I participated in my first ICO this past week with the opening of Babb's main sale. It was an interesting experience with more than a few lessons learned. Here are my takeaways from my first ICO.
If you're interested in an ICO in the future you can follow these steps. Ethereum based token sale this seems to be the path.
- Have ether on hand in an account - https://gemini.com/ or https://www.coinbase.com/ are two examples.
- Have Trezor or another hardware wallet. (https://trezor.io/, https://www.ledgerwallet.com/)
- Transfer ether to wallet via myetherwallet.com
- Register for whitelist of ICO.
- Research, Research, Research to make sure you believe in the project and can explain what it is.
- If you still feel good about the ICO - follow the directions for ether transfer on the day of the ICO - and only the direction on the ICO website.
You can follow telegram channels if you wish to get some of the latest info - lots of noise and useless questions on some of those channels but you can learn a little.
Make sure you do each of the steps above in plenty of time and research the different exchanges, wallets, and methods thoroughly so you're protected. If you don't have your Trezor or Ledger yet plan on ICOs that are at least 2-3 months in the future to give yourself time to be fully setup.
Happy ICOing.
Not financial advise.
Not exchange, wallet, or investing advise - just what I did listed!
I put some of my hard earned money into Babb.
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