Very new to ICO - basic question

[Pashtet13]

I've been holding to eth for some time now and finally ready to try ICOs. Few interesting ICOs are offering their coins in exchange for eth. How does this work? I make eth transaction and they claim to immediately transfer me their coins. Are they using my eth address? Also, when their coins become public, how can I sell them?
I know these are probably very silly question and appreciate your answers

[Dropcarve]

ofc u can sell them

[Crytptohack]

I'm not an expert with ICO's, but after your purchase with ETH, they will hold onto your tokens until a release date. Then you can transfer them into your wallet, either MEW or their own wallet that you can download from their site.

Be very careful if you submit ETH as there have been a lot of website hacks that lists the wrong ETH address.

Because ICO's are new tokens, they are often not tradeable on the mainstream exchanges yet. (Like Bittrex, Bitfinex, Binance, Poloniex, etc...)  You may need to make an account on the exchange that they have been initially listed on.

[pmtxcrypto]

Make sure you research a bunch if you are getting into an ICO if it smells fishy it probably is.  Some of the ICOs are looking into changing the hold times to prevent dump right after the ICO has finished.

As was mentioned be careful with sending ETH due to hacks and just spam in general.   For every good legit idea / project coin there are probably 100 that will never do anything.

[Yudha2015]

Just advice... Im newbie too in ICO but make sure before you buy some ico's, yo have to check the whitepapper. Where is the ico listing? Try to search more information about.

[HabBear]

How does this work? I make eth transaction and they claim to immediately transfer me their coins. Are they using my eth address?

You're buying their tokens for your Ether. It's a purchase.

Also, when their coins become public, how can I sell them?

You need to wait for an exchange to make a market in their coin so that you can trade their coin for any other crypto currency. An exchange may never support their coin OR many exchanges may support their coin. The future is always unclear and risky when it comes to ICOs.


What you need to do when you make a decision to get involved in an ICO is (1) consider the business model and utility the token plans to employe with the market of people that are not interested in crypto currency as an investment and, (2) be ready to hold the coin/token for a long time.

How does the ICO solve a real business or social problem? If it doesn't, run away from the token as fast as possible.

There are no silly questions, only silly answers!

[killcoin]

Am just brand new to altcoins

[ronpan]

How does this work? I make eth transaction and they claim to immediately transfer me their coins. Are they using my eth address?

You're buying their tokens for your Ether. It's a purchase.

Also, when their coins become public, how can I sell them?

You need to wait for an exchange to make a market in their coin so that you can trade their coin for any other crypto currency. An exchange may never support their coin OR many exchanges may support their coin. The future is always unclear and risky when it comes to ICOs.


What you need to do when you make a decision to get involved in an ICO is (1) consider the business model and utility the token plans to employe with the market of people that are not interested in crypto currency as an investment and, (2) be ready to hold the coin/token for a long time.

How does the ICO solve a real business or social problem? If it doesn't, run away from the token as fast as possible.

There are no silly questions, only silly answers!

When you saying hodl coin for a long time. How long is long for you? Trying to get as much knowledge on this ICO things.

[Pashtet13]

Thanks all for your awesome answers! I will probably take more time before getting into ICOs. Coins market has been so fun today

[Criptomirico]

Xoтeлocь бы пoyчacтвoвaть в кaкиx-нибyдь нaибoлee пpибыльныx бayнти, гдe мoжнo иcпoльзoвaть пoдпиcь для нoвичкoв. Ктo мoжeт пoдeлитьcя?