As more crypto-based startups launch, Initial Exchange Offerings (IEO) grow more popular. But what exactly is an IEO, and how does it work? And what should you consider when selecting one? 

## What is an IEO? 

An IEO ([Initial Exchange Offering](https://www.sec.gov/oiea/investor-alerts-and-bulletins/ia_initialexchangeofferings#:~:text=IEOs%20are%20similar,the%20digital%20assets.)) is a popular capital-raising strategy emerging companies use to raise funds for their projects. Unlike traditional ICO (Initial Coin Offering), where tokens are sold directly to investors, Initial Exchange Offerings rely on centralized exchanges to conduct the token sale. 

This adds a layer of security and transparency for the project team and the investors, as the exchange acts as a trusted intermediary that verifies the project's legitimacy and backs the sale. 

As a result, IEOs have quickly become the preferred fundraising method for many blockchain-based projects looking to gain exposure and credibility in the market. 

The first version of the concept happened in January 2019, when Binance Launchpad launched the [BitTorrent Token](/news/article/btt-crypto-price) (BTT). 

## How does an IEO work? 

Typically, IEOs work in several stages. Here’s how to plan for this capital-raising effort from the beginning to the end: 

- Study market needs: During this phase, the startup’s founders need to identify a market need, get data about it, and design a solution that meets this need. 

- Prepare the MVP: Once the solution is identified, the team seeking funding has to develop a minimum viable product. This is a working prototype of what the actual product will be post-funding. 

- Write a white paper: With the product ready, the company needs a white paper. This document explains the need they spotted, the solution, a roadmap for implementing the solution, and the tokenomics. 

- Develop tokens: The next phase often involves selecting a blockchain, setting up smart contracts, and programming the coin. 

- Selecting an exchange and listing the coin: The last phase involves choosing a crypto trading exchange where the IEO will occur. 

¢¢ What to consider when selecting an IEO 

Here is what you should factor in: 

- The exchange’s reputation: Customer reviews help determine platforms that host lucrative, secure, and legitimate IEOs. It also indicates which exchange is likely to attract more investors. 

- Liquidity: The exchange supporting an IEO needs to have enough liquidity for the token in question. Liquidity ensures buyers can swap the coin with ease. So aim for platforms that provide multiple currencies and trading pools. 

- Safety: When selecting an IEO platform, prioritizing safety is crucial. Look for a platform with secure software and robust data privacy and security measures. 

- Ease of use: Choose easily accessible platforms. Consider factors such as Know Your Customer (KYC) requirements, registration criteria, and the user interface. Complex platforms may overwhelm you or scare away potential investors. 

- Availability: Consider regional restrictions for the IEO platform you want to use. Some exchanges are unavailable in specific regions or countries. So, if you come from or have target investors in such areas, this can pose a challenge. 

## Pros and cons 

Like many digital asset space processes, IEOs have advantages and disadvantages. Let's break down the advantages and disadvantages of initial coin offerings. 

### Pros 

- IEOs are safer than other early-stage investment options, like ICOs. Because they are attached to pre-existing and reputable exchanges, there’s a lower risk of fraud and scams. 

- The exclusivity of IEOs also makes them impressive. These investment opportunities are only open to the exchange’s members, reducing the complications of public access. 

- IEOs offer a ready user base for startup founders. Because the exchanges supporting them already have users, it’s easier for companies to find potential investors. 

### Cons 

- Listing coins for IEOs can be costly, especially when listing on high-ranking trading sites. Additionally, companies may need to pay exchange commissions on the money earned. 

- IEOs can also limit the investor pool. This mostly happens when the selected exchange has regional restrictions or complex KYC processes that lock out investors. 

## Conclusion 

IEOs are impressive opportunities to generate capital for budding organizations. They are also a more secure way to make early-stage crypto investments. However, it always pays to be cautious and do research before settling for an IEO. 

What Is an IEO and How Does It Work?

CoinSwitch is a cryptocurrency exchange aggregator launched in 2017 that has made a name for itself, especially in the Indian digital asset market. However, its unique ability to help customers find the best crypto conversion rates across multiple trading platforms has earned it a significant global user base. 

