Spotcoin - Simple Liquidity - bridge the gap between legacy financial markets and emerging digital asset ecosystems
Crypto-money talks!
When money talks… we mere mortals listen!
That’s what @spotcoin is trying to do using their https://spotcoin.com solution. With a proven track record of providing cryptocurrency to fiat exchange, they have built trust and are getting ready to go global.
Spotcoin processed over $1M per month in trades just two months after its November 2016 launch. Their proof of concept was affirmed as market demand increased. The company cleared over $5M in trades by the end of its second quarter in operation
The battle line for the cross transfer of digital cryptocurrencies with fiat currency has long been drawn, here is where Spotcoin enters with a winning solution.
Objectives Of Spotcoin
The internet has helped revolutionize the way we view assets.
The main objective of spot coin is the provision of a digital asset management platform, that would be available to most people while promoting simplicity of usage and security of asset. In other words… they make digital assets work for everyone!
Digital assets are programmable assets that exist in the form of electronic data. With blockchain technology, the digitization of assets can be decentralized, trustful, traceable, highly transparent, and free of intermediaries. On the NEO blockchain, users are able to register, trade, and circulate multiple types of assets. Proving the connection between digital and physical assets is possible through digital identity. Assets registered through a validated digital identity are protected by law.
HOW IT WORKS
Trading in Large Volume
Presently, exchanging cryptocurrency to fiat currency using exchanges come with restrictions on usage and the volume of transactions being carried out by the user, in any given time frame. This is very oppressive and limiting, and it's causing a major concern for users who wants to exchange their digital assets with fiat currencies.
Spotcoin will allow for much larger limits when exchange crypto and fiat currencies. Spotcoin is targeting to execute large volume trades with their OTC marketplace, working as an intermediate trading and escrow services for fiat and digital assets.
Working on the T+1 model of settlement for all transactions, and secured with 2-FA authentication to provide high security, with personal ambassadors for trading over 1Mn USD for month, spotcoin is set to turn the tables around.
Next Business Day Settlements
If you don’t like waiting in line for days for your crypto to fiat transaction to be complete, you are not alone! Currently, exchanges make us wait wait between 3 to 5 business days before you can access your funds, spotcoin is removing that wait time!! This will give more liquidity and access to funds for everyone.
Using spotcoin, Fiat currencies can be exchanged with the four most popular trading pairs namely GAS, Ethereum, Bitcoin and SIB
Platform: Neo Blockchain
Spotcoin is built on the Neo blockchain network, due to its huge advantages over other platforms like ethereum. WIth 1,000 TPS and zero rate fee for transactions, neo blockchain will power spotcoin to be a great investments for its investors.
NEO is an open source, non-profit, community-backed blockchain token platform that aims to create a distributed network “Smart Economy.” NEO is ideally suited to provide the platform that will best support Spotcoin’s vision for the future. NEO was specifically designed to address legal and regulatory requirements for both fungible and non-fungible digital assets. NEO also incorporates digital identities which makes its network, and any tokens built upon it, ideally suited for satisfying know your customer (KYC) and anti-money laundering (AML) requirements.
Retail Payments
Using the spotcoin API Spot-Pay, they will provide instant payouts to retailers in the desired fiat currencies. This will be a low cost, fast and secure point of sale transaction using digital wallets.
Mining
Using a 1.1 mega watt mining facility, spotcoin is aiming at using environmentally safe energy. This facility will create 4500 GPU miners with an additional 4,500 units on behalf of clients.
Education
Spotsoin will also be building vocational/technical colleges to aid research and fill up the shortage of blockchain engineers and developers.
Spotcoin ICO
Spotcoin is raising $30M through their token sale and will begin distributing Spotcoin tokens (SPOT) by the end of Q3 2018. The total supply of SPOT is ninety-nine million tokens (99,000,000). All SPOT holders are entitled to dividends based upon transparent, equitable and audited results.
Initial Coin Offering Spotcoin will hold a Private Placement (PP) and Initial Coin Offering (ICO) to raise capital for the expansion of its business, with Pre-ICO Sale start date on June 12–14.
There will be a maximum of 99,000,000 SPOT tokens, of which 66.7% (66,000,000 tokens) will be available for sale, and 33.3% (33,000,000 tokens) which will be reserved for the team and for Spotcoin’s treasury.
SPOT tokens will be priced at $0.50 USD per token during the Public Sale.
How to Get in Touch
· Website - https://www.spotcoin.com/
· Reddit - https://www.reddit.com/r/Spotcoin/
· Facebook - https://www.facebook.com/spotcoin/
· YouTube - https://www.youtube.com/channel/UCpNwYXK1JMJpaRBKyYqqDIQ
· Twitter - https://twitter.com/therealspotcoin
· Instagram - https://www.instagram.com/spotcoin/
· Telegram - https://t.me/spotcoinbounty
· LinkedIn - https://www.linkedin.com/company/spotcoin
· Steemit - https://steemit.com/@spotcoin
Spotcoin is extraordinary undertaking at the present digital money market.You can get increasingly advantage from this important task. I recommend all the crypto network to join with this incredible venture.
God bless you. @biblegateway
Great article mate. This is a project that i have been following for quite a while now and i gotta say the thing i am most excited about is crypto-to-fiat trading . This is going to be a game-changing feature in my opinion. The fact that the pre-ICO closed early despite the current market is aslo a great sign of a strong project that is valued by the community. Really excited for this one