Bitquence is a Palo Alto-based cryptocurrency wallet platform. The company is currently preparing for its token crowdsale, scheduled to launch on June 28. Here’s our Bitquence review.
What is Bitquence?
Bitquence is a cryptocurrency wallet provider based in Silicon Valley. In addition to offering a wallet, the platform comes with portfolio management features and its own liquidity network.
The company wants to make the cryptocurrency world more accessible to newbies – and more usable and transferable.
Bitquence will offer “baskets” of cryptocurrencies you can buy. These baskets are pre-curated. Some baskets are more stable – they predominantly include Bitcoin and ETH, for example. Other baskets are more volatile and come with a higher risk/reward.
The overall goal of Bitquence is to modernize asset allocation in the cryptocurrency industry. Today, cryptocurrencies have a market cap of $100 billion. However, asset allocation information is primitive by comparison. Bitquence wants to make cryptocurrencies a more legitimate investment vehicle by modernizing asset allocation.
With Bitquence, you can own multiple cryptocurrencies without having to hold onto multiple wallets or conduct multiple purchases. Plus, you can enjoy better liquidity eve across the more obscure altcoins.
Bitquence’s crowdsale will take place on June 28. The company aims to raise 5000 ETH. Funds will be used to develop and launch the platform. Backers will receive BQX tokens in exchange for their investment. The tokens will be used to access products and services on the Bitquence ecosystem, including management and storage fees. The tokens will also be used to create liquidity throughout the network.
If you contribute ETH to the crowdsale, you’ll be eligible for early beta access to the Bitquence platform.
How Does Bitquence Work?
Bitquence is a combination between a wallet and an investment service. The company makes it easy to participate in the digital economy. With one click, you can purchase a basket of cryptocurrencies designed with specific investment goals in mind. That means investors can participate in the digital economy while still protecting their investment. Instead of just buying a bunch of ETH and BTC, for example, you can expose yourself to new markets while still relying on a stable backbone of the more popular cryptocurrencies.
There are multiple types of portfolios available. You can choose from a range of curated Asset Allocations, for example, or choose from Community Allocations (curated by the wisdom of the crowd).
To help investors get started, Bitquence has published documents like their “Summer 2017 Crypto Currency Guide”, which features the top 22 cryptocurrencies on the market today. You can learn about different upcoming cryptocurrencies and discover which ones might fit into your investment portfolio.
A key part of the Bitquence system will be the Bitquence Liquidity Network, which allows payments of any type to be sent anywhere instantly.
Some of the key features of the Bitquence platform include:
Security: “State of the art digital security ensures that your assets are safe with us”
Simplification and Transparency: All asset allocations are transparent and fully accessible. You know exactly what you’re buying. You don’t have to buy into some mysterious fund or invest in something without knowing the exact details.
High Liquidity and Access: All asset allocations only diversify in liquid assets, which means it’s easy to deposit and withdraw your money at any time. You can also use the Bitquence Liquidity Network to send payments anywhere instantly.
Easy to Setup: There are no setup fees or hidden costs. Rapid asset allocation and managed wallets let you diversify value quickly.
Community Consensus: Take advantage of crowd wisdom with Community Allocations, which are managed by the community.
Mobile Wallet: Bitquence is mobile friendly, which means you can monitor and transfer allocations on-the-go from wherever you are.
The Bitquence Token Sale
The Bitquence token sale will open on June 28 at 2pm UTC.
All funds raised in the token sale will be used to develop and launch the platform. They’ll also be used to ensure compliance with local laws and regulations.
There will be a soft cap of 40,000 ETH. Early participants in the crowdsale will be able to access BQX at a rate of 5000 BQX to 1 ETH. A sliding scale will be implemented throughout the sale to eventually reduce the rate to 3175 per 1 ETH.
The BQX token will power the use of the Bitquence platform. It will also contribute to the Bitquence Digital Liquidity Network and the development of the Bitquence platform.
Who’s Behind Bitquence?
Bitquence is led by CEO Shingo Lavine. In a press release announcing the launch of the crowdsale, Lavine described how the cryptocurrency industry needs a platform like Bitquence:
“We can see the rising popularity of cryptocurrencies through a market cap that now surpasses $100 billion, but the tools to help the community are way behind the curve. Our aim at Bitquence is to accelerate the digital economy by providing much needed guidance on asset allocation within the cryptocurrency market. Our platform users can simultaneously purchase many tokens instead of having to own and manage multiple wallets and thereby restore the original democratic intent of the new digital economy.”
Other key members of the team include Maurice Herliphy, an expert on Ethereum smart contracts and distributed autonomous organizations, and Adam Lavine, a mobile developer with extensive corporate experience.
Ultimately, Bitquence aims to accelerate the adoption of cryptocurrencies. The company was formed with the goal of modernizing asset allocation in the world of cryptocurrencies. Cryptocurrencies have a market cap of over $100 billion, but the asset allocations tools to help the community are way behind the curve. Bitquence aims to solve that with its wallet, exchange system, and curated asset allocation packages.
Bitquence is preparing for its crowdsale on June 28. Stay tuned for more information about Bitquence as the company continues to roll out its platform over the coming months.