Reaching Your ICO Fundraising Goals
How one innovative tool can reduce friction for your ICO project’s prospective investors and potentially result in up to 20% more funds raised.
Since the late 2017 ICO boom, it has become increasingly hard for ICO projects to reach their funding goals. In today’s harsh environment, it becomes crucial to remove all friction for prospective investors.
One thing we recommend to facilitate this is BestRate’s ICO Payment Tool. It allows projects to accept funds in FIAT and 80+ cryptos and facilitates the token distribution process. According to BestRate, their clients raise up to 20% more funds with it.
All you need to do is sign up, grab their code and embed it in your site. You’ll instantly have an easy-to-use payment widget that looks like this:
Why Use BestRate’s ICO Payment Tool
1. Over Eighty Cryptocurrencies Supported
BestRate is known for their primary service which is an aggregator of exchange platforms allowing users to find the best rate to switch cryptos. Their ICO Payment Tool supports all coins available on platforms such as Changelly and ShapeShift. They also support trading pairs from large exchanges such as Kraken and Bittrex.
An investor selects a cryptocurrency to make the payment. BestRate’s service finds the optimal price to exchange it to ETH which is forwarded to your ICO’s ETH wallet address.
2. Accepting Fiat Payments
This is undoubtedly the most advantageous payment option since it opens the door to prospective investors who are new to crypto. However, with current regulations, it’s tough to find a legal way to accept FIAT. Giving them a possibility to pay with a credit card is the best that an ICO can do to increase its conversion.
With the BestRatye tool, your investors can make the payments in EUR or USD with ease. All they need to do is to provide their email address, phone number, and card details — just like any regular online purchase.
Moreover, BestRate’s partners, such as Simplex and Indacoin, take all the KYC risks on themselves. They gather the necessary information about your investors, convert their money to Ether and forward it to your ETH wallet address. The transactions are irreversible, just like anywhere else in the crypto world, so refunds won’t occur unless you authorize them yourself.
3. Easy to Set Up
BestRate’s ICO Payment Tool only takes five minutes to set up and doesn’t require any technical skills.
Check out this short video to see the setup process:
All you need to do is specify all the options, such as token name, token price, ranges, and bonuses, input your ETH wallet address, generate the code and place it onto your website.
ICOs with strong technical teams can integrate this tool with their smart contracts or investors’ accounts with generated ETH addresses.
Client Testimonials
Over thirty ICOs and other crypto projects have used this payment tool and enjoyed its benefits. Here are a few testimonials.
Features for Flexible Integration
1. Ranges
Set up the minimum and maximum amount in ETH or USD that your investors can pay. BestRate’s partners Indacoin and Simplex allow to make the payments between $50 and $1,000 at a time, so set up the ranges not to make your investors confused.
Custom KYC Fields
BestRate’s partners take the KYC risks on themselves, but you can also specify additional fields that investors would have to fill in before they make the payment.
Appearance Customization
Customize the appearance of the tool and make it fit into your project’s color scheme.
Bonuses
Specify tasty bonuses for huge investors. Grant additional tokens to those who pay within a customized range.
Access via API
ICOs with strong R&D teams can use the BestRate API for deeper integration.
Token Distribution Methods
While the BestRate’s ICO Payment Tool is flexible in terms of accepting payments, you should also find a way to distribute your tokens among your investors. BestRate provides you with such an option.
Static Address
This is the easiest way to set up the tool. All you need is to specify your ETH wallet address where the funds will be forwarded to. Token distribution is handled manually.
Investors will need to put in their ETH wallet addresses while making the payment so that you could transfer your tokens later to them. It works best at the private sale stage when you work with a few huge investors whose payments you can process on a case-by-case scenario.
Distribution via BestRate
This distribution method is even easier than the previous one. All you need to do is to send BestRate a bunch of your tokens, and they will handle the rest and distribute them according to the token price you specify in the tool settings.
Smart Contract
This is the best choice for projects with strong R&D teams. You can integrate the BestRate tool with your smart contract using ABI and fully automate the whole ICO process.
Generated Address
Those who want to get maximum funds usually choose this option as it makes the process for the end user as simple as regular online shopping.
Create an account for each investor, gather all the necessary KYC information and link an ETH wallet where you will send your tokens to. Investors sign up using their email addresses and get the option to pay by credit card. This is the best option for non-technical users who are new to crypto.
For those ICOs who want to use this option, but don’t want to spend their precious time on development, BestRate offers reliable turnkey investor account functionality.
More than Just a Payment Tool
Apart from the payment tool, BestRate also offers you a set of add-ons.
- Powerful KYC add-on. Gather documents’ screenshots, selfies and any other information that you need.
- Token listing after ICO. List your tokens on the BestRate platform when your ICO is over.
- Smart contracts constructor. BestRate is fully integrated with the powerful smart contracts constructor from MyWish.io which can help you create a crowdsale, token or airdrop contract. Moreover, users of BestRate’s service can get a 20% discount.
Summing Up
As you can see, the product line that BestRate offer covers all the needs of any good project that has decided to raise funds via initial coin offering.
Surely, if you have a strong technical team you can make all these tools yourself: create an investor’s account, generate a smart contract, and integrate your ICO with different payment processors.
But no new IT product works smoothly from the very start, there are always bugs and errors. The only chance to make it work properly is to use a tool that has already been tested by someone else. Dozens of ICOs have used BestRate’s ICO Payment Tool and proved its reliability.
For more information, visit Bestrate.org/ico-payment-tools
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This post contains affiliate links. Based on original article by BestRate.
