Bitcoin Forum

I am wondering some ICO's accept only ETH. Some accepts BTC, ETH, LTC and other cryptocurrencies as well. Does accepting more currencies in ICO plays a roles in its success.

Also Ethereum's smart contract are built for accepting only ETH. How other ICO's are accepting multiple cryptocurrencies and pays tokens accordingly? Do they have to maintain a sheet of who pays in what currencies in a sheet and allocate tokens accordingly. It seems to be a hard manual process.

Actually it can, since some investors does hold only numbers of currency. So, having multiple currencies in an ICO would make it easier for investors to choose a currency they have or would like to use.

DEVs are only responsible people who can say the exact amount of bought tokens and token count usually depends on contract lines. They  will provide different or unique address for receiving coins but the final decision is made by devs.

For sure it will increase the ICO sale when compared to only ETH accepted ICO's.Yes it is going to make some job for the team but any cryptos worth money so they have to do some job if they want to raise more money.Not sure how they are going to track the investors but they might maintain their private sheet with address to pay the tokens if they are accepting more currencies.

Last I've remembered is GT tokens on Gateio exchange, which collect IEO in ETH, BTC, EOS, USDT, and even BNB and HT. They use Fusion-model, distributing according to the investment value.

Uh, i'm not sure about that. Investors usually don't really card about accepting more currencies or not, they usually use ETH and BTC to invest. So i think it's not affect the success of the ICO. For big investor no, but for small investors, i think it give a small effect to the ICO.

In my opinion besides the manual there are also those who use the help of p2p exchange / some kind of contract to make automatic swaps of the ico tokens or coins purchased, because if manually for example their project gets hardcap it will definitely bother them

The icos that accept multiple coins have ususally linked their respective wallets to receive deposits while the token distribution is usually managed through script which is visible in the shape of dashboard and investor's account or backoffice. I think of eth need to broaden their scope they should make codes to accept some of the other major coins to in eth based icos they just need to add relevant modules to the smart contract and i think it will help icos raise more money.

What is certain is the success of a project cannot be determined from the number of cryptocurrencies received. All that also depends on whether or not a project is good. Receiving with a particular currency is an alternative for people who want to invest. So it is impossible for a success project to only be seen from the currency received.

Not sure about that when they can convert all of those cryptos into the ethereum form. I guess it doesn't play a role in the success of ICO. the ico itself can decide whether they can get a lot of demand and funds from the investors or not.

No. It's just their choice of what crypto to accept. I also see ICOs before that prefer to accept BNB.
They give a certain address for each investor and those addresses for each coin they prefer to pay has unique address.

a project actually accept other crypto to make people comfortable to contribute on the tokensale with their most used coins. When the tokensale ends, the project team will convert their fund to Ethereum or Bitcoin or other stable coin to save their funds.

i can't understand why there are often only ETHs. at least the top crypto currencies should already be there.
and in my opinion even FIAT :)
this simplifies the investment for new users or people who don't want to change the existing portfolio.

Of course the ICO platform will be the one who will designed and deviced how their sales will work out. Some only chooses eth since their project is relies on the eth smart contract. This is also a good factor how projects can be examined. If an ICO accepts multiple currency meaning they are working beyond normal. Imagine not all people are fond of eth alone, some prefer btc and other coins. So better to pick all currencies to support running an ICO so youre chance to sell more with different investors.

investors usually hold only a few types of coins with large allocations, therefore accepting payments in several different types of tokens will make it easier for investors to directly buy tokens with the type of cryptocurrency they have. so the opportunity for investors to enter the project is huge.

I think that role is their strategy to facilitate investors and also in every crypto project that needs value. I think applying the payment option more than one cryptocurrency does not guarantee the success of their project, because the one that determines the success of the project is how they get the trust of each investor.

I think that some projects have offered multiple currencies like ethereum, bitcoin, ripple, litecoin to be accepted as payment and it is as a means to attract as many investors by offering them multiple choices. But I do not think offering multiple choices makes the way for a project to get a success. It may attract a bit more investors though. But there are available the facility to convert coins into ethereum and bitcoin. So it would not be that much difficult for investors to convert and pay in ethereum or bitcoin.

