An initial coin offering, commonly referred to as an ICO, is the fundraising method used to finance new cryptocurrency projects. In an ICO, a company or an individual offers investors several units of their cryptocurrency in exchange for other altcoins or tokens. The ICO is a process that involves the issuance of a white paper and a smart contract to support the project. However, the process does not end there; the selling of the new cryptocurrency is a process in itself, a smaller process within the grander scheme of the ICO.