How do I buy Lition Tokens? Step By Step Guide – Benni Woerpel – Medium
Not your first ICO? Read the short version.
Lition Tokens can ONLY be obtained through this URL: https://www.lition.io/tge
As you are experienced in the space we are certain that we don’t need to tell you that you a required to have an Ether or Bitcoin wallet, sufficient ETH or BTC funds for your contribution and that you need to pass our — KYC process — available this weekend, in order to be ready to contribute on the 18th of March @ 3pm (CET).
/// Attention: Please make sure to register with the same e-mail address with which you were whitelisted if you want to attend the first round. Otherwise your contribution will be refunded. ///
Newcomer? Our Step by Step Guide.
Please make sure you get ready already now, so you are prepared when the token sale starts on the 18th of March at 3 pm (CET) so you have a better chance to get your fair share of Lition tokens. Tokens are given on a first-come-first-serve basis. Have a look at the subsequent steps necessary to become a Lition Stakeholder.
1. Obtain an Ether Wallet
The wallet is like your bank account. We suggest myetherwallet or mycryptoThe steps involved are described on their websites, if however you are unsure on which path to choose, you can also watch a variety of YouTube videos that take you through the process of obtaining a wallet.
You should now have:
- ETH (Ethereum) address
- “Private Key”
Be aware that saving and safekeeping the key will be your responsibility.
2. Purchase ETH on exchange & transfer to your wallet
There are different exchanges on which you can purchase ETH. We can recommend Coinbase Link or Kraken Link. On the exchange you need to buy the equivalent amount of ETH to the amount of Lition Tokens. The Lition token price equals $0.10 USD i.e. 10 Lition Tokens are $1 USD.
Once you have the funds you send them to your ETH address. This onboarding process and wiring of funds to a wallet can take a few days, so please to so as soon as possible.
You should now have:
- Sufficient ETH funds on your ETH address (wallet)
/// Attention: Do not directly send the purchased ETH from the exchange to the Lition’s wallet ///
3. Register for KYC on the Lition website
In order to qualify for the public sale you need to upload your KYC details prior to contribution. This is done through this URL: https://www.lition.io/tge
You will find a button (register for KYC) which links you directly to the investor dashboard. You will need a passport or national ID card, and either a selfie or webcam to proceed. This is needed for legal reasons to protect against anti-terrorism and anti-money-laundring.
/// Attention: Please make sure to register with the same e-mail address (email@example.com) with which you were whitelisted if you want to attend the first round. Otherwise your contribution will be refunded. ///
4. Buy Lition Tokens — Contribution in ETH
After you have uploaded your KYC details you will be able to contribute on the investor dashboard. So, you basically “just send” the ETH to the Lition address (wallet). Please, bare in mind that you still have to wait for confirmation. We have to put required checks and balances in place to assure a legally compliant initial coin offering (ICO). See the final step below.
5. Wait for KYC confirmation
Together with our partner Tokeny we will check the following two criteria once the contribution has arrived:
- KYC Check: Are you eligible for contribution based on — KYC details — (e.g. nationality)
- Whitelist Check: Are you registered on the whitelist with the same — e-mail address — see above
After a standard check we will send you a confirmation e-mail!
/// Attention: Please make sure to go through the KYC Process as soon as possible, we will “open the gate” on the weekend Friday/Saturday 15th/ 16Thof March ///
6. Contribute ETH — as of March 18, 3pm CET
Starting March 18, 3pm, you can now send ETH from your wallet to the Lition smart contract . You can do this with your wallet (see step 1), the Lition address (wallet) shown to you on the Lition token sale website, and the amount you want to contribute.
In case you did not pass the KYC Check and/or whitelist check we will refund your contribution. We return the ETH funds to your wallet right away. It’s therefore important that you transfer your funds from your own wallet and not directly from an Exchange.
7. Receive Lition Tokens
The transfer of your Lition Tokens will take place after the Token Generation Event which will take place about one week prior to exchange listing (planned for April, latest May) in order to start the ‘clock’ for all the bonus periods.
If you have any questions, please let us know. We’re here to help.