Topic: How do you receive the token from an ICO Campaign? - page 2. (Read 839 times)
It depends on the ICOs you are investing in. If it is ETH tokens, you can receive it your ETH wallet which you control the secret key (One example is myetherwallet). There are other ICOs which issue tokens to counterparty, waves and etc. You have to read the ICOs’ websites to find out.
I just got to know ICO after I read and understood, I know that ICO needs a wallet to collect a coin which will then be paid when the campaign ends. I recommend not to use wallet exchanger.
I'm sort of a newbie, but I'm looking into a few ICO, and I'm wondering how someone receives their tokens? Where do the tokens show up? There's obviously no wallet for such a new coin (unless I'm missing something on their website), so if I give them some of my ETH, how do the tokens get assigned to me personally? By the way im using adroid phone. Any android app supports ICO tokens?
This might be a dumb question but I have a very elementary grasp on blockchain tech. Thanks in advance.
This might be a dumb question but I have a very elementary grasp on blockchain tech. Thanks in advance.
I have several times followed altcoin project campaigns that use etherium platform and waves. The token will automatically log in according to the distribution plan of the developer team. You can receive tokens from campaign results using android, I also use chrome browser.
note: if you use campaign, never use wallet exchanger.
Joining the campaign, follow the rules. At the end of ico, they will know that your wallet address sent ethereum to the ICO and it knows the particular amount, then it execute itself to pay your tokens to your own Ethereum wallet.
If their token is ERC-20 token (built on Ethereum platform, which most are), you send ETH to a smart contract address they provide (from a wallet like MEW, Parity, MetaMask ... and NOT from an exchange) and the smart contract will automatically give you back their tokens. So, in this case, any ETH capable wallet where you control the private keys can also hold ICO tokens. In some wallets, you need to manually set that you have new tokens (like in MetaMask: you click TOKENS, Add token, then add the token address, decimal places (usually 18) and token symbol ... ICO project will give you this information) and once you do that they will immediately show. In some other wallets (MEW), tokens will be shown automatically. You can then transfer this tokens to exchanges or other ETH wallets like you do with the ETH.
The ICO you joined is using a smart contract within ethereum blockchain. It knows that your wallet address sent ethereum to the ICO and it knows the exact amount. Then it execute itself to pay your tokens to your own ethereum wallet. This is how it works.
Some I have seen so far are just an ethereum token, built on top of the ethereum blockchain using their fancy code.
I'm sort of a newbie, but I'm looking into a few ICO, and I'm wondering how someone receives their tokens? Where do the tokens show up? There's obviously no wallet for such a new coin (unless I'm missing something on their website), so if I give them some of my ETH, how do the tokens get assigned to me personally? By the way im using adroid phone. Any android app supports ICO tokens?
This might be a dumb question but I have a very elementary grasp on blockchain tech. Thanks in advance.
This might be a dumb question but I have a very elementary grasp on blockchain tech. Thanks in advance.
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