Ok, so lets use SunContract for example. They are about to go live. So lets so I send bitcoin to that address. I get the tokens. Now where are the tokens held? If I wanted to sell them, where could I sell them?
In this case you will have to send the amount of ETH you want to invest to a specific address and the address you used to send the Ethereum will receive SNC tokens. Then, after the ICO finishes, you will probably be able to sell those tokens or use them for what SunContract is promising to do. Their rate is 10.000 SNCs per 1 ETH.
That's why I told you that you need to read all the information available on those ICOs website. Some of them work like SunContract (Ethereum smart contract) and others are build with XCP (counterparty tokens).
e.g: Look at everything you can get from
InsureX Presale page:
- Funds are managed by the presale smart contracts.
- Minimum buy in is 15 ETH.
- Contribution address is 0x594f1b4fa77be53c36001b2a207e58d8bcbf3d4f
- Price during pre-sale is 1 ETH = 1758 IXT at 56%.
If you read everything available on this page, there is no chance to do any mistake. They even teach you how to send the ETH to the address during the ICO period.