Bitcoin is often used in ICO, but you can use other cryptocurrencies as well, including Ethereum. If you plan to choose Ethereum for ICO, you should make sure that you won’t be scammed. There are a few pointers that you need to be aware of and you need to make sure that you can trust the team behind ICO. In recent years, it is getting more difficult to spot fake ICOs. Make sure that ICO creators are active in social media has a strong online presence. It would be a bad sign if you can’t find records of their past activities and you can’t contact them easily. Use instinct and common sense. You should be aware that if something sounds too good to be true, then it probably is. Regardless of the cryptocurrency you use, you should be fully aware about local regulations. Some countries implement stricter regulations regarding ICO and investors can save a good deal of hassle by understanding some basic facts.
It’s worth remembering that once you invest in an ICO, it is not possible to get your ETH tokens again. You can’t reverse the transaction and get a refund. Before you make a financial commitment, make sure that you thoroughly do your homework. Once you identify the right ICO, the next step is to buy Ethereum, that’s available as ETH or Ether tokens. Most of the time, ICOs don’t accept flat currencies, so you need to purchase Ethereum first. You need to sign up to an exchange that allows you to purchase Ethereum coins, such as Coinbase. After registered, transfer you flat fund and it can be turned into ETH. When Ether tokens have reached your wallets, you should be ready to participate in ICO. Make sure that your Ether tokens are safely stored. When storing Ether tokens, make sure that you use offline wallets, such as dedicated hardware media or paper. To reduce risks of hacking or online theft, don’t store ETH on exchanges for an extended period of time. Make sure that your wallet is compatible with ERC20 tokens, so you can participate in ICOs.
Once funds are deposited into wallet, you can transfer them for ICO. In an ICO website, you will need to input various data, such as an address to which your Ethereum will need to be sent. You need to provide your personal reference number, which can be inputted into the Data field. You also need to pay attention to the Gas Limit and it indicates whether a transaction is more expensive than a typical Ether Transaction. Finally, you need to specify the amount of ETH for the ICO. Ensure that you have completed all the necessary steps or your transaction will be rejected.
You need to use a system that can help you to exchange various confidential digital assets, without any interference from external parties. Services like P2PS, provide highly functional solutions. P2PS is a purely peer to peer digital communication platform that is secure and interference free. It fully supports various crypto currencies, including Bitcoin and Ethereum.