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How to Write a Good White Paper for an ICO?

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It can be difficult for people to stay up with the constant increase of new cryptocurrencies within the market. Initial Coin Offerings, tend to occur every day and it can be hard to differentiate the quality between them all. With cryptocurrencies receiving a boom in media attention and practicality, it’s no wonder why we see so many companies rushing to develop a new ICO as soon as possible.

One way to gauge if your ICO is worth any value is by checking out its white paper. If it’s filled with gaps in information or a multitude of grammatical mistakes, chances are your readers won’t be interested. So, it’s up to you to make sure that your ICO is written with them in mind and that it fulfills a need that they are seeking.

If it’s done correctly, an ICO can be a lengthy and complicated process. Aside from developing the coin (including the wallets, exchanges, and other features), there is a large number of business and commercial factors you have to consider when you create own white paper for ICO. And in this guide, we’ll teach you some insider tricks and techniques that will help differentiate your ICO from the competition.

What is a White Paper?

White papers are informational documents that are issued by a nonprofit organization or a company, to highlight the features of a solution. They are marketing and sales documents, used to persuade potential customers about how their ICO works and what it plans to do within the upcoming months or years. White papers are made to act as a marketing tool before a sale and are not a technical document or a user manual that’s used to support the customer after they’ve made a purchase.

Put simply; an ICO addresses everything your readers need to know about your cryptocurrency before they start to buy, invest, or use it. Despite what an ICO is supposed to be, there is a multitude of ICOs that don’t take it seriously. They create a low-quality document that gives the reader vague information about the offering. In fact, they’ll attempt to say how their altcoin is the greatest and how it will defeat its competitors. This doesn’t help your audience, and you run the risk of ruining the credibility of your whitepaper.

Additional Tips:

  • Create a topic that people want to read – Sure, you can just make any ICO, but forgetting your audience will reduce its chance of success. The best ico whitepapers are well written and engaging to their target audience. When speaking on cryptocurrency, you need to make your information clear and concise so that any average person can understand your objective. Whatever topic you have, make it interesting so that people can support it.
  • Be Professional and Descriptive – Writing a white paper is different than writing a blog. You need to have a descriptive and business tone when creating one. As a rule of thumb, your white paper should be 15-30 pages long so that you address exactly what your altcoin is attempting to do. State your short and long-term goals and explain how you and your team plan on fulfilling them.
  • Roadmap – Your roadmap is a timeline that details what your team plans to accomplish. We suggest that you create realistic dates for your overall project and make sure that your team reaches each date on time. Doing so increases the credibility of your project and helps your audience get more involved with your idea.
  • Create an Eye-Catching Intro – Once you start to write a white paper for ICO, you’ll have to take time making your intro appealing to your reader. Start by developing an intro that piques their interest. After that, you want to describe to them what problem your ICO is addressing and how it attempts to solve it. This means that you’ll have to create an organized list of topics you want to discuss and a summary of the entire whitepaper.
  • Organize your First Draft – You should make a clear outline before writing an ICO white paper. As we’ve stated earlier, make sure that your white paper and goals are inline. Get their attention, deliver the value they are seeking and bring them to further action.
  • Write the Paper First, Edit Second – Once you’ve created a structured outline, get all of your thoughts on paper before attempting to edit it. Until your first draft is complete, don’t even think about editing it. You won’t have an issue going back and making your paper flow better afterward.
  • Proofread – After the first draft, go back over it and see what other things you can do to make it better. If possible, ask your editor or someone else for their opinions. They’ll catch the issues or mistakes that you might have overlooked. Also, read your white paper out loud to ensure that there are no run-on sentences or awkward phases.
  • Tell Them How You’ll Help – Whether if you’re selling a utility token or a service, make sure to mention it throughout the paper and in the end.

Show Don’t Tell

Use infographics, use graphs, use anything that makes your white paper appealing! They break down the monotony of constant words that are displayed on the paper. Also, it prevents your reader from getting bored. When creating graphics for your whitepaper make sure that it’s concise and to the point.

On the other hand, don’t include images just to be placing them on the paper. Only use relevant information about the topic so that you can increase the knowledge your reader gains when using them. You should use:

  • Logos
  • Graphs
  • Charts
  • Statistic Tables

Some people can use visual documents and gain the full idea of your ICO without having to spend minutes searching through the entire document. Include infographics inside your white paper so that it intrigues the reader and increases the credibility of the information you’re trying to give them. Especially if you’re trying to compare your value to your competitors.

