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What is an ICO?

What is an ICO?

ICO or Initial Coin Offering is a process by which new cryptocurrencies are entering into circulation. In the past years Bitcoin inspired many new cryptocurrencies based on the blockchain protocol. This new coins offer various advantages and improvements over bitcoin as well as original solutions to real-world problems in the social, technological and economical sectors. ICOs represent a new way to finance new and extraordinary projects. Back in 2009 when Bitcoin was launched you could buy a handful for under 0.01$, however due to its underlying properties it quickly rose in value. By buying new cryptocurrencies at the time of the ICO you have the chance to contribute to their launch and development as well as the projects behind them, in return you get the chance to own the new coins at an advantageous price.

 

 

 

What is the procedure of an ICO?

 

Each ICO differs in its structure and rules, these can be viewed and studied on the project's website. However in most cases the procedure is the following:

  • During ICO a finite number of coins is offered for sale at a fixed price
  • The ICO lasts for a predetermined period of time or until the full quantity of the offering is sold out
  • When the ICO is finished the coins are sent to the owners
  • The new cryptocurrency is than listed on various cryptocurrency exchanges where it can be traded on the open market

 

What are the risks associated with buying an ICO?

 

Like with any investment, there are certain risks associated with buying ICOs including the risk of loosing all your money by not being able to sell the coins you have purchased. Before you decide to purchase an ICO you should study carefully the details of the offer on the project's website. You must understand what is on offer, what are the goals and the roadmap the the project and get to know the team behind it. BTCxChange is not responsible in any way for the performance of the ICOs on sale.

 

What is the role of BTCxChange in the process of buying an ICO?

 

BTCxChange offers its customers an easy and secure way to buy ICOs. The process of buying ICOs directly can be very complicated and requires technical knowledge in order to make the correct transactions to the correct destination, which can lead to loosing your money if done incorrectly. BTCxChange accumulates its customers' orders and makes bulk purchases on behalf of its customers. When the coin is released to the buyers, customers who bought the ICO through BTCxChange will be able to withdraw the new coins to their own wallet through the Withdrawals section of the platform.

 

Some ICOs attract so much interest from the public that they end very fast. There were cases when an ICO was finished in less than 30 seconds from launch. Therefore buying in advance from BTCxChange you make sure you will not miss out. Our team will make the purchase on time.

 

Most ICOs are sold for ETH through the Ethereum blockchain. When there is a big interest for an ICO the Ethereum network can get very congested causing the transaction fee to skyrocket. There were cases when users had to pay 100$ in transaction fees for a purchase of 100$. BTCxChange minimizes this cost by making bulk purchases for its clients, therefore buying from BTCxChange can save you money.

 

 

Are there any commissions for buying ICOs on BTCxChange?

 

BTCxChange charges a 17.5% commission on all ICO purchases. This fee covers the operational costs and the transaction fees when buying ICOs. This fee is included in the displayed price. Please note that when buying with a currency different then the ICO currency there is a conversion involved which means that the price can fluctuate from moment to moment. BTCxChange does not charge fees for conversion from the purchase currency to the ICO currency.

 

How do I buy an ICO?

 

Buying an ICO on BTCxChange is simple. Deposit funds into your BTCxChange account (USD, EUR or Bitcoin) and visit the "ICO" section of the website, there you will see the list of active and upcoming ICOs. You can buy active ICOs straight away or pre-order upcoming ICOs. In case of pre-ordering the amount ordered will be bought at the moment of the ICO start. ICOs that have ended will no longer be available for purchase.

 

How do I sell my ICOs?

 

After the ICO is finalized and the newly created coins are released, the coins will be listed on various exchanges where they can be sold. The decision on where to list the ICO is at the discretion of the organizers. Once the coins are issued your ICO balance on BTCxChange will become available for withdrawal. You can then send the coins to any exchange you like in order to sell them. We understand that this process can be complicated, but we are here to help you with this process and guide you in the right direction. We are also working on solutions to allow the sale of the ICOs directly on BTCxChange.

 

Is my ICO purchase guaranteed?

 

While we make the best possible effort to ensure the purchase of the requested ICO there can be situations when we are not able to fulfill the order. Some ICOs have a limited amount available for sale and once this amount is sold, the ICO ends. While we make sure to maintain an accurate status of each and every ICO, the information presented on our website is not real-time. Therefore in some cases an order may not be fulfilled. In this case, the funds will be refunded to your account. We apologize for such situations, but it is not under our control. In order to ensure the successful fulfillment of your order, make sure to pre-order your ICOs before the start date. 

 

Where do I see the purchased ICOs?

 

Purchased ICOs can be seen in "My Account"

 

What are the accepted currencies for ICO purchase?

 

You can buy ICOs with EUR, USD or Bitcoin.

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