Exodia.World Official (OP)
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May 15, 2018, 06:51:04 AM Last edit: May 18, 2018, 02:23:15 AM by Exodia.World Official |
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Before you invest in any ICO, you should understand ERC20 Token first. Most ICOs are using ERC20 Token as a standard token used on Ethereum platform. You can invest in ICO by sending Ether (ETH) from your wallet to the ICO address. For new Blockchain projects, ERC20 Token is used to raise funding. Once the project’s main net is ready, we can swap the ERC20 Token that has been bought via ICO with the new coin issued for main net. As an example: EOS Token that has been sold during ICO can be swapped with its new coin when its main net launches. And for Decentralized Apps (Dapps) that are built on top of Ethereum platform, the token being sold can be used to pay for certain product/service of the Dapps. Using wallet to store ETH - MyEtherWallet or MetaMaskYou can follow the guideline of using the wallet; https://myetherwallet.github.io/knowledge-base/getting-started/getting-started-new.html. You basically have to purchase ETH from an exchange like Coinbase, and then send it to your wallet address. You can send a small amount first to make sure it is the right address, any mistake in the address will cause your Ether to be lost in the wrong address and you can’t get it back. Send your ETH to the right address for ICOYou must not send your ETH from exchange. If you send ETH from an exchange to any ICO, you will not receive your tokens. This is because when you send ETH from an exchange, the exchange sends the transaction from their pool of ETH, not an address specifically linked to you. When the ICO smart contract sends the tokens back to the address you paid with, it sends it back to the exchange’s pooled address so you don’t receive your tokens. That’s why you must always send from an address you control, not an exchange address. ( https://medium.com/@icoalert/if-you-send-eth-from-an-exchange-to-any-ico-you-will-not-receive-your-tokens-134a01668806) Also, make sure you have enough Ether for Gas, you will be charged a certain amount of Gas every time you transfer Ether (ETH) or any ERC20 Token. Please remember to follow all the rules for participate in in the ICO you want to, rules may be different in different projects. (Edit) Secure Wallet Management: As suggested by digroske, secure wallet management is very important. However, it may be a bit too involved, so detailed discussion should be placed in another thread. Below is a security checklist to be explored further: - Choose desktop/smart phone wallets over web wallets if you are NOT sure how they work. This is because non-web wallets don't require you to manage your own private keys (while still storing them in your computer).
- Encrypt your private keys. Most wallets will ask for a password to encrypt them.
- Protect your private keys from hackers by securing their storage. For hot wallets (those connected to the Internet), the storage is your hard disk. For cold wallets e.g., hardware wallets, paper wallets, etc., the storage is the medium you use.
- Keep your computer malware-free. Use strong passwords on anything remotely connected to your wallet storage. Beware of phishing sites. Because security is a chain. One weak link and it is broken.
- Backup your private keys, seed phrases, and even passwords to a safe place. Loss of such items is common.
- Don't easily trust anyone. Scams are everywhere.
- Don't put too many coins in one wallet.
- Only store coins that you are going to use often in hot wallets. Store the rest in cold wallets.
The list above is by no means comprehensive. But you can understand more by Google searching for the mentioned keywords.
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Cashi
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May 15, 2018, 03:50:17 PM Last edit: September 25, 2018, 06:07:45 PM by Cashi |
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Helpful article! It cannot be repeated often enough that sending the funds from an exchange will result in losing your money. By avoiding this mistake everyone can save a lot of trouble.
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Fenya96
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May 17, 2018, 09:40:30 AM |
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At a first this seems to me kinda like the Kinguin ICO. Is it different from it?