Remember the Finance

You have to understand that cryptocurrency technology is a hybrid of financial and technological. But, there are some white papers that don’t explain the financial facts. You have to think about the fundamentals of your cryptocurrency before publishing a white paper. This means that you have to include the maximum token supply, is there any fiat elements you’re including, market cap share information that you wanted.

Most importantly, you have to explain why, if your white papers are unable to place financial information within them is higher than usual. Explain to your readers why you’re broadcasting the numbers. You have to explain to them how much value they get from using your network and your cryptocurrency. Without any explanation or tangible backing, your ICO white paper will sound like you’re only trying to get rich. So keep your financial information on the page! It will increase conversions and investors wanting to buy into your project!

Create Your Own Confidence

If you’re making an ICO, you want to be confident in front of your audience. Talk to them, Introduce yourself and your company, why you’ve decided to place your coin on the market, and concrete examples of benefits that your token offers. You’re going to need more than a “we’ve discovered a serious market need.” The market doesn’t need your altcoin, but you have to explain why your reader would.

Also, invite people to communicate with you about what you and your ICO are offering. Make it clear that you can communicate with potential investors. Both investor and the ICO creator are on the same side. Remember, cryptocurrencies are gaining the attention of multiple investors, who control a serious amount of money. You should build the confidence in both higher and lower ends of the investment so that you gain the most capital to complete your project.

Make it Simple

Some people tend to go overboard with anything they write. Some low-quality white papers fallen victim of bombarding the reader with excessive information that they don’t need. The main goal is to provide information to the reader without boring them. Keep the information easy to read, blocked, and simple.

Start it off with simple, nontechnical information. After that, you should go to your technical stuff so that they get a deeper understanding of what your project is about. Your reader might not have the same technical knowledge as the writer, so make sure your white paper is applicable to all reading levels. Don’t assume that they want the complex information in the beginning.

Bitcoin’s Price Value and How it Helps

[Figure 1: Bitcoin Price Surge]

Statistically speaking, we can draw some inferences about cryptocurrency based on this graph. On this graph, we see that Bitcoin has reached about $2,000 in value.

[Figure 2: Bitcoin’s Current Value]

Based on CoinMarketCap, Bitcoin is now at a value of $9,501.60 USD. What does this mean for people trying to create white papers? It means that you have the ability to make the same amount of gains in value if you create a good white paper. This means that once you get a white paper completed, investors, a strong community, and an exchange where people are trading your currency, your project could gain a lot of market share in the cryptomarket like Bitcoin! So you should make a paper for you and your company’s long-term benefit.

ICO White Paper Template

Here is a quick list of topics your ICO should discuss upon. You can also change them to your liking, but make sure all of the information there is solid.

  • Problem: State the issue that your ICO project is trying to fix. For example, are you making a decentralized version of products made in the technology, medical, creative, or financial field?
  • Product Description and a Solution: What is your product trying to do? You need to explain the exact reason why your ICO can correct a problem with the field you’re partaking in. And describe your product! When you do, you’ll increase your audience’s trust and make your ICO more transparent and legitimate.
  • Token Commercialization: In this section, make your white paper speak on how your token is useful for a wide audience. Describe how your product works when users interact, buy, sell, and trade it within your platform. You have to clearly state how the token matches with the goal of your project and how the technical provisions of the commercialization.
  • Team Members: You should also talk about who is participating in your project, advisors, developers, senior executives, and anyone who will be directly bringing value to the project’s goals. Each of them should also have a verified professional account so that each of your team members is held accountable and make your company realistic to the public.
  • Token Perspectives and Issues: The tokens should be thoroughly discussed by means on when you’re planning to sell them, how much is your project keeping in reserve, and how they will be distributed. If possible, you should create a bonus for people who participate in the earlier token sales. These customers are your regulars and will continue to invest in you if you give them a reason to.

It’s crucial that your team has some success and a strong team behind it. Even though the team section is usually at the bottom of the page, you have to let your audience have a clear view of your brand. If anything, your team needs to have some knowledge about blockchain.

[Figure 3: Copy track ICO White Paper Example]

In this image, we can see a prime example of a good ICO white paper example. Not only does it introduce its goals, but it also gives the reader the information they need so that they can understand what the project is about. When looking at white papers, make sure that everything written on it helps your reader and get them interested in your token and the overall scope of the project.

Conclusion

Making your first ICO white paper will take some time. But, stay diligent and continue working on it. If there are any errors, remove them. If there is anything you’ve left out, add them. Maintaining the quality of your whitepaper is the best way to make your audience gravitate towards your token and invest in your vision. Ultimately, keep your paper well detailed and easy for your audience to get, and you’ll see more success and user support for your ICO!

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