Ofcourse, multiple currencyes is better because we have a separate ways to invest and do not need to convert money for purchasing - this is also benefit. Purchasing only in Eth, maybe comfortable only for ICO project, but not for investors.

It doesn't pay any role, the success is bases on the idea, marketing and team reputation in the space.

ICO accepts a number of other altcoins just to make it easier in their payments but it is not from a success, if the team and developers are more serious then the project will run well.

ICO can usually receive several digital assets, such as Ethereum, Bitcoin, LTC and more. But what many people invest in is Ethereum. Ethereum is a smart contract and until now almost all ICOs use the Ethereum platform.

It is not a problem for most people to buy accepting coin/token to participate in an ICO. The problem can rise if it will crashes when you did not take part in an ICO.

Accepting of multiple crypto on the ICO is a good strategy for the company to pool the funds a little higher. Another merit is that some altcoins payments are also very less fees of the transactions. While you are paying with Dogecoin you must see how less fees you have paid, that is only 5 or 10 Dogecoin.

I think there is no point in offering the service of allowing traders to purchase tokens in multiple currencies like ethereum, bitcoin, litecoin, ripple. As any coins can easily be converted into ethereum and bitcoin, traders can do so without any hassle. But it is up to owners of a project to make their own rule. Most of the projects accept either ethereum or bitcoin in payment so far. I think good project will grow over time. There is no need to put extra makeup.

I don't think accept multiple currency keep any role regarding success of ICO's. ICO success depend on team and concepts.  Whoever accepting only ETH they are distributing token by directly from smart contract. They wrote smart contract accordingly. Whoever accepting multiple currency they are using third party API or their own wallet. This is not big deal and there is no need much extra work. They just made a script for that. Script will do everything automatically.

I know a lot of ICOs based on the ETH blockchain platform, but they still accept other types of coins like BTC and EOS. For ICO, I think the project team only wants to receive large popular coins, it can help them avoid unnecessary mistakes.

All returned to the project developer. They can only accept one or more crypto currency, depending on the circumstances. And I'm sure crypto developers will not choose the safest route with smart contract.

Accepting multiple cryptocurrencies in the ICO is such an efficient way for ICO to make an easier progress of the ICO for the users. But, most of the ICOs were not very popular these days.

I does not mean anything which type of crypto currencies is accepted by a token sale. Maybe it will help to collect more funds, because BTC investors would not need to swap their BTC into ETH to take part in the token sale, but in my opinion it does not matter.

I like the concept of several cryptocurrencies for accepting investments - so you are not limited to one\two coin, for example ETH or BTC, but if for example you are a supporter of monero - why not use them if you can?)

Ethereum is always used by ICO projects because most of the coins use ETH's smart contract to develop. I think because of this, many scam projects have made a lot of money from investors because creating a contract is really easy and you can easily deceive others if you have knowledge but time Recently, this is almost over because the trend of investing in IEO is increasing, making these scammers unable to make money anymore.

In order to make their platform diversified, they will also need to make their investment tool diverse in such a way that, different investors that prefer different cryptocurrency can have much flexibility to invest on their platform. In that case, reaching their softcap and even hardcap would be even more possible. Still, I guess in the end they will convert it in a single currency.

Would the acceptance of multiple crypto in ICO be good? Because what I can see, price might be different of these each crypto. Their ratios might not be a hundred percent accurate. In that case, there should be a single cryptocurrency that is universally used in order to make the investments stable and to avoid discrepancies.

...and in most cases it is a dollar. Then, these funds are used to buy lambo, yachts, crypto hot stuff and other necessary arsenals for developing their project like “property on the blockchain” or “diamond mining and distribution using the blockchain”.

Accepting multiple currencies in ICO won't guarantee success in raising funds.
Even if a really good ICO only accepting single cryptocurrency like ETH, it will sold out in short time during main sale.

Indeed accepting more crypto on ICO can be a good solution and more people maybe will join ICO, but now is not like on past when a lot of people join ICOs.

