http://AlphaInvestors.Club – Hey guys! Thanks for joining us here at http://AlphaInvestors.Club where today we will be reviewing ETHBITS Crypto currency.
Ethbits Crypto currency is launching two platforms for trading and exchanging cryptocurrencies. The first, which is already in beta, will be Ethbits Local Crypto currency. Ethbits local Crypto currency borrows LocalBitcoin’s concept of facilitating face-to-face trades of cryptocurrency for fiat currency and adapts it to Ether, but with a lower transaction fee. Ethbits Local Crypto currency also allows for the digital exchange of cryptocurrency for fiat through bank transfers.
Ethbit’s second project is an ambitious cryptocurrency exchange platform with social trading functions similar to eToro. The platform, called iTrade (hosted on a centralized server) will support the top 15 cryptocurrencies by market capitalization as well as pool trading, copy trading, and auto trading. The Ethbits Crypto currency developers say that social trading features like these will help attract new crypto-investors to their platform. They are also in talks with Mycelium to offer a crypto-debit card to their users.
What is the token being sold?
The Ethbits Crypto currency token offered in the sale represents shares in the Ethbits Crypto currency platform and pays out dividends in the form of ETH on a quarterly basis.The Ethbits Crypto currency token is also required to pay transaction fees over both networks. Initially, users will be required to hold Ethbits Crypto currency to use the network. Eventually Ethbits Crypto currency plans on accepting fee payments in multiple cryptocurrencies by automatically executing conversions to the appropriate amount of Ethbits Crypto currency in the background.
A maximum of 4 million ETB tokens will be on offer, but the actual distribution will be proportional to participation in the token sale. All unsold tokens will be burnt. Depending on how much the sale raises, the total supply of ETB tokens will represent rights between 7.5 – 40% of Ethbits Local’s Crypto currency profits. More specifically, an additional 1% of profits will be shared for every 1000 ETH raised. As a bonus to token sale contributors, once iTrade is launched, 80/60% of profits from this platform alone will be distributed to ETB tokenholders over the first/second years respectively. In the third year, this reverts to the 7.5 – 40% base rate across both platforms…tune in for our full review!
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