What to do before launching a new cryptocurrency – Checklist for initial Promotion

So, you’re about to launch a new cryptocurrency, but you are a bit unsure how you can promote and maybe get lucky and get a bit of hype.

In this article, I will provide you with my personal experience of launching my own project.

What worked, and what was in no way worth getting into.

Where do I start?

Before you launch a cryptocurrency, there are some basic things that need to be in order.

First of all, you need to define your project.

Before any person decides whether or not they wish to invest their money, hashrate or time into a project, they research said project.

That means they need as much information about this new project as possible.

The more details, and the better they are presented, the higher the chances are that they will invest.

But.. Where do I start?

First of all, what is your project about?
Can you sit down in front of a stranger and tell them from start to finish what your project is about and how it will work?

If the answer to that is no, then you should not launch anything yet.

You must be able to have an answer to every question a person could have.
And the better you are at providing these answers at ease for the potential investor, the easier it will become to create and grow a community around your project.

Have you written a whitepaper for your project?

A what…?

A whitepaper… A detailed writeup of everything about and related to the project you are about to launch.

A well-written whitepaper will go a long way, as it shows the public that you really have a plan with this project.
If you want an example, then here is the whitepaper that I wrote for my own project that I launched.

The project sadly failed, but the experience gained from it was worth every penny… And I spent a lot of those!

Do you have a Bitcointalk Announcement thread ready?

When I mean ready, I do not mean posted and public.

The place where you will gain most of your initial exposure will be Bitcointalk.org.

And a great announcement thread will be the initial seed, to be planted in the crypto world when it comes to attracting and maintaining your community.

Your announcement thread must be as information-dense as possible and provide the user with everything they need to know initially.

This means that you must at least provide the following information:

  • Name of your project.
    • The name of your currency.
    • The ticker/short letter code for your currency.
  • Blockchain Details
    • How many total coins are you planning to mine/mint?
      • Does the blockchain move by Proof of Work, Proof of Stake or both?
    • Is there any form of premine?
      • What will said premine be used for?
      • Remember to provide the community with the address that contains the premine.
  • Project Details
    • Why was this project created? What problem is it trying to solve?
    • How do you plan on solving the said problem?
    • Provide a realistic roadmap.
      • When are you launching the blockchain/currency?
      • When are you planning to release services related to the blockchain or product?
      • When do you plan on to release the main product/service?
        • Will it be in stages such as alpha and beta version with a full release at last?
        • Will it be a single full release with future updates with new features?
  • Important Links.
    • Link to your own website.
    • Download links to your wallet software.
      • Windows
      • Linux
      • Mac (OSX)
      • Android, if you have it.
      • IOS, if you have it.
    • Link to the source code of your blockchain.
    • Link to Social Media and Chats.
      • Twitter account.
      • Facebook page.
      • Discord Server
      • Telegram chat group.
      • Telegram announcement server.
    • Link to your own or a public Block Explorer.
    • Link to your own or a public Mining Pool.
    • Link to any exchange your currency has been listed on. (As long as it is a trusted one, of course)

Do you have a website?

A website is a must.
If you do not have one, 95% of any potential investor will leave your Bitcointalk thread immediately.

But what does the website need to contain?

As a bare minimum, you must provide short but specific details about your project.
Think of it like your Bitcointalk announcement thread – It should be information-dense, but not overwhelming.

Then you need to link to everything relevant to your project.

All your social media, all the different wallet versions you offer, any services your coin is listed on.

Exchanges, Mining Pools, Block Explorer and so on… Just like your announcement thread.

Once you have your website put together with every link related to you, then you move onto the next part.

The more you have ready before launch, the better.

What Social Media accounts are needed for a new Cryptocurrency?

In short… All of them.

The more social media accounts you have setup, the higher is the chance that new potential investors will discover your project.

A fair warning though.
If you are feeling bold and want to utilize all the different platforms, then I highly recommend having a person dedicated to doing just that.

There are lots of different options to choose from and generally speaking, the more the merrier.

Why Twitter is an essential social media platform.

As the title says, Twitter is the most essential social media platform in the world when it comes to cryptocurrency.

Every project has its own account setup, that should on an almost daily basis update its community.

That is how it works for the bigger projects, and that is what you should do.

But why? Well, it keeps your community informed on a regular basis about what is going on.
Here is a short list of what I would recommend for you to post on your twitter on a frequent basis.

  • New Blockchain-related services/listings.
    • Mining Pools
    • Block Explorers
    • Exchanges
  • New Project related updates.
    • Show off images of whatever you are working on.
    • Provide short but precise updates regarding the project.
  • Interaction between you and your community.
    • If someone asks a question towards you, always attempt to respond.
      • If someone is flaming you, spreading FUD or attempt to hurt your reputation… Do not respond.
        It can hurt you a lot more if you do, and for the malicious people, it is only giving them more fuel to annoy you.
  • Interaction and cooperation between you and other projects.
    • This could be between your project and another currency project.
    • This could be between your project and another blockchain service.
      • Mining Pool, Exchange, Block Explorer.

Discord, my personal favorite platform for strengthening a community!

So, why is Discord my favorite?

It is because of the many options you have.

You can make as many text and voice channels as you want.
And each channel you make will have its own purpose.

Discord is amazing because of the number of options you have when it comes to permissions.

You can create as many ranks, with as many different permissions you want.

This makes providing information, managing your community and growing your community easier.

Essential channels for Discord

When you have setup your discord server, I highly recommend that you break it up into different sections with different channels.

This will make it much easier for any new potential user that joins your discord server, and it will allow them to find information or ask for help with ease.

  • Category
    • Channel
      • Description of the channel and why its important.

Above you can see the format the following list has.
It is important to mention that this is just a helpful list, and you should add more channels to your server when you feel it is necessary.

  • Project Official
    • Information
      • This channel is for some brief information about the project.
        Think of it as a description box of your project within your Discord server.
    • Announcements
      • I highly recommend creating an announcement channel where you can tag @everyone and provide them with news about the project.
        But think of how often you need to provide people with an announcement.
        There is nothing more annoying than getting spammed on Discord by some admin doing 2-3 @everyone tags per day.
        Keep it to a minimum and only use it for when there is an actual and somewhat important update that everyone should know.
        As an alternative, you could use @here instead to notify those who are using Discord actively at the moment.
    • FAQ
      • Do you see a pattern from new users joining the server, asking the same questions?
        Do everyone a favor and create a FAQ channel.
        I personally did not do this, and I instead had to be sure to reply to just about everyone who kept asking the same questions.
    • Official Links
      • This channel is for all the important links that are related to your project.
        But remember, it is only for official links and not for mining pools, exchanges and such.
        Save that for another channel.
    • Development / Github channel.
      • Are you actively working on something?
        Allow users to watch development as it is happening.
        Setup a bot that connects to your Github repository, and publishes every new commit you make.
Useful bots for your Discord server.

Coin calendars – Why they are undervalued.

Well, one place a lot of people seem to have forgotten is coin calendars.

It sounds really simple, and you might wonder if it is even worth it to post anything on them.
New coin projects that I have followed the past few months have all chosen or not been aware of these calendar sites and their potential.

But a lot of people are still checking these calendars on a daily basis, to look for new projects to invest in.

So, what can I list on these coin calendars?

Before Launch is the perfect place to start off by listing your project on as many coin calendars as possible.

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