Last updated on October 17th, 2017 at 12:54 pm
There are thousands of altcoins floating around in the cryptocurrency world today. A majority of these coins never take off, never achieve noticeable value, and never get the support needed to become a viable form of currency. Every now and then, success emerges from the pool of failure. Today, the next big hit has formed. Investcoin, announced just hours ago, is a revolutionary cryptocurrency with features not seen anywhere else.
March 16, 2015 is the day Investcoin announced its presence on the bitcointalk forums. The concept of the coin is unlike that of any other altcoin on the market today. The announcement begins with the vision the creators see for Investcoin:
“We want to present a revolutionary coin, which will rise the cryptocurrency market to a higher level. You will be able to trade stocks, forex currencies, CFDs, indices and commodities. All directly from wallet.”
Through the Investcoin wallet, users will be able to perform a number of actions. Most importantly, Investcoin users can check current stock prices and invest using their coins, directly from the wallet. Users can check the value of current stocks, along with a live chart, and invest at the click of a button.
Investcoin has already spoken with a broker. The announcement claims that they are “finalizing negotiations with one of the largest online brokers.”
Another feature unique to the altcoin is their automatic loaning feature. The announcement states, “InvestCoin wallet will also have an innovative service of borrowing coins. Each user will be able to borrow up to 10% of his coins. When the loan is concluded, the coins are blocked and deducted from your stock exchange account. At the time of conclusion of the loan, after clicking on “use last loan” the borrowed amount of coins is added to the value of invested coins. This allows you to invest more assets than you have in the wallet. If the contract is terminated with a profit, coins are unlocked. If with a loss, then the blocked with amount of coins from the loan is lost. This is an additional risk, but allows for greater profits in shorter time.”
Of course, the loaning feature also functions from within the wallet. These loans help to encourage investment, as loan amounts are kept as profit as long as investments gain value. There is greater risk from this type of loan, but it also provides for much higher profits in short term investments.
As for the coin itself, Investcoin plans create 128,000,000 total coins. 50% of these coins will be premined, with 40%, 9%, and 1% being used towards an IPO, Wallet trading fund, and prizes, respectively. Users can purchase coins through the IPO at a rate of 300 satoshis per investcoin. Mining block rewards will start at 1000 IC coins per block and a block time of 1 minute each.
Investcoin has received support and positive comments from announcement viewers so far. As always, many are wary of the legitimacy of this altcoin. To help ease concerns, one trusted user has agreed to provide escrow for the coin.
Investcoin may just be the next revolutionary altcoin, and the early adopters always prosper in such a case. At the very least, give the unique coin a look. The many features embedded into the wallet certainly set the coin apart from the rest.