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Can I Import Presale Tokens Into Best Wallet?
Can I Import Presale Tokens Into Best Wallet?

Learn about presale tokens in Best Wallet.

Updated over a week ago

No, you cannot import a presale token on Best Wallet until that project officially launches. This is because a presale token is not yet live on a blockchain and therefore cannot be owned or traded.

You will only be able to import and then transact a presale token when it fully launches and you have claimed your presale purchase. Think of it like a presale purchase of a physical item – you’ve merely reserved it, and until you claim it, you can't use or sell it.

If you’ve bought a presale with your Best Wallet, you will have to wait until that presale project launches before you can claim/import your new tokens.

What are crypto presales?

Crypto presales are a critical phase in the lifecycle of new cryptocurrencies. They allow developers to raise funds and buyers to get in early, often at a lower price than the token’s launch price.

Presale tokens are essentially early versions of a cryptocurrency offered to investors before the public launch.

This stage can be highly profitable, but highly risky, as it allows investors to buy in at a lower price compared to the expected launch price.

Is it safe to buy presale tokens?

There is an element of uncertainty and risk when buying presale tokens. This is because the token is often part of a project that is in early development and is not yet live, so you’re buying in good faith that it will eventually launch. Sometimes, presale tokens don’t ever launch or are severely delayed, so you may lose or have delayed any investment you make.

However, many presale projects do launch, and early investors end up making a high return on investment (ROI).

It's important that you do your own research before investing in any presale, as Best Wallet cannot help with any potential losses, or recover any funds.

A presale case study: Wall Street Memes ($WSM)

Wall Street Memes ran a successful presale during 2023, before fully launching its $WSM token.

The token was initially priced at $0.0250 during its first presale stage. By the 30th stage of the presale, $WSM’s value increased to $0.0337.

So, if you make an initial investment of $500 at the beginning of its presale, your investment would grow to $674 by the end of the presale period (three months).

The value of your presale token could soar even higher post-launch, depending on market reception and exchange listings. For example, $WSM is now on Tier-1 exchanges, including OKX.

So, if you held on to your $500 $WSM presale purchase, at its all-time high of $0.0625 your investment would have been worth $1,250, which is a 250% ROI.

Buying into a Presale with Best Wallet

You can purchase presale tokens with your Best Wallet. However, please note that Best Wallet can’t recover any lost funds and buying into presales is at the complete discretion of the user.

The steps are simple with Best Wallet:

  1. Connect Your Wallet: Use the Wallet Connect feature, typically represented by a QR code on the presale website.

  2. Scan the QR Code: Open the camera in Best Wallet or use your device’s camera to scan the QR code. This links your Best Wallet to the presale.

  3. Authorise and Purchase: After scanning, accept the connection on Best Wallet and proceed to purchase the presale tokens through the website.

Additionally, you can access partner presale projects within the Apps page of Best Wallet. These will be listed in the Project Directory and will include both newly launched presales and running airdrops.

Can I see/manage these presale tokens within Best Wallet?

This depends on a few factors:

Visibility of Tokens:

Initially, your presale tokens might not be visible in your Best Wallet. This is because often a presale project is in development.

However, some presale projects will publish the presale token's contract address early. If this happens, you will be able to manually import the token to your Best Wallet.

However, your presale token balance will only show after you’ve claimed your tokens. So you can import the presale token in, but how the amount or value of your presale purchase won't show until you have claimed your tokens.

Claiming Your Tokens:

Keep an eye on the project’s official launch timeline. Once the tokens become claimable, you will typically need to visit the project's website and follow their specific claiming process, which may involve connecting your Best Wallet again.

Viewing Tokens in Best Wallet:

After you've successfully claimed your tokens, they should appear in your Best Wallet. If they don't show up immediately, don't panic. Sometimes, there might be a delay, or you may need to add the token manually by entering its contract address through Best Wallet’s import token feature.

Once they are claimed and visible, you can manage them easily on Best Wallet. The presale tokens can then be transferred like any other cryptocurrency, subject to the usual network fees and conditions.

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