We’ve received some comments from current and potential contributors that we should have a how-to guide for investing in our crowdsale. Of course they are completely right! Many people who’ve expressed interest in our project have never invested in cryptocurrency (“cryptos”) or participated in a crowdsale, and are justifiably nervous about the process. It can be a scary thing to be involved in when you’re just starting out. But it’s really not that bad! To help out, we’ve wrote a quick and easy guide for purchasing your crypto, registering on our site, and actually contributing.
As a quick note, we wrote this from the perspective of US-based investors. If you hail from outside the US, you may need to do things a little differently.
Getting Started – Purchasing Crypto
With the enthusiasm around crypto nowadays, there are dozens of places you can buy cryptocurrencies like Bitcoin (BTC), Ether (ETH), and Litecoin (LTC). In the US, the biggest exchange is Coinbase, with Gemini and Kraken not far behind. Each exchange has their own process for registering and purchasing of cryptocurrencies, so we won’t write an in-depth guide for each – there are plenty online for whatever exchange you’d like.
The general process, regardless of the one you choose, is simple:
- Sign up for a new account.
- Fill out all required information. You may also need to submit proof of identity, such as a selfie or a driver’s license picture. This is completely normal; exchanges tend to ask for it in order to remain compliant with American know-your-customer/anti-money-laundering laws.
- Transfer money to the exchange. You can transfer with ACH or wire, or transfer other cryptos to your personal wallet on the exchange. It’s a simple process, like paying off your credit card.
- When the money is credited to your account, buy the crypto you want.
- Transfer the crypto off the exchange into a wallet you own the private keys of. There’s a saying in the crypto space – “Not your keys, not your coins”. This means that if you don’t own the private keys (the “password”) of your wallet, they can be stolen by anyone. This has happened in the past, when exchanges have been hacked and their funds stolen, like Mt. Gox.
- Gemini: https://gemini.com/
- Kraken: https://www.kraken.com/en-us
- Coinbase: https://www.coinbase.com/
Registering for the Crowdsale
Here’s the fun part – actually registering! It’s a simple process, so let’s get started.
We’ve had some questions as for why we ask for the things we do, so let’s go field by field on the registration form to see what’s happening. If you don’t care, feel free to skip to the next section.
- Your name – we want to know who you are!
- Your email – we’ll need this to get in touch with you, for things like confirming your registration and getting questions answered. More details below.
- Your country of residence – there are certain restrictions on what countries can contribute. They won’t apply to 99% of people. We review all issues on a case-by-case basis, and we’ll be in touch if there’s a problem.
- Amount expected to be contributed – this is for ballparking how many HealthHeart Tokens (HHT) we should allocate for your registration. You can of course give more or less than this!
- Cryptocurrency to be contributed – this helps us calculate the exchange rate you’ll get for your contribution, as well as trace your transaction. HHT are purchased using a flat rate of HHT to ETH. If you contribute with BTC or LTC, we use that day’s average exchange rate from your coin to ETH, then use that ETH value to calculate how much HHT to give you.
- Since this can be confusing, here’s a quick example. Let’s say you register for our crowdsale and want to contribute Bitcoin. On the day you contribute, one Bitcoin is $100 and one Ether is $25. This gives us an exchange rate of BTC/ETH of 1:4 (Selling 1 BTC for $100, then buying $100 of ETH would give you 4 ETH). One ETH will buy you 1,000 HHT. You contribute 1 BTC. So how much HHT would you get? 1 BTC is equivalent to 4 ETH. 4 ETH times 1,000 HHT per ETH means you’ll get 4,000 HHT.
- Ethereum address to accept HHT – we need the address of a wallet you control in order to send you the HHT you bought. This is for two reasons:
- In an ideal world, we could just look up the transaction ID of your contribution, see the address it was sent from, and send HHT directly to it. However, it’s not that easy. Coins can only be send to addresses of the same type; otherwise, they’re gone forever and you can’t get them back. We’re sure you’ve heard the horror stories of people sending Ethereum to a nonexistent address, or of falling prey to the Bitcoin.com scam and sending Bitcoin to a different kind of address. Our token is based on Ethereum and is ERC-20 compliant. This means that our token abides by a certain set of rules, and can only be sent to Ethereum wallets that also use the ERC-20 standard. Examples of these include MyEtherWallet and Metamask.
- We can’t also send them to Ethereum addresses on exchanges for the simple reason that most exchanges will not honor those deposits. The exchange will keep the tokens for themselves and will not give them to you in your account. The reasons for this are many, but the point is HHT sent to most exchanges will be lost forever.
- In short, we need an Ethereum address you control in order to make sure you actually get your coins.
I’ve Registered, Now What?
We’ll receive your submission. If all the fields look good, we’ll send you an email back with the address to send your contribution to. If you say you want to contribute Bitcoin, we’ll send you our official BTC address. ETH and LTC, same thing.
At this point, send your contribution to the address we give you. Do not send money to the smart contract address directly. It really helps if you reply back with the transaction ID if your contribution. This helps us track what you give and allows us to calculate the right amount of HHT to give you.
Once we confirm your contribution, we’ll send you another email with the amount of HHT you’ll be sent. Due to compliance reasons, we won’t send tokens to your Ethereum address until February 1st, 2018.
It’s February 1st. How do I see my tokens?
In short, import our smart contract into your wallet. Again, the process differs per wallet, and guides for your specific kind of wallet are available online. Here’s the data you need:
- Name: “HealthHeart Tokens”
- Ticker: “HHT”
- Smart contract address: “0x4FBC28e3B3C1c50eE05dCD66D9fC614A0cb99705”
- Number of decimals: “18”
We’ll take care of sending HHT to you, and on Feb 1st, you should see your balance listed.