Pre-sales ICO Token: What is it? How does it work?

Since its creation in 2014, ICOs (Initial Coin Offering) has become a popular way to generate funds for cryptocurrency projects and blockchain start-ups. They serve to fuel and sustain the start-up network through the generations of funds when ICOs are sold. Usually, ICOs are sold on a specific launch date. But, nowadays, the ICOs are also starting to launch in the presale phase too. Also known as Pre-sale ICO token.

In this article, you will learn about these pre-sales ICO, what they are and how they work so you can participate in these events too without a problem. 

What’s a pre-sales ICO?

Pre-sales ICO, also known as ICO presale and Pre-ICO, is an event created by a blockchain start-up to sell a token before the crowd sale begins. In other words, before the ICO has become available to the general public. The fundraising targets for this type of sale are usually lower and the price of the tokens is also cheaper. 

New ways of financing

The pre-sales ICO serves to raise money for the projects of the start-ups. Often, it is used for funding the launch of the main event. As mentioned before, using a Pre-ICO means that the companies cannot generate large amounts of funds, but it is a great opportunity for them to head up the tokens they are trying to sell. 

Also, the Pre-ICO usually uses separate smart contracts from the main ICO event to separate the funds generated between the two. 

Support your favorite project

It is a great way to support a project you feel has the potential to succeed and you feel connected. Also, the investors that participate in these pre-sales ICO not only receive cheaper prices per coin but, can also receive extra compensations and bonuses. For instance, a bonus card, and free access, among others. 


How do pre-sales ICO token sales work?

There are some steps and considerations you must follow in order to get your pre-ICO tokens. These are the following:

  • You must have cryptocurrencies

To join the ICO Token pre-sales you will need crypto, usually Ether (ETH) or bitcoin (BTC). You must consider that fiat currency cannot be used to participate. Therefore, you will need to purchase some crypto using online exchanges. You can do this by transferring money from your bank account into a cryptocurrency exchange account. This way, your crypto can be sent to a crypto wallet offered by the exchange you made the registration with.

  • Set up your crypto wallet

You will need to set up your crypto wallet. Search for the preferred wallet the start-up asks you to use for the ICO as not every wallet is suitable for it. If the company has not defined any, it is prudent to use MetaMask as it is user-friendly and is widely accepted for the Ethereum network. 

  • Register on the project website

Head up to the project website you would like to be part of and enter all the data required for signing up. Once you complete this step, you can activate your account and start using the platform. You can also add or edit your profile information and upload any documentation such as a passport or national ID to complete registration if it is needed.

  • Buy your pre-sales ICO Token

Before making any purchase, it is vital to read through all the terms and conditions of the ICO and the token purchase agreement. Usually, start-ups offer step-by-step guides on how to buy their pre-ICO tokens. Read them carefully. Also, it is recommended to follow the company on social media and be up-to-date with all the news surrounding the ICO. 

In Games for a Living we have our own native token $GFAL to fuel our Game. Get all the information you need and sign up to register for the presale of $GFAL.