Even though ICO, IDO, and community have different names, in my opinion they all mean the same, just different names. The first time I found out about them, I thought it was really cool and one of the best ways to make money in crypto with little or no risk. But I was wrong because there are risks and terms and conditions, you need to know the risks and terms and conditions.
source
In my own definition and understanding of ICOs(Initial Coin Offering) , IDOs(Initial DEX Offering) and Community sale is buying a token or coin before listing, usually, it’s expected to be cheaper before listing, giving you advantage to sell it a higher price. For instance, you could buy it at $0.1 at community sale or ICO or IDO price, when it launches, the price could be let’s say $1. That’s easy 10X right there, but guess what, it’s not always that easy. Sometimes this project devs could be lying or scammers or hustlers and hustle you. They sell at pre launch for $0.1 and it launches at $0.05 meaning you are already at a 50% loss.
That’s the risk, some times you could get scammed, after participating, you don’t hear from the devs any more and that’s the end of the your money. But while this is the risk, the reward could be extremely high, you can double your money or more. Sometimes you are allowed to claim a certain percentage of your token and claim the rest over the agreed time periods, other times you can claim everything at once. I love claiming everything because that gives me full control so I only participate for the ones that have 0 vesting.