An ICO or better known as initial currency offering is a form of funding using virtual currency. This type of fundraising is done by private corporations. Established private companies or startup companies sell an ICO in exchange for legal tenders or bitcoins and Ethereum. These tokens are sold out to investors as a future guarantee functional unit of currencies. Below are ways to acquire ICO tokens.
Access the website and apply for an ICO.
Any company indulging in ICOs must have a website that you can buy these currencies and also learn about the project you are going to fund. On these websites, you will find information like how much money is needed for the said project, how long will the fundraising go, and the company targets and achievements.
As you are registering to get ICO, be on the lookout for companies that don’t require any registration. Most of the times, this is a sign of a fraudulent company. Do your investigations before making any purchase. You can also search for the ICO List and search for the company you are getting involved in. This will give you a clear vision of the company’s history.
Have one of the major cryptocurrencies.
To take part in an ICO, you will need to have either the Bitcoin or Ethereum. This two are mostly preferred due to their dominance. However, many companies tend to use more the Ethereum. Reason being, it is very stable and offers a good blockchain. The least amount you can invest will only depend on an ICO. Such information you can get on the website.
Transfer your Bitcoins and Ethereum to a secure personal wallet.
When it comes to wallet security, you need to be keen. It has been said more than a million times that you need to avoid keeping your cryptocurrencies in a wallet that was provided to you by an exchange. It’s wise to store your funds where you have 100% control over your wallet. A pen drive wallet is the best option because it has capabilities to store funds offline hence reducing hacking and theft.
Making ICO token purchase.
Once you have done all the above successful, you can now buy the tokens. You are required to send your cryptocurrencies to the address given by the company. Be sure to check twice the website’s address and the project wallet address before pressing the enter key. Some sites have a guideline on how to buy.
Sending the newly purchased tokens to your wallet.
After buying the tokens, the company should send the tokens to your wallets. The tokens will be reflected on your wallet, depending on the level of activities on the website. Some will take seconds others as long as five months. Some of the tokens can’t be sold immediately, but this entirely relays on regulations of an individual ICO.
How to store ICO tokens.
Again, this is a very crucial thing. Most of the ICOs will provide exclusive wallet to store tokens for their customers. We will continue insisting that any virtual money should be stored in a dedicated pen drive wallet for it is more secure and reliable.
Lastly, any passwords of security details should be kept secret no one should ask you for them and be on the lookout for fraudsters or look for professional help to make these purchases.