Initial coin offerings allow exciting new cryptocurrency projects to crowdfund development by selling tokens directly to the public. As an investor, getting in on promising ICOs early can mean substantial rewards later. However, the process has pitfalls for the unprepared. This guide will outline the key steps to take part successfully so you can acquire tokens during an ICO. We will use the upcoming offering for Harambe as our example while walking through best practices that apply generally, from setting up wallets safely to funding accounts.
Let’s jump into the key things you need to know to participate in the Harambe Token ICO.
Get a crypto wallet first thing
The very first step to take part in any ICO is setting up a cryptocurrency wallet to hold the tokens you aim to purchase. Many exist like MetaMask, TrustWallet, etc so research options for safety and compatibility with the blockchain of the offering, especially if new to crypto. For Harambe’s ICO on Ethereum for example, MetaMask which connects to that network works well. As this will represent a real financial investment, devote care to following the wallet provider’s steps for guarding your access keys and seed phrase. Treat these like cash since lost keys mean forfeited crypto assets.
Save seed phrase securely
When you initialize your new crypto wallet, be sure to carefully write down the generated “seed phrase” code of usually 12 special words in the exact order. This key can restore access to your wallet and tokens if you ever lose login information or switch devices. Fail to keep it safe, and irretrievable loss of holdings can result. Common advice is storing the phrase offline in multiple physically secure places with precautions against damage. For significant investments, even consider secure storage methods like bank vaults. Just don’t digitally save your seed phrase or photograph it where it can leak online.
Research Harambe offerings
As enthusiasm builds around the Harambe Token ICO, be sure to thoroughly research all official channels to understand the investment opportunity. The harambe.io website outlines available sale phases with dates, token prices in ether, and bonuses offered. Social media and announcement pages will also specify which countries can participate, purchase caps per person, and the location of the sales dashboard you will use. Consulting reputable blockchain analysis sites provides independent insight into the project’s viability and growth potential as well. Become an informed investor.
Gather identity documents
To be ready for Harambe Token’s ICO and comply with anti-fraud regulations, you will need a government-issued photo ID handy like a passport, driver’s license or national identity card. Proof of current residential address via a recent utility bill, bank statement extract or similar must also be prepared, as exchanges require identity verification. Ensuring everything matches across documents avoids problems. For larger purchases above $10,000 equivalent, stricter checks often apply. While inconvenient, such due diligence practices increase ecosystem legitimacy and will streamline your participation.
Fund wallet with crypto
Once your secure wallet is set up, you’ll need to fund it with crypto to trade for Harambe Tokens during the ICO. Most offerings accept popular coins like Ethereum’s ether. Purchase via a linked debit card or wire transfer money to a major exchange like Coinbase first to acquire ether, then withdraw to your wallet address. Leave buffer time for transactions to be fully processed before the sale. Check Harambe Token’s site for updates on whether certain stablecoins will also be permitted to minimize volatility risk after funding your wallet. Factor in all fees and bonuses when budgeting your investment amount.
Navigate sale dashboard
On the launch of the public sale, the official Harambe Token site will display a dashboard portal to participate, requiring your verified authenticated wallet signature to access. Carefully enter the quantity of Harambe you wish to purchase in the order form according to remaining availability. Know the exchange rate terms like bonus multipliers and be sure your wallet contains sufficient ether funds to cover. Review all prompted disclosures and disclaimers before completing transaction steps. Upon confirmed successful contribution, the acquired Harambe Tokens will become viewable in your connected wallet per the blockchain transfer.
Input desired purchase
At the investment quantity selection screen during Harambe’s ICO, first confirm eligibility if certain countries, wallet types or purchase caps apply, often for regulatory compliance. Make sure to input leading zeros if the form expects a numerical figure rather than a word amount. Start conservatively then increment upward if motivated for more exposure, as quantities are not guaranteed until the digital transaction processes. Receive clear error notifications if anything prevents confirming your intended buy-in for troubleshooting before ICO participation closes. If the sale hits maximum supply or ends while finalizing, you risk missing out, so have the desired amount ready in advance.
Receive Harambe tokens
As soon as the ICO sale successfully processes your crypto contribution, the smart contract system distributes newly minted Harambe Tokens to the wallet address you connected. This occurs almost instantly upon confirmed payment clearing rather than waiting days as typical for stock brokers. Check that the Harambe balance appearing in your wallet interface matches your expected amount using explorers like Etherscan for the blockchain involved, in this case, Ethereum. Save records of all transactions and any email purchase receipts for taxation purposes later when redeeming. Once in your wallet, you fully own the tokens to hold, trade or utilize upcoming project features as conferred.
Conclusion
Following this step-by-step guide, you now understand the essential process required to take part in an exciting new token ICO launch like Harambe’s upcoming offering. By setting up secure crypto wallet access, funding your account with ether or other permitted coins, gathering necessary identity proofs, closely monitoring the sale portal to commit your desired investment amount at the best bonuses before limits hit, and then finally receiving your Harambe Token allotment – you are ready to join pioneering early supporters of promising blockchain projects positioned for potential major growth ahead. Stay engaged on all company updates as an investor community member working toward shared success.
