IC0 stands for INITIAL COIN OFFERING.
A stake of the company sold via a crowd-funding campaign that is open to the public. You can invest in the ICO to receive tokens in return.
What are Token User For?
Tokens can be used as transaction fees or other utility uses.
Token can be used as a store of monetary value
Token can be used as shares to distribute profits.
How to Participate In An ICO?
Keep your ETH in a personal wallet.Exchange wallets are risky and don not work well when participating in ICOs. Use a personal wallet like Atomic. Mist or MEW my EtherWallet. For bestresults.
Double check the details and address of ICOs
Make sure that you get the dates and block number of the ICO correct. The most important thing to take note of is the Smart Contracts Address.
Send your ETH to right address and gas a higher gas price.
Higher gas prices mean that your block is given higher priority by miners. Your transactions will go through quicker even if the network is congested.
Wait for your token to be released
If the funding target is net, your token will be sent to your personal address, if not your investment will be refunded.
Fact about ICO
Basic Attention Token’s ICO Raised $35 millions in 30 seconds.
Crypto currency world is riddled with technical jargon and complex understanding, which mostly goes over my head. ICO is among the easier things. I want to have some clarity about 'gas'. What is this? Suppose I am sending 1 eth to some other address then I just send it from one wallet to other, how is gas important to me or is is the transaction charges taken for the transfer.