Time to Make Some Money with Cryptos on Your First ICO. Here's how:
For those of you thinking about getting into BitCoin (or other crypto-currencies) there's no time like the present. In November I lent my father-in-law (not a U.S. Citizen or Permanant Resident) $300 to buy one Ethereum (ETH). He invested it in an ICO (Initial Coin Offering). A few days ago the tokens he bought with that ETH were worth $12,000.
You do have to be careful with ICOs though, do your research. Two good resources are ICO Bench and Smith+Crown . Otherwise google it, or watch youtube vids, but know that not all those pages/channels have your best interest in mind. Also when investing there is the possibility of losing money, so my personal advice is “don't risk more than you can afford to lose”.
What's been frustrating about ICOs is that for the most part United States citizens and Permanent Residents have had to sit them out. We get to stand by and watch people from other countries reap GREAT rewards, but we're not allowed to participate. The reason doesn't matter, I don't buy the government's propaganda anyway. The point is we're supposed to be free and it's UNFAIR!
In my situation I'm able to help my father-in-law so I still get to participate on some level. And in my research I've come across recently, a fairly well rated and novel ICO that U.S. Citizens ARE allowed to participate in.
The name of the ICO is VIOLA and it's an Asian Dating website. Do Asians like dating? There ARE 4.3 Billion Asians in the world (over half the population). The ICO looks very promising and brought in a 4.3 rating at ico bench.
After his initial success my father-in-law and I are diversifying his portfolio. He currently has small to modest positions in 9 different crypto-currencies and we're looking to buy into SEVERAL ICOs in the near future. Viola just happens to be one that U.S. Citizens are welcome to participate in. Like my father-in-law did in the beginning, if this is your first time, start small and take your time to learn. If I can help I will.
This IS the Gold Rush! And it's not going to last forever... so, strike while that Iron's hot. We've used referral links on this page wherever possible. I encourage you to use them. It costs you nothing, in some cases you get bonuses for using them in fact, and it gives us some credit for passing along the information.
Also, during VIOLA's ICO Pre-Sale, which ends at the end of January, you get 50% extra tokens. That's crazy! Imagine if my father-in-law had gotten 6,000 tokens on his first ICO instead of 4,000. Then instead of $12,000 his yield would have been $18,000.
To paticipate, often the hard part is buying cryptocurrency. I've used CEX.IO and CoinBase to buy cryptos online and I've used Paxful to buy them with cash at a convenience store. LocalBitCoins also has a pretty decent reputation and you can trade things like gift cards for Bitcoin (BTC) which is pretty cool IMO.
If you bought your BTC at an exchange then you can buy your ETH there. If you bought it from Paxful or LocalBitCoins then you need to transfer your BTC to an exchange. I personally like Binance because setup was faster and much less hassle. I didn't have to send them all the documents that I had to send to Coinbase.
Once you have your ETH create a wallet. I use MyEtherWallet Print your key, don't keep it on your computer as a digital file and don't take a picture of it with a device that connects to the web (this is also a digital file). Send the ETH to your wallet. Do not send funds to an ICO from an exchange, only from your wallet.
When you get “Whitelisted” by Viola or your ICO of choice they'll ask you for your wallet address. Give it to them. Don't give you key to anyone. But the address is safe to give out. That's how they know who sent them the currency and how to send you your tokens.
This post is getting kind of long. If there is any interest in it I'll be happy to make additional posts and hopefully we can all learn something and make some money while we're at it.
Please Follow, Upvote, Resteem... and leave a comment down below, I'm serious about helping people when I can.
Nice. Looks like a good ico, but I'm not sure yet if I want to invest in ICOs, very risky.
I agree, it's important to minimize risk by doing your research. One has to look at the dev team. If they're all former google and uber employees that's a good start. Also, don't bet the farm, just a small amount that won't hurt so much in the event of a bad outcome. I figure if I invest in 10 well researched ICOs and I lose everything on 3 of them, I'll still come out way ahead.
Great advice buddy! I am by no means great at crypto, but I like to learn and get better. I have helped a couple of my friends get into it and learn how to use it. Thank you for the great post!
Thanks man. It's not easy figuring out how to navigate the processes safely. Good of you to have helped others ;-)
From my standpoint it looks like this is probably here to stay !So IMO I really think people should start to educate themselves on the ins and outs of the crypto world at the very least !!! Great post SBS !!!
Thanks Mike. I buried my head in the sand for far too long. I knew about BitCoin in 2010, but basically laughed at the losses and blew it off. Yes, last week all cryptos lost value, but didn't they didn't go to zero and the historical trend has been that they bounce back, ever higher! So what do we do when silver's spot price drops? We BUY THE DIP! Same logic applies my friend.
It's nice that you are making money via crypto and helping out your family in the process!
I really don't understand it all and the fees etc you have to pay out just to get in the game put me off!
@originalworks