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How to Track IGO, ICO, or Token Sale

How can I track an Initial Game Offering (IGO) or Initial Coin Offering (ICO)?

Tracking an Initial Game Offering (IGO) or Initial Coin Offering (ICO) involves closely monitoring your transactions to ensure accurate accounting of both the assets you've sent and received. This process is crucial for maintaining transparent records and understanding the financial implications of your investments. Below are the detailed steps to effectively track an ICO or IGO transaction.

Step 1: Sync Your Wallet Transactions

First, ensure that all wallets related to the ICO or IGO are added to CoinTracker. This includes both outgoing payments and incoming tokens. For instance, if you participated in a 0x (ZRX) token sale and paid 5 ETH to receive 2,500 ZRX, both transactions should appear in your wallet history.

Step 2: Identify the Transactions

Locate the specific transactions in your wallet:

  • Sent Transaction: This is what you paid for the coin/token (e.g., 5 ETH).
  • Received Transaction: This is the amount of the coin/token you received (e.g., 2,500 ZRX).

These transactions might occur sequentially or with a gap, and could be to the same or different wallets:

Screenshot_2023-01-06_at_2.29.59_PM.png

Step 3: Link the Transactions

To effectively track and manage these transactions:

  1. Edit the "Sent" transaction using the dropdown menu on the right side of the transaction entry.
  2. Copy the details of the "Received" transaction into the "Sent" transaction. This includes the quantity of tokens received, the token symbol and the wallet address.

Step 4: Update and Consolidate

Update the transaction entry to reflect both the payment and receipt of the token. This creates a single record that shows both sides of the trade, facilitating easier capital gains calculations and financial tracking.

Step 5: Handle Duplicates

After updating, ignore the originally synced "Received" transaction to avoid duplications in your records. The system might gray out and strike through the original "Sent" transaction, since there is a new "Trade" transaction, but it will still be stored in case you need to revert your records for any reason.

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