How to participate in the NEXT.Exchange Token Crowdsale — a beginner’s guide
We’ve prepared detailed instructions for anyone not yet comfortable in navigating the cryptocurrency world.
NEXT.Exchange Token Crowdsale goes live on 20 November 2017 and will end on 31 December 2017.
NEXT.exchange Token Crowdsale will go live on 20 November 2017 at 0:00 UTC (more information on our site next.exchange).
We have prepared detailed instructions on how to participate.
PLEASE FOLLOW THE INSTRUCTIONS CAREFULLY SO THAT YOU WILL BE ABLE TO SAFELY PARTICIPATE IN THE NEXT TOKEN CROWDSALE.
To simplify the entire procedure we have divided the process into three phases, each phase is equally important.
Missing a simple step might result in you not being able to participate or in the worst case scenario losing ETH, forever.
Here is a short summary of the most basic rules, please read all of the instructions below:
- ONLY Ethereum (ETH) and Bitcoin (BTC) cryptocurrency will accepted. Please do not send other currencies, Litecoin (LTC), etc, without reading and following the instructions on our site.
- Please do NOT send your ETH directly from exchanges. ONLY use an ERC20 compatible wallet when sending your ETH (such as MyEtherWallet, Mist ETH Wallet or Ethereum Wallet). Other wallets might be used but please MAKE SURE it is ERC20 compatible.
- Carefully FOLLOW the rules, explained in detail below.
- GET READY — on 20 November 2017 our NEXT tokensale will start.
Step №1: Open an ERC20 compatible wallet
The first step in the process to participate in the NEXT Token Crowdsale is to create an ERC20 compatible wallet. Our suggestion is to use MyEtherWallet available at https://www.myetherwallet.com/ (please make sure that your connection is secure and with a valid certificate). Below are detailed instruction on how to open an ERC20 wallet on MyEtherWallet.
If you already have an ERC20 compatible wallet, please go directly to Step №2 below. If you do not have one, please read the instructions below in every detail.
Opening a new wallet on MyEtherWallet:
To open/generate a wallet on MyEtherWallet, please visit https://www.myetherwallet.com/ and choose a strong password (e.g. not less than 15 characters long, consisting of at least one lower case letter, one upper case letter, and one numeric sign).
Smash that “Create New Wallet” button to confirm everything.
Thereafter, you will be requested to download your wallet keystore file. Save the file in a secure location and also make additional copies(USB or similar). Then, choose “I understand. Continue.” to proceed.
Never share your wallet keystore file with other people!!!
The next step is crucial.
The page will reveal to you your Private Key. In case you will forget your password you will can still access your wallet with the Private Key.
Save it in a secure location, and again make a backup copy or two. Make sure that if you store your Private Key in digital form that only you have access to it.
You can also make a paper form backup of your Private Key and store it safely. NEXT strongly recommends using a hardware wallet, such as Trezor.
In order to proceed, choose “Save Your Address” button.
Never share your Private Key with other people!!!
You can now access your wallet by unlocking it with your keystore file and by entering your password.
Choose “Keystore File (UTC / JSON),” and select your wallet file and enter your wallet password. The “Unlock” button should appear.
You will be able to check your wallet balance by choosing “View Wallet Info”. Additionally, you will also be able to see your public account Address, which is used to receive ETH as well as NEXT (and other Tokens).
Generally, you can share your public address with other people to receive ETH and NEXT tokens, but still be cautious.
Step №2: Buy ETH and send ETH to your ERC20 compatible wallet
You will need Ethereum (ETH) in order to participate in the NEXT Token Crowdsale. After the purchase, you will need to send ETH to the ERC20 compatible wallet (from Step 1 above).
If you already have an ERC20 compatible wallet and a sufficient amount of ETH on it, please proceed directly to Step №3 below.
If you do not have it yet, please read the instructions below and every detail.
Please note that cryptocurrencies are in a rather high demand at the moment. It may take some time before your exchange account opening and verification process will be finished. Thus, we suggest to start the account opening and verification procedure ASAP, so that you will be ready for the 20th of November 2017 when the NEXT Token Crowdsale starts.
Below, we will present how the account opening and ETH purchase process looks like on Kraken and Coinbase, two major exchanges.
Procedures on other exchanges may vary from the ones described below; consequently, please follow the exact procedure of your selected exchanges.
IMPORTANT NOTICE: Once you buy ETH on the exchanges below or on any other exchanges. NEVER send ETH from an exchange to the NEXT Crowd-funding Address.
Transfer it to your personal Wallet and send ETH to NEXT Crowd-funding Address from a private wallet ONLY in second step.
A. KRAKEN
A.1 Open a Kraken account
Go to www.kraken.com and enter the required data (e-mail, username and password). Tick the squares, agreeing with their Terms of Service and Privacy Policy (naturally, only if you agree). Then choose the “SIGN UP” button. You will get a verification e-mail, confirm it.
