Coinlist is one of the unique exchanges that do unique, high-quality ICOs on their platform. We have seen Flow, Solana, Mina, Casper, Gods Unchained, Immutable X, Covalent, and so many high-quality projects only on here. This article will show you how you can participate in token sales on Coinlist.
What is Coinlist?
Coinlist is a cryptocurrency exchange known for organizing good-quality ICO sales. It complies with all applicable laws and regulations in each jurisdiction in which it operates. Hence, you have to complete the KYC to participate in token sales or use its exchange, and you must not be from these jurisdictions/countries to participate in sales.
How Coinlist Token Sales Work?
As the number of participants increases day by day, the coinlist has chosen a unique methodology to organize the token sales. As the projects came for funds like $100k – $500k and the number of participants is like 10k-1m, the Coinlist created a randomized queue. They ask their users to come at a certain time, and then they randomly give the users queue number from 1-100k(or max number of people participating).
Now, the users are given a chance to buy tokens one by one as per the queue numbers. As minimum and maximum allocations are already defined, the Coinlist already mentions to their users that approximately only this certain number of users will actually buy tokens in a sale.
For example, this is David, who wants to buy token X from Coinlist. He first needs to register his interest in the token sale, and then at the time of the sale, he will be given a random queue number. Assume that 100k people are participating in token sales. So, David can get a random number between 1-100k.
Case I – David got queue number 2022, and it is expected that around the first 8k will get an allocation. Then, in this case, David will get a chance to buy some tokens.
Case II – David got a queue number of more than 8k, let’s say 18,158. Now, it is expected that only 10,000 will get the allocation, and it is highly expected that David will not get the chance to buy the tokens.
So, this is just like a lottery system, which is fairest and more transparent to all users.
To higher your chance to receive an allocation on Coinlist Token Sales, you can earn Coinlist Karma Points – known as Loyalty Points. You need to do certain tasks provided by the coinlist team, such as using the Coinlist Pro trading platform, using the Coinlist mobile app, trading and staking tokens, etc.
How To Participate in Coinlist Token sales – Step by Step
Create an Coinlist Account
Firstly, you need to register an account on http://coinlist.co if you don’t have one yet.
Then you will see a creating account section.
After registration, you need to go through the KYC process and passport verification.
Then, after going through the registration and KYC, you would need to register for participation in “Token Sales.”
Take part in “PROJECT GALAXY” TOKEN SALE
I will take “Project Galaxy” token sales as an example.
To do that, go to the Token Sales section, choose “Project Galaxy,” scroll down a bit, and press Register Now.
Depending on the institution of different projects, they offer sale options with different purchase prices and vesting schedules. However, you can always take part in all the options that a specific project has. In this case, the Project Galaxy has only one sale option that you can register.
And now, press Get Started.
Then, choose your name and Press Continue with…
Choose your country, check the box and Continue. Make sure that your country is eligible for this Sale Option.
And here is a small gift from Coincu team for you who participated in the Project Galaxy token sales.
Yes, it is all the answer for this Token Sales. We wish you luck!
And now, you have successfully registered in this Token Sales. You will receive a confirmation mail from Coinlist shortly after.
Later, closer to the TokenSale date, we need to prepare our money for the purchase. You can purchase with BTC, ALGO, SOL, ETH, USDC, USDT.
My advice is to buy with ALGO to avoid horrible gas fees on other blockchains. When buying for BTC or ETH, you will have to pay a zero point five percent commission for the conversion.
To top up your balance and prepare it for the Token Sale, press Wallet, select the ALGO, and press Deposit. You can purchase ALGO from centralized exchanges and deposit it to your Coinlist wallet.
Project Galaxy sale period will be started at 6 PM UTC, 17/02/2022, and end at 11.59 PM UTC, 24/02/2022.
Remember to show up on the queue at least 15 minutes before the sales start to avoid your own technical issues.
Please note that the Token Sale is carried out on a live-queue rule, and since there is a limited amount of tokens, and many people are willing to buy, we advise you not to hesitate with the purchase; but to make it immediately after the sale starts!
After the Pre-Sale, CoinList will distribute the tokens to the buyers’ wallets. This may not happen immediately, but after a certain period of time, for example, in a few months.
Find more information about Coinlist:
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.