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A whitepaper should and needs to be created. These documents should be formatted and designed professionally by someone who has experience with doing so. This person must be able to get to know all the inner workings of the wallet, the network and other parts of the network in whole.
Whitepapers will get the coin in the door with more exchanges and also brings in investors. This will also provide all the information to any interested parties with regards to Bitcorn. A whitepaper is preferred as it contains every detail that has to do with the coin. Without a whitepaper the research has to be done manually and it is unlikely they will do so and move on to other opportunities.
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