The activation link from the e-mail will bring you back to the main page, where you will have to enter a password (make sure you check the “I am not a robot” square) and thereafter choose the “ACTIVATE ACCOUNT” button.
A.2 Get verified
Before you can buy ETH, you will first need to get verified. Choose the “Get verified” bar and scroll down on the page to where you will be prompted to enter your data and provide additional information — documents.
As soon as you open an account, will automatically be assigned “Tier 0” status. Additional options available are “Tier 1”, “Tier 2” and “Tier 3” (while for Tier 4 — corporate account, you would need to contact the support via e-mail).
Enter the data requested, depending which Tier you would like to achieve. The system will guide you through the process. After you fill in the data Required for Tier 1, choose the “Get verified” button. Once you reach your desired Tier you will have to wait until you get verified (it may take up to several hours or even days, depending on the Tier level you are getting verified for).
In order to make deposits in USD or in EUR you will have to reach Tier 2 (EUR or USD deposits of up to USD 2,000 (daily limit) and USD 10,000 (monthly limit)) or Tier 3 (EUR or USD deposits of up to USD 25,000 (daily limit) and USD 200,000 (monthly limit)).
A.3 Transfer money to your Kraken account
Once your account gets verified (either as Tier 2 or as Tier 3) you can deposit USD or ETH to your Kraken account.
Choose the “Funding” tab and then “Deposit” tab. Now select “Euro (EUR)” (or other currency) in the left column. If depositing from a SEPA region, you must choose the “Fidor Bank AG SEPA” method for a SEPA transfer.
Transfer at least 50 EUROS, include your reference number so that the transfer will be assigned to your Kraken account.
Within a few days or hours, the money should be on your Kraken account.
A.4 Buy ETH
As soon as your funds are credited to your Kraken account, you can buy Ethereum (ETH).
In order to buy ETH, choose the “Trade” tab and then “New Order”. Choose the ETH/EUR (or other if you are buying with something else besides EUR) currency pair to buy ETH with EUR and choose “Buy”. Enter the amount of ETH you want to buy in the “Amount” field.
Choose either “Market” to buy ETH at the current market price or choose “Limit” and enter the fixed price at which you would like to buy ETH.
Choose “Buy ETH with EUR” and double check everything. By choosing “Submit Order” you confirm the purchase of the Ether. Your EUR should be changed to ETH immediately in case you have chosen the “Market” tab.
In case you have selected the “Limit” tab you will have to wait for your offer to match the offers of ETH seller(s).
A.5 Transfer ETH to your ETH Wallet
NEVER TRANSFER ETH TO THE NEXT CROWD-FUNDING ADDRESS FROM AN EXCHANGE. SEND IT TO YOUR PRIVATE WALLET FIRST.
Now you have to send ETH to your private wallet. In order to do that:
a) Choose the “Funding” tab and then select “Withdraw”.
b) Choose Ether on the bottom left side.
c) Choose the “+ Add address” tab. Add a description and your Ether address, enter your private Address (from the ERC20 compatible wallet).
d) Choose the “Save address” tab.
e) You will be sent a confirmation e-mail. Make sure that you check your e-mail and confirm the new address.
f) You will be redirected back to your Kraken account.
g) Choose the “Funding” tab and then choose “Withdraw”.
h) Choose Ether on the bottom left side.
i) Choose the Address that you just created and confirmed from the dropdown.
j) Enter the amount of ETH you would like to send to your private Address.
k) Choose the “Review Withdrawal” Button.
l) Check every detail of the transaction and if all of the data is correct hit the “Confirm Withdrawal” button.
Please wait for the transaction to process. Once the “Initiated” or “Pending” status changes to “Success” your ETH should now be in your private wallet and you can proceed onto Step №3 below.
NEVER TRANSFER ETH TO NEXT CROWD-FUNDING ADDRESS FROM AN EXCHANGE. SEND IT TO YOUR PRIVATE WALLET FIRST.
B. COINBASE
B.1 Open a Coinbase account and get verified
Coinbase is another platform which can ETH (here you can also buy ETH with your credit card). To open an account on Coinbase please visit www.coinbase.com and enter your e-mail, then choose “Get Started” button.
You will be requested to enter your basic data: name details, e-mail, and password (please select a strong password). Do not forget to check the captcha “I am not a robot” square and check the “I am over 18 years old…” square.
The captcha may ask you to solve a picture “picture question”, do it.
You will then be sent a confirmation e-mail, please confirm it.
In the next step you will be asked to choose the account type. Choose “INDIVIDUAL” (unless you are a “BUSINESS” user). Click the “Next” button.
Next, hehe, you will be asked to enter your phone number. Enter it and choose the “Next” button. You will receive a verification code via SMS (this is an additional layer of security, the so called 2FA). Enter the 7 digit number in the provided field and choose the “Verify Phone Number” option.
Now, you will be requested to select an ID type (Passport, Drivers license or Photo ID). Select the preferred option, you will have to provide a photo of the selected ID type (either Webcam or Mobile Camera). Any of the options work equally fine, please follow the detailed instructions thereafter and take an adequate photo of your ID document.
