Why have a whitelist of token buyers

ICO whitelist

All ICO’s should create a whitelist of ICO buyers¬†

Whitelists have a number of benefits for ICO’s:

  1. Identifying your buyers
  2. Establishing interest
  3. Doing KYC/AML checks
  4. Capturing user data
  5. Building rapport

It is relatively easy to capture the data by allowing customers to create accounts.

How ICO Whitelists work

Whitelists are a list of pre-approved token buyers. The smart contracts only accept purchases from buyers that have their wallets pre-approved to buy the tokens and will automatically reject token buyers that are not approved by the smart contract.

Conducting KYC/AML

It is important to do Know your customer (KYC) checks and anti money laundering checks (AML).

KYC is for an ICO is basic requirement that involves getting an identity document.

AML is checking that these individuals are not on a list of sensitive individuals (known criminals, politically sensitive individuals and any other individuals that governments have deemed to problematic).

Building Rapport

Establishing rapport with your potential token buyers is important and can be done through sending emails with ICO updates, company news etc.

You can also promote other communication channels such as your Slack or Telegram group.