An ‘Initial Coin Offering (ICO)’ is the term used to refer to the first public access to a new cryptocurrency token. It is a play on ‘Initial Public Offering,’ which refers to the first time a company lists its shares on the stock exchange.
ICOs allow people to invest in a company at the level of protocol rather than business. This means that rather than contributing money to a company you think will thrive, you are purchasing a share of the platform they are building, which will increase in value should the platform be adopted by more people. Further, ICOs prove to be an effective fundraising and marketing channel for the development team to realise their vision.
The SURETY.AI platform will have its own cryptocurrency: the SURE Token. SURE is due to be listed on exchanges soon, but the pre-sale is already underway. Contributing to this pre-sale will mean earlier access to our token, as well as bonus tokens (depending on how much you contribute). Once whitelisted, here’s how you can participate and show your support!
Step 1. Create an Ethereum Wallet
Our token is based on Ethereum, a blockchain system that has its own coin, Ether (ETH). In order to purchase SURE tokens, you will need to create a secure Ethereum wallet. There are a range of services that allow you to create a crypto wallet easily and securely, but not all are guaranteed to work for our ICO.
Below are some recommended sites that will work for the SURETY.AI ICO:
● Ethereum Mist Wallet,
● Ethereum’s online wallet
Any of these is appropriate, but we recommend MyEtherWallet (MEW). Now we will walk through the process.
When the website loads, there will be a few warnings that can be read through or skipped. Once these formalities are out of the way, you will see a prompt to ‘Create New Wallet’ by keying in a password. Select a strong password that you will not forget — perhaps write it down somewhere safe. Then click ‘Create New Wallet’ to proceed to the following screen.
Make sure you save your Keystore File. This is a vital security measure. For increased safety we highly recommend that you back it up on a USB drive (Note: cloud backup may be risky, physical is always safer). Once the file is downloaded, move forward to the Private Key generation.
You will be given a private key that can be used to access your wallet. This is a long string of numbers, and is not recoverable if lost! So, it’s a great idea to write it down somewhere or click ‘Print Paper Wallet’ to have a physical copy of your key. Again, once you progress beyond this page, if you do not have your key saved, it will be gone forever. It’s a good idea to copy the key to your clipboard for now, as you will need it on the next page. To move forward, click ‘Save Your Address.’
This is the final page before being presented with your Ethereum Wallet address. Simply select the ‘Private Key’ access option and paste the key from the previous page into the box and click ‘Unlock.’ (Note: you will notice that there are many options for accessing your wallet on this page. Some are more secure, but this tutorial will focus on the simplest. Feel free to investigate the others and see what works best for you!)
Voilà! Your wallet is ready and you have your own address. For future access, simply return to the MEW homepage and click ‘View Wallet Info,’ then insert your private key.
Step 2: Purchasing Ether
In order to purchase SURE tokens, you will need Ether (ETH), the cryptocurrency associated with the Ethereum blockchain.
Purchasing Ether can be done quite easily on many exchanges. You may have heard of Bittrex or Coinbase, other exchanges that offer Ether include CEX.IO, Kraken, and Bitfinex. Most of these exchanges allow the conversion of fiat currency to Ether, but for some you may have to purchase Bitcoin first. Also, when deciding which exchange you will use, understand that the exchange rates vary from exchange to exchange, and you should take this into account by studying the markets before buying.
Whichever exchange you choose, be sure to specify that your currency be sent to your MEW. This is usually a straightforward process that occurs when purchasing any crypto token.
Now your wallet will have Ether in it to be used for the ICO.
Step 3: Purchasing SURE tokens with Ether
Now that you have Ether, follow the link in the email that you received after the completion of the Know Your Customer (KYC) process — click here if you are yet to complete KYC.
Clicking this link will take you to a new page where you will be prompted to read through and sign our Terms of Token Sale and Use. Once you sign and continue, you will be informed of the bonuses you can receive based on how much you are willing to donate. For example, donating 10 ETH would give a 2% bonus in the SURE tokens you receive, while donating 500 ETH would add 35% in bonus tokens to your purchase.
When you proceed you will see this page.
This page allows you to purchase SURE with Ether, Bitcoin, or good old-fashioned bank transfer. In this case, we will use our newly purchased Ether to contribute.
Simply copy the address provided above to your clipboard, and go to the ‘Send Ether and Tokens’ menu of MEW. Paste the address into the correct box, and key in the amount you wish to contribute.
The Gas limit refers to the way the Ethereum chain processes transactions. Higher Gas results in faster transactions, but also means there is a greater fee taken from your wallet. If you set your Gas limit too low however, the transaction may fail. Altering your Gas Price in MEW will determine how much extra you spend and how fast your transaction will be. This is done in the upper right-hand portion of the screen. Between 50–60 Gwei is commonly accepted as a good balance between price and speed. In this case I have selected 55 Gwei.
Once you set your Gas price and key in the destination wallet address and your desired contribution, click Generate Transaction, then Send Transaction.
Once the transaction is complete, go back to the purchase page and upload an image as proof of transaction. Then click ‘Save and Continue.’
Now that you have made your Ether contribution, you will receive the equivalent amount in SURE tokens before its public listing on exchanges late this year or early 2019.
For details on our timeline, check out the Whitepaper.
We greatly appreciate your contribution and remind you that you have helped a great team achieve something that will help millions of unbanked and uninsured throughout Asia and eventually the world.
SURETY.AI is a blockchain based artificial intelligence (A.I) platform for insurance companies developed by Hearti Lab Pte Ltd (Hearti).
SURETY.AI allows insurance companies to connect effectively with their customers by offering micro-insurances, on-demand and at affordable prices, to Asia’s fast growing economies through Decentralised Enterprise Insurance Network.
As insurances are closely tied to healthcare, where healthcare services such as medical check records are often used for underwriting and preventive measures, Hearti is also working with Healthcare partners to integrate their services and data into SURETY.AI.
Find out more about SURETY.AI through this short and informative video! ????
Telegram Group: https://t.me/suretyai
Support Email: firstname.lastname@example.orgICO 101: Step by Step Guide to Participate in our Initial Coin Offering (ICO). was originally published in Hearti on Medium, where people are continuing the conversation by highlighting and responding to this story.