Note of caution: Before investing in this ICO, be sure to check out the scam allegations the project is facing. Sharedrop published a article 7. september warning people against investing in the ICO, check it out here.
XchangeCoin is a project that is creating a solution to ease the process of buying and selling cryptocurrency, making it easier than ever before for a lot of people. They envision to do this through an extensive retail outlet network, similar to how Western Union works. The team believes that this will help the process of mass adoption of cryptocurrencies in our daily lives.
As of today, it may take up to a week to exchange between cryptocurrencies and traditional currencies in Asia and Africa, which is too long for cryptocurrencies to become part of the society’s norm. This is the issue that XchangeCoin aims to resolve, and they plan to launch more outlets around these areas where you can exchange cryptocurrency and fiat on-site, instantly. After gaining an initial foothold in Asia and Africa, they want to expand this to the whole world. The product will give everyone the opportunity to exchange, as well as send money anywhere in the world.
XchangeCoin’s business model allocates a 10% fee for all cryptocurrency exchanges. The product has a system that will automatically trade the digital values and sell them at the exchange where the price is at the highest, making sure you get the best rate. It will automatically select the exchange service that offers the best price for the seller. This will ensure the seller that the price it is sold for is relevant to what the digital value is worth, according to the market. As mentioned above, they will focus on Asia and Africa first, and this is because this is the place where the demand for such a service is biggest at the present time. They have determined that India, Kenya and South Africa are the markets they want to focus on first. These countries are also known to be the fast developing areas in the chosen region they have chosen first. At the same time, they create their own ecosystem that will use blockchain technology to verify smart contracts. This is of P2P technology and will be supported by their own token value that goes under the ticker XCC, which is short for XchangeCoin. This will be possible on decentralized exchange services.
The third sale period for XchangeCoin has now started, and now you are offered to buy tokens with a bonus of 5%. Together, 500 million tokens will be printed, 85% of which will be released under a coin issue to the community, 5% will go to bounty participants, and the remaining 10% will go to the company behind the product and their advisors. These tokens will be frozen six months ahead and are insured through a smart contract based on Ethereum’s blockchain. According to their business plan, their token will be available at one of the largest exchange services during October this year. By the beginning of next year, they will launch their second business plan, which deals with more detailed details of how to establish themselves in the particular markets. Before that time, they have already set up outlets several places around Asia and Africa.
Disclaimer: This article contains paid placements and is not intended as financial advisory. We are not responsible for any losses made by investing in Blockchain launch-ups in the form of ICO (Token Issue) presented on the page. Prior to any investment in ICO it is your own responsibility to do thorough research.