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How to Buy ICO Tokens for Beginners in 2024

Kane Pepi
Last updated: | 16 min read
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
how to buy ICOs

Initial coin offerings (ICO) provide access to brand-new crypto projects, usually at a discounted price for early investors. In this beginner’s guide, we explain how to buy ICO tokens. Read on to discover where to buy ICO tokens and which crypto startups are worth watching.

How to Buy ICO Tokens — Quick Guide

Let’s start with a quick walkthrough of how to buy ICO tokens:

  • Step 1: Decide which ICO tokens to buy – First, lots of research needs to be done on which ICO tokens to purchase. Read the chosen project’s whitepaper and look into its roadmap and tokenomics.
  • Step 2: Set up a crypto wallet – After choosing a suitable ICO project, download a crypto wallet. This is required to invest in ICOs. MetaMask is a popular option for beginners.
  • Step 3: Obtain crypto tokens that the ICO supports – The next step is to obtain a crypto token that the ICO supports.
  • Step 4: Buy and claim ICO tokens – Finally, visit the website and connect the MetaMask wallet. Then, choose how many tokens to buy and confirm the investment. The tokens will then be deducted from MetaMask.

Read on for a detailed explanation of how to invest in ICO tokens.

  • Play-to-earn meme coin, transforming the iconic Doge meme into a Tamagotchi-style virtual pet.
  • P2E meme utility tokens looking bullish for summer - get in on this 40-stage presale early for biggest returns.
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May 2024
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Meme, P2E
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  • Infinitely upgradeable AI meme coin, with modular technological capabilities.
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Meta
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  • Brand new South Park-inspired seal-themed SOL meme coin
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Project Launched
May 2024
Meta
Meme
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  • Solana
    Solana
  • New base meme coin that offers multi-chain purchases, staking rewards and share to earn functionality.
  • Combines the popularity of base with the appeal of dog meme coins that are dominating the crypto market.
  • Points from sharing Base Dawgz content can be redeemed for $DAWGZ tokens once the presale is complete.
Project Launched
June 2024
Meta
Meme, Share-to-Earn
Purchase Methods
  • usdt
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  • Solana
    Solana
  • First of its kind daily rewards based on the performance of Mega Dice Casino
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Project Launched
April 2024
Meta
GambleFi
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  • Solana
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  • Learn-to-Earn platform that rewards users for learning about crypto
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Project Launched
April 2024
Meta
Learn-to-Earn
Purchase Methods
  • ETH
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  • +1 more
  • Trending meme coin with P2E utility & staking rewards
  • Price up 10x in past month, rumors of Binance listing
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Project Launched
December 2023
Meta
Meme, P2E
Purchase Methods
  • Bank Card
    Bank Card
  • usdt
    usdt
  • ETH
    ETH
  • Sustainable new transportation revolution project with green $TUK tokens powering its AI-driven project.
  • Buy and stake $TUK tokens to earn passive 83% annual rewards. Presale has raised $3.3M so far.
  • Features a play-to-earn game allowing users to gather rewards while driving virtual eTukTuks around cities.
Project Launched
2023
Meta
AI
Purchase Methods
  • bnb
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  • usdt
    usdt
  • Bank Card
    Bank Card
  • The Pepe meme gets its own Ethereum Layer-2 chain
  • Stake $PEPU to earn double the staking rewards through Layer-2 technology
  • Pepe Unchained aims to replicate the success of Pepe but with its own ecosystem
Project Launched
June 2024
Purchase Methods
  • ETH
    ETH
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  • usdt
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  • Bank Card
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  • +1 more
  • Looking to disrupt the DOGE-dominated meme space, $KAI is a AI-based meme coin with 10x potential
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  • Fully audited by Coinsult, the presale has raised over $170k already
Project Launched
May 2024
Purchase Methods
  • bnb
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    ETH
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March 2024
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  • New meme coin offering an immersive experience via high-stakes battles
  • Participants can buy and stake $SHIBASHOOT tokens for rewards in excess of 25,000% p/a
  • Token holders can cast votes on key project decisions and try their luck in the 'Lucky Lasso Lotteries'
Project Launched
April 2024
Purchase Methods
  • ETH
    ETH
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  • bnb
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  • New token that aims to revolutionise how digital currencies are used in everyday commerce.
  • $SPY tokens to list on major centralised exchanges, including the MEXC Global exchange.
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Project Launched
May 2024
Meta
eCommerce
Purchase Methods
  • bnb
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  • Bank Card
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  • ETH
    ETH
  • AVAX
    AVAX
  • BASE
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  • MATIC
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  • Meme coin celebrating iconic boxing legends such as Muhammad Ali
  • First smart meme with powerful features in collaboration with a celebrity, including Web3 retro boxing game, webtoon, and AI platform.
  • Plans to be listed on a major CEX exchange, expected to have an ROI of between 10x and 20x
Project Launched
June 2024
Meta
Meme, P2E
Purchase Methods
  • usdt
    usdt
  • ETH
    ETH
  • bnb
    bnb

