Thanks to the concept of ICO, now there is no need for the startups to depend on the traditional crowdfunding providers. Because they are able to raise the necessary funds for their project from the token sale event. Based on the Coindesk report, the total amount of money raised by the ICOs in the first quarter of 2018 was close to $6.3 billion. This amount is more than the total funds raised for the whole of the year 2017. And, it is expected that this trend will continue in the near future as well.
Even though ICOs provide a lot of flexibility when compared with the traditional crowdfunding methods, still, some startups are not able to raise funds from the token sale events. Why? Because, the majority of the ICOs focus only on technology, finance, communications etc. The ICOs related to the other industries are given only less importance. Hence, they are not able to raise enough funds for their projects.
On the other side, many investors are not able to choose the right kind of ICOs for funding. Because they could not get any kind of expert opinion, they end up taking the wrong investment decisions and lose their money.It is found that almost 80% of the ICOs are not able to succeed as they fail to meet the investor’s expectations. Besides that, the investors are losing money every year through token thefts, security breaches etc.
So, there is a wide gap between the energetic investors and the ICOs. To reduce the gap between them, Bitdepositary is developing an innovative concept called ICO Funding community.They call it “TeamBit”. TeamBit consists of lawyers, tax consultants, accountants, specialists/experts and more. The community will do a thorough analysis of the ICO and takes a decision of Go or not. Any ICO project will be accepted to the Bitdepositary platform only if reaches the minimum points set by the platform. In this way, the investors will get assured that their investment goes only towards a legit ICO and not a scam one.
Even if the startup is not related to any trending technology, it can still raise the funds provided if passes the voting procedure. The project has to get a minimum of 55% points to get listed on the Bitdepositary platform. Otherwise, the project will be rejected and the investments made so far will be returned back to the investors without any deductions. To learn more information about the funding community, please visit the official whitepaper https://bitdepositary.io/#white-paper.
Besides the funding community, the bitdepositary platform will also have its own cryptocurrency exchange to buy/sell altcoins and tokens. Plus, it also offers a multiwallet which can hold all the leading cryptocurrencies like bitcoin, Ethereum, Dash, Litecoin etc. If an investor or a startup needs access to the platform, then they should own BDT tokens. Any individual who owns atleast 5000 BDT tokens iscalled a community user.To know more information about the procedure to buy BDT tokens, kindly visit https://bitdepositary.io/.