Gerry Barja explains:Purchasing initial coin offering has its challenges because many have no idea how to invest in an ICO. I will attempt to explain the easiest way to get involved without having to spend a lot of money and as easy as possible.
Most ICOs to date are actually tokens created on an Ethereum based ERC20 token standard. Ethereum has made it very easy to setup, and create a token with whats called a "smart contract". You don't have to understand how to create tokens but I just wanted to mention it so you understand the very basics of what you may be investing in.
Follow these general steps to purchasing an ICO (initial coin offering):
- Open an account with coinbase.com and purchase a small amount of Ethereum ie. $100
- Open up a new online Ethereum wallet at https://www.myetherwallet.com.
- Send Eth cryptocurrency to your new myetherwallet address.
- Seek out using a desktop the ICO you wish to purchase and commence your purchase by sending Ethereum crypto from myetherwallet to the target ICO.
Here is a video of a youtuber that made a pretty decent instruction video on using myetherwallet:
Written by: Gerry Barja
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