Presently businesses are coming to terms with the growing percentage of Cryptocurrency users. Therefore, most of them are stretching out of their way to accommodate this market segment thus encouraging the use of crypto payments in their line of work. However, some great percentage of people don’t know what the likes of Bitcoin are all about, thus need platforms such as Bit-point to help them out.
Bit-Point is a blockchain enabled ATM digital currency purchase point that works to allow individuals by cryptocurrencies of their choice with the help of their mobile phones. The users need to have a digital wallet that would allow them to upload the digital currency through configuration, which takes a few minutes to complete.
To enhance the performance of the Bit-Point project, its developers have plans in place to provide the following tools for better digital-currency buying ventures;
• Ability to select the Cryptocurrency they need at every purchase
- QR code portfolio scanning for authentication purposes.
- The insertion of an equal amount of fiat currency to foster the purchase
- BTP token for transaction and investment purposes
- Bit-Point Wallet for storage of tokens and currencies.
- Bit-Point App for better currency management
The wallet which is set to come up in future will conform to online, desktop and App format.
How Does Bit-Point Work?
Users of the Bit-Point ATMs will have to possess digital wallets in their mobile phones that would assist them in the Cryptocurrency uploading process. Information on the whitepaper reveals that the developers will launch their wallet in future for easy use. Once you get a wallet, you can now walk to the nearest point and conduct your transactions.
Furthermore, users can use their digital currencies to invest or conduct purchases in acceptable stores. However, for store purchases, users will have to scan their mobile devices with a QR code they receive from the merchant to complete the transaction.
You can also choose to invest by buying tokens, which will give you a percentage of income from the transaction fees at the ATMs. The distributions will depend on the number of tokens one holds. Users of the Bit-Point App can access history of transactions, view their balance, access the piggy bank function, transfer funds to another portfolio and enjoy other new features.
Bit-Point ICO Details
The distribution of the BTP tokens would take place in one stage;
- Token Symbol: BTP
- Token Sale Starts: June 1, 2018
- Token Sale Ends: June 22, 2018
- Total Supply: 195 Million BTP
- Token Standard: ERC 20
Compatible wallets for this include myetherwallet as the main with others such as metamask and classicetherwallet support.
The bonuses would include; 20% first week, 10% second week and 0% third week. On the other hand, the token distribution would involve 75% ICO, 10% reserve and 15% team. The use proceeds will go by 5% reserve, 15% marketing, 40% development, 10%legal and 30% infrastructure.
Most people who love the conveniences that normal ATM machines bring to the daily transaction would love the Bit-Point project. But is it really as rosy as it sounds? So far, the projects seem well composed with a long-term sustainability plan. However, we cannot assume that everything will be up and running within no time as these kinds of machines have their challenges. Therefore, you should invest in this with an open mind ready for any outcome.