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digroske
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May 17, 2018, 10:17:39 AM |
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Before you invest in any ICO, you should understand ERC20 Token first. Most ICOs are using ERC20 Token as a standard token used on Ethereum platform. You can invest in ICO by sending Ether (ETH) from your wallet to the ICO address. For new Blockchain projects, ERC20 Token is used to raise funding. Once the project’s main net is ready, we can swap the ERC20 Token that has been bought via ICO with the new coin issued for main net. As an example: EOS Token that has been sold during ICO can be swapped with its new coin when its main net launches. And for Decentralized Apps (Dapps) that are built on top of Ethereum platform, the token being sold can be used to pay for certain product/service of the Dapps. Using wallet to store ETH - MyEtherWallet or MetaMaskYou can follow the guideline of using the wallet; https://myetherwallet.github.io/knowledge-base/getting-started/getting-started-new.html. You basically have to purchase ETH from an exchange like Coinbase, and then send it to your wallet address. You can send a small amount first to make sure it is the right address, any mistake in the address will cause your Ether to be lost in the wrong address and you can’t get it back. Send your ETH to the right address for ICOYou must not send your ETH from exchange. If you send ETH from an exchange to any ICO, you will not receive your tokens. This is because when you send ETH from an exchange, the exchange sends the transaction from their pool of ETH, not an address specifically linked to you. When the ICO smart contract sends the tokens back to the address you paid with, it sends it back to the exchange’s pooled address so you don’t receive your tokens. That’s why you must always send from an address you control, not an exchange address. ( https://medium.com/@icoalert/if-you-send-eth-from-an-exchange-to-any-ico-you-will-not-receive-your-tokens-134a01668806) Also, make sure you have enough Ether for Gas, you will be charged a certain amount of Gas every time you transfer Ether (ETH) or any ERC20 Token. Please remember to follow all the rules for participate in in the ICO you want to, rules may be different in different projects. It would be useful to tell beginners about the rules of security of electronic wallet management. Add information please.
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Exodia.World Official (OP)
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May 17, 2018, 01:25:12 PM |
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At a first this seems to me kinda like the Kinguin ICO. Is it different from it? While it looks similar at first, we are fundamentally different. Other than a game marketplace, Exodia.World will have a Pay-as-you-play feature where gamers will pay for the games based on their play times. It saves gamers' budget and game developers can directly receive feedback from players' engagement as well. Developers can launch crowdfunding campaigns to promote their soon-to-be-created games too. These campaigns help game developers gain more funds for their developments and gamers who participate in them either get discounted price when the games are done or rare items, it depends on the developers. Furthermore, we have a referral system to help game developers market their game. In conclusion, Exodia.World emphasizes two goals. To make modern digital games affordable by everyone and to give the power back to small-to-medium game studios.
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Exodia.World Official (OP)
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May 17, 2018, 01:33:14 PM |
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Before you invest in any ICO, you should understand ERC20 Token first. Most ICOs are using ERC20 Token as a standard token used on Ethereum platform. You can invest in ICO by sending Ether (ETH) from your wallet to the ICO address. For new Blockchain projects, ERC20 Token is used to raise funding. Once the project’s main net is ready, we can swap the ERC20 Token that has been bought via ICO with the new coin issued for main net. As an example: EOS Token that has been sold during ICO can be swapped with its new coin when its main net launches. And for Decentralized Apps (Dapps) that are built on top of Ethereum platform, the token being sold can be used to pay for certain product/service of the Dapps. Using wallet to store ETH - MyEtherWallet or MetaMaskYou can follow the guideline of using the wallet; https://myetherwallet.github.io/knowledge-base/getting-started/getting-started-new.html. You basically have to purchase ETH from an exchange like Coinbase, and then send it to your wallet address. You can send a small amount first to make sure it is the right address, any mistake in the address will cause your Ether to be lost in the wrong address and you can’t get it back. Send your ETH to the right address for ICOYou must not send your ETH from exchange. If you send ETH from an exchange to any ICO, you will not receive your tokens. This is because when you send ETH from an exchange, the exchange sends the transaction from their pool of ETH, not an address specifically linked to you. When the ICO smart contract sends the tokens back to the address you paid with, it sends it back to the exchange’s pooled address so you don’t receive your tokens. That’s why you must always send from an address you control, not an exchange address. ( https://medium.com/@icoalert/if-you-send-eth-from-an-exchange-to-any-ico-you-will-not-receive-your-tokens-134a01668806) Also, make sure you have enough Ether for Gas, you will be charged a certain amount of Gas every time you transfer Ether (ETH) or any ERC20 Token. Please remember to follow all the rules for participate in in the ICO you want to, rules may be different in different projects. It would be useful to tell beginners about the rules of security of electronic wallet management. Add information please. Noted, will add them soon
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pbitmallx
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May 17, 2018, 02:19:32 PM |
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The article tells us that a beginner should pay attention to a problem.