Once the above process is finished, you will be prompted to make a confirmation payment.
Coinbase enables ETH purchases via a credit card or bank account payment. Visit “Settings” > “Payment Methods” to manage your payment methods.
B.2 Buy ETH
After the verification process is over, you can buy ETH with credit card payment bank account.
B.2.i Credit card purchase
To buy ETH with a credit card, go to the “Buy/Sell” tab, select ETH as the currency you wish to buy, and choose your verified credit card as the payment method.
Choose the amount of EUR or ETH you wish to buy and select the “Buy Ethereum Instantly” button. You now have ETH in your Coinbase account.
NEVER TRANSFER ETH TO NEXT CROWD-FUNDING ADDRESS FROM AN EXCHANGE. SEND IT TO YOUR PRIVATE WALLET FIRST.
B.2.ii Bank account purchase
If you decide to buy ETH with a bank account transfer you will first need to make a wire transfer to your local currency wallet on Coinbase. Choose “Accounts” tab and then “EUR Wallet (or “USD Wallet” if you will use USD bank transfer).
You will have to choose the “Deposit” button. You will be provided with bank transfer details and further instructions how to make a deposit — please follow those instructions carefully.
It may take some time before the funds will be credited towards your Coinbase wallet.
Once the funds will be credited, go to the “Buy/Sell” tab. Select ETH as the currency you want to buy, and select EUR/USD wallet as your payment method. Choose the amount of ETH you wish to buy and select the “Buy Ethereum Instantly” button.
Congrats, you now have ETH in your Coinbase account.
NEVER TRANSFER ETH TO NEXT CROWD-FUNDING ADDRESS FROM AN EXCHANGE. SEND IT TO YOUR PRIVATE WALLET FIRST.
B.3 Transfer ETH to your ETH Wallet
NEVER TRANSFER ETH TO NEXT CROWD-FUNDING ADDRESS FROM AN EXCHANGE. SEND IT TO YOUR PRIVATE WALLET FIRST.
Now you have to send ETH to your private wallet. In order to do this, go to “Accounts” dashboard choose the “Send” box in “ETH Wallet”.
A pop up window will appear — paste your public ETH account address in the designated field. Choose the tab “ETH Wallet,” and select the amount of ETH you would like to send. Check that you have entered the correct address and then choose “Continue”.
You will have to check the entered data and confirm the transaction.
After processing and confirmations, ETH should be in your private wallet and you can now proceed to Step №3 below.
NEVER TRANSFER ETH TO NEXT CROWD-FUNDING ADDRESS FROM AN EXCHANGE. SEND IT TO YOUR PRIVATE WALLET FIRST.
Step №3: Participate in the NEXT Token Crowdsale
If you are here at Step 3, this means that you have an ERC20 compatible wallet with sufficient amounts of ETH on it.
You are all set and almost there.
Get ready, on 20th November 2017, visit our website next.exchange and register for an account. After you register, you will get the correct ETH address with all other relevant information.
AGAIN, PLEASE MAKE SURE YOU ARE ACTUALLY USING AN ERC20 COMPATIBLE WALLET TO WHICH ONLY YOU HAVE A PRIVATE KEY AND THAT YOU ARE SENDING ETH AND NOT ANY OTHER CURRENCY.
Sending ETH from MyEtherWallet:
Go to www.myetherwallet.com (make sure you are actually on the correct webpage and not on any other duplicated or scam page) and choose the “Send Ether & Tokens” tab.
First you will need to unlock your wallet: select the “Keystore File (UTC / JSON)” option, choose your locally saved keystore wallet file, enter your password, and choose the “Unlock” button.
After unlocking your wallet please make sure to copy/paste the exact Address provided on our website next.exchange, into the “To Address” field on the “Send Transaction” page. Enter the amount of ETH you want to contribute in the NEXT Token Crowdsale in the “Amount to Send” field. In the “Gas Limit” section we propose you set the limit to 250.000 (this is a small fee required by the Ethereum network to process your transaction, only what is needed will be used).
As per December 6th please raise up the gas price to: 60 GWEI, due to heavy traffic on the blockchain, otherwise the transaction will fail!
Please check again that all of the entered data is correct, in particular, that you have entered the correct Address from our webpage, and that you have entered the correct amount of ETH you wish to send. Double check it.
If all data is correctly entered, select the “Generate Transaction” button to generate the transaction code.
Confirm the code by choosing the “Send Transaction” button that appears below the “Raw Transaction” and “Signed Transaction” fields.
Your transaction is now underway and needs to be processed/confirmed. After the transaction is confirmed, you will get the NEXT Tokens into your wallet. Now you are a part of the NEXT.exchange Ecosystem!
Need more details? Check out the NEXT.exchange site or read the NEXT.exchange Whitepaper. And come chat with us on Telegram!
Adapted with permission from https://medium.com/sportyfi/how-to-participate-in-the-sportyfi-token-crowdsale-a-beginners-guide-d99587f70598
