Most ICOs to date are actually tokens created on an Ethereum based ERC20 token standard. Ethereum has made it very easy to setup, and create a token with whats called a "smart contract". You don't have to understand how to create tokens but I just wanted to mention it so you understand the very basics of what you may be investing in.
Follow these general steps to purchasing an ICO (initial coin offering):
- Open an account with coinbase.com and purchase a small amount of Ethereum ie. $100
- Open up a new online Ethereum wallet at https://www.myetherwallet.com.
- Send Eth crypto currency to your new myetherwallet address.
- Seek out using a desktop the ICO you wish to purchase and commence your purchase by sending Ethereum crypto from myetherwallet to the target ICO.
Here is a video of a youtuber that made a pretty decent instruction video on using myetherwallet:
Written by: Gerry Barja