I think number of cryptocurrencies accepted doesn't affect to quality of ICO project. There are so many ICO projects which only accepted BTC or ETH only but they were very successful and tons of ICO projects which accepted multi cryptocurrencies but still failed. For now, no matter how many cryptocurrencies accepted but ICO is not a good investment anymore cause all investors are paying attention to IEO.

It can help the ICO to reach the soft cap at least and it's a good idea actually but only a few like to implement this idea maybe because they want to simplify things they can easily calculate the crowdfunding if they accept the top two coins in the market only and they knew that majority of investors and traders had the top two coins in the market.

I think this is more an issue of ease of investment. Some people may be holding ERC20 token they're ready to let go of. In that case it would be more convenient for these potential investors to simply send those tokens to purchase from the ICO as opposed to having to convert them to ETH first. Accepting multiple currencies for funding just broadens the funding base.

Future success is dictated by results.

What is the need of accepting more cryptocurrency when the ones that are more reliable will do the job? These 3 coins you mentioned are still the only most reliable coin in the market for now that any project developer or merchant will focus more on.

Some projects don’t even trust their fellow developers as regard their coin, because if they do like they trust these 3 coins, there is nothing really stopping them from accepting multiple crypto currencies, my own is for them to just make decisions that will simplify the process for end users of investors, whatever will make investors comfortable and safe is what they should be after.

Accept 1 or more than 1 cryptocurrency as payment in ICO do not help an ICO project succeed. It's just a kind of attract cause there are so many guys are not holding BTC so it's a little bit complicated for them to invest in ICO project which only accept BTC as payment, it'll be much better if these ICO projects accept multi cryptocurrencies but you should know that if it's a good ICO project no matter if it only accept BTC or multi cryptocurrencies, investors will try their best to invest in these ICO projects asap.

Multiple cryptos on ICO sale might slightly increase the chances of getting more funds but most projects only accepts the best cryptos because they will find difficulties if they accept shot coins while cashing out.

in my opinion it will not affect the success of ico, proof is that there are many ico that only use ETH and bitcoin as payments can be a big success, ico investment doesn't see a lot of currencies but sees product

Accepted payments for token sale should be limited, all coins are competitive so they just need to use which is the top Currency such as eth and btc how they accept others. They have own coin to promote. And how could they accept multiple coin if it just a problem to use in transaction. They just need few but large in quantity

Of course. There should be a programming to place who pays with whichever currency accordingly. It's much better to state payment in different currencies and not just Eth.


How do you mean they need few but large in quantity? That's kinda confusing.

This kind of ICO that accepts multiple currency targets all audiences.  It gives a better impact than just accepting one currency since investors have different coins or tokens in their hands.  The transaction is done automatically, I sure they program a script to records  all transactions and calculate them.  Within the platform where people paid, they have a built in wallet and investors need to setup an account.  In that platform the token is distributed depending on how much they bought.

The project simply chooses the most stable coin, in their opinion, which will not be very volatile and they can safely use this money for development.

because there is a form for the investor to fill like how many coins they want to invest
and after the ICO ended the dev will create a transaction to send the tokens for everyone investor that invest using another cryptocurrency

ICOs are collecting funds in multiple currencies and on that way they can get more funds. It is a good thing as investors are holders of different currencies. It is only and administrative thing and has not much with the success of the project.

Accepting multiple currencies in ICO/STO projects are a very good method to catch more investors. Once I have seen many ICO did not has a fiat investment system, but some investors like to invest through Fiat! So, by implementing major currencies with fiat money, ICO projects can acquire more money in a short time. And, maybe the dev sends manually the ICO token to the other currency or fiat investors!

I don't see any correlation of accepting multiple crypto with the success of any project and what I can only see is of course it may give them a lot of work with calculations and other stuffs but of course all of these are automated. Op, I really dont see your point here because the success depends on the support of its community and also with the devs thats it.

Actually even if they accept only one currency as long as they are legit and good project, they will still raise a good amount of money.
I've seen in the past that only accept ETH as an investment but project was sold out.
Maybe this time they are desperate to raise that's why they give more options, the market has no fully change and IEO is the new trend now.

