Hey Guys, I could really use some help here. I'd like to participate in an ICO but have never done it before. I've joined the whitelist, but what I really need to know is about supplying an etherium address. First, I keep all my coins on two exchanges, (both Australian ones) - when applying for an ICO should I give one of these etherium wallets? Or should I make some other online/offline wallet? Is it normal procedure to give a wallet address when applying for these? And finally, does anyone have a good recommendation about a secure wallet I could use to store eth specifically for this purpose?
Thanks a lot
If you send Ether from an exchange wallet, your investment is likely lost !
The smart contract of the ICO coin will send the equivalent amount of whatever coin you should get for the Ether you send to the address you sent it from.
If that is an exchange wallet, it will not know how to deal with those AltCoins or you are not able to add them to the wallet interface, so they are lost.
Always set up a personal wallet that you have full control over for participating in an ICO.
Professional ICOs will warn you about this and give you a step by step instruction when you sign up.
We are preparing an ICO ourselves (
www.c4f.io) and will provide a step by step instruction to people who sign up for being whitelisted for that very reason.
Good luck with your ICO adventures, wish you lot's of profits