The complete guide to participating in an ICO public sale
The idea of participating in an ICO public sale can be both exciting and intimidating for beginners. Usually, it is believed that whales dominate the cryptocurrency ecosystem, and whales get all the money as well as the best trades. Although whales benefit from a new ICO sale and try to exert their dominance, it is also important to remember that every expert was once a beginner. Thus, you, as a beginner, can thrive in the cryptocurrency world if you take the right steps and understand how to buy ICO coin.
How to get started: A step-by-step guide
Thanks to social media channels and various ICO listing sites, it is easy to get information about upcoming ICO projects and what they are offering. Most ICO listing sites give ranking to ICO projects, making it easier for you to find out which projects are worth your time and money. Once you decide to embark on the journey to buy your ICO coins, these are the steps that you need to follow:
Step 1: Get the required cryptocurrency to buy your chosen tokens
Every project has its own website where you can buy the coins. Moreover, each project offers different currencies that can be used to buy the tokens. While some provide their tokens in exchange for Bitcoins, others allow you to buy their ICO coins in exchange for Ethereum or may be other cryptocurrencies. Some projects even allow potential investors to buy ICO coins in exchange for fiat money. Make sure that you have the required cryptocurrency, or fiat currency, against which you can buy your preferred ICO coins.
Step 2: Set up a wallet
To buy ICO coins, you need a wallet where the cryptocurrency, against which you will buy the tokens, will be stored. Once you have purchased the tokens, they will be transferred to the same wallet. A cryptocurrency wallet is an online storage system that keeps your tokens secure. Prior to buying the tokens, set up the wallet for yourself so you can get your tokens transferred to your wallet after you buy them.
Step 3: Participate in the ICO sale
Once you have the funds set up in your wallet, you can use them in your chosen ICO public sale. Get registered on your chosen ICO platform, send over your currency and get the tokens of your choice. Go through the rules and limitations of the ICO project. While some make the tokens available right away, others have a small waiting period.
Step 4: Secure your tokens in your wallet
Getting the tokens does not end your job. You may have ownership of your tokens through fair and legitimate trade, but you need to keep your tokens secure. Transfer the tokens into your wallet so that you do not lose any of them.
KYC is important
In addition to understanding the steps related to how to buy ICO coin, it is equally important to know that KYC is a crucial step in the ICO process. KYC, or Know Your Customer, is a security tool that helps ICO project owners to ensure that only those who have the right credentials, and those who successfully meet KYC requirements, can participate in an ICO sale.
A plethora of ICO projects hit the market, making it overwhelming for potential investors to choose the right project for investment. Furthermore, there are different types of ICO sales – there is a pre-sale, there is a private sale and then there is a public sale. It can get confusing for the beginners. Pre-sale and private sale help ICOs to raise a little more money before the public sale. Some ICOs use pre-sale and private sale as a test run prior to the main sale. Some projects also provide the coins at a better rate with additional perks, during these sales. Thus, adequate research is crucial.
Cryptoxygen is one of the best ICO projects for investment. Its OXY2 utility token will provide the users of Cryptoxygen platform with special benefits like zero fee to transfer tokens from Cryptoxygen platform to wallet, lower trading fees, and access to membership and loyalty programs. Moreover, Cryptoxygen is offering 20% bonus to its investors during the first phase of ICO. For step-by-step information on how to buy ICO coin offered by Cryptoxygen, check out https://cryptoxygen.wordpress.com/2019/01/15/how-to-buy-cryptoxygen-oxy2-tokens-the-complete-guide/