How to participate Ethereum token crowdsale and which wallets are compatible?
Instructions for participating Ethereum token crowdsales
To participate Ethereum token sale you need a wallet service or an application where you and you only holds the private keys. Private keys are needed to correctly interact with smart contract functions, like transferring tokens.
DO NOT SEND ETHEREUM TRANSACTIONS DIRECLY FROM CRYPTOCURRENCY EXCHANGES. YOU NEED A TOKEN COMPATIBLE ETHEREUM WALLET.
Participating the token sale
- Buy ether in a cryptocurrency exchange
- Transfer ether to a compatible wallte (see below)
- Send a deposit to token sale address with correct data and gas limit values
Sending a token sale transaction
token sale deposit transactions need to have non-default gas limit (a.k.a. transaction maximum gas). This is because token sale transactions are more complex than simple Ethereum transfer transactions. The default gas limits is too low to correctly perform a token sale deposit.
To participate an Ethereum token sale you need to fill your transaction with following details
Address - this is given you on the crowdsalse deposit page.
Data - this is your personal reference number and it changes for every transaction. Do not share this with others. If you leave data field out your transaction is rejected.
Gas limit: 250000 - gas tells that this is a smart contract transaction and is more expensive than normal Ether transfer.
Note: If you are using MyEtherWallet.com please double check your the gas limit field value after filling the data field. MyEtherWallet may reset the gas value to an invalid number after inputting the data field.
The following wallets are known to be compatible with Ethereum tokens (ERC-20 standard):
- MyEtherWallet (no download needed)
- MetaMask (Firefox and Chrome browser addon)
- Mist (Desktop)
- Parity (Desktop)
- imToken (iPhone)
- imToken (Android)
Please contact us firstname.lastname@example.org if you have updates to the token compatible wallet list.
Do not use the following wallets to participate any token sale. First move your ETH to a compatible wallet in the above list:
Any Bitcoin exchange Any Ethereum exchange Jaxx Exodus Coinbase Poloniex Kraken Bitstamp Bitfinex Bitrexx Cex.io
If you know any other wallets that are known to behave correctly with Ethereum ERC-20 tokens please contact us at email@example.com.
Incorrect gas limit
If you set gas limit value too low your transaction is rejected and automatically refunded. The transaction might not appear in the blockchain explorer.
No data field set
If you forget to set a correct data field vaue for your transaction your transaction is rejected and automatically refunded. The transaction appears in the blockchain explorer with error code like "invalid jump".