If you are here, you have decided to participate in BIM token sale and make an investment into your future. In this article, we are going to guide you through all the details of this process, as well as give you some general tips if it is one of your first times investing into tokens.
What Is A Token Sale?
Token sales are a crowdfunding tool used to build capital by startups or in order to launch a new project. In a token sale, a certain amount of new cryptocurrency created by the organizers is acquired by investors in exchange for other cryptocurrencies (e.g. Ethereum, Bitcoin). Token sales can be also called ICOs (initial coin offerings).
What Is BitImage Token?
BitImage token (BIM) is a token based on the ERC-20 standard and Ethereum blockchain. Thus, this token is guaranteed to work properly in the ecosystem. It can be used in other decentralized programs without any problems. ERC-20 standard ensures the token meets the security requirements that are common in the industry.
BIM Token Presale Overview
- Minimum Purchase Threshold: 0.1 ETH
- Maximum Purchase Threshold: 500 ETH
- Start Of The Presale: April 26, 2018
- End Of The Presale: May 24, 2018
- Soft Cap: 2000 ETH
More information can be found in BitImage White Paper.
How To Participate In BIM Token Presale
During the presale of BIM, 10% of released tokens (1,000,000,000 BIM) will be available to the public for making an investment in exchange for Ethereum. In case there are tokens left unsold by the end of the presale, they will be transferred to the crowdsale.
The presale is going to last for 4 weeks. The amount of bonus is 30%.
4 Steps To Participating In BIM Token Sale
1. Prepare Your Wallet
In case you don’t have an ERC-20 compatible Ethereum wallet, set up one. Pay close attention to its compatibility with the ERC-20 standard. If you have your ETH on an exchange or hosted wallet, transfer it to the wallet of your choice. ERC-20 compatible wallets include but are not limited to MyEtherWallet (no download is needed), Mist (desktop app), Jaxx (mobile application).
Please note: on the day of the sale transactions can take more time than usual, so be patient and make sure you have your ETH ready for transfer in advance.
2. Wait For The Presale Opening
BitImage presale opens on April 26, 2018 at 1PM UTC, and is going to last for 4 weeks — till May 24.
While you await the sale opening, keep your hand on the pulse and check our news to be aware of any changes. Besides, track the exchange rate as it may be changed due to the market fluctuations. You may also want to determine how much you are ready to contribute in advance.
3. Make Your Contribution
Once the presale has opened, transfer the amount of Ethereum you are willing to contribute to our cause to the address shown to you. Our token sale address will be displayed only on our official sources, so don’t trust any unofficial ones that may send you the address.
We have to stress out that in case your transfer ETH from a hosted wallet or an exchange, you will lose your ETH. Use only an ERC-20 compatible wallet mentioned above to make a transaction.
For the sake of an example, let’s take a look at using MyEtherWallet for making a contribution as it is one of the most popular ERC-20 compatible wallets out there.
Please, note: we do not aim to advertise any particular wallets.
If you use MyEtherWallet, click on Send Ether & Tokens section above (Picture 1). Unlock the access to your wallet via the authentication method you have chosen. After that, enter the contribution address that you got from our official sources, the amount of ETH you would like to transfer, generate and send the transaction (Picture 2).
4. Follow The Sale Progress
We recommend you to check our news feed regularly to track the sale progress, especially if you would like to acquire more BIM later on. The presale closes on May 24, 2018. After this date, the crowdsale will be held approximately from June 7 to June 19 but it makes sense to contribute during the presale period since you will be receiving 30% bonus as an early project participant.
4 Tips For Participating In Token Sales
- Pay attention to the exchange rate. Exchange rates can be changed prior to the beginning of the sale due to market fluctuations. Thus, don’t forget to check the exchange rate before acquiring tokens.
- Beware of phishers. As it is often the case, there are those who want to make easy money by fraud out there. Check URLs you are clicking and don’t believe emails sent from addresses that are not familiar to you (even if they look like they are official ones). We strongly recommend you to type in the website address yourself or at least add it to bookmarks. In order to contribute, use the address that is stated on our website. Remember: we won’t ever ask you to transfer ETH directly.
- Read the whitepaper thoroughly. Don’t invest blindly — make sure you are going to invest in the project that has enough potential to increase the tokens’ value in the long run. It is crucial to know that you are contributing to a real project that is not a scam.
- Take a closer look at the team behind the sale. Check their experience, what projects they participated in, their LinkedIn profiles etc. to make sure that they are competent and trustworthy enough for you to invest in their idea.
- Participate during the presale period to receive a good bonus.
Stay tuned for our news to keep your hand on the pulse of the latest updates regarding our token sale. If you have any questions, do not hesitate write a comment below or contact our team in BitImage Telegram group.
