Are you confused about the new term IDO in the crypto world?
Want to know how you can make money from IDO?
You have come to the right place. In this article, I’ll discuss IDO and how to participate.
Let’s get started.
Table of Contents
What is IDO?
IDO is Initial Dex Offering in which Dex represents decentralized exchange.
IDO is fundraising in which companies come up with an idea and want money to grow their company, so they raise funds from users and give them tokens. This is like an initial public offering.
Not all the user gets these tokens, which happens like initial public offering where only whitelist people will get.
You have to manually do some tasks to get whitelisted to enter in IDO.
Unlike ICO, there is a dex platform where you can apply.
But first, let’s see how you can apply.
How to participate in IDO?
I will show you a step-by-step guide to participate in IDO which will give you 2x-20x within a week.
There is an IDO trend going on crypto; participating in IDO is effortless.
There is multiple IDO platform from where you can apply.
Here is the Best Initial Dex Offering IDO Crypto Platform
These are the platforms for IDO which you can apply.
For all the platforms are the same process so i will show you how to participate with Polkastarter IDO.
Step to apply for an IDO using the Polkastarter crypto platform.
1. For every IDO, there is a whitelisting process where you have to do some tasks and put your MetaMask Ethereum Eth address and fill the form.
2. If you don’t know about MetaMask and how to create a MetaMask wallet: Click here to Know about MetaMask wallet.
3. After submitting a MetaMask wallet address, they will randomly select 500-700 addresses that work on your luck. They will send an email if you are participating in the whitelist process.
4. If you are selected then, there will be two types of sales: public and another is pols. You don’t have to hold any token for the public, but in pols, you have to keep pols’ tokens.
5. You can get a POLS token in the gate.io crypto exchange. You have to hold 4000 pols tokens to participate.
6. In the public sale, you must have been selected in the whitelist.
7. After installing and creating MetaMask Wallet, go to the IDO platform. On top, there will be a “connect wallet” button, click on it, and it will connect you with the MetaMask Wallets.
8. On the date of sale, click on Join Pool as shown above image.
9. It would help if you had some Ethereum in MetaMask wallet so you can swap the token.
10. After this MetaMask pop-up comes, there will be gas fess shown, and you have to confirm it.
11. After 2-3 hrs, you can claim the token.
12. Click on claim token, then MetaMask pop up will come to confirm it.
13. After this, you can see your token balance in UNISWAP, and there you can swap the token with Ethereum. So your 0.4 Ethereum becomes 1.2 Ethereum which is a 3x gain in just one week.
That was to process for entering in an IDO.
How to connect MetaMask to IDO Platform
- Create MetaMask Wallet.
- Go to any IDO platform.
- On top, there will be a “connect wallet” button; click on that.
Now you are connecting the MetaMask wallet to the IDO Platform.
IDO Crypto List
- BSCPad – 7 Projects
- Polkastarter – 41 Projects
- Dao Maker – 51 Projects
- Ignition paid network – 8 Projects
- KickPad – 3 Projects
- ZeeDo – 6 Projects
- Poolz – 17 Projects
Past IDO which has given good return
All the projects have given good returns in this bitcoin bull run.
Here are some projects which have given returns of almost 5x-30x.
As you can see, Orion protocol has given 280x return in just a month.
OpenPredict had given 125x returns.
It shows everyone is making money in IDO. But be careful this bull run will end as the ICO craze ended in 2017.
A lot of people lose their money because giant whales start dropping their funds in the market.
So supply increases, and we see a price drop in all the tokens.
Before participating in any IDO, you have to do your diligence and risk management.
How to launch IDO?
- Come up with an idea.
- Create tokens and build projects.
- Contact IDO platform for token sales.
- Select a date and form a whitelist process.
- Select an amount for token sales.
- Launch an IDO.
Pros and cons of IDO
Pros of IDO are
- Easy Fundraising.
- Quick Liquidity.
- Trading Fast
Cons of IDO are
- Decentralized exchanges.
- Large hold of whales.
- Limited people buy the token.
- No KYC is needed.
- Risk of fraud.
Difference between IDO, ICO & IEO
| IDO | ICO | IEO |
|---|---|---|
Full from of IDO is Initial Dex Offering. | Full from of ICO is Initial Coin Offering. | Full from of IDO is Initial Exchange Offering. |
IDO is fully decentralized | ICO are centralized | ICO and IEO are centralized |
IDO token sales are only for some users | As compared to IDO, more users get token sales | As compared to IDO, more users get token sales |
The decentralized exchange provides IDO | No one guarantees ICO | IEO provided by an exchange |
FAQ
IDO is an initial dex offering that helps crypto projects to raise funds from the user.
- Go to any exchange.
- Buy Ethereum.
- There will make a withdrawal option, put MetaMask eth wallet address.
- Click on send. It takes 15 mins to transfer.
- Check the token on the MetaMask website.
In CoinMarketCap, you will get all the IDO details and all the upcoming IDO.