## Pros and Cons 

There are several benefits to using [CoinSwitch](https://coinswitch.co/) for exchange aggregation. But there are also demerits. Here's a breakdown of some of the site's pros and cons. 

### Pros 

- The platform supports about 400 coins and actively trades at least 100. 

- Clients can benefit from a highly rewarding Bitcoin referral program. 

- User-friendly interface. 

### Cons 

- It is unavailable in the US and in US territories like American Samoa, Virgin Islands, St. Thomas, John, Croix, Puerto Rico, Guam, and North Marina Island. Traders from North Korea, Pakistan, Syria, Afghanistan, Iran, and Cuba can also not access the site. 

- The site does not support fiat deposits. 

## Services 

Besides CoinSwitch’s pros, which make the site quite popular, this aggregator has several other services that make it a preferred cryptocurrency trading site. Let's explore these services. 

### Payment Platform 
CoinSwitch serves as a payment service platform. Typically,  users can pay invoices in one currency, and the receiving party can get them in a different currency. 

Because the platform supports more than 100 cryptocurrencies, it is remarkably easy to swap these coins. 

The payment feature manages conversions and calculates how much clients will save when they choose cryptocurrency over traditional payments. This makes it highly appealing for businesses because it saves time and money. 

### Crypto Rupee Index 

The Crypto Rupee Index (CRE8) helps investors understand the Indian digital asset market. Its insights help predict market patterns and serve as a benchmark for cryptocurrency portfolios. 

CRE8 analyzes factors like innovation and digital asset adoption in the Indian market. This provides a local indicator and reduces dependence on international indices that may not accurately portray the market. 

### Systematic Investment Plan 

The [Systematic Investment Plan (SIP)](https://www.law.cornell.edu/wex/investor_protection_guide_systematic_investment_plan_(sip)) avoids [Bitcoin volatility](/news/article/bitcoin-volatility-price-drops) and price fluctuations for other cryptocurrencies. With this feature, users buy crypto at a fixed monthly price by setting the purchase date and the amount they're willing to spend on buying a token. The minimum acceptable amount is â‚¹100, or $12.11, while the maximum is â‚¹2,50,000, or roughly $3,027. 

## Supported payment methods 

Payments made on this aggregator can come from various payment methods. Currently, the exchange supports NEFT, RTGS, and IMPS payments. These are all bank transfer payment methods, but the aggregator guarantees they are convenient. 

Through these payment systems, customers can buy cryptocurrencies using USD, EUR, JPY, and RUB. 

## Transaction limits 

Transactions on this aggregator come with various limits. The exchange's lowest trade is $50, while the maximum is $10,000. There's also a $50,000 monthly cap on transactions. 

## KYC requirements 

To get an account, you simply need to sign in. However, users must complete a Know Your Customer (KYC) verification process to transact on the platform. Successful completion requires users to have the details listed below: 

- PAN card. 
- An Aadhaar, Voter ID, or Passport. 

CoinSwitch's KYC process does not allow a driving license. 

## Security 

Security is a major consideration on CoinSwitch. The site prioritizes multi-level security and advanced encryption. It also adheres to global best practices for [cryptocurrency trading](/learn). 

## Customer Support 

CoinSwitch has a consistent customer support team. Users can send an email explaining the support they need or raise a ticket on the website. However, the platform has a 3.0 rating on TrustPilot, meaning there may be a few inconveniences depending on the nature of a customer's complaint. 

## CoinSwitch conclusion 

CoinSwitch is a leading crypto exchange aggregator. It is a great platform for India-based traders but has features that global investors can benefit from. 

Besides notifying users of the best rates in the market, the aggregator offers a handy payment method, a crypto rupee index, and a systematic investment plan. 

Overall, the platform has a great user experience and is worth a shot. But do your research to understand whether it's your best choice. 

blue image of coinSwitch logo next to man trading

CoinSwitch: India's leading crypto exchange 

In the cryptocurrency world, initial coin offerings (ICOs) are a popular way for startups to raise capital for their blockchain-based projects. Investing in a crypto project through its ICO can also be rewarding for early investors. So what is an ICO, and how does it work? 

Let's explore this and how to identify a project worth investing in. 

