It's a bold statement considering all of the craziness we have seen recently regarding ICOs and a shaky crypto market, but PlexCoin, a new Decentralized Cryptocurrency claims to be "The Most Important ICO This Year."
I decided to take a closer look into this company and hopefully get some feedback from our awesome crypto community about whether or not it may live up to it's self-professed hype.
From the PlexCoin Website:
"What is a PlexCoin?
The PlexCoin is a cryptocurrency (private internet currency) that has a value based on the current market. In other words, PlexCoin is an open source worldwide currency entirely decentralized without central authorities. This means that your transactions will not be managed or verified by any traditional banking institutions. Users can now control their own finances privately.
In comparison to Bitcoin (45 minutes), the transactions (deposit, withdrawal, purchase, sale, transfer) of PlexCoin are faster (30 seconds) to confirm and have an increased storage efficiency.
The PlexCoin’s new revolutionary operating structure is safer and much easier to use than any other current cryptocurrency.
This suggests an important success of the PlexCoin as soon as it launches."
My Take: So far it sounds like just another currency that could fall by the wayside in this mess of cryptos that we are all trying to make sense of. But, as you'll see, they have a few value propositions that really do make them stand out.
They are using the Ethereum blockchain and claim to have 30 second transaction times... Right. Have you sent ETH lately? As far as I know (I'm no expert) there isn't yet a platform that works this fast with even a moderate amount of users at any given time (unless EOS lives up to its promises).
This is where it gets good...
"Even more?
With your PlexCoin, you will be able to do your normal transactions and spend your money with your PlexCard VISA© card anywhere around the world. You will also be able to send or receive funds from anyone in a totally private way.
With the PlexWallet, you can exchange your PlexCoin for Bitcoins, Ethereum, Litecoin or even buy and sell your PlexCoin for CAD, USD or EUR dollars.
With Plex Bank, one of the available feature will be to secure your cryptocurrency from market variation, which is highly volatile, and place your money on interesting guaranteed returns. PlexBank – The first private cryptobank.
My Take: Wow. This could be a game changer. They are obviously trying to minimize the current barrier to entry that is, quite obviously, the biggest problem in the cryptocurrency market. A single platform that can both trade and spend currencies with instant conversion to fiat using a VISA is exactly what we need. But it seems a few companies like Tenx PAY, Coinbase's Shift Card, and Xapo have beat them to the market on this one. But wait, guaranteed returns? Is this a sub-wallet that you pay into in order to reserve a certain market rate? Pretty cool.
When looking at this pitch from a non-tech savvy consumer perspective, I definitely see the value. If you incorporated this with something like Bitquence... we could be making huge strides.
They claim that, for a 5% fee, you can instantly convert PlexCoin to fiat currencies without the need for an external exchanges. By offering four services/products including: PlexCoin, PlexWallet, PlexBank, and PlexCard, they have integrated services which are currently spread between multiple platforms and aren't very user friendly for the common consumer.
They also have a pretty good looking mobile app that looks clean and easy to use.
This is all, of course only speculation, as their white paper isn't available until August 4th. Make sure to follow me on Steemit for updates as we move forward.
The Pre-Sale Registration began on July 3rd and the we will be able to invest on August 7th. They already have a massive waiting list for investments, so get in soon if you're interested. If we have learned one thing lately, its that ICOs are volatile and sometimes seriously profitable. But i am a firm believer that you must have faith in the technology, the team and the company before you blindly invest (UET).
Overall I think this project looks awesome and may be just what this industry needs in order to take it's next step towards mass adoption. I have countless friends that ask how to get into cryptocurrency on a regular basis, only to be completely overwhelmed when I stand explaining the blockchain and ICOs. With several new companies such as Tenx, Bitquence, and PlexCoin, it seems as if we are on our way towards a more user friendly crypto world.
Make sure to use my referral link to get an extra 5% bonus on your investment and help me get a 5% bonus too! We'll take whatever we can get.
https://www.plexcoin.com/?ref=SKNj6ADp7j
https://www.plexcoin.com/?ref=SKNj6ADp7j
https://www.plexcoin.com/?ref=SKNj6ADp7j
Is this going to be the "Most important ICO this year?" Lets hear what you have to say in the comments...
"Money is in the gut. Passion is in the heart. And money should be a side effect of intelligently applied passion."