Bitcoin Forum

I'm sort of a newbie, but I'm looking into a few ICO, and I'm wondering how someone receives their tokens? Where do the tokens show up? There's obviously no wallet for such a new coin (unless I'm missing something on their website), so if I give them some of my ETH, how do the tokens get assigned to me personally? By the way im using adroid phone. Any android app supports ICO tokens?

This might be a dumb question but I have a very elementary grasp on blockchain tech. Thanks in advance.

Some I have seen so far are just an ethereum token, built on top of the ethereum blockchain using their fancy code.

The ICO you joined is using a smart contract within ethereum blockchain. It knows that your wallet address sent ethereum to the ICO and it knows the exact amount. Then it execute itself to pay your tokens to your own ethereum wallet. This is how it works.

If their token is ERC-20 token (built on Ethereum platform, which most are), you send ETH to a smart contract address they provide (from a wallet like MEW, Parity, MetaMask ... and NOT from an exchange) and the smart contract will automatically give you back their tokens. So, in this case, any ETH capable wallet where you control the private keys can also hold ICO tokens. In some wallets, you need to manually set that you have new tokens (like in MetaMask: you click TOKENS, Add token, then add the token address, decimal places (usually 18) and token symbol ... ICO project will give you this information) and once you do that they will immediately show. In some other wallets (MEW), tokens will be shown automatically. You can then transfer this tokens to exchanges or other ETH wallets like you do with the ETH.

Joining the campaign, follow the rules. At the end of ico, they will know that your wallet address sent ethereum to the ICO and it knows the particular amount, then it execute itself to pay your tokens to your own Ethereum wallet.

I have several times followed altcoin project campaigns that use etherium platform and waves. The token will automatically log in according to the distribution plan of the developer team. You can receive tokens from campaign results using android, I also use chrome browser.

note: if you use campaign, never use wallet exchanger.

I just got to know ICO after I read and understood, I know that ICO needs a wallet to collect a coin which will then be paid when the campaign ends. I recommend not to use wallet exchanger.

It depends on the ICOs you are investing in. If it is ETH tokens, you can receive it your ETH wallet which you control the secret key (One example is myetherwallet). There are other ICOs which issue tokens to counterparty, waves and etc. You have to read the ICOs’ websites to find out. 

LakeBanker's ICO is a spinoff from major crypto-exchange LakeBTC.com (http://LakeBTC.com). So if you participate (by contributing ETH, BTC or LTC) your BAC tokens can be held in a wallet on LakeBTC.com (with exceptional security), or you can withdraw them to your own wallet.

It's a useful choice as some people might want to invest in an ICO but are unsure about how to safeguard their own wallets.

Another advantage of our ICO being backed by a major exchange is that trading for BAC tokens will be enabled on LakeBTC within a few days of the close of our Token Sale. So we're offering customers near immediate liquidity.

Here's our ANN thread (https://bitcointalk.org/index.php?topic=2028648.0) and formal whitepaper (https://lakebanker.com/whitepaper.pdf)

I'm only know using ETH for payment.
you can too using it your ETH wallet which you control the secret key (One example is myetherwallet).

It is best to use MEW (myetherwallet) for ER20 tokens or those ICO issued on Ethereum platform. These tokens comes with a smart contract and those tokens gets sent to you automatically once the deal is completed. So you get the tokens into the same address you used to send the eth to the ico. Very easy and convenient. MEW is also accessible via your browser on your mobile so no issues there afterall.

You will received it after you invested to them. However, i think there's a step by step on how you can claim your tokens after you invested to them just do what the instructions they want to do hehehe or it's automatic that it would be send to you if your using ethereum to invest

The token will be sent to your ethereum's wallet from the developer team of ICOs projects, if you participate on their bounties program or maybe you make investing into the ICOs projects. Everything depend on the rules of developers team, when the ICOs token will be distributed. I suggest you use myetherwallet.com to participate on ICOs projects never use exchangers wallet, myetherwallet.com support for ICOs token and no need android application to receive the ICOs token.

some ico do have their own wallet and you needed to download and install that wallet inside your computer and some use eth and waves so you needed to have those online wallet like MEW and waves online to receive the tokens, just needed to read more information and you can also ask some question from the ann thread itself so the dev can assist and guide you.

You receive through Ether or Waves network, in general.

See the instructions in the ICO page or ANN thread.

use my ether wallet then add their custom token. You will see your token in your wallet

There will be a registration form from that project to fill in your information when investing (they will contact you by email, or pay directly on the wallet ETH or Waves you provide them, etc ...). Follow exactly what they require and before investing should study that project thoroughly

It could be if for example make myether automatic wallet already have a place to receive tokens so no longer need the help of others to be able to get it. the token you got is actually from the bounty you follow and run until the campaign ends.

You didn't get the OP's question.

Op you must need a wallet to receive your token, such as the wallet that already synced with ethereum node such as myetherwallet and mist as the official one to run the node in the ethereum network.

you need to have a wallet which you can control the private key. I think that you should buy a computer for your own because it will be easier for you to work. I have not heard about any android wallet which can contain token before. For pc, use the myetherwallet.com. They are the best. Do not use other wallet such as coinbase or jaxx because you are not able to control your private key

Hey buddys,

I wondering too how that ICO get started/get foundation on example my mining project (large scale/small scale)
Then i have two jobs what i always lookin for.  8)

If you want to participate in the signature campaign of any ICO project, the company provides a form for filling in to all participants and there is indicated the address of the purse to which the generated token will be listed after the end of the ICO. Typically, this is a purse, which you can create by visiting the site MyEtherWallet. com. This is a purse on the ethereum platform and therefore ethereum is used to further move the token as transactional fees.

if it's an ERC-20 token, you have simply to send your ETH into the slmart contract and you will receive automatically your tokens.

if it's another blockchain you need to install their wallet to receive your tokens at the end of ICO.

upon joining campaigns, it will usually ask you of your wallet address. Usually its an erc20 compliant wallet. So you just got to create a wallet (in my case My Ethereum Wallet) and provide my address for any campaign I join that would ask of it. And from it, i track coins getting into my wallet through etherscan.io. Its how i track how I get paid.

Yeah there is an android App called IMtoken you can try out the App its simply the best for participation in an ICO. You can get the app on google play store.

Most of the ICOs ask for your eth wallet or if you invest on them by sending eth amount to their smart contract wallet address they will send back their token to your wallet! but if does not then you should contact the dev.

Mostly use myetherwallet

Token from ICO campaigns are receive and sent through your ethereum wallet public address. If the tokens are ERC-20 compliant, which most of the tokens are, they can send it directly to your ethereum wallet address. ERC-20 tokens are based on ethereum blockchain platform. In my case, I used myetherwallet. You can search for other ethereum wallet out there but for me myetherwallet is the easiest to use. After you receive the token, you can send it to exchanger websites for its eth value.