Not a day goes by without hearing of cryptocurrency. Many of them are developed to solve certain problems and following the suit is NetCents Technology Inc., a Canada based company. The company is releasing its own asset-backed cryptotoken called NetCents Coin.
The company’s decision to enter the digital currency sphere is driven by the demands of its growing customer base. The NetCents Coin is not meant to just a speculative token. It is designed to solve challenges posed by the volatile nature of its popular counterparts like Bitcoin and Ether, and their effects on consumers and merchants who wish to use them for daily transactions. While everyone would love to use cryptocurrencies for their sheer convenience and cost efficiency, there exist few pain points which NetCents intends to resolve (including high fees which are ubiquitous in traditional payment processing systems).
Few details about NetCent’s Currency includes
- The price for its pre-launching is set at $1.00 (CAD)
- The initial coin issuance is placed at 20 Million with no further release pending the realization of the minimum price of $1.50. Once the $1.50 threshold has been actualized, there will be a further release of 2.9 million coins. The price for the released 2.9 million coins will be $1.31. A further breakdown of these details can be found in this whitepaper
- The number of coins within its initial release is directly connected to the dollar value of the transaction in the NetCents merchant ecosystem.
Even though the official launch of the cryptocurrency is set for November, the pre-launch campaign started on September 19, 2017, at a discount of 25% and the initial price of $1.00 (CAD) per token.
Features of the NetCents Currency
- Tradable in the market
- Widely circulated and held
- It is supported by a Treasury Reserve Account (TRA)
- Your privacy is highly secured.
- There is a structured coin release to avoid anything such as price speculation
- Structured with fraud risk detection and counterfeiting prevention by leveraging the next-generation algorithms.
NetCents had earlier this month, issued a whitepaper unfolding the NetCents Coin (“NCCO”) which it will be releasing sometime in November. You can download the whitepaper here.
Importantly, NetCents is not conducting an Initial Coin Offering for its coin. Instead of ICO, it is launching the coin within its ecosystem. Besides this, NetCents will be promoting its coin as the authentic cryptocurrency alternative for your daily transaction and long-term storage. The NCCO is presently available for presale. The presales can be done here.
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