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How To invest in Ethereum Crowdfunds

There are several upcoming Ethereum based crowdfundings – starting with Digix, the Physical Gold <> Blockchain Token provider. Learn how to invest in Contract Based Crowdfunds!

There are 2 more-or-less convenient ways to join and participate.

I’ll start with the newbie friendliest way, and list the Pros and Cons.

Setup

MyEtherWallet.com (Easy)

myetherwallet how to

Click to Enlarge

  1. Visit MyEtherWallet.com
  2. Enter a Password and click “Generate”
  3. IMPORTANT: Download the Wallet File and store it on your PC and USB
  4. Invest via https://www.myetherwallet.com/digix.html

Note: MyEtherWallet does not support Tokens (yet) – you will be able to receive crowdfund Tokens to your Ether Address, but you won’t be able to use them right away. If you don’t mind and you just want an easy way to HODL this is the way for you.

MyEtherWallet is fully compatible with Mist Client (official Wallet) in case you want to use the tokens prior to MEW’s development.
Let me know in the comment section below if you need help

Tip: I’d use MyEtherWallet for small investments, and would wait for them to add Tokens or use a Light Wallet once released.

Pros

  • Super easy to setup

Cons

  • does not support tokens yet
  • 3rd party website
  • early adopters have to download the full client anyways

Mist (the official Wallet) (Technical)

  1. Download latest Mist Version (Click Here)
  2. Start the Wallet and let it sync for some hours (currently 11.4 GB)
  3. Back-Up your Wallet

mist wallet

Pros

  • Secure
  • Works
  • All Features

Cons

  • Desktop Only
  • Full node / takes a lot of time to sync

Invest (example: sale.digix.io)

Online via Mist & MyEtherWallet

  1. Visit the Sales Page (Click Here for Digix)
  2. Copy Ether Address
  3. Send Ether from your Mist Wallet or MyEtherWallet (Need Ether? Buy Here)

that’s it, your address is now recorded and you are going to receive Tokens at the end of the crowdsale

Screenshot_51

MyEtherWallet example Transaction

Example Transaction via MyEtherWallet (Click to Enlarge)

 

Contract via Mist Client

  1. Click “Contracts”
  2. + Watch Contract

Add:

Crowdsale Contract Adr: 0xf0160428a8552ac9bb7e050d90eeade4ddd52843
JSON Interface (Click Here)

3. Click ok

DigixDAO Crowdsale Contract Mist

4. Click on “DIGIXDAO CROWDSALE”

you can now click “Deposit Ether” to invest.

IMPORTANT: DO NOT USE AN EXCHANGE TO INVEST IN. ALWAYS SEND ETHER TO YOUR MIST/MYETHERWALLET FIRST.

Featured Image: Pixabay

Need help? Let me know in the comments below!

  • fav

    Quick update: after generating a wallet via myetherwallet.com you have to visit https://www.myetherwallet.com/digix.html

  • Mr. Gibzeez

    Thanks for the tutorial. I’m a bit confused on one thing though.

    If I send Eth from my Mist wallet to the crowdsale, how will I receive the tokens in the future? Will they just mix with my regular Eth balance? I’m confused about how this works once I send funds their way.

    Thanks for the help!

    • fav

      If I remember correctly, the Tokens will be sent out at the end of the crowdsale to your ether adr. if something goes wrong, you can claim manually > it’s in the contract page in Mist if you got it added under actions (? can’t check atm)

      DGD Tokens guarantee you a portion of the quarterly total tx fees of 0.13% – and the payout currency is DGX (Gold Token) > you have to claim it via Mist (confirmed) – I think digix is adding an option to their webapp too

      • Mr. Gibzeez

        Yup, I added the “watch contract” to my wallet according to your instructions. So now I can see the total amount that’s been raised so far. Can I do anything more than just watch that wallet total?

        What I’m still confused about is the tokens. In the future, when they arrive to my wallet, how will they exist alongside the regular Eth balance that’s already in there? How can that wallet address have 2 different denominations attached to it?

        Again, thanks for your help with this.

        • fav

          yes, the crowdsale did end. you can check how many shares you own see: http://i.imgur.com/s4ex75N.png

          Ethereum is just another Token. Your wallet can deal with anything released on the Ethereum Blockchain! (if it’s not bugged)

          • Mr. Gibzeez

            Ah, ok, so just paste my wallet address into the “User Info” field and it will confirm whether or not I have a balance?

            You rule! Tip for you 🙂

          • fav

            exactly. you have to divide by a big factor though. I think 10000?