If you are interested in registering an ICO project in Singapore, then we will talk in detail about key points of this business.
A cryptocurrency is a digital/virtual currency unit, that uses a cryptography to provide a high level of reliability. That is why it is not so easy to fake it.
You can open a cryptocurrency company in Delaware with qualified assistance of our expert. You can consider such an American state as Delaware, where authorities are currently actively developing legislative standards for cryptocurrencies. You can open a cryptocurrency company in Delaware with our help.
Bitcoin is a cryptocurrency, that began to exist in 2009. Bitcoin offers lower transaction fees, than traditional online payment mechanisms, and is controlled by decentralized authority, in contrast to government-issued currencies. Today's market capitalization for all bitcoins (abbreviated BTC or XBT) in circulation exceeds $7 billion. Deciding to register a business with cryptocurrency, the initial condition is to open a bitcoin account.
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To register an ICO startup in 2020, you need to fulfill a number of requirements.
The first step is to determine the uniqueness of the project. The more unique the investment becomes.
For your next steps you will also need the assistance of qualified specialists. You can order personal advice on the preparation of a detailed financial plan for your ICO project, without which cooperation with investors is impossible, from the specialists of YB Case. In the financial plan, it is necessary to calculate the payback period, the cost of everything necessary for the implementation of the project, as well as the planned profitability. Next, it is necessary to issue a prospectus taking into account all the peculiarities of the legislation.
In the meantime, experts of our company are providing assistance in the preparation of an emission prospectus for ICO projects.
If you are unable to start an ICO business by fulfilling all above conditions, then you have the opportunity to contact us for help.
An ICO is an initial offer of coins, i.e. an exchange of a new crypto token for cryptocurrencies, such as Bitcoin or Ethereum. ICO is a tool for raising funds for startups, which allows you to bypass the classic ways of financing, for example, venture capital.
ICO logistics combines 2 financing models: the initial public offering of promotions and negotiable investments. Traders buy digital currency units, which are then exchanged for goods/offers. Today, the bulk of coins are used to finance companies and develop new plans.
What benefits do ISO projects bring to investors?
After the completion of the ICO project, coins can be exchanged, which in turn led to the growth of speculative methods in the cryptocurrency market. The ICO traders hope, that a successful plan will raise the price of the coins.
Since its launch in 2014 at a price of $0,31, the cost of Ether has increased by 100,000% to its current price of $343,79. Although this is not much, the original investors in the Golem Network received 3,000% of the investment return, as the November ICO price of $0,01 rose to $0,30.
We recall, that YB Case team provides full legal support for the registration and management of ICO projects in Singapore and other foreign jurisdictions. We are also preparing legal opinions on international law issues related to the activities of cryptocurrency exchanges.
Cryptocurrency transactions are anonymous. Coin issuers are not required to identify themselves. In this situation, it is not surprising, that some ICOs were used to organize complex fraudulent schemes.
Singapore, also, did not escape cryptocurrency attacks. TenX CEO Julian Hose announces “Circular diagrams” with virtual currencies. Its essence is that its players attract large traders and promote coins to increase its value in order to earn millions in a short period. The prevalence of fraud is due to the fact, that there is no regulation in the ICO ecosystem.
Setting up a firm for an ICO project in Singapore will allow you to more profitably realize your intentions. This is a leading country, where friendly conditions have been created for innovative projects, especially ICOs.
- A future company name;
- A registered capital;
- Names of beneficiaries, directors and shareholders, as well as their addresses and confirmations (passports, utilities, etc.);
- The standard time for the registration of an ICO company in Singapore is 5 days from the date of submission of documents.
- Opening an account with a Singapore bank;
- A registration of a registered account on cryptocurrency exchanges and testing of input/output channels.
Thus, opening up a Singapore company for ICO would improve relations with investors. To facilitate the path to success, please contact us for advice on the regulation of ICO activities.