ripe sources of investor funding. This is especially true when governments have shown interest. One country to consider is Switzerland. There, the government is cautiously optimistic about the value of cryptocurrency. They are currently exploring regulation options. At the moment, Switzerland is considered to be the top nation for launching cryptocurrencies. Keep an eye on Spain and Estonia as well. What about China? This is where things a bit complex. On one hand, the Chinese government is decidedly against cryptocurrencies. On the other hand, a lot of Chinese expats are very interested in ICOs. It could be worthwhile reaching out to them. Use a Reliable Translation Agency Using a professional translation service company is not optional. Even more importantly, the agency you select should have specific experience with ICO white papers, and other cryptocurrency documents. Expert translators with experience in this field understand the unique vocabulary and jargon that has been created around cryptocurrencies. If you rely on someone who is simply fluent in another language, they will have a significant learning curve to overcome. Build Confidence with Legal Disclosures There’s a misperception that disclosing potential risks will scare investors away. In fact, the opposite is true. Smart investors understand that there are always risks, and that there is no guarantee of a return on their money. By disclosing where those risks lie, investors know they can make informed decisions. These disclosures also give potential investors room to find ways to mitigate their risks. Disclosures in your whitepaper won’t scare investors away. It will ensure that the ones who stick around are confident. Emphasize The Importance of ICO Localization When you select a firm to translate your ICO white paper, don’t do so without properly interviewing them. One question you want to ask in particular is on localization. Specifically, how will they make your white paper appealing and relevant to potential investors in each country. Just consider the countries mentioned here as potential investment sources for your ICO. Not only does each country operate under its own set of laws and regulations, each is very culturally unique. A good translation service should be able to articulate how it will adapt and localize your ICO, in addition to translating it. An Effective ICO Whitepaper Doesn’t Take Shortcuts As the popularity of cryptocurrencies continue to grow, efforts have been made to make it easier for people to launch their own. This is potentially dangerous, as it can encourage people who are not qualified to attempt to launch currencies that are not sustainable. To that end, there are ICO white paper templates available. Using these is not recommended. Your white paper should be a very personalized document. It should be written with great care with your target audience in mind. It isn’t something that can be created by answering some questions or filling in the blanks on a preprinted form. Take the time to carefully craft a quality white paper. Be Specific About Your Offering Investors will want details about your token. How many will you be offering? What will you do with unsold tokens? What do you plan on doing with investment funds that you receive. What is your 90 day, six month, and 12 month plan? Conclusion Your ICO white paper is one of the most important documents you will create. This is the document that potential investors and other supporters will rely upon to determine whether or not your offering is worthy of their time and money. It is more than worth the time and money to compose a quality white paper, and to have it effectively translated by a professional service.

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