A token presale is a fundraising event that takes place before the actual ICO, IDO or IEO events. Token presales can happen before public or private sale rounds. These rounds allow investors to buy tokens at a discounted price before they become available for a larger base of institutional and retail investors. Cryptocurrency presales are typically conducted to attract early investors and raise funds for the development and launch of a project prior to the private and public token sale rounds. Additionally, project developers may organize public and private presale events to generate more buzz around a token before it goes public. One of the main advantages of participating in pre-ICO, IDO or IEO token sale rounds is the opportunity to buy tokens at a lower price than what they will be offered at cryptocurrency rounds that will come after. Even if a project performs worse than expected, presale investors will be the ones that will get the most profit.