Transfering money globally isn’t cheap or fast
Even though the financial market has evolved a lot ever since it was invented, there are still certain things which are far from optimal. One of those things is the fees and waiting times associated with transferring money globally. Depending on which intermedia you use, you could end of paying more than $10 just to transfer some money to another. Besides that, bank transfers normally take 1-3 business days to settle. Even with growing digitalization of the entire world, global money transfers are still not fast or cheap, but XferMoney is aiming to change this. They are going to utilize the blockchain technology to make global money transfers fast, easy and secure for everyday consumers, businesses, and companies.
The XferMoney Platform
To make transfers as convenient as possible, exchange rates for currency pairs will be determined automatically by the XferMoney platform. These rates will be the best there currently is on the market and will be the same for buyer and seller. XferMoney aims to bring the cost of transaction fees down to almost zero. On a yearly basis, almost 500 billion dollars are transferred across the globe by 230 million people, so the need for a better product is definitely out there. To make the usage of cryptocurrencies even easier, XferMoney is creating their own multicurrency debit card.
To fund their project, XferMoney is raising funds through an initial coin offering (ICO), selling their ERC20 token XFM. This token is going to be an essential part of the XferMoney platform. XFM will be used to reward participants of the XferMoney platform and will also be used to pay fees for carrying out money transfers.
The token sale starts 16th of February
The token sale ends 31st of March
8000 XFM = 1 ETH (Bonuses apply to different phases, the current bonus is 35%)
- Total amount of tokens issued is 250.000.000 XFM
- A maximum 87.500.000 XFM will be available for purchase during the token sale
- Hard cap is 5.000.000 US dollars
- Soft cap is 1.000.000 US dollars
The project started back in 2017 and is expecting to release the alpha version of their main product in Q4 of 2018. Rest of the features expected as per their roadmap below.
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
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