The step-by-step guide on how to participate in ICOs provides an overview of what a user needs to do in order to be able to invest in a startup company. The guide is split into two parts. Step1 covers the part where a user first needs to obtain the cryptocurrency. Step2 is about participating in the actual ICO. For more info on how to buy Bitcoin and other cryptocurrencies follow our guide. Storing coins on an online exchange might not be a good idea unless you are a day trader. Once you get your first Bitcoins/Ether find a wallet which is under your control.
Step2 – the ICO participation
Please note each ICO is different and has its own tricks. This guide provides a more general overview on how people participate in token sales. The rising interest in this new type of crowdfunding creates new challenges: the token sells off in a matter of minutes, networks get overloaded, and transactions slow down, scammers are getting more creative in fooling people, these token sales are huge honeypots in the eyes of hackers. ICOs lack any type of government regulations, and if something bad happens, there are no refunds. Currently, Ethereum is the most popular crowd sale platform in the blockchain space. This might change anytime. Waves is another project which successfully conducted token sales on its blockchain. After receiving your tokens consider moving these to cold storage. Additionally, it is recommended to keep up with the news surrounding the projects you invested in. Startups could go offline without any further notice and leave the investors wondering what happened: example HackEtherCamp.