Section 5: How to participate in an ICO?
The first requirement to participate in an ICO event is the ownership of cryptocurrencies. Start by register-ing an account on a digital currency exchange. The next step is to load fiat currency such as USD, EUR, or Yen, in your account, and purchase the desired cryptocurrency, bitcoin or Ethereum etc. After the purchase, you can store your digital currency in a web wallet or choose a hardware cryptocurrency wallet.
At the time of an ICO, start by carefully understanding the ICO agreement, which includes the details such as target price per coin, timeline, and other rules governing the transaction. Every company recommends specific wallets for the transaction, so go ahead and download the wallet. The norm is for ICO projects to provide a receiving wallet address on the ICO web page that people can send their contributions to. Investors are encouraged to send any amount they are comfortable with provided it corresponds with the price per project token. The project team then in-turn delivers corresponding token amounts to the investor’s wallet. The tokens can be stored on web, mobile, or hardware cryptocurrency wallet.
Several ICO listing platforms such as ICOWatchlist.com offer a list of upcoming ICOs, allowing investors to find out more about the project. These listing platforms do some form of vetting before listing projects so one could to a larger extent rely on their information.
The key takeaway is to understand the offerings up front and read the industry outlook of every project before investing.
Find out the risks and benefits of the project, and do due diligence before investing any amount of money.
* Kindly note that by making use of the ICOWatchlist platform, you agree to our Disclaimer & TOU and are aware of the fact that the platform does NOT give investment advice. It is prudent to do your own research.
** Gold & Silver are sponsored positions.