IEO - What is it ?
An Initial Exchange Offerings is a fundraising technique like ICO, but the difference between an ICO and IEO is that IEO relies on the exchange for the whole fundraising process. In IEO, the tokens after the legalization process get listed directly into a top-rated exchange.
Listing tokens in exchanges don't require separate marketing of tokens as the exchanges already have a notable amount of traders. The exchanges take up the response for whole IEO process and even fundraising takes place in the exchange sites.
Why Business Individuals prefer IEO than ICO?
As the ICO ban in China made crypto startups to find alternative solutions for fundraising for their business and projects. This paved a way for this new trend of crowdfunding called as IEO. As this IEO allows for fearless fundraising over laws and authorities made them visible all around the globe.
Every business individuals drift towards IEO for fundraising as it proved to be an effective method over ICO. The concept of IEO was first introduced by Binance in 2017. But it took two years to reach high market attention and by 2019 it managed to collect nearly $7.2 million within 15 minutes. There are many successful IEO projects over the year and this attracted massive Entrepreneurs to choose IEO for fundraising than ICO.
How to Participate in an IEO?
Here are the steps to be followed to participate in an IEO.
- Check whether your project is indeed conducting an IEO.
- Check out the lists of exchanges that are hosting the IEO.
- Sign up for an account on the exchange by finding out their Know Your Customer (KYC) and whitelisting procedures
- Find out the cryptocurrencies that will be accepted during the IEO and fund your account appropriately.
- Wait until the IEO starts purchasing your tokens.
To know about the benefits of IEO and Bitdeal's IEO services visit their page Bitdeal's IEO Development.