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Why We Need Cryptocurrency Token Development Company?

Technoloader 0

Before the advent of cryptocurrency, raising funds for your business was an uphill battle. After blockchain technology was introduced to the world, things became easier. In the last couple of years, we have seen tremendous changes happen in the crypto domain. Many pioneering concepts have come to the fore and rendered many possibilities feasible in various ways. The idea of releasing tokens for raising funds for business has now become a global phenomenon.

Now, if you want to kickstart your venture, all you need to do is to find a cryptocurrency token development company and launch your project with whichever platform or channel. There are different instruments through which you can launch your project and tokens will get you access to the investors worldwide. Till a year back, we only had ICO as a tool for launching crypto tokens and amassing funds for starting. But now you can release your tokens for various purposes:

token development

For ICO (Initial Coin Offering)

ICO is probably the most prominently used crypto-based instrument for raising funds for business. In the year 2016-17, we saw a massive rise of projects which drew the attention of the entire market. Hundreds of projects have been launched so far and many of them have registered a massive success. However, this instrument has been condemned by many as well as it has been used for spurious reasons as well. Yet it is still relevant to many businesses and you can give your business venture a chance with it.

For STO (Security Token Offering)

Security Token Offering (STO) is relatively new but it has gained traction from investors for being the most reliable source. That’s because security tokens are backed by financial assets such as commodities, bonds, and securities. They have also brought in the regulations which were earlier missing in the utility tokens launched by ICOs. For investors, the credibility of the token is a very big thing and security tokens give them that. They are labeled as security and assure the traders that they won’t get cheated if they invest in this particular token.

For Exchange (Buying & Selling)

Tokens are important for the exchanges as well since every platform has its proprietary token which it sells to its users. The tokens released by exchange have greater reliability among investors, they are considered much more credible than the tokens launched by the ICO projects. That’s why they need to be built by an expert who could ensure that the tokens are compliant with all smart contract regulations as well. They need to create a robust mechanism and their functionality should be unaffected by any change.

For IEO (Initial Exchange Offering)

The newest addition in the crypto-based investment domain is Initial Exchange Offering (IEO). This instrument has earned applause from investors, entrepreneurs as well as exchange platforms as it is beneficial for all of them. This is a unique concept where the project owner cannot sell the tokens in a public sale. The tokens have to be registered with an exchange, which means the exchange platform verifies the project first and then only, it launches the tokens. This concept is not just reliable but more profitable for everyone and that is the reason a large number of exchanges are now introducing their IEO platforms.

cryptocurrency token development..Upshot

Whichever method you choose, you need to have an experienced token developer by your side. Whether it is a utility or security token, you need to sure that they are created with an environment that makes them easy-going for business. It also brings efficiency into the business making the transactions faster and more reliable. You need to choose a token development service that could make this happen for you.

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