Ambisafe is a platform that allows companies or individuals to issue any type of asset on the blockchain in minutes. Find out how Ambisafe works today in our review.
What Is Ambisafe?
Ambisafe, found online at Ambisafe.co, is a platform that makes it easier for anyone to create blockchain-based digital assets. Using Ambisafe, you can issue a blockchain-based asset in minutes, then add it to cryptocurrency exchanges worldwide.
In other words, Ambisafe makes it easy to launch an initial coin offering, or ICO. You can use Ambisafe to issue an asset, sell it to users, and then allow users to store and trade that asset.
How Does Ambisafe Work?
Ambisafe issues Ethereum tokens through its platform. The platform also comes with an assets manager that allows for asset issuance and management, white label wallets that can be used by token holders, and listing assistance – like “Fast Track Listings” to get your token listed on exchanges worldwide.
Basically, Ambisafe walks companies or individuals through the entire ICO process. The company provides you with a wallet that will store your digital assets. That wallet will also accept payments from users participating in your ICO.
Furthermore, if you need help getting listed on exchanges, Ambisafe will work with you to get your asset listed. Ambisafe charges you a fee for each successful listing.
How To Use Ambisafe
The best way to understand how Ambisafe works is to read how to issue an ICO through the platform.
Step 1) Issuing The Asset:
The first step is to issue your digital asset (i.e. the asset that will be purchased by investors in your company). To issue a digital asset, register at the Ambisafe and create a Master Wallet.
At this point, you’ll be the owner of the whole amount of tokens. Before you continue, you need to add at least 2 more owners. To prevent ICO fraud (say, by one single owner running away with the total amount raised), Ambisafe requires two confirmations for each Master Wallet operation. These confirmations are enforced by a smart contract and cannot be skipped.
Step 2) Purchase A License:
The next step is to purchase a license for the Ambisafe Investor’s Wallet. This is a Python and Django-based web application that can be installed on your server and whitelabeled to your specifications. In order for the wallet to function, you’ll need an Ethereum node or an Ambisafe Supernode SaaS subscription. You’ll also need key-value storage (Ambisafe also provides this through their Keystore SaaS subscription).
Other requirements include the Ambisafe Keyserver SaaS subscription, which allows you to accept bitcoin as a payment method, as well as the MySQL or PostgreSQL database for storing the rest of the wallet data.
Step 3) Negotiate With Exchanges:
Talk to exchanges to add your asset to their list of supported tokens. At this step, you can also configure the trading backend to allow token purchases only from your account, disable withdrawal of your asset from the exchange until the ICO is finished, add bonuses for early participants, start the sale at the specified time, and announce the sale in the exchange’s mailing list and notifications.
Once details of the ICO are agreed upon, you should send a reserve of tokens to the deposit address of your account at the exchange, allowing users to purchase them during the ICO.
Step 4) Destroy Unpurchased Tokens:
All unpurchased tokens should be destroyed. You can do this through the Ambisafe Master Wallet. Just withdraw to your Master Wallet cold storage address, then use the Revoke command.
Throughout this process, you can manage the ICO using the wallet admin panel, where you’ll see the address of the token reserve. This is the back-end of your wallet and, by extension, the back-end of the ICO. Ambisafe also has extensive testing services where you can test the process using a non-valuable asset – so you can get familiar with how the purchase process works before you start.
Ambisafe’s founding team has been pioneering cryptocurrency development since 2010. They started by making alternative consensus algorithms in 2010 before launching the first multi-currency wallet in 2014 (HolyTransaction).
Ambisafe was founded in 2015. You can contact the company by email at [email protected]
Ambisafe has a straightforward pricing system. You can view complete details about pricing on their website. Here’s a basic overview of the most important fees:
- Asset Issuance: Customized pricing available either per asset or lifetime
- Supernode: $300 per month
- Event Notification Service: $0.002 per notification
- MasterWallet: $10 per transaction
- Key Storage: $0.002 per entry per month
- Web Wallet: $0.005 per user per month
- Ether Faucet: $0 per transaction
- Recovery Oracle: $1 per transaction
Exchange Listing Assistance
Ambisafe offers customized pricing plans if you wish to get assistance with listing your token on an exchange. Here’s what the process looks like:
- Step 1) You sign a service agreement and pick the number of exchanges you wish to target
- Step 2) Ambisafe picks the list of exchanges that should be a good fit for your digital asset
- Step 3) You pay integration fees to the exchange where applicable
- Step 4) You pay the listing assistance fee to Ambisafe for each successful listing
Ambisafe doesn’t list the fees for this service upfront. However, like most of their services, they encourage you to contact them for customized pricing information.
Need help launching your ICO? Not sure how to create a digital asset, accept payments for that asset, or get listed on exchanges? Ambisafe can help you do all of these things. Learn more about the service today by visiting Ambisafe.co.