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We knows the private key right?

If we hold the private key we should be able to send ETH from the public address and then the money got sent to our account.

I want to buy video coin. The minimum purchase is 10 ETH

I don't want to fail.

I just want to make sure everything is up up

Anyone did it?

The issue for those who want to refresh their memory: The way ICO works is you send money from an ethereum address and you got money to the same address. I believe this works only on EC20 coins. I don't know if videocash is an EC20 coin or not.

You cannot use your exchange wallet, in general, to ICO. That's because your exchange wallet is custodian wallet.

However, if you control the private key of the public key you should be fine.

And I am under the impression that etherdelta is fine. I do not need myetherwallet. I just need etherdelta.

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  • Good morning, have a nice day, and a good night. Bye.
    – user38075
    May 8, 2018 at 9:41
  • You have to consult with the videocoin team. They might have extra requirements like KYC o AML.
    – Ismael ♦
    May 10, 2018 at 1:28

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I am not sure if I understood you correctly. Let me try to answer your queries.

In General, the ICO's work the way you described. But this is in general, there is no hard rule imposed on how one does an ICO. So generally you send ETH to the ICO contract address (not to the token address, in many cases ICO contract could be different from Token contract).

It is not recommended to transfer Ethers from exchange because

  • You don't have private keys of your exchange account. So you can not spend those tokens unless exchange provides you the functionality (which is very rare)
  • Secondly, when transferring exchanges send a default gas of 21000 which is good to transfer tokens to EOA. But this gas is not sufficient in case you are transferring funds to ICO contracts as they have more complex things to process.

In nutshell:

Better you withdraw funds from your exchange to your wallet address (MEW or Metamask or any secure XYZ wallet). And then send ETH from this wallet to the contract.

Ask the contract creator for recommended gas and min amount (which you say is 10 ETH). Also be sure that you are transferring ETH to correct contract.

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  • I am aware of that. I am looking for answers from someone familiar with etherdelta
    – user4951
    May 9, 2018 at 9:00

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