Selling tokens

Suppose you want to create an ERC-20 smart contract, and you want to create a method where people can buy your tokens with ETH; you can do this. There is no standard for this kind of method. So, you can name the method any name you like.

Let’s say you want to sell your custom token for ETH. A crowdsourcing token is very easy to create on the Ethereum platform compared to the Bitcoin platform. You already know how to create a method in a smart contract to accept ETH. You also know how to increase the token balance of some accounts. To sell tokens, you must combine those two things. That’s all.

This is the core of the initial coin offering (ICO) process. The currency of Ethereum is valuable. Although the price of ether fluctuates, 1 ether is valued at around USD 3,000 at the time of writing. People will pay real money for some ETH but not your custom token. To make your custom token worthy, you have to make it useful first, or at least make it appear...