The Role of Ratings Agencies in Launching an ICO

 

Debate has been stirred lately about the role of ICO rating sites on the success of projects. More specifically, the debate surrounds how transparent these sites are when it comes to providing true and honest reviews. To counter existing rumors, major sites such as ICOBench have recently implemented more rigorous review processes when it comes to appointing platform reviewers.

That raises the question of just what kind of role the ratings sites play in the success of an ICO. Just how important are they?

Respected Community Exposure

Whether you agree with their concept or not, we cannot ignore the fact that most potential ICO investors check out the projects on a ratings site first. This means that a project will gain valid and valuable exposure to the market which it is try to attract. This can only be a positive.

Making the Correct Choice

There are many ratings sites available to choose from when launching your project. The major player in the industry is as we mentioned above, ICOBench. Therefore if you want the most exposure, that can be a god place to start. There are many other popular alternatives though. These will vary in terms of how they write reviews and how objective they are being. FXEmpire runs a network of several popular ratings sites which manage to attract very strong amounts of traffic whilst providing factual, objective reviews.

Combatting Rising Costs

Cost is a huge issue. This is exemplified by the big players in the industry charging anywhere from 1-10BTC for premium listings. For many projects, this type of pricing is simply not sustainable. IF you are looking to reduce your running costs, it may be worth looking at some start up ratings sites. These can still offer great promotion and potential at a much lower price point.

Decentralized Solutions

Ultimately, with many questions circulating about the legitimacy of some of the main players in the ratings industry, the time will eventually arrive where we pursue decentralized solutions on the blockchain. This will ultimately help us to ensure complete transparency and fairness for every project.