There is a mistake in all this.
Ico Red Pulse runs on the NEO blockchain and can only participate with NEO coins; Not Btc and not Eth!
At the end, the RPX "tokens" are credited to the NEO wallet, but will be traded when they are listed on an exchange.
Almost surely it will be Binance exchange.
Topic: Basic questions regarding ICOs (Read 392 times)
Hi all
So Ive done my due diligence on participating in ICO's so I wanted to run what I learned by this community to see if Ive understood it correctly
First and foremost you dont want to send ethereum (or other crypto) from an exchange, next you want to be registered in the whitelist BUT this isnt always required for some ICO's it is completely open on the starting day for example RedPulse requires no sign up for its crowdsale
Secondly,we need to send the Ethereum (or Neo) to the address as specified on the website (being cautious of hackers altering the address) using the reccomended gas (although the gas part doesnt apply to Neo ICOs)
Next I am aware that sometimes due to unexpected turnout the ICO will "shutdown" if it reaches a previously established hardcap, so my question here would be: What happens to my ethereum (or Neo) if I send it to an ICO address but it has already ended? Would I get refunded or would my funds be lost forever?
After the conclusion of the ICO how long does it usually take to receive the tokens? And after that, how do we find out what exchanges will be hosting it, and when exactly the exchange will begin hosting it?
In the case of Ethereum-based ICO's the ERC20 tokens get sent to MyEtherWallet, but how will that work for example in RedPulse's ICO, will the tokens be automatically sent to Neo's NEON wallet?
cheers all and thanks for your time!
1. CorrectSo Ive done my due diligence on participating in ICO's so I wanted to run what I learned by this community to see if Ive understood it correctly
First and foremost you dont want to send ethereum (or other crypto) from an exchange, next you want to be registered in the whitelist BUT this isnt always required for some ICO's it is completely open on the starting day for example RedPulse requires no sign up for its crowdsale
Secondly,we need to send the Ethereum (or Neo) to the address as specified on the website (being cautious of hackers altering the address) using the reccomended gas (although the gas part doesnt apply to Neo ICOs)
Next I am aware that sometimes due to unexpected turnout the ICO will "shutdown" if it reaches a previously established hardcap, so my question here would be: What happens to my ethereum (or Neo) if I send it to an ICO address but it has already ended? Would I get refunded or would my funds be lost forever?
After the conclusion of the ICO how long does it usually take to receive the tokens? And after that, how do we find out what exchanges will be hosting it, and when exactly the exchange will begin hosting it?
In the case of Ethereum-based ICO's the ERC20 tokens get sent to MyEtherWallet, but how will that work for example in RedPulse's ICO, will the tokens be automatically sent to Neo's NEON wallet?
cheers all and thanks for your time!
2. Correct
3. You normally will get refunded. I highly recommend getting this info explicitely for each ICO though, since you never know what kind of people run it.
4. This varies from project to project. Sometimes you get your tokens almost right away, sometimes it can take days, weeks or even a month and longer. The time at which your token will be listed on an exchange varies widely as well and you will have to follow the project very closely to get information about this. In general, I recommend only investing in long-term projects and ignoring whether or not the token is listed on any exchanges in the short term. An example where this is the case would be SONM.
5. Your tokens are assigned/sent to the address that you've sent ETH or NEO from. Some tokens are not "immediately" usable by some wallets, but they are always "tethered" to your corresponding address. Sometimes you may have to jump through some hoops to move your tokens around though. I believe that this is usually not the case with MEW and I can only assume that it should be fine with NEO (but I do not know).
P.S. Always double and triple check: The address to which you send any tokens to, as well as the URL of the ICO and online wallets. Be as paranoid as you possibly can be to avoid any potential scams and phishing. People lose a lot of money in this market because they don't pay enough attention and put too much trust in others. Don't believe what anybody says anywhere, no matter how reputable they are. Always expect the worst and make sure you can deal with it in some way.
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Hi all
So Ive done my due diligence on participating in ICO's so I wanted to run what I learned by this community to see if Ive understood it correctly
First and foremost you dont want to send ethereum (or other crypto) from an exchange, next you want to be registered in the whitelist BUT this isnt always required for some ICO's it is completely open on the starting day for example RedPulse requires no sign up for its crowdsale
Secondly,we need to send the Ethereum (or Neo) to the address as specified on the website (being cautious of hackers altering the address) using the reccomended gas (although the gas part doesnt apply to Neo ICOs)
Next I am aware that sometimes due to unexpected turnout the ICO will "shutdown" if it reaches a previously established hardcap, so my question here would be: What happens to my ethereum (or Neo) if I send it to an ICO address but it has already ended? Would I get refunded or would my funds be lost forever?
After the conclusion of the ICO how long does it usually take to receive the tokens? And after that, how do we find out what exchanges will be hosting it, and when exactly the exchange will begin hosting it?
In the case of Ethereum-based ICO's the ERC20 tokens get sent to MyEtherWallet, but how will that work for example in RedPulse's ICO, will the tokens be automatically sent to Neo's NEON wallet?
cheers all and thanks for your time!
So Ive done my due diligence on participating in ICO's so I wanted to run what I learned by this community to see if Ive understood it correctly
First and foremost you dont want to send ethereum (or other crypto) from an exchange, next you want to be registered in the whitelist BUT this isnt always required for some ICO's it is completely open on the starting day for example RedPulse requires no sign up for its crowdsale
Secondly,we need to send the Ethereum (or Neo) to the address as specified on the website (being cautious of hackers altering the address) using the reccomended gas (although the gas part doesnt apply to Neo ICOs)
Next I am aware that sometimes due to unexpected turnout the ICO will "shutdown" if it reaches a previously established hardcap, so my question here would be: What happens to my ethereum (or Neo) if I send it to an ICO address but it has already ended? Would I get refunded or would my funds be lost forever?
After the conclusion of the ICO how long does it usually take to receive the tokens? And after that, how do we find out what exchanges will be hosting it, and when exactly the exchange will begin hosting it?
In the case of Ethereum-based ICO's the ERC20 tokens get sent to MyEtherWallet, but how will that work for example in RedPulse's ICO, will the tokens be automatically sent to Neo's NEON wallet?
cheers all and thanks for your time!
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