The best way to participate in any crypto- currency is participating in coin sale. The major barrier to participation is that most people are not familiar with the process.The text that follow explains how to participate in a coin sale in general, and in particular, Ubricoin sale. We offer these explanations to guide you through acquiring a private wallet and ultimately Ubricoin .
Most coin sales are issued on Ethereum blockchain. Ubricon is built on Ethereum blockchain, with an ERC20 contract. You need to have an Ethereum wallet and some Ethers in your wallet to buy Ubricoin. A word of caution: not all digital wallets support Ethereum so you need to know which wallet to use.
Cryptocurrency wallets are categorized into four types:
- Online or cloud based wallet
- Software on a computer or a mobile device.
- Hardware with an external device
- Printed Paper wallet
Desktop wallets are considered more secure than online wallets and are highly recommended. For that we suggest official Ethereum wallet, Mist.
The following is a list of compatible wallets that accept ERC20 contract with their categories. This list is constantly changing with time.
- MyEtherWallet – online wallet
- Metamask – work with Chrome and Firefox
- Mist – desktop application
- Parity – a desktop application
- ImToken – Android phones and Apple iPhones
- Trust- Android phones
- Safe Wallet- Android phone
List of some of ERC20 incompatible wallet
Bitcoin or any Ethereum exchange
- Coin base
Note: Do not participate in the coin sale from any exchange, such as the ones listed here.
How to open your suitable Ethereum wallet
We recommend MyEtherWallet for an online wallet and Mist for a desktop wallet. You can also try to work with MetaMask which is also easy to work with.
MyEtherWallet is very convenient Ether Wallet which is capable of smart contracts since it an online. It also provides offline and hardware wallet support meaning users can generate wallet keys for variety of Ethereum storage solutions that makes it an all-round solution because you can use it online and offline.
To install MyEtherWallet complete the following steps
- Go to MyEtherWallet.com. You will see several safety reminders. Be sure to read all of them.
- Create a strong password that includes a combination of letters, symbols and numbers and write it down and if possible make several copies and keep them safe. Its good to note that with blockchain you don’t have an option of requesting for a password reset.
- Click on create new account.
- Save your private key. The next step is to download save and store you keystore file, there can never be too much safety in cryptocurrency you don’t want someone stealing your money because the know you Keystore file. Make sure you put it in a very secure location. This is a computer key that also needs to be kept safe. You are encouraged to print it out as a paper wallet.
- Unlock your Wallet. Use your private key or Keystore file to unlock your wallet, Copy and paste the key or upload it to unlock your
- Use your Wallet to buy Ubricoins. Your Wallet is now fully functional. Load your wallet up with some ether. If you already hold some, send them to your public address, it makes it easy to buy ether through coin base.
- Next time you want to access the Wallet go to MyEtherWallet.com click view wallet info and use your key to unlock it. Remember that you will need your private Key to buy coins.
First you have to buy Ether.
How to buy and send Ether
Part one: Through Coinbase
- Press the ‘sign up’ button and fill out your name (make sure this is exactly how it’s written on your photo ID), email and a password.
- Using a credit/debit card on Coinbase means higher fees but offers instant purchasing. Using a bank transfer is cheaper but slower (taking up to a week to get your coins).
- You’ll be asked to confirm your purchase.
- Press the ‘Confirm Buy’ button.
- Click ‘Accounts’ from the top menu, then find your Ethereum wallet listed on the left.
- In the ‘Recipient’ box, paste your personal wallet address we saved earlier when creating the wallet.
- After a few minutes you should now see the Ethereum in your wallet (by refreshing the page).
- In the future you may want to move your Ether. Great news- it’s easy!Press ‘send ether & tokens’, then open your wallet using your keystore file and password or private key. In the ‘To address’ insert the wallet address you’re sending the Ether to.Now write in how many coins you’d like to send (or press ‘send entire balance’ to send them all).You should only need to change the gas limit if you get multiple failed transactions.
Press ‘generate transaction’.