When new project coins launch, there are ways for those who want to buy them through various methods such as IDO, ICO, or, in many projects, the launching platform’s coin stake is required to be eligible for IDO. In addition, there are activities and randomly selected lucky winners. So it may be a problem for many people, especially those who invest less. and bad luck regularly So today we’re going to introduce and teach you one platform that gives everyone the opportunity to earn new project coins. That platform is Copper Launch.
What distinguishes Copper Launch from other major launch platforms is that it uses an auction system instead, where bidding here is referred to as a Dutch auction, meaning that the price will go from high and low to a lower price. People can buy coins at any time within a specified period of time.
This means that if no one buys The coin price will continue to decrease according to the project set. But if someone decides to buy it, the coin price can bounce back according to the amount of purchase that comes in. For example, if someone decides to buy $1000, the price may not go up much. But if someone else decides to buy $1 million in volume, it’s likely that the price can bounce back up high.
How to use the platform
Copper Launch will allow users to bid on two blockchains, Ethereum and Polygon, but today we’re going to focus on Ethereum.
first step: Let us go to https://copperlaunch.com/auctions Then select Ethereum in the upper right corner.
Then click on Connect Wallet by the recommended wallet if for anyone who doesn’t have it, may use Metamask because this wallet has the most users in the world.
second step: Prepare the required money or coins.
The very first coin that was needed was Ethereum(ETH) because the Ethereum Chain uses Ethereum (ETH) as the transaction fee. Therefore, we have to prepare this part of ETH to pay for the transaction first. The amount that should be reserved may be 0.05 – 0.1 ETH for safe transactions. Because this is an auction of coins that we can buy as many times as possible in a given period of time.
for that auction Bidders can use all 4 coins in the auction.
For coins that are convenient to use as stable coins here are DAI and USDC that are based on US Dollar prices and most importantly, on the auction page the coin prices are indicated in US Dollar, which allows users to use these 2 coins against Coin price at that time
For funds transfers (DAI, USDC, ETH) into Metamask wallet, you can transfer from any exchange that supports ERC-20 (almost every exchange supports this chain) and enter our Metamask Address which can be found in Account on Metamask. Extension
the third step: Select the token we want to bid on. The first thing to do in this section is to enter the Auction menu.
Then press View on All Auctions, then press View again on the desired token.
by purchasable tokens There will be a green state, for example, c0 token and DMC. Let’s try to select the DMC as an example.
Step 4: Understand the information of the tokens we will buy.
The information of the auction is as follows:
DURATION: Auction period
ENDS IN: The auction will end within that time.
TOTAL VOLUME: Total trading volume
LIQUIDITY: Token Liquidity
PRICE: current price
TOKEN SOLD: Percentage of tokens sold.
FUNDS RAISED: Amount of funds raised (in USDC)
The purple chart is the price of the token since its launch. The pink part is the projected price of the token if there are no future buyers.
Step 5 : buy tokens
Enter the amount you want to buy > press Approve for Trading, which will allow the use of coins on the platform. It may have to wait for a confirmation from the blockchain for a while. > Once the confirmation is complete, a Buy DMC button will appear, press this button.
Then let us confirm the transaction. Then wait a moment for it to finish. When the transaction is complete, we will immediately get the tokens we bid in our wallet.
Tips for bidding on Copper Auction
There is no exact principle in the bidding here, but the techniques that can be applied are:
- If a person is quite Fomo, the tokens may not buy it at the opening price because the price may go up. If the auction period is large, it may wait. Because the price is already reduced if there are no buyers.
- Because this kind of auction is still at risk of price fluctuations. Therefore, sharing purchases may reduce this risk (increased transaction costs).
Finally, the principle of the auction depends on the point of view of each person. Because the risks of each person are not the same. Investors like us should always be aware of the risks and think carefully before investing.