That is, investment ICO cannot transfer ETH from the exchange directly to the contract address. This is a problem that beginners easily overlook.
There is also a problem, it is recommended that beginners use Metamask wallet, Myetherwallet is a web wallet, not safe for beginners.
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Exodia.World Official (OP)
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May 17, 2018, 02:50:32 PM |
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Which wallet do you think is much more versatile MetaMask or MyEther Wallet?
MyEtherWallet is being rebuilt as MyCrypto, which will potentially scale much better. For daily transactions, MEW/MyCrypto is a good choice. You can send and receive ETH, generate transaction offline, and interact with Ethereum smart contracts. However, if you want to use Decentralized Applications (DApps) e.g. CryptoKitties in your web browsers, you should use MetaMask or similar browser-extension-based wallets to approve your transactions. Both can be used to invest in ICO. Another note is that using Metamask is safer for most beginners because it manages your keys for you.
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Fenya96
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May 18, 2018, 06:29:40 PM |
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At a first this seems to me kinda like the Kinguin ICO. Is it different from it? While it looks similar at first, we are fundamentally different. Other than a game marketplace, Exodia.World will have a Pay-as-you-play feature where gamers will pay for the games based on their play times. It saves gamers' budget and game developers can directly receive feedback from players' engagement as well. Developers can launch crowdfunding campaigns to promote their soon-to-be-created games too. These campaigns help game developers gain more funds for their developments and gamers who participate in them either get discounted price when the games are done or rare items, it depends on the developers. Furthermore, we have a referral system to help game developers market their game. In conclusion, Exodia.World emphasizes two goals. To make modern digital games affordable by everyone and to give the power back to small-to-medium game studios. Thank you for the detailed clarification! The idea is unique and great, I like it and will be looking for updates on development. Do you have by any chance some kind of a bounty program planned or running?
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Avalonist
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May 19, 2018, 08:51:26 PM |
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You should call it "how to prepare to invest in ICO" Cause theres no information about investing actually
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Exodia.World Official (OP)
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May 22, 2018, 01:49:52 PM |
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At a first this seems to me kinda like the Kinguin ICO. Is it different from it? While it looks similar at first, we are fundamentally different. Other than a game marketplace, Exodia.World will have a Pay-as-you-play feature where gamers will pay for the games based on their play times. It saves gamers' budget and game developers can directly receive feedback from players' engagement as well. Developers can launch crowdfunding campaigns to promote their soon-to-be-created games too. These campaigns help game developers gain more funds for their developments and gamers who participate in them either get discounted price when the games are done or rare items, it depends on the developers. Furthermore, we have a referral system to help game developers market their game. In conclusion, Exodia.World emphasizes two goals. To make modern digital games affordable by everyone and to give the power back to small-to-medium game studios. Thank you for the detailed clarification! The idea is unique and great, I like it and will be looking for updates on development. Do you have by any chance some kind of a bounty program planned or running? Hi Fenya :) Thanks, glad that you like it! We don't have any bounty program yet, but we are currently looking for contributors. It is pretty similar to a bounty program in a sense that you will be rewarded for each individual task completed (for community managers). Are you interested? You can find the kind of help we need here; https://bitcointalk.org/index.php?topic=3820218. Cheers ~
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Daseento
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May 22, 2018, 03:46:09 PM |
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Please the point I'll love to emphasize is this, ERC-20 wallet address is different from normal etherum wallet. Because I didn't know this in my early days and I submitted my Eth address, I lost so many tokens. Example of ERC-20 wallet include metamask, imtoken and myetherwallet.
