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I have probably heard stories about people who found the “next great cryptography” before anyone else. They invest a small amount and saw him become something huge. Often, these stories begin with something called ico.
An initial offer of coins, or ICO, is where many new and exciting cryptographic projects begin. But from the outside, the process may seem really complicated and even a bit scary.
But do not worry, this guide on how to buy tokens ico is here to simplify it. We will guide it through each step, from preparing your wallet to make your first purchase. Let’s start!
What is an ICO? A quick and simple explanation
The easiest way to think about an ICO is to compare it with a crowdfunding website such as Kickstarter. In Kickstarter, people give money to a new company to help them create a product. In return, they could obtain one of the first products made.
An ICO is very similar, but for a new cryptographic project. The project team sells its new cryptographic tokens to investors to raise money. This money helps them build their technology, and investors get tokens, hoping that they become much more valuable in the future.
The great warning: take into account the risks
Before going further, we need to talk about something very important: risk. Investing in ICO is one of the most risky things you can do in the cryptographic world. It is considered a high -risk activity and high reward.
Many new projects fail, and unfortunately, there are also many scams out there. Therefore, you must remember the golden rule of cryptographic investment: never invest more than you are willing to lose completely. His best friend in this process is a good investigation, which will help him avoid making a bad decision.
What you will need before starting
Before you can jump to an ico, you must prepare some things. Think about this as your preparation verification list. Obtaining this right part makes everything else much easier.
Get a compatible cryptographic wallet
This is the most important tool you will need. You cannot use the wallet you have in an exchange of encryption such as coinbase or binance. For an ICO, he needs a “Autocustody” wallet, which means he has the total control of her.
The most popular options are Metamask, which is an extension of the browser or trusted wallet, which is a mobile application. The reason you need one of these is that they allow you to connect directly to the ICO website and interact with your smart contract.
Buy the correct cryptocurrency
You cannot use dollars or euros to buy an ICO. You need to use other cryptocurrencies. Most ICOs will request popular coins such as Ethereum (ETH), BNB or stables such as USDT.
Before buying something, you must consult the official website of the ICO. It will tell you exactly what cryptocurrencies accept. It is a good idea to verify the current prices of cryptocurrencies so you can plan how much you need to buy to invest the desired amount.
How to buy tokens ico, step by step
Very good, you have your wallet and your cryptography ready to work. You are prepared for the main event. Now that you are prepared, let’s go through the main process of how to buy tokens ico.
Find a promising ICO project
This is the most critical step of all. Finding a good project is the difference between a great investment and a total loss. But with so many projects launched, how do you find them?
The easiest way is to use a platform that looks for it. The ICO List of good reputation are a great help because they collect information about many close projects in one place. They often provide details about the objectives of the project, the timeline and the equipment.
For investors who want to enter the earliest stage, you can even explore platforms that list exclusive cryptography present. These presales often occur before the main public ICO and offer tokens at the lowest price, but the risk is also at its highest point.
Carefully read the project website and the technical document
Once you find a project that looks interesting, it’s time for homework. This is called “doing your own research” (Dyor). Go to the official website of the project and look for your “technical document”.
The technical document is a document that explains everything about the project. You should look for the main objective of the project, the problem that is trying to solve and information about the team behind it. In addition, look at the “Tokenomic”, which explains how tokens will be used and distributed.
Connect your wallet to the ICO website
Did you find a project you think? Excellent! Now, go to its official ICO page. You will see a button that says something like “Connect the wallet.”
When clicking this, your Metamask or Trust wallet will appear and request your permission to connect to the website. Simply approve it and be linked and ready for the final step.
Enter the amount and confirm the transaction
You are in the finish line! On the website, you will now see a box where you can write how much cryptography (such as ETH or USDT) you want to spend. The site will automatically show how many of the new ICO tokens will receive in return.
If you are satisfied with the amount, click on the “Buy” or “Invest” button. Your wallet will appear for the last time to ask you to confirm the transaction. You will also see a small network rate called “Gas Rate”. If everything looks correct, confirm the transaction and finish.
What to do after buying tokens?
After completing the purchase, do not scare if you do not see the new tokens in your wallet immediately. This is completely normal. Most of the time, you must wait until the entire sale of ICO ends.
Many projects have a “tokens claim” period. This means that you must return to the same website after the end of the sale and click on a “claim tokens” button. Once you do that, the tokens will finally be sent to your wallet. Some projects also have “award schedules”, which means that they release their tokens slowly over time.
Tips to detect a good ICO (and avoid scams)
Learning these things is a crucial part of learning to buy tokens ico safely. Here is a quick verification list to help you.
- The team: MeS the public public? Do they show their real names and faces? A project with an anonymous team is an important red flag.
- The technical document: Is the plan clear, professional and easy to understand? Does a real problem solve or simply use many fashion words?
- The community: Check out their social networks, such as Telegram or Discord. Is there a real and active community of people who ask good questions? Or is it simply full of bombs and bots?
- Unrealistic promises: Be very careful with any project that promises “guaranteed” profits or great returns in a short time. Legitimate projects focus on their technology, not to promise that it will be enriched quickly.
Frequent questions (frequent questions)
What is the difference between an ICO and a presale?
A presale is a previous financing round that generally occurs before the main public ICO. It is often open to a smaller group of investors and can offer tokens with a larger discount. An ICO is the main open public sale for all.
Do you participate in a legal ICO?
Laws around ICOs are different in all countries and still evolve. In some countries, they are perfectly legal, while in others, they can be restricted. You must always be aware of the rules in your own country.
How do I add the new Token to my metamask wallet after claiming it?
After claiming their tokens, they may not appear automatically. In general, it needs to “import” the Token. The project will provide a “Token contract address” on its website. You can copy this address, go to your metamask, click “Import Tokens” and paste it. His new tokens will appear.
Conclusion
Participating in an ICO can be an exciting experience. While it seems that there are many steps, the process is actually very simple once you have passed it once. The most important things are to be prepared and be careful.
Always remember to do your own research and never invest money that you can’t afford to lose. We hope that this guide on how to buy tokens ico has given you the confidence to explore this exciting part of the cryptographic world.
For project founders, the launch of a successful ICO implies many complex strategic steps. If you are building a project and needs professional support to make its launch a success, do not hesitate to contact us to obtain guidance.
