What Is Spotcoin?
Spotcoin is a platform designed to make digital assets/currencies accessible to everyone by providing simpe liquidity for everyone while closing the gap between the present financial market system and digital assets ecosystem.
Spotcoin was created to meet the increasing demand for fast digital to fiat currency trading/liquidity and the Spotcoin team intends to provide an efficient, cost-effective solution to users.
Spotcoin is building a toolkit and an interface that will help to integrate the whole digital asset ecosystem and simplify user experience. This amazing interface handle complex transactions with transparency which will build much needed trust found lacking in the present financial markets.
SPOTCOIN Yesterday, Today and Tomorrow
Spotcoin was launched in November 2016 and was able to process remarkable $1Million+ transactions just two months later. As a result of their efficiency in quickly delivering trades that were very close to the spot price at initiation of the transactions, the response was overwhelming. Hence, the need for expansion was identified.
With the aid of a partnership agreement, spotcoin has designed an environmentally friendly $3.25M facility that uses hydro-electric power which will house 2250 GPU miners and can host upto 9000 additional units. The spotcore engine will integrate each component of spotcoin toolkit while making navigation very easy. Spotcoin will redefine the market place for digital assets.
The SPOTCOIN Toolkit
- OTC Marketplace
- Exchange
- Mining
- Spotpay
- Black Sea Blockchain Institute
SPOTCOIN OTC Marketplace
The OTC (Over-the-Counter) is market where financial instruments such as currencies, stocks and commodities are traded directly between two parties. OTC trading has no physical location — trading is done electronically, online.
There are many fiat exchange limitations that spotcoin is fixing. To start with, there are fiat limitations which is why many exchanges put up withdrawal limits, then there is the issue of trust.
The SPOT solution is very interesting.
Spotcoin works with many banks in Europe to enable large amounts of bank transfer which will allow clients withdraw their desired amount without necessarily imposing a limit.
The issue of trust is also taken care of through the trading intermediary and escrow service that Spotcoin provides and reputation increased.
Automation tools are also being developed to grow the existing OTC business. As a matter of fact, Spotcoin is either meeting or exceeding client requirements. Interestingly any client who trades over $1m per month gets a spotcoin ambassador who would customize services for each trade the client makes.
SPOT Digital Exchange
Spotcoin main aim is to facilitate quick liquidity and provide various trading pairs especially for the Black Sea region since there are very few exchanges who meet the demand for digital assets in that region. The exchange will support about 10 fiat currencies (GEL, UAH, RON, MDL, RUB, BGM, TRY, AMD, EUR, USD). The exchange support team will be available in 5 languages, Russian, Armenian, Mandarin, and Georgian included. The primary trading pairs will be GAS, ETH, BTC and SIB (Sibcoin).
SPOT Mining
Georgia has been carefully chosen as Spot mining location.
Georgia has a remarkable hydroelectric power supply and is the second most popular country for bitcoin mining worldwide. Presently, all digital asset miners hosting mining services are exempted from VAT (Value-added Tax) in Georgia.
Spotcoin team will work directly with power plants to reduce mining costs. The SPOT team also has access to highly trained and experienced technicians to provide technical support for mining operations.
SPOTPAY and Black Sea Blockchain Institute
The spotpay tool facilitates retail payments in a wide range of options. It also provides a digital asset API and customizable user interface that can be integrated on other websites including shopping platforms.
Spotpay also makes transaction fees transparent and competitive.
Black Sea Blockchain Institute (BSBI) will be a technical/vocational college registered and officially recognized by Georgian authorities. The BSBI mission is to be a regional hub that advances the application and implementation of blockchain technologies through education, research opportunities and innovation.
SPOTCOIN INITIAL COIN OFFERING
Spot tokens will be priced at $0.5 USD per token for the public sale and the amount of tokens per contribution will be determined by the market prices. Spotcoin is offering 66.7% (66 Million tokens) for sale out of the Maximum SPOT (99 Million) tokens available. Any unsold tokens left of this 66.7% will be burned.
The remaining 33.3% is reserved for the Spotcoin team and treasury and tokens locked for a period of one year. All updates regarding token distribution will be published in financial reports. Transparency!
Spotcoin is a Neo Nep-5 token. Neo was chosen because of its open source, non-profit community-backed blockchain platform features and also because Neo was designed to address legal requirements for all digital assets.
CONCLUSION
Basically, the Spotcoin team saw the loopholes in the digital asset marketplace and has offered innovative solutions to provide easy accessibility and fast liquidity (fiat currencies and digital assets) for clients. The team uses its amazing toolkit and interface to achieve their goals. They’ve also chosen a great location for mining based on regulations and power supply.
Overall, the spotcoin team is experienced and they have a team of great advisors. I sincerely believe that Spotcoin will achieve its goals and missions because they've got everything I'm aware of that it takes for a project to be successful. Spotcoin has a viable project which fills a need, a great team, trained knowledge and experience, strategic partnerships, marketers, realistic roadmap and supporters. I can only see success here. Spotcoin is truly set to redefine the digital asset ecosystem!
Find out more about spotcoin on the website
Or checkout Spotcoin whitepaper
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