Spotcoin: With experience comes legitimacy
Part 3 of our Road to the ICO series
Questioning the legitimacy of companies in the digital currencies space before investing in them is understandable. In fact, it’s what you should do, before parting with your hard-earned cash. We address concerns of potential investors on a daily base, in our Telegram groups and in person. Here is how you can be sure Spotcoin is fully above board, compliant and an integer company.
1) Who checks if my investment will actually buy me tokens?
After the ICO, we will have a third-party review conducted by a trusted accountancy firm — one of those big ones: we‘re fielding offers and will make a selection before the ICO — and only after that will the tokens be distributed. That is also true for people who have bought in the private sale or Pre-ICO, or earned tokens in the bounty program or airdrop. If you bought in the Pre-ICO, you can already see your allocated tokens on your spotcoin.com dashboard. Also, we work hard to always be compliant and err on the side of prudence.
2) How do you even know you’re compliant?
This is a valid question. We have a compliance department in Spotcoin who focus full time on legal issues and ensuring we remain compliant with applicable laws and regulations. Keep in mind that it is not only Georgian law that keeps our attention. We operate on the global market and therefore must ensure we are compliant with relevant laws in other countries where we conduct business.
3) All in-house? How can you be 100% sure?
If we’re not 100% sure, we contact our legal partner Juscutum, a fintech and blockchain specialized law firm. They provide us with legal advice and opinions on all existing and emerging legal issues related to digital currencies and blockchain, including issues related to compliance with new regulations as they surface.
4) What about the SEC?
Even though we are technically not required to report to the SEC since we are based in the Republic of Georgia, the country in the Black Sea Region, we have filed with the SEC anyway. American investors can only invest in SPOT if they are accredited investors and qualify under Regulation D of the United States Securities Act.
5) What standards do you hold yourself to?
Additionally, Spotcoin has implemented ISO 31000 international standards for risk management, that includes managing risks associated with evolving legal and regulatory requirements associated with FinTech and digital currencies.
6) Who is on the team?
Check out our Team page, or simply look up Spotcoin on LinkedIn. Most of our teammates have stayed on and re-upped their contracts; we have virtually no churn. So almost everyone you find on LinkedIn with Spotcoin in their profile is still with us. Reach out to us if you want — we are real people, and most of us are nice, too!
7) Who can vouch for you?
It helps to know we collaborate with a number of other companies, who clearly know us well. We have done airdrops together with Effect.ai, Red Pulse, Q Chain, Switcheo and have collaborated with Thor and Travala. We have a mining partnership with Golden Fleece. We have been operating as an OTC since 2016, with happy clients. Ask any of them! We also keep in contact with NEO, the Georgian-American university and GITA, the Georgian Innovation and Technology Agency.
8) What tells me you won’t take the money and run?
The token percentage allocated to the team is relatively low, at 8%, and the team tokens are locked in for a year. Running gets us nothing. And besides, why run when you love what you do? We’re part of a massive change to the global economy, and we are excited to help bring about economic development.
Interested in more Spotcoin?
Take a look at our complete ICO offering here.
Read our Whitepaper here, for more details.
Visit spotcoin.com, where we make digital currencies work for everyone.
Residents and citizens of the United States and US territories are prohibited from taking part in the SPOT Airdrop and the SPOT public sales. Residents and citizens of the following countries are prohibited from taking part in the SPOT public sales: Bosnia and Herzegovina, China, Ethiopia, Iran, Iraq, North Korea, South Korea, Sudan, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Serbia, Vanuatu, Yemen
However, certified accredited U.S. investors can take part in the SPOT private sale. Chinese and South Korean investors can participate in the private sale when paying with digital currencies, after signing the SAFT form and completing the KYC /AML process. Any investment in digital currencies comes at a risk. No one should invest money that he or she can not afford to lose.
Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained in this email are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.