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Author Topic: Buying ICO Tokens  (Read 80 times)
_bitbook
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August 27, 2018, 06:47:20 AM
 #1

7 steps to buying ICO Tokens - For beginners

1. Enter project's website to register for the ICO
There you will find information about the project, where they specify what the project is all about, its goals, the amount of money needed, how long the funding campaign will go on for and so forth. This is where you register!

2. First, get Bitcoin or Ethereum
You will need one of the two major cryptocurrencies in order to be able to participate in an ICO. If you don't know how to buy cryptocurrencies there are lots of guides around that you can read! The minimum amount that you can invest depends on a particular ICO. It can be anywhere between $10 to $100, or 0.02 ETH to 1 ETH. The minimal investment amount is usually stated in the project’s white paper, which can be found on its website.

3. Move your Bitcoins or Ethereum to a wallet you control
Refrain from keeping your cryptocurrency in a wallet provided to you by an exchange. It jeopardizes the security of your funds, as you are essentially not in control of that wallet. Instead, move your tokens to a software wallet that keeps your passwords on the device of your choice. Alternatively, you can invest in a hardware wallet for added security.

4. Buy ICO tokens
Once you’re registered for an ICO and have your funds available and ready, all you need to do is send your cryptocurrency to the campaign’s address. Important to add that you should never use your exchange wallet address for purchasing ICO tokens because you will lose your money. You shall use only your personal wallet address.

5. Participate in an ICO by sending your crypto to their address
Follow the guidelines provided in the project’s website for a thorough guide on how to invest on their ICO. But, be extremely careful when sending your funds:
  • Check the website’s address to make sure is the correct one to avoid scammers' websites!
  • Check the project’s wallet address as many times as you can to ensure you're sending it to the correct one!
  • Make sure to include a little bit of extra Ether into your transaction. This extra Ether will go on transaction fee. The required amount is usually laid out on the project's website

6. You get ICO tokens to your address
You should receive your newly purchased tokens to your wallet’s address. If this doesn’t happen straight away- don’t worry and be patient. During a busy ICO, a lot of things can get delayed. So, make sure to stay up-to-date and consider communicating with other investors on dedicated platforms and forums.

7. Once you have your ICO tokens, figure out how to store them
Again, always make sure your funds are safe and secure. Most major ICOs will take the necessary steps for their token to be supported by major wallet services, especially by Ethereum’s official wallet service MyEtherWallet. Even if a particular token is not supported by it yet, the service enables you to add a custom ERC20 token. If you’re using a hardware wallet, any ERC20 token can be transferred to the device and managed through MyEtherWallet. Moreover, the hardware wallet manufacturers constantly update their lists of supported cryptocurrencies. If the token you invested in is getting that support, all you need to do is download and install the latest version of the official manufacturers’ firmware.

I’ve bought my first tokens, what now?
Well, there is no straight answer to that question. It’s an investment, so once you acquired your tokens, you basically have two options: hold and receive dividends or trade the tokens.

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arsene1
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August 27, 2018, 07:10:24 AM
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Nice piece, you may be surprised that a lot of people do not know these basics steps. But for me, I'm done with buying ICOs, I have much already.
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August 27, 2018, 09:44:08 AM
 #3

7 steps to buying ICO Tokens - For beginners

1. Enter project's website to register for the ICO
There you will find information about the project, where they specify what the project is all about, its goals, the amount of money needed, how long the funding campaign will go on for and so forth. This is where you register!

2. First, get Bitcoin or Ethereum
You will need one of the two major cryptocurrencies in order to be able to participate in an ICO. If you don't know how to buy cryptocurrencies there are lots of guides around that you can read! The minimum amount that you can invest depends on a particular ICO. It can be anywhere between $10 to $100, or 0.02 ETH to 1 ETH. The minimal investment amount is usually stated in the project’s white paper, which can be found on its website.

3. Move your Bitcoins or Ethereum to a wallet you control
Refrain from keeping your cryptocurrency in a wallet provided to you by an exchange. It jeopardizes the security of your funds, as you are essentially not in control of that wallet. Instead, move your tokens to a software wallet that keeps your passwords on the device of your choice. Alternatively, you can invest in a hardware wallet for added security. You can read more about Bitcoin and Ethereum wallets in our dedicated guides.