How to Buy ICO Tokens — Step-by-Step Tutorial

Now let’s dive into a more comprehensive tutorial on how to buy ICO tokens. In this guide, we used the PlayDoge ICO (now closed) as an example.

Step 1: Download and Install MetaMask Wallet

To begin with, ICO investors will need a crypto wallet. This is a core requirement when learning how to buy ICO crypto tokens, not only in terms of storage but transferring tokens to the ICO website to purchase them. There are hundreds of crypto wallets, but MetaMask is a great option for newbies. MetaMask comes as a browser extension for Chrome, Edge, and Firefox. Prefer investing on a smartphone device? MetaMask also comes as an app for Android and iOS.

metamask crypto wallet download page Download MetaMask and set up a new wallet. Choose a password and take note of the 12-word backup passphrase, writing both down on paper and securing it somewhere safe.

Step 2: Buy a Crypto Token Supported by the ICO

ICOs enable investors to buy their new cryptocurrency with an established token. In the case of PlayDoge, the ICO accepts Ethereum, BNB and USDT. Those that are completely new to crypto will need to purchase one of these tokens to invest in the PlayDoge ICO.

Step 3: Transfer Tokens to MetaMask

Now that Ethereum or Tether has been purchased, the tokens need to be transferred to Metamask. So, open the Metamask wallet and click on ‘Assets’. Towards the top of the interface, the wallet address is displayed beneath ‘Account 1’. Copy the wallet address. The tokens can then be transferred to the wallet, with the transaction usually taking 1-2 minutes to process.

Step 4: Connect Wallet and Confirm ICO Order

The next step is to visit the PlayDoge website and click the ‘Connect Wallet’ button and then MetaMask and sign onto the presale site by entering your password and confirming the connection. The order box for the ICO is on the right-hand side of the homepage. Choose your preferred payment currency, then type in a figure to invest or the number of $PLAY tokens to purchase – and confirm the transaction.

Step 5: Claim Tokens

The final step of an ICO is to claim tokens when the presale is complete and transfer them into your wallet. Generally, near the end of an ICO the project will announce to investors a claiming date and time, with tokens to be held securely on the website until the token generation event (TGE). To claim, investors return to the website at the correct time, select claim at which point that can be transferred across the Ethereum network – for example to an exchange to sell.

What Are ICO Tokens?

Before cryptocurrencies are listed on exchanges, they usually go through an initial coin offering (ICO). In simple terms, this enables investors to buy the startup’s new cryptocurrency token before it is sold to the public.

Crypto ICOs are a win-win situation for both investors and blockchain startups.

  • For crypto startups, this enables the project to raise capital from investors to help fund their operations.
  • For crypto investors, this enables them to buy the ICO tokens at a discounted price – as an incentive to invest early.

Upcoming ICOs are very similar to initial public offerings (IPOs). For instance, those that invested in the Tesla IPO in 2010 received shares at a preferential price. The Tesla shares were listed on the NASDAQ exchange after the IPO and have since gone on to generate significant gains. This is much the same as how ICO works. For example, those investing in the Ethereum ICO in 2014 would have paid just $0.31 per token. Since then, Ethereum has hit highs of nearly $5,000. This translates into gains of over 1.5 million per cent. As we unravel in more detail later on, Ethereum isn’t the only ICO token that has generated huge returns for early investors. On the contrary, there are plenty of other success stories.

Are ICO Tokens the Same as Other Cryptocurrencies?

