If you’re a beginner to the ICO market and also intend to begin spending today, right here’s a detailed procedure to assist you in your acquisition.
Little bit of a please note initially; there’s no conventional or official framework for exactly how an ICO is executed. The main point, nonetheless, is to have capitalists send their loan to the firm’s pocketbook or clever agreement for their symbols. Each ICO does this in a different way and also no 2 ICOs will certainly coincide.
I motivate you to inspect various ICOs right here on our internet site. We have a detailed listing of upcoming and also continuous ICOs with required details.
Note: Prior to every little thing else, make certain to do due persistance on the ICO that you’re intending to acquire symbols from. You might be bewildered by technological details offered on their sites. Don’t be brought away by this. There have actually been a lot of ICOs that have actually scammed capitalists for countless bucks.
Right Here’s the 6-Step ICO Engagement Refine:
Action 1: Make a cryptocurrency pocketbook.
A purse enables you to keep cryptocurrency that will certainly be utilized in your payment to an ICO. On top of that, your public pocketbook address will typically be required by the ICO itself for whitelisting to make sure that they recognize where to send out symbols to when you have actually added.
ICOs commonly don’t accept USD or other traditional currencies during the ICO process. You need to use cryptocurrencies such as Bitcoin or ETH to participate in the ICO which brings us to step 2.
Step 2: Obtain Bitcoin, ETH or other cryptocurrency.
With your USD or other fiat currency, you can purchase cryptocurrency from exchanges or from services like Changelly which offer credit card to crypto purchases. Other options are buying cryptocurrency in person thru Localbitcoins for Bitcoin or LocalEtherium for ETH.
Once you have acquired your cryptocurrency, send it to the wallet you will use to participate in the ICO.
Step 3: Transfer the coins to your own online wallet where you control the private keys.
In order for the ICO to receive cryptocurrency, send tokens back and for you to access and manipulate tokens, you must participate using a wallet where you control the private keys.
Note: Do not send coins from an exchange wallet directly to an ICO smart contract address or you won’t receive your tokens. Exchange addresses do not support the ICO tokens and you will lose them.
Step 4: Get whitelisted!
Most ICOs nowadays require some form of whitelisting and submission of KYC before you can participate. Whitelisting ensures a more orderly ICO process and promotes more even distribution of tokens amongst all interested contributors and KYC ensures that no unsavory or criminal contributors get to participate in the ICO.
KYC usually requires ICO contributor to submit information that helps verify their identity, some of the information that may be asked from you are ID, address, telephone number etc.
Step 5: Contribute to the ICO
Read the guidelines on how to purchase or contribute to get tokens in the ICO. As stated, there are no standard rules for ICOs and everything can change in the blink of an eye. So make the most out of the information available not just from the official website and whitepaper but from social media channels as well.
Most ICOs finalize details of the tokensale on their blog, medium or telegram, so stay tuned to those social media channels to ensure that you do not miss the tokensale or fall victim to scammers.
Note: Beware of scam artists, there are lots of people posing as admins on social media or telegram telling you to send tokens to a specific address. Always double check to ensure that the address you are contributing to is the official smart contract address and be wary of any contract addresses posted on social media or directly messaged to you.
Action 6: Receive the ICO tokens.
Depending on the arrangement set by the ICO, your tokens may be received right after you contribute, sometime after the ICO or at a later date after some auditing is done.
The ico-check team hopes this ICO contribution guide has been helpful and also can serve as a overview in your ICO engagement.
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