How to buy W3C Tokens using Parity

Posted By: Admin Published: 10/07/2017 Times Read: 812

Disclaimer: This is document is only meant to serve as a tool to guide you through the purchase of W3C tokens. We are not responsible for any loss and cannot guarantee that the services listed below will work as intended.

Prerequisites:

To follow this guide, you will need:

  1. To have downloaded the Parity Client/Wallet and have it fully synced to the network. You can find it here: https://parity.io/parity.html . Make sure to download the one compatible with your computer OS and architecture.
  2. Hold a certain amount of ether in the account that you control. ONLY ETHER WILL BE ACCEPTED FOR THE ICO. Do not send any other cryptocurrency to the addresses mentioned in this article

Getting Started

Step 1: Installing Parity

To install Parity, simply follow the installation instructions found on the webpage.

Step 2: Syncing

Open a terminal/command prompt and write parity --warp and let it sync with the Main (as opposed to testnet) network. This can take hours. Once done, go to http://127.0.0.1:8180 on a browser to access the parity graphical user interface.

Step 3: Creating an Account

To create a new account, simply click "+ Account" on the middle navbar, choose if you want to import of create a new account. You will need to provide a password to encrypt your wallet at this point.

Step 4: Watching the Tokens

To be able to "watch" the W3C tokens contract and see all of its relevant information, you are going to need the address of the tokens contract which can be found on the W3C website. Parity's GUI does not let you interact with contracts by default, so you will need to change a setting on the GUI first. Click "Settings" on the right corner and select "Contract". Enable the Contracts field.

Once you have the address, and changed the setting, click on the "Contracts" on the top navigation bar of the wallet. Once in the contracts page, click "Watch Contract". Choose the "Token" button and click "Next". You will be prompted to enter the address of the token (found on the W3C website), and a description of the token.

Step 5: Getting Ether

To be able to participate in the ICO, you will need to hold some ether (ETH) in an account that you control.

You can buy ETH from different exchanges using a plethora of currencies. Note: just like in Bitcoin, there are transaction fees associated to every transaction. So sending 1 ether will not exactly give you back the amount of tokens that you expect, it will be slightly less.

WARNING: Do not send ether directly from an exchange. It is possible that you will lose all of those tokens. We suggest buying ether on exchanges, and sending that ether over to your own privately controlled account.

Step 6: Buying W3C Tokens

The ICO will be active from July 10th and will close 30 days from then. There is a limited supply of tokens for the ICO, the sale goes on a first come first serve basis. Before doing anything, please verify that you are currently in the crowdfund period.

To buy W3C tokens, all you will need to do is to send a transaction to the CrowdFund Contract address with a certain amount of ether from a contract you control. Send the contract with at least 200 000 gas to make sure that the transaction goes through. We suggest sending the transaction with a reasonable gas price, around 3~4 Gwei.

To send a transaction to the contract, choose the account you want to send ether from. On the page, click "Transfer"

Make sure to click the "advanced sending options" button before continuing.

On the next page, change the gas to 200 000 and choose an appropriate gas price.

The conversion rate for the ICO will be 1 ether = 50 000 W3C.

To submit the transaction, enter the password associated with the account, and then click send. A few seconds after sending you transaction, you should see the tokens being listed on the account that sent the transaction.

To see the balance of tokens, click on the "Contracts" tab and choose the W3C token contract that we added earlier. Input the address where you sent the tokens from in the balanceOf section and click on query. You should see a certain amount of tokens that now belong to you!

That's it!

Thank you for participating in the W3C ICO.

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