Digital currency startup Compcoin has announced the launch of its ICO on June 14, 2017. The company has set the fundraising target of $45 million, which if reached will be allocated towards business development, investor acquisition, and building new technologies.
[Note: This is a press release.]
Compcoin is focused on capital growth, and investors will look to hold or trade the digital token to leverage it as an alternative investment vehicle. Compcoin’s unique platform ART (proprietary, automated, algorithmic trading platform), was designed by its parent company, the Fintech Investment Group and will offer investors unique investment opportunities.
The idea behind ART is that investors can leverage Compcoin for forex trades and the more compcoins they hold, the greater leverage power they will wield. Due to the finite supply of available compcoins, the demand is expected to increase the digital currency’s value to aid long-term investors, forex traders and other platform users.
Investors who are interested in learning more about Compcoin are invited to review the company’s offering memorandum.
Highlights from the offering memorandum include:
- Purchasing Compcoin only provides access to ART. The token owners looking to execute forex trades via ART must set up and fund an account with the brokerage of their choice, and then link it to ART. At this time, Compcoin may not be used to fund forex trades.
- The ability for Compcoin to store value, and potentially increase in value offsets any traditional account management fees that retail forex traders would have generally paid to execute trades. Instead of paying fees to a third party, Compcoin investors can use those dollars to purchase a digital asset that can be traded or sold for a potential profit at a later date.
- Compcoin is transferable and divisible, and exhaust when used to activate the ART trading technology at a rate of 0.5% each quarter. Once a coin is exhausted, it may no longer be used or traded, and fresh compcoins must be acquired.
About the Compcoin ICO
During the Compcoin ICO, investors will be eligible to receive the first 700,000 units at 20% bonus on the single unit price of $15 USD. Compcoin has stated that additional details regarding the bonus program has now been released and are accessible at www.compcoin.com.
Unlike most cryptocurrency ICO’s, investors can actually reserve their coins by contacting Compcoin at 888-377-COIN (2646). The platform had announced that of all of the total 3 million available Compcoin’s are reserved before the ICO date, then the coins will be issued on an exchange or exchanges within two to three business days after the ICO date.
There are currently 4.6 million compcoins which have been minted, since the company’s inception in 2014. Compcoin will cease minting tokens by the year 2020, or when the total number of tokens minted reaches 10 million, whichever comes first. A percentage of coins will be available for miners. All specific details can be located on the official website.
Images courtesy of Compcoin, Shutterstock