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CoinPoint
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September 10, 2018, 08:37:57 AM |
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Hey, I see that you are searching for a quality content that will encompass all the necessary steps required for launching an ICO in practice. Online articles and tutorials seem very inconsistent and impractical, however if you’d like to REALLY comprehend what ICO stands for, and how to get involved with it, please go to https://coinpoint.net/ico-guides and you will be able to take a glimpse at the proficient step-by-step Guide for ICO Launchers.
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halpi
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September 10, 2018, 11:57:17 PM |
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mate, the best beginner guide for newbies to invest in ICO - do research by yourself, don`t invest for the first month, first time better just do predictions
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bananaunana
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September 23, 2018, 10:51:33 PM |
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mate, the best beginner guide for newbies to invest in ICO - do research by yourself, don`t invest for the first month, first time better just do predictions
I can agree to a deep research, this is always very helpful and necessary. But I don't understand why do predictions?
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boyptc
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September 25, 2018, 02:38:04 AM |
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mate, the best beginner guide for newbies to invest in ICO - do research by yourself, don`t invest for the first month, first time better just do predictions
I can agree to a deep research, this is always very helpful and necessary. But I don't understand why do predictions? He means to say that try to do intelligent guess on how that ICO would go. But if I were you, I won't invest to ICO's.
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itdabhand
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September 25, 2018, 09:41:14 AM |
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Hi everyone,
Could you give a few answers on investing in ICO, please?
1. Whether investing in ICO a good choice for a newbie? 2. Which size of a bankroll should I have in order to start investing in ICO? 3. Which blogs and reviews can I take advantage of in order to gain profits?
Thank you in advance!
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Banemu
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September 28, 2018, 01:43:45 PM Last edit: October 01, 2018, 10:56:11 AM by Banemu |
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Hi everyone,
Could you give a few answers on investing in ICO, please?
1. Whether investing in ICO a good choice for a newbie?
As a newbie, I wouldn't recommend diving into investing in ICO yet, what you need to do, is grasp the necessary guides to understanding how ICOs work. Ii speak from experience because I got scammed other than that, there are many ICOs out there that are doomed to fail. Despite not being scams doesn't mean it's a success. There are hundreds of threads and topics that will give you a good clue to what to do and how to bakue your resources before plunging into ICOs and losing it. Here are some links https://bitcointalk.org/index.php?topic=5041497.0https://bitcointalk.org/index.php?topic=5004397
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itdabhand
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October 01, 2018, 10:38:17 AM |
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Hi everyone,
Could you give a few answers on investing in ICO, please?
1. Whether investing in ICO a good choice for a newbie?
As a newbie, I wouldn't recommend diving into investing in ICO yet, what you need to do, is grasp the necessary guides to understanding how ICOs work. Ii speak from experience because I got scammed other than that, there are many ICOs out there that are doomed to fail. Despite not being scams doesn't mean it's a success. There are hundreds of threads and topics that will give you a good clue to what to do and how to bakue your resources before plunging into ICOs and losing it. Here are some links https://bitcointalk.org/index.php?topic=5039628.0https://bitcointalk.org/index.php?topic=5004397Thank you very much! Great tips! I hope I'll go through all this. One more question. As far as I understood, I'll need some additional software to work with ICOs. People write about VPNs and proxies to access some geo-restricted websites with ICOs. Whether VPNs reviewed on CNET ( https://www.cnet.com/best-vpn-services-directory/) or here ( https://vpnservicepro.com) are the right choice for this? Do I need some free services or paid ones? Thanks in advance!
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