There are many terms used in the cryptocurrency investment space, and some are used interchangeably. For example, ICO tokens refer to newly launched cryptocurrencies that are in their fundraising stage. As such, ICO tokens are also referred to as cryptocurrencies.

  • Both ICO tokens and cryptocurrencies are backed by blockchain technology.
  • For example, XRP is backed by the Ripple blockchain.
  • Some cryptocurrencies have their own native blockchain.
  • In this instance, the cryptocurrency is defined as a ‘coin’.
  • Bitcoin, Cardano, Litecoin, and many others have their own blockchain.

In other cases, cryptocurrencies will build their ecosystem on a legacy network. For example, thousands of cryptocurrencies operate on the Ethereum blockchain, and these are known as ERC-20 tokens. Ethereum ICOs are some of the most popular around. With so many new projects launching throughout the year it’s no wonder that many of the top crypto traders are on constant lookout for the best BSC ICOs in 2024. There are also thousands of cryptocurrencies listed on the Binance Smart Chain, and these are known as BSC tokens. In other words, if a cryptocurrency is built on a legacy blockchain, they are referred to as ‘tokens’ rather than ‘coins. This is the case with the vast majority of ICO cryptocurrencies.

Why Invest in ICO Tokens?

Below, we discuss some of the reasons why seasoned investors are constantly searching for the best crypto ICOs.

Discounted Entry Price

Crypto ICOs typically incentive investors with an attractive entry price. This means that the investor will buy the ICO token before it is listed on a crypto exchange. Once again this is similar to IPOs, as the shares will be sold at a discount before they hit a stock exchange.

Small Market Capitalization

Crypto ICOs generally seek to raise a modest amount of capital. At least when compared to IPOs. After all, the top 100 cryptocurrencies by market capitalization currently range from $774 million to over $1.2 trillion. This means that ICO tokens can offer early investors a huge upside potential. While it can take time to see sizable gains, long-term investors often see the best investment results. That said, Shiba Inu, which was launched in mid-2020 – took just one year to become a billion-dollar cryptocurrency. This is also the case with other ICO tokens that were able to create hype and FOMO (Fear of Missing Out).

Invest in New Ideas and Concepts

The Ethereum ICO was hugely popular with investors, largely because of its ‘smart contract’ concept. This took blockchain and cryptocurrencies to the next level, with previous networks focusing exclusively on payments. This is the case with many ICOs, which offer solutions to real-world problems. Crucially, the best ICO tokens are those that bring a new idea or concept to the market. This gives the token the best chance possible of going mainstream and generating attractive returns for early investors.

Easy to Diversify

Crypto ICOs are increasingly becoming popular with new blockchain startups. This means there are plenty of opportunities for investors seeking above-average returns. However, ICOs are also risky, considering they are backed by new and unproven concepts. That said, investors can consider diversifying into lots of different ICO tokens to help reduce the risk. This means that instead of investing $1,000 into one ICO, the funds could be split across 10 different projects at $100 each. In doing so, only one of the ICO tokens purchased needs to go mainstream for the investor to witness sizable growth.

What Are the Top Tokens to Buy Now?

New ICO tokens enter the market on almost a daily basis. This makes it challenging to assess the best crypto to buy. Below, we discuss some of the best emerging cryptocurrencies currently available at ICO prices.

1. PlayDoge

One of the top ICOs to invest in 2024 is PlayDoge ($PLAY). PlayDoge is our top pick as it offers in-game rewards through a play-to-earn gaming mode, as well as huge staking benefits.

This is a play-to-earn mobile-based game where players can access Doge as a virtual pet. Players must feed, train, and battle with their pet Doge in this gaming mode to start collecting rewards.

playdoge token presale

For instance, you can leverage your pet Doge within mini-games and earn $PLAY as an in-game reward. $PLAY can be directly purchased through the ongoing ICO, which will consist of 40 rounds. At press time, $PLAY is priced at $0.00507 per token. However, the price will increase to $0.00539 by the final round.

This new ICO is also promising high staking rewards to early investors. Currently, one can stake $PLAY and generate an APY (Annual percentage yield) of up to 238%. As more tokens are staked, the APY will reduce. 6% of the total 9.4 billion token supply will be distributed as staking rewards.

