How To Participate in a Token Swap
The first requirement to participate in an TOKEN SWAP event is the ownership of cryptocurrencies. Start by register-ing an account on a digital currency exchange. The next step is to load fiat currency such as USD, EUR, or Yen, in your account, and purchase the desired cryptocurrency, Ethereum (ETH). After the purchase, you can store your digital currency in a web wallet or choose a hardware cryptocurrency wallet.
At the time of an TOKEN SWAP, start by carefully understanding the TOKEN SWAP agreement, which includes the details such as target price per coin, timeline, and other rules governing the transaction. Every company recommends specific wallets for the transaction, so go ahead and download the wallet. The norm is for TOKEN SWAP projects to provide a receiving wallet address on the TOKEN SWAP web page that people can send their contributions to. Investors are encouraged to send any amount they are comfortable with provided it corresponds with the price per project token. The project team then in-turn delivers corresponding token amounts to the investor’s wallet. The tokens can be stored on web, mobile, or hardware cryptocurrency wallet.
The key takeaway is to understand the offerings up front and read the industry outlook of every project before investing.
Find out the risks and benefits of the project, and do due diligence before investing any amount of money.