4. Buy ICO tokens
Once you’re registered for an ICO and have your funds available and ready, all you need to do is send your cryptocurrency to the campaign’s address.

5. Participate in an ICO by sending your crypto to their address
Follow the guidelines provided in the project’s website for a thorough guide on how to invest on their ICO. But, be extremely careful when sending your funds:
  • Check the website’s address to make sure is the correct one to avoid scammers' websites!
  • Check the project’s wallet address as many times as you can to ensure you're sending it to the correct one!
  • Make sure to include a little bit of extra Ether into your transaction. This extra Ether will go on transaction fee. The required amount is usually laid out on the project's website

6. You get ICO tokens to your address
You should receive your newly purchased tokens to your wallet’s address. If this doesn’t happen straight away- don’t worry and be patient. During a busy ICO, a lot of things can get delayed. So, make sure to stay up-to-date and consider communicating with other investors on dedicated platforms and forums.

7. Once you have your ICO tokens, figure out how to store them
Again, always make sure your funds are safe and secure. Most major ICOs will take the necessary steps for their token to be supported by major wallet services, especially by Ethereum’s official wallet service MyEtherWallet. Even if a particular token is not supported by it yet, the service enables you to add a custom ERC20 token. If you’re using a hardware wallet, any ERC20 token can be transferred to the device and managed through MyEtherWallet. Moreover, the hardware wallet manufacturers constantly update their lists of supported cryptocurrencies. If the token you invested in is getting that support, all you need to do is download and install the latest version of the official manufacturers’ firmware.

I’ve bought my first tokens, what now?
Well, there is no straight answer to that question. It’s an investment, so once you acquired your tokens, you basically have two options: hold and receive dividends or trade the tokens.



You forget to state a very important point. Never use your exchange wallet address for purchasing ICO tokens because you will lose your money. You shall use only your personal wallet address.
_bitbook
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August 27, 2018, 09:59:51 AM
 #4

7 steps to buying ICO Tokens - For beginners

1. Enter project's website to register for the ICO
There you will find information about the project, where they specify what the project is all about, its goals, the amount of money needed, how long the funding campaign will go on for and so forth. This is where you register!

2. First, get Bitcoin or Ethereum
You will need one of the two major cryptocurrencies in order to be able to participate in an ICO. If you don't know how to buy cryptocurrencies there are lots of guides around that you can read! The minimum amount that you can invest depends on a particular ICO. It can be anywhere between $10 to $100, or 0.02 ETH to 1 ETH. The minimal investment amount is usually stated in the project’s white paper, which can be found on its website.

3. Move your Bitcoins or Ethereum to a wallet you control
Refrain from keeping your cryptocurrency in a wallet provided to you by an exchange. It jeopardizes the security of your funds, as you are essentially not in control of that wallet. Instead, move your tokens to a software wallet that keeps your passwords on the device of your choice. Alternatively, you can invest in a hardware wallet for added security. You can read more about Bitcoin and Ethereum wallets in our dedicated guides.

4. Buy ICO tokens
Once you’re registered for an ICO and have your funds available and ready, all you need to do is send your cryptocurrency to the campaign’s address.

5. Participate in an ICO by sending your crypto to their address
Follow the guidelines provided in the project’s website for a thorough guide on how to invest on their ICO. But, be extremely careful when sending your funds:
  • Check the website’s address to make sure is the correct one to avoid scammers' websites!
  • Check the project’s wallet address as many times as you can to ensure you're sending it to the correct one!
  • Make sure to include a little bit of extra Ether into your transaction. This extra Ether will go on transaction fee. The required amount is usually laid out on the project's website

6. You get ICO tokens to your address
You should receive your newly purchased tokens to your wallet’s address. If this doesn’t happen straight away- don’t worry and be patient. During a busy ICO, a lot of things can get delayed. So, make sure to stay up-to-date and consider communicating with other investors on dedicated platforms and forums.

