The critics of the cryptocurrency market often state that the cryptocurrencies do not have real value because nothing is actually backing them. Companies like CaskCoin we invented to solve this problem. Today CaskCoin will be the subject of our review.
What Is CaskCoin?
CaskCoin is a cryptocurrency which will be backed by a real asset: whisky. The company will combine the blockchain technology with the physical asset of maturing Scotch Whisky to create a cryptocurrency which will have a real motive for its price and it will not just vanish from the market in a single day because it is not worth anything.
This cryptocurrency was created for investors who want to invest in the Whisky industry, something that only a few rich and knowledgeable people could do before the rise of the blockchain technology. The company explains that the whisky industry is very profitable and it represents almost a quarter of the United Kingdom’s exports of food and drink and more than 9000 people are employed by this industry.
Investing in beverages like whisky (or wine) can be very interesting because they tend to get better over time. A whisky made today would take a long time before it was turned into a valuable old-whiskey. Because of this, investments like these tend to get a lot more valuable over time.
The team which makes the company is composed by Ricky Christie (operations director and whisky expert with more than 40 years of experience), Barry Millar (finances), Tobias Hauser (non-executive chairman), Walter Russell (non-executive director), Brendan Smyth and Paul Benson (technology and blockchain experts).
How CaskCoin Scottish Whisky Production Crypto Token Works
CaskCoin is an ERC20 token which is based on the Ethereum blockchain and it represents shares in the owning of Whisky made in Scotland. These tokens will act as shares of the whisky barrels owned by the company. You will be able to receive dividends from holding the CaskCoin tokens over time.
You can also use this cryptocurrency for the same things that you would use any other proof of stake cryptocurrency. You can stake it and help the blockchain to validate transactions (which will give you some profit) and you can trade this tokens on the market or use them to pay for goods and services online.
Every transaction that you make using CaskCoin will be stored on the blockchain and will be public for anybody who wants to see it. While the transactions are public, your name will be protected, so there is no need to worry about your identity.
How To Invest In CaskCoin ICO?
Are you interested in investing in Whisky using CaskCoin? Then you should invest in the upcoming Initial Coin Offering (ICO) of the company. The sale will start on March 12 and it will last until March 30. You will have to pay £8.15 GBP per token, but you will be able to have bonuses which will range from 10% to 2.5% if you invest during the first 10 days of the ICO.
A total of 5,200,000 tokens from the total supply of 6,500,000 CaskCoin tokens will be sold during the sale. Most of the funds (almost 90%) will be used to buy stocks from whisky to invest in them.
Is it a good idea for you to invest in a company like CaskCoin? Yes, it can surely be. Many people decide to invest in silver or good or even art pieces, but investing in goods like whisky can be a very interesting alternative for you if you are concerned about having a token which will be really valuable in the future.
While we believe that cryptocurrencies like Bitcoin will last, we simply cannot be sure of that. In the case of CaskCoin, though, the company will only get more valuable after 20 or 30, ensuring that you will be making an investment which will definitely take some time to give a great return on investment but that will be huge when the whisky that you bought will be older.
We advise our readers to invest in this company if they actually have the necessary time to wait for the big return on investment that this company can offer to them. CaskCoin can be a great investment for you, you have to be patient.