We at EXMO are excited about the upcoming EXMO Coin crowdsale that is due to start in February, 2018. So far, we have been receiving a lot of positive feedback regarding the business model behind EXO token and working hard on responding to various queries from users around the globe.
In the following blog, we decided to compile the list of the most frequently addressed questions to make the research on EXO a bit easier for some of you. Here they are:
QUESTION: Why is EXMO issuing EXMO Coins?
ANSWER: The EXMO Coin crowdsale will enable the platform’s rapid development. One of our core priorities is to cover the growing demand for margin loans. We aim to make EXMO the biggest global cryptocurrency exchange, and a little help from the crypto-community will allow us to do this in the shortest possible time.
QUESTION: What currencies can I use to buy EXO Coin?
ANSWER: You may purchase EXO for a fixed price of $1 with cryptocurrencies such as Bitcoin, Litecoin, Dash, and Zcash on cryptocurrency exchanges such as EXMO, Poloniex and Kraken on their exchange rates at the moment of transaction confirmation. The transaction speed may vary depending on the commission amount.
QUESTION: What is the EXO’s expected price?
ANSWER: The EXO price is fixed at $1 during the time of the crowdsale. Following the sale, EXO will be listed on the EXMO exchange and traded in currency pairs such as EXO/BTC and EXO/ETH.Predicted price of 1 EXO:
1. 2018 — $2;
2. 2019 — $6;
3. 2020 — $12;
4. 2021 — $20;
5. 2022 — $30.
QUESTION: What is the minimum investment amount?
ANSWER: The minimum investment amount during the crowdsale is 15 EXO.
QUESTION: Can I buy tokens through a USD or EUR bank transfer?
ANSWER: EXO tokens can be only purchased with Bitcoin, Litecoin, Dash, Ethereum and ZCash cryptocurrencies.
QUESTION: What is the expected profit from EXMO’s margin loans?
ANSWER: You may get acquainted with the margin loan profitability forecasts in the ‘Development Plan’ section of our White Paper. The expected profit from margin loans by 2022 constitutes $810М.
QUESTION: How does one store EXO tokens and receive dividends?
ANSWER: At the time of dividends distribution, EXO tokens are to be stored in the holder’s EXMO wallet. At other times they can be stored in any wallet supported by the ERC20 standard.
QUESTION: How can I use EXO tokens after the crowdsale?
ANSWER: After the crowdsale you may utilize EXO tokens in the following ways:· keep them to receive monthly dividends;· trade them on the EXMO Exchange;· convert them into other crypto- or fiat currencies.
QUESTION: Based on what will the EXO value increase?
ANSWER: The value of the EXMO Coin token will grow thanks to the following factors:
- growing price of cryptocurrencies used for margin loans;
- growing demand for margin loans;· growing number of traders on the exchange;
- the overall exchange development and integration of new tools to the platform;
- growing demand for EXO tokens on other exchanges;
- introduction of new currencies and currency pairs to the margin loan system.
QUESTION: How often will the dividends be accrued?
ANSWER: The dividends will be accrued on a monthly basis.
QUESTION: What guarantees will investors receive?
ANSWER: EXMO, the EXMO Coin issuer, has been operating for over 4 years, and has a solid plan of further development.
EXMO guarantees token buyout until April 1, 2025. The early token buyout cannot be made earlier than April 1, 2020.
QUESTION: What are the benefits of EXMO Coin for investors?
ANSWER: EXO tokens will bring their holders the following benefits:
- EXMO Coin provides their holders with monthly dividends accrued in EXO tokens;
- EXO tokens are issued by an already operating and profitable business;
- EXO exchange rate will grow in line with the overall EXMO platform growth, as well as other cryptocurrencies exchange rates on the platform;
- demand for EXO on the EXMO exchange will predictably grow;
- EXO buyout by the EXMO exchange is guaranteed.
QUESTION: What kind of licenses are you planning to obtain?
ANSWER: At the beginning we will require the following licenses: EMI, FCI broker financial license, Foreign Exchange Regulation, PCI DSS (Payment Card Industry Security Standards Council) certification. Later on, we will obtain the licensing required to carry out activity in countries such as Japan, South Korea, the USA, and others.
QUESTION: Where is EXMO based?
ANSWER: EXMO has offices in London and Barcelona, and is governed by the laws of the United Kingdom.
QUESTION: How can I get acquainted with the legal and technical aspects of the EXMO Coin crowdsale?
ANSWER: You may find all the related technical and business information in our White Paper. The legal aspects are outlined in the Token Sale Agreement.
QUESTION: What kind of wallets can be used for EXMO Coin transactions?
ANSWER: You will require a wallet supporting the ERC20 token standard. We recommend Metamask, MyEtherWallet, and Mist.