7. Once you have your ICO tokens, figure out how to store them
Again, always make sure your funds are safe and secure. Most major ICOs will take the necessary steps for their token to be supported by major wallet services, especially by Ethereum’s official wallet service MyEtherWallet. Even if a particular token is not supported by it yet, the service enables you to add a custom ERC20 token. If you’re using a hardware wallet, any ERC20 token can be transferred to the device and managed through MyEtherWallet. Moreover, the hardware wallet manufacturers constantly update their lists of supported cryptocurrencies. If the token you invested in is getting that support, all you need to do is download and install the latest version of the official manufacturers’ firmware.

I’ve bought my first tokens, what now?
Well, there is no straight answer to that question. It’s an investment, so once you acquired your tokens, you basically have two options: hold and receive dividends or trade the tokens.



You forget to state a very important point. Never use your exchange wallet address for purchasing ICO tokens because you will lose your money. You shall use only your personal wallet address.

That is an excellent point! Will add it now!
r1s2g3
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August 27, 2018, 04:11:07 PM
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Stop Buddy before you invest in ICO.
Just go and buy ICO token and invest your money?
Who will read the whitepaper?
Who will do the research to verify the usability and feasibility of the project?
Who will check if said team already exist?
What about checking some github code?


It is not as simple as you think to invest in ICO.



_bitbook
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August 27, 2018, 04:15:36 PM
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Stop Buddy before you invest in ICO.
Just go and buy ICO token and invest your money?
Who will read the whitepaper?
Who will do the research to verify the usability and feasibility of the project?
Who will check if said team already exist?
What about checking some github code?


It is not as simple as you think to invest in ICO.




I agree is not that simple. And of course people have to read the white paper, understand what the project is about, if it's feasible, investigate the team involved in the project, etc. Which is why I said in the 1st point that in the ICO website one can find all the resources one needs to check the project. "1. Enter project's website to register for the ICO: There you will find information about the project, where they specify what the project is all about, its goals, the amount of money needed, how long the funding campaign will go on for and so forth."

Thank you for the warning though! Everyone should dedicate enough time to understand any project before investing any of their money.
justin86
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August 27, 2018, 04:36:21 PM
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That may be more difficult now because of kyc verification etc, I would not suggest joining in any ico to newbies unless there is really good project.

r1s2g3
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August 27, 2018, 06:12:16 PM
 #8

Stop Buddy before you invest in ICO.
Just go and buy ICO token and invest your money?
Who will read the whitepaper?
Who will do the research to verify the usability and feasibility of the project?
Who will check if said team already exist?
What about checking some github code?


It is not as simple as you think to invest in ICO.




I agree is not that simple. And of course people have to read the white paper, understand what the project is about, if it's feasible, investigate the team involved in the project, etc. Which is why I said in the 1st point that in the ICO website one can find all the resources one needs to check the project. "1. Enter project's website to register for the ICO: There you will find information about the project, where they specify what the project is all about, its goals, the amount of money needed, how long the funding campaign will go on for and so forth."

Thank you for the warning though! Everyone should dedicate enough time to understand any project before investing any of their money.

So it simply means your article is not adding any value here. Somebody intelligent enough to do all the research and find the information do really need this type of information  like "Buy bitcoin and Ethereum" or " Buy ICO tokens " or " Participate in an ICO by sending your crypto to their address " ?

I think it better if you invested your time in posting something useful. Writing this big post is really time and effort consuming but it is of no use .


Waradlain
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August 27, 2018, 06:59:27 PM
 #9

That may be more difficult now because of kyc verification etc, I would not suggest joining in any ico to newbies unless there is really good project.

This.
I won't advise you to invest in ICO not owning special knowledge in this regard and especially not investing being a noob in this business. The risk of being deceived is extremely high and I don't think that it's possible to find a good campaign at random.
HeliumChain
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August 27, 2018, 08:59:13 PM
 #10

This is a good read: https://  icorating.  com/report/ico-market-research-q2-2018/

(I'm a newbie I can't post links)

Q4 last year and Q1 this year were really good with regards to ICO returns. If you sold at the right time anything would have netted you a x2 or x20 return.

Success stories linger so people are still buying in. Average return for ICOs in Q2 this year was -55%. Q3 might even be worse.

So before you throw your life savings at an ICO: start small and familiarize yourself with the crypto space. Yesterday's ICOs were money making machines. Today's are not. You're late to the party. There will be plenty of opportunity to do well in this market so try to get an overview of everything and don't fall for empty promises.
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