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Is 2020 the year for Cryptocurrency?

by Hashogen | Oct 27, 2020

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In this year of 2020 for Cryptocurrency the Initial Coin Offerings (ICOs) are massively trending, but there lays uncertainty about how to guarantee that an ICO has the good potential for success in 2020. Also can lead organizations down a path they shouldn’t be on. Thus making a measured, educated assessment of a startup’s fitness for the ICO fundraising path, and implementing successful operation post-ICO, are the key steps toward an ICO success story.

Many have used benefits of Initial Public Offering (IPOs) and private equity fundraising in relation to the increasingly familiar ICO route, and find the structure of ICOs attractive for numerous reasons.

It is enumerated noted that ICOs offer owners the opportunity to retain 100% of the company’s ownership equity, meaning that much-needed capital doesn’t compromise the startup’s integrity. For ICO fundraising to be successful, an entire token ecosystem and sustainability model should be conceived and implemented before it is taken to market. 

In addition the token has to remain viable as more than mere novelty after the ICO is complete. Making these assurances to investor’s needs startups to invest significant equity to make certain that an ICO is the good course of action.

Top Questions to Ask Before Launching an ICO 

Answering these questions would assist a firm determine how they will approach an ICO before, during, and in the aftermath of the token launch.

  • Is this a security or utility token?
  • Do you include U.S. citizens in your ICO or Token Generation Event (TGE)?
  • How is the CEO/company going to spend the money once the ICO concludes?
  • What would be the ongoing revenue stream for the business post-TGE?
  • When is the best time to convert your coin?
  • How volatile is the current market? 
  • What tax rate would you pay consider that it is revenue? 
  • What are the costs in fiat currency that you need to cover (paying employees, suppliers, etc.)? 

Eventually consider that the conversion, in the case of utility tokens, is potentially a taxable event, which is a new cost that must be totally considered.

Why to Select Hashogen Technologies?

It is a familiar motivated cryptocurrency exchange software development company with a team of skilful resources. Their key motto of us is to offer technology-driven services at an affordable cost without compromising the quality.