50% of the supply is being allocated through the ongoing presale – which has raised $4.2 million in two weeks. To learn more about this meme token, join the PlayDoge Telegram channel and follow PlayDoge on X (Formerly Twitter).

Visit PlayDoge

2. WienerAI

The WienerAI ($WAI) cryptocurrency leverages artificial intelligence to create a cryptocurrency trading bot. $WAI, the native token, has raised more than $5 million since its ICO launched a few months ago.

In the future, WienerAI will launch its AI-powered trading bot. This bot will use AI protocols such as predictive analysis to track real-time price movements of various cryptocurrencies. The goal is to offer trading signals and insights to platform members.

wienerai token presale

WienerAI will also study the historical prices of different digital assets, hoping to make an accurate price prediction. The bot will be beginner-friendly and offer instant trading signals. Thus, traders can stay ahead of the volatile crypto markets.

On WienerAI, token holders can stake their holdings to generate a high APY (Annual percentage yield). At the time of writing, you can earn an APY of 200% by locking $WAI tokens on the smart contract.

From a total supply of 69 billion tokens, 20.7 billion are being allocated for the ICO. At press time, $WAI is priced at $0.000718 per token. Learn more about this cryptocurrency by going through the WienerAI whitepaper and joining the Telegram channel.

Visit WienerAI

3. Sealana

The next cryptocurrency ICO on our list is Sealana ($SEAL). This new meme cryptocurrency’s central avatar features an overweight and lazy seal that starts trading cryptos in hopes of moving out of his mom’s basement.

The image was inspired by the World of Warcraft Guy, a popular character from the South Park TV show. Sealana wants to build a community of bold and risk-taking investors seeking huge gains in the crypto space.

The $SEAL token is built on Solana, one of the biggest blockchains in the world. It takes the edge over Ethereum and other networks due to its fast transaction speeds, high throughput, and low gas fees.

sealana presale site

Furthermore, Sealana’s ICO has launched at a time when SOL-based meme coins have been in huge demand. Recently, tokens such as Popcat and Solama have offered huge returns. This has helped kickstart the $SEAL ICO, which has raised more than $4 million in only a couple of months.

Currently, $SEAL is priced at just $0.022 per token. Learn more about this cryptocurrency by joining the Sealana Telegram channel and following Sealana on X (Formerly Twitter).

Visit Sealana

4. Base Dawgz

Base Dawgz ($DAWGZ) could be an excellent ICO for beginners. That’s because it’s in a presale phase with a slowly increasing price every few days – and because it’s available on multiple blockchains.

Investors on Solana, Base, Ethereum, Binance, and Avalanche get to buy the $DAWGZ token seamlessly and store it in their wallets once the presale ends. Given how strong meme coin communities are on some of these blockchains, $DAWGZ has a massive potential to do 100x post-launch.

base dawgz presale

Base Dawgz uses two rewarding mechanics to grow its community: share-to-earn and refer-to-earn. The first is designed to reward active community members who connect their X account and frequently share $DAWGZ memes and related content.

The second is designed to reward users who refer other investors. This way, they earn 10% in USDT of the amount invested. This alone could be what pushes this ICO beyond $10 million in the next couple of months.

Read the Base Dawgz whitepaper to learn more about this exciting new ICO. Follow Base Dawgz on X if you’re keen to earn points by sharing memes or if you want to stay up to date.

Visit Base Dawgz

5. Sponge V2

Sponge V2 ($SPONGEV2) is the upgraded version of the successful Sponge token, which dramatically rose from a $1 million to nearly $100 million market cap in 2023.

The new version introduces a stake-to-bridge mechanism, allowing holders of the original Sponge tokens to lock them in the V2 smart contract in exchange for $SPONGEV2, simultaneously securing tokens and annual yields for four years with impressive APYs.

sponge v2 presale website Sponge V2 is enhancing engagement by developing a play-to-earn racer game, rewarding top players with $SPONGEV2. With a total supply of 150 billion, over half are allocated to gaming and staking rewards, making it a compelling choice for beginners in 2024. For more information, join the Telegram channel and read the Sponge V2 whitepaper.

