“I think there will always be need of trusted voices in the investment community, but what the ICO markets are showing is that the world has incredible demand for future-looking projects!” – Adam Draper
These days ICOs are all the rage. Despite tougher regulations from the SEC and greater disclosure requirements, many business organizations continue to hold their own ICOs.
Most of them do it to launch their specific brand of crypto tokens that can be used and traded over the company’s blockchain platform.
Reports from the crypto world show that more than $4 billion has been raised through ICOs held in the first three months of 2018 alone. We believe that this is only the beginning of a trend as more and more businesses continue to raise their own digital tokens.
Digital Tokens Are Here To Stay
Blockchain based crypto tokens make life easier for everyone. These tokens can be traded over an openly accessible P2P network. The only thing you need to get a token is an internet connection and an e-wallet assigned to a specific IP address.
Holders of a token can trade it to anyone around the world in a matter of minutes. It is very secure and cannot be stolen as long as you follow basic guidelines on keeping your tokens secure.
The blockchain also makes it possible to keep a complete record of transactions that have ever taken place on a network.
It’s no surprise that the blockchain platform is considered the most complete and accurate record of digital transactions that we can create, given our current technology level.
Alt Coins and How To Promote An ICO on Reddit
Just as Bitcoin is the most popular cryptocurrency created on the blockchain protocol, Reddit is undeniably the most popular messaging board on the planet.
Fashionably called the “front page of internet”, the Reddit website is used by hundreds of millions of users from around the world every day.
It thus becomes crucial to know how to promote an ICO on Reddit.
With a very active community of posters, it is the perfect messaging board to spread word about new ideas and businesses. The site is subdivided into more than a hundred thousand message boards called subreddits.
One of the most popular subreddits on the website is “altcoin discussions”.
It is a messaging boarding dedicated to cryptocurrencies other than Bitcoin. It is also the perfect place to announce new crypto coins through the announcement thread.
The announcement thread allows new ICOs to introduce their tokens to the world. A good announcement thread includes an easy to understand summary of the token, its purpose as well as the support network that is backing the coin.
Your token’s summary should also include details about the maximum coin limit and an introduction to the development team behind the idea.
If any of the developers have had any previous experience with cryptocurrencies, it should be noted and advertised.
This is an important factor as a new token with an experienced team of developers behind it is likely to do well in generating investor interest. All of this becomes relevant to promote an ICO on Reddit.
Creating a Subreddit for Your Token
In order to have a successful sale it is very important to promote the token well in advance of the ICO.
Perhaps the best thing you can do to promote your ICO on Reddit is to create a messaging board based on your token.
The messaging board works as a company prospectus and allows the developers and backers to communicate all relevant news regarding the token to future investors.
An active messaging board with regular updates on coin development will help build investor confidence and support for the coin.
Some of the users may also spread the word around to other alt coin communities. Reddit uses a voting-based algorithm for advertising and topics with many upvotes tend to get displayed higher on search results for users.
All of this becomes crucial to promote an ICO on Reddit.
Engage with Your Reddit Audience
One way to attract potential investors to your token is to invite questions from your audience. Your token’s progress and development reports may keep your supporters on board.
However, what really turns fringe supporters into core believers is when they are actually engaged with your development team.
Encourage your supporters to find out more about your project by asking question about the token. Make sure that you answer these questions in a timely manner. This will show the supporters how serious you are about your project.
Take user feedback and suggestions about your token into consideration. The crypto community on Reddit is quite knowledgeable and many of them can offer great advice about how to improve your token.
Criticisms should be taken with a positive attitude. If people are going to invest their hard-earned money into your token, your business needs to show them what makes your project unique and better than others.
It is advised that you do so without getting angry about skepticism.
Keep all of this in mind when you promote an ICO on Reddit.
Buying Upvotes and Advertising
Reddit, much like any other social media platform, is a business. The company allows purchasing upvotes for your subreddit.
It also allows positive responses to be displayer higher than negative comments for your token. Some companies have also claimed that they buy moderators who can swing the position of negative and positive posts.
While we don’t advise going this route, the option is certainly available if you are really keen to promote an ICO on Reddit.