Contribute to a Crowdloan
How to contribute to a crowdloan using Nova Wallet!
A crowdloan is a mechanism in which a parachain project team can allow trustless contributions from the community to their bid during a parachain slot auction. More information about parachain slot auctions can be found here.
Ensure that you do your own due diligence and research the parachain project and it's team prior to participating in a crowdloan. Ensure that you read any terms & conditions, including understanding the token vesting schedule.
For those of us who are new to cryptocurrencies and blockchain technology it can be a scary place. Make sure that you only follow information from official channels, and remember - if it sounds too good to be true, it probably is! There is a handy guide on the Polkadot Wiki about common scams and how to protect yourself from them.
We strongly recommend that you only contribute via a non-custodial method. Do NOT contribute via a Centralized Exchange (CEX), and do NOT send funds directly to any teams.
Nova Wallet is a non-custodial web3 wallet solution for iOS and Android devices. Your private key is stored locally on your device, in the enclaved secured storage of your operating system, and it is encrypted with the user's personal secret (for now, in the form of a pin code).
You can use Nova Wallet to easily contribute to Polkadot and Kusama crowdloans in a non-custodial way. You remain in control of your keys, and your crypto assets.
Note: please review the Crowdloan FAQ page for more information.
- 1.Open the Nova Wallet application.
Selectthe "Vote" module.
Selectthe "Crowdloans" tab.
Selectyour desired network - typically Polkadot or Kusama.
- 5.To contribute to a crowdloan,
Selecta crowdloan from the "Active" list.
Inputthe amount of DOT or KSM that you wish to contribute, then
Select"Continue". Review all the relevant information, such as the leasing period. Also review our Crowdloan FAQ page.