Visit Sponge V2

6. eTukTuk

eTukTuk ($TUK) is a groundbreaking ICO promoting electric vehicle adoption for TukTuk drivers in developing nations, addressing the dual challenges of air pollution from internal combustion engines and rising fuel costs. $TUK tokens can be used to pay for EV charging, staked for high returns with APYs up to 126%, and for rewards at charging stations.

etuktuk presale website

The project plans to enhance driver revenues by 400% by building local charging stations, funded and operated by territory partners. Already raising over $3.1 million in presale at $0.0305 per token, $TUK offers a multi-functional investment opportunity at a potential discount.

Join the eTukTuk Telegram channel to stay updated with this cryptocurrency. For more information, read the eTukTuk whitepaper.

Visit eTukTuk

How to Find the Best ICO Tokens to Buy

Not all ICO tokens go on to become successful, so investors will need to conduct plenty of independent research. The most important factors to consider include the project’s concept, the utility of its token, and how realistic its roadmap objectives are.

Let’s explore some of the most effective ways to find the best ICO tokens to buy:

Concept of the Project

A good starting point when exploring how to buy ICO tokens is to read the project’s whitepaper. This will reveal the concept of the project and what real-world problems it aims to solve. Ultimately, the most successful ICO tokens offer something innovative and new.

Utility of the Token

While there are thousands of tokens in the market, many don’t have use cases. ICO tokens that fall into this category rarely witness long-term growth. Instead, it’s better to focus on utility tokens that have an actual use within the project’s ecosystem. If an ICO token has utility, this increases the likelihood that people will buy it. In turn, increased buying pressure can lead to price appreciation of the token, benefiting early investors.

Roadmap Targets

The best ICO projects offer a detailed and trackable roadmap. This is usually found in the project’s whitepaper. Investors should evaluate how realistic the roadmap targets are. Moreover, each target will have an anticipated completion date. This enables investors to assess whether or not the project is on course. When ICO projects meet their stated targets, this increases trust from the broader markets. But when targets are missed, this has the opposite effect.

How to Buy ICO Tokens Safely & Avoid Scams

The unregulated nature of cryptocurrencies means that investors need to be cautious when learning how to buy ICO tokens. Put simply, just because an ICO claims to have developed an innovative solution to a real-world problem, this doesn’t mean that this will come to fruition. Many crypto startups fail to meet their targets, with investors never seeing the final product or service. This is why research is so important.

Another risk associated with ICOs is a rugpull. This happens when the team behind the ICO suddenly disappears, taking investor funds with them. This leaves ICO investors with worthless tokens. So what steps can ICO investors take to remain safe? First and foremost, it is important that ICO investors only risk what they can afford to lose. There is no guarantee that the ICO will be successful, so investors can lose some or even all of their investment.

Second, it is crucial to avoid putting all investment funds into one ICO. Instead, consider diversifying across many different ICOs from multiple niches. It is also important to use a suitable crypto wallet when investing in ICOs. This will ensure that the ICO tokens purchased can be stored safely. Ultimately, ICOs are never risk-free, so investors should tread with caution.

Conclusion

While ICOs can be risky, the investment returns can be significant. This is because ICOs enable investors to buy newly launched tokens at the lowest price possible. If the project is successful, this can yield sizable returns for early investors.

Overall, PlayDoge ($PLAY) stands out as the best ICO token to buy in June 2024. In only a few days since the $PLAY ICO launched, PlayDoge has raised more than $1.3 million. PlayDoge is creating a play-to-earn Doge companion game where players can take part in mini-games with their Doge pets.

On PlayDoge, players can win $PLAY as an in-game reward, and stake the token to earn passive income.

Visit PlayDoge

FAQs

How do I buy ICO tokens?

After finding a suitable project to invest in, connect a crypto wallet (e.g. MetaMask) to the ICO website and pay for the tokens with a supported crypto (e.g. Ethereum).

What is a crypto ICO?

An ICO, initial coin offering, is a type of sale where a project makes tokens available at a certain price. This is done to raise development funds and build hype and interest in a project and can be a smart way to invest as tokens are often available below market rate.

What is the best crypto ICO?

We currently rate PlayDoge as the best crypto ICO. It stands out due to its play-to-earn gaming opportunities and high staking rewards. the PlayDoge ICO has raised over $1.3 million in only a few days.

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