Some ICO accepting other cryptocurrency than ETH, such Bitcoin, even fiat currency.
Usually they will using dashboard in their platform, so you must register first before contributing.
And they will create some cryptocurrency wallet in your dashboard account to receive other currency like btc, ltc, trx, etc.

Yes, it is depends on the ICOs you are working with, like many ICOs today are using ERC20 of ETH platform, and because ETH is most popular and most useful for ICOs project, so we easily see it is used to buy ICOs token more than normal, and more cases shown that, a big ICO will also use not just ETH but also many cryptos like BTC and Fiat to buy sell tokens, by this way, we can easily use our money quickly than just trasfer to BTC or ETH or some other altcoins, after all ,ETH and BTC is still the most famous cryptos in the world.

I really want to accept that it is desperation that is just making them push for more currencies which does not make sense because they are indirectly encouraging the investors to dump other cryptos for them.

It is not all currency that one can get directly through fiat, most of them are still through ethereum or BTC, so why demand for other currency when they can simply work with juts BTC and Ether, if not them using tactic to encourage them to transfer other coins holding to them and them dumping it to change to fiat since they have no use for them, so I don’t see how this can benefit investors at all.

What's the problem? ICO accept various cryptocurrencies to make it easier for investors to invest in this project.

The success of any ICO is on the team behind it and also how easy investors are able to access payment methods, accepting multiple currencies not just cryptocurrency but also other forms of payment such as cash deposits give more room to potential investors to access the ICO easily and fast. This also increase the crowd founding which allow for large sale and team being able to achieve hard cap at the end of ICO.

An ICO that accepts multiple cryptocurrencies as a payment method to buy their tokens will surely get more attention from people because everyone has different currencies available in their wallets. I have also noticed that some ICOs started accepting fiat payments, using a debit card. Still, this doesn't mean the project will be successful only because they have more attention from people and more sales because that's not what determines their rate of success.

Accepting more number of currencies do support in getting larger number and amount of investment rather than supporting few as investors are reluctant to exchange the coins they hold everytime they invest in an ICO.
As for why some ICOs use only ETH is mostly due to the smart contract they work on. Ethereum is integrated tool of smart contract.

Credit cards, Visa, Paypal accepting ICO also do not need ETH but most of them are ETH and Bitcoin that are often used.

yes, that Bitcoin and ETH are very good coins so that people will more easily accept them because storing ETH or Bitcoin is safer than losses and can even be profitable.

so most projects or new ICOs only accept coins that they think are worth saving, for example Bitcoin and ETH.

In my opinion, accepting some crypto currencies in ICO is a good thing. If we can receive multiple crypto currencies then it is possible to get more investors. As an ICO development team, we must be open to all potential coins that will be invested in ICO in order to get investors and be able to reach the softcap and even reach the hardcap. If the ICO only receives one type of coin, it takes longer to get investors. Accepting multiple crypto currencies to be invested is one of good strategy.

Yes of course, a lot of persons don't like making use of ethereum and might not want to use it in making any purchase, I am talking out of experience because I am one of those persons.

I like to make use of bitcoin than ethereum for purchases via crypto, though some ICO companies write the token sale code in the smart contract which unfortunately accept only ethereum as the mode of payment for making purchase of instant token being sent to the wallet of the investor.

there are ICO's accepting multiple crypto-currencies because its also convenient to investors, they can select which currency they can pay.. and also ico's that under ethereum block-chain which accept multiple currencies probably they have wallets connected to exchange

Yes accepting more currencies on an ICO helps a project but not a lot. People will invest in the project if they see potential on it. However if they see that an ICO is accepting more than 100 currencies and it looks like shady and scammy then its useless. Investors will pick the ICO with a brighter future regardless of the currencies they are accepting in ICO.

By allowing or accepting different cryptocurrencies during ICO, the team will offer investors the convinence of investing with the available coin. Also, about ETH wallet , it is not an issue as the team will also offer adequate wallets for other cryptocurrencies.

Before settiing out to accept multiple cryptocurrencies in ICO, the team must have done and keep all arrangements in place, so how the fund will be collected is not an issue.
Furthermore, accepting multiple cryptocurrencies during ICO will make it easy for investors to invest, as most are holders of BTC, ETH and so forth.