Following the inception of Bitcoin’s mainnet release, an entire financial industry was born. A revolutionary peer-to-peer method of sending money set the foundational standard for the future of decentralization. As the world ushered in this radical cashless system, investors looked to the document that introduced the plan behind the innovation: the white paper. In this comprehensive guide, you will learn how to write a crypto white paper and take a look at a few prominent samples of some of the industry’s leading coins.
What Is a Cryptocurrency White Paper?
A cryptocurrency white paper is an authoritative document outlining a specific crypto project’s goals, strategies, and plans. It is presented as a PDF document similar to an ebook. The objective of a white paper for crypto is to inform readers of the complex mechanisms and issues in correlation to a project’s purpose and the technology behind it. In the crypto-financial sector, white papers often form a critical building block of a project’s success rate, and serve as the first impression of the enterprise. They provide in-depth analysis, history, tokenomics, and the value proposition of that particular coin.
Why You Need a White Paper for Crypto
The goal of a cryptocurrency white paper is to demonstrate that the project provides solutions to a problem in the crypto ecosystem. The white paper also often serves as a roadmap for an initial coin offering (ICO), with the technical concepts outlined within aiming to initiate the pre-sale phase of the token. Similar to how IPOs work in the field of fiat economics, an ICO provides a crypto-venture with its initial funding in the marketplace.
A well-written white paper enables a company to secure authoritative leadership in its field and, consequently, boost its sales. Without this, investors are left with no guidance as to why they would allocate their funds to the project. In sum, the crypto token white paper provides the reason for investment.
What to Do Before Writing a Crypto White Paper
1. Research
Before writing a cryptocurrency white paper, perform some standard research on how these documents are created. You can start by looking at other examples to get an idea of the structure and outline that successful cryptocurrency white papers have implemented.
Crypto white paper examples that are worth studying include:
Every idea that will be highlighted within your document should be thoroughly researched, as details are vital. Confirm you have enough facts to cover when it comes time to generate your crypto white paper.
2. Identify Target Audience
Part of your research will include identifying your target audience. Who are you writing for? What type of audience is going to benefit most from this white paper? Identifying with the readers not only allows more personalization in your approach but also lets you know which keywords to implement in the body of the document. The style and language of your document should be formal—almost academic. It should reflect the goals of your business so your readers know exactly what they are dealing with.
3. Organize
When you’re working with a plethora of facts and charts, organization is key.
- Start with an outline: Each section of your white paper should highlight an important aspect of your tokenization plan, including where the investor’s funds will be allocated.
- Decide on the design: After organizing all your data, charts, graphs, and sections, decide on a crypto white paper design that suits your brand or project.
- Estimate the length of your final draft: Although Bitcoin’s white paper was a mere nine pages, nowadays, you will find crypto token white papers ranging between 20 and 100 pages.
- Ensure that it’s skimmer-friendly: Not everyone reads every word, so provide plenty of headings, subheadings, graphs, and relevant images.
- Determine where you will post it: Most projects post their white paper directly on their token’s webpage. Other outlets include crypto forums and social channels such as Twitter, Linkedin, and Reddit. Software communities like GitHub are also good options.
- Promote your project: Share your idea with others in your networking circle to collect feedback and insights.
How to Write a Crypto White Paper
Learning how to write a crypto white paper requires a keen sense of thorough content. This content should comprise all the written data to introduce your project. While there are crypto white paper generators and ICO whitepaper generators available online, it is not recommended to use one of these services. Having a professional crypto writer will ensure your content is optimized, error-free, and resonates with your target audience. A typical crypto white paper template consists of the following sections:
Headline & Abstract
Your headline is the first thing your readers will see, so make it stand out. It needs to be catchy but not sensational. Remember to still keep it professional. Consider Bitcoin’s headline: A peer-to-peer electronic cash system. Since this type of cash system was completely foreign at the time, that headline was able to attract immense curiosity. The abstract provides a brief peek of the document’s main points and a solution to the reader’s problem. Readers will often look at this first to get a sense of what’s ahead, so word it wisely.
Cover Page
Besides the title of your white paper, the cover page is the first thing your readers will notice. Aim for a sleek and professional finish. This is where you place your coin’s logo and tagline.
Introduction
Introduce your project and briefly sum up the intention and goal of your coin launch. Utilize keywords and phrases that portray a sense of innovation to the crypto ecosystem. Use this section to justify your reasons for releasing this project or ICO. Why is your venture important at this moment in time, and how will it renovate or build upon the current system?
Problem Identification
This section is key. It sums up the “why” in your proposal. Identify the problem in cryptocurrency that your project is going to solve. Make liberal use of various diagrams, images, or graphs to showcase the issue that you are confident your product is going to amend. In this section, you can discuss tokenomics. Briefly and clearly define the role that your token is going to play in the world of crypto-economics. This piece of your crypto white paper is invaluable, as it will affect the speculative value of your token in the future.
Road Map
The road map is a chronological diagram that records the key events and deadlines of your business plan. This section of your white paper features the layout of the procedures that will take place to ensure the resolution of the problem you previously presented. This also allows investors to monitor the process, giving them a sense of control and ease of mind. The detailed plan in the road map can include your beta-launch, as well as the steps planned for the next 12 months or more.
Project Team
Another important detail of a cryptocurrency white paper is the team involved in the project. Disclosing the names of the people who helped in creating and launching the project helps build a bridge of trust with your readers. Moreover, having well-known, trusted people in the crypto sphere on your team enhances credibility for securing investment leads. Showcase their success and credentials to further reinforce the integrity of your business proposal.
Final Thoughts
Having a crypto white paper guarantees a clear delivery of facts with your prospective investors and other parties interested in your asset. Whether or not your white paper clearly conveys the message you are communicating ultimately comes down to the writing. Therefore, the ability to write concisely is crucial. The decision to hire a professional crypto content writer can save you a considerable amount of time and resources. In addition, you may want to offer your white paper in several languages, so opting for a translator should also be a consideration.