## What is an ICO? 

![Blue image of ICO website screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_06_01_at_14_48_02_b9ccbafdc6.png)

An ICO is a frequently used method of raising funds deployed by crypto startups to finance their blockchain-based projects. It is, in many ways, quite similar to an IPO (initial public offering). 

ICOs involve startups creating and issuing new digital tokens or cryptocurrency to investors in exchange for funding. The company then uses the funds it raises to develop and launch the project's platform or product. 

Essentially, an ICO allows startups to bypass traditional fundraising methods and access a wider pool of potential investors while also allowing investors to invest in promising new cryptocurrency projects in their early stages. 

A good example of a successful ICO is [Ethereum's ICO, which raised more than $17 million](https://www.gemini.com/cryptopedia/initial-coin-offering-explained-ethereum-ico#section-ethereums-role-in-the-ico-boom). 

## How does an ICO work? 

Different stages lead to a successful ICO. Here is a summary of what a project team has to do to land a successful ICO. 

- Research and documentation: The process begins with the cryptocurrency startup creating a whitepaper that outlines their project and the goals they aim to achieve. The startup then sets a target amount of funding they hope to raise from the ICO. 

- Building the product: The startup can now start building the project. This will often involve creating the platform, features, and tokens to help users access the features. 

- Pitching, promotions, and campaigns: The company will begin approaching potential investors at this stage. Project teams can achieve this through cold pitches, social media campaigns, or word of mouth. The aim is to inform investors of the information contained in the documentation and ask for their financial contributions. 

- Initial coin offering launch: This is the D-day when investors buy the project's tokens using an existing crypto like [Bitcoin](/news/article/how-to-buy-bitcoin-with-poli) or [Ethereum](/news/article/ethereum-max). An ICO launch takes place in rounds.  

## What is an ICO round? 

Because an ICO is intended to generate funds over time, there's often more than one ICO launch for a given company. Instead, these launches come in a three-round sale model: 

- The seed round: This is often the first ICO for any project. The round offers investors a bonus for taking an early investment risk in the project. Alternatively, it may offer a token discount, ensuring investors buy the coins at their lowest-ever pre-launch value. 

- Pre-sale round: The pre-ICO sale round tokens still sell at a discount, but less than the project offered during the seed round.  

- Token sale: This is the final ICO stage. The token or crowd sale offers the least discounts and rarely has bonuses.  

## The difference between ICO and IPO 

An ICO is used to raise funds by creating and selling a new digital asset or cryptocurrency, while an IPO raises capital through the public sale of shares of a company's stock for the first time. 

Additionally, ICOs are often less regulated than IPOs, and investors in ICOs typically receive the newly created digital tokens or cryptocurrencies, while investors in IPOs receive company shares. 

## The pros and cons of an ICO 

Like most financial investments, ICOs have pros and cons. Here's a breakdown of an initial coin offering's main merits and demerits. 

### Pros 

- ICO enables startups to raise funds without giving up equity. 

- If the project succeeds, they allow investors early-bird access to platform features and impressive returns on investment. 

- ICOs establish a community of incentivized users, ensuring the project has demand even before its launch.  

### Cons 

- Some ICOs can be financial pitfalls or scams. 

- They are not very well regulated. 

## How to spot a legitimate ICO 

You can take several measures to avoid spending your money on ICO rug pulls and doomed projects. Let's explore a few tips on how to spot legit ICOs. 

- Read the project's white paper: This will help you understand what it's all about. Consequently, it helps in assessing the organization's growth potential. 

- Review the project's team: Do your due diligence on the company's team members and analyze the success of projects they were previously involved in. 

- Join the project's community: You can learn a lot from following a project on social media and joining its Discord server. The concerns raised on these platforms and the responses offered can help you gauge the company's legitimacy. 

## Frequently Asked Questions 

### Are ICOs safe? 

ICOs can be safe if legitimate companies conduct them. It is crucial to #DYOR (do your own research) to verify a project's legitimacy before you put your money into it. 

How to get information on an upcoming ICO? 

Information on ICOs is often present on the social media pages of the given projects. Additionally, you can follow valid crypto investors, subreddits, or Discord channels that discuss upcoming projects to know what's trending. 

What is an ICO and How Do They Work? 

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