Citizenship Coin, or CTZ, is a new cryptocurrency for the “investment migration industry”. Find out how it works today in our review.
Citizenship Coin, found online at CitizenshipCoin.com, is a digital currency pegged to the Euro. Each Citizenship Coin (CTZ) is worth 1 EUR.
The cryptocurrency is specifically designed for something called the “investment migration industry”, also known as the CBI/RBI/EB-5 industry. The goal is to enable cheaper, faster, more efficient transfers within the investment migration industry.
As of April 2018, Citizenship Coin describes itself as an experimental digital currency. Over the coming months and years, however, the team will seek to partner with citizenship consultants, agents, lawyers, real estate developers, and governments to increase the usability of Citizenship Coin.
A token pre-sale for CTZ began in April 2018, with a main ICO scheduled for October 2018.
What Is Citizenship Coin?
Citizenship Coin is focused on the investment migration industry. The goal is to offer a frictionless digital currency for the investment migration industry.
In order to understand how Citizenship Coin works, we need to explain the concept of investment migration.
“Investment migration” refers to the practice of investing in a country in exchange for citizenship. These programs are also known as immigrant investor programs. The goal of these programs is to attract foreign capital and talented individuals to a country by providing the right of residence and citizenship in return.
Some countries also refer to these programs as citizenship-by-investment programs.
Overall, the concept of investment migration is relatively new, and countries only started offering such programs around 2006.
The United States, for example, has a well-known investment migration program called the EB-5 visa program. This requires overseas applicants to invest a minimum of anywhere from $500,000 to $1 million in a US project while also creating or preserving a minimum of 10 jobs. If these criteria are met, then the applicant may become eligible for a green card. The main restriction of this program is that it’s open to just 10,000 applicants per year.
Other countries offer similar investment migration programs – although they’re not available in all countries.
How Does Citizenship Coin Work?
There’s a total supply of 105 million Citizenship Coins. Approximately half of this total supply will be mined within the first four years – similar to how bitcoin rolled out. The coin supply will be reduced by 50% (half) every four years based on algorithmic difficulty. Overall, 50 million coins will be available between 2018 and 2022.
Why would you buy Citizenship Coin? What are the advantages of holding the token?
The main advantage and purpose of Citizenship Coin is easy international transferability. The currency will be available to freely exchange into major currencies like the GBP, USD, CAD, and CHF in the future. You’ll pay a 1% foreign exchange fee while also completing KYC/AML verification to complete the transfer.
Today, investors seeking to invest in a country in exchange for citizenship will pay costly foreign exchange fees. Banks charge anywhere from 2% to 3.5% when exchanging foreign currencies, for example. Many immigrant investor programs require investments of $500,000 to $1 million, so a 3.5% fee on these amounts can add up to a lot of money.
To facilitate foreign exchange of Citizenship Coins into fiat currencies, the development team will launch its own Citizenship Coin Exchange using funds raised during the ICO. That exchange will support fiat currencies in all major countries with immigrant investor programs.
The Citizenship Coin ICO
The Citizenship Coin pre-ICO began on April 18, 2018. The company is selling 1 million tokens during the pre-ICO.
The exchange rate is set at 1 CTZ = 1 EUR.
The main ICO phase, meanwhile, is scheduled to begin on October 19, 2018, with a second ICO phase beginning on March 20, 2019. A third phase is scheduled for September 2019, with the final phase scheduled for December 2019.
The Citizenship Coin team has already released wallet software for Windows, Mac OS X, and Linux.
- About trust Citizenship Coin ICO On CTZ
- Token Symbol: CTZ
- Token Pre- Sale Starts: April 2018
- Token Sale Ends: Dec 2019
- Token Price: 1 EUR
- Total Supply: 105 million
Citizenship Coin Features And Benefits
We already have currencies that can be transferred around the world with minimal fees – including bitcoin and other popular tokens. Why do we need an entirely new token specifically for immigrant investment programs? Here are some of the features and benefits disclosed in the Citizenship Coin whitepaper:
- Payment Freedom: Citizenship Coins can be sent anywhere in the world at any time. There’s no need to trust a centralized bank or government.
- Choose your Own Fees: There’s no fee for receiving Citizenship Coins. The only time you pay a fee is when you transfer Citizenship Coins to a fiat currency through the platform, in which case you’ll pay a 1% fee.
- Privacy: Citizenship Coin transactions are secure, irreversible, and do not contain the personal information of the investor. Merchants are protected from losses and chargebacks while investors enjoy a high level of privacy.
- Security and Control: Citizenship Coin users have full control of their transactions. Your money is encrypted and secured using private keys.
- Transparent and Neutral: All Citizenship Coin transaction data can be viewed online at any time.
- Anonymity: You don’t need to setup an account or verify an email address to use Citizenship Coin. Instead, your wallet can be accessed anonymously.
What Problems Does Citizenship Coin Seek To Solve?
The Citizenship Coin team believes there are several major problems in the immigrant investing industry. Some of the listed problems in the Citizenship Coin whitepaper include:
The immigrant investing industry is not ready to accept cryptocurrencies or blockchain technology; the industry is falling behind the rest of the world
Acquiring second citizenship is a long, expensive, and difficult process involving lots of paperwork and delays – especially when foreign investments are required
The industry relies entirely on banks and governmental institutions for payments, which means they pay high fees and suffer with long wait times
The industry struggles to verify clients based on KYC/AML verification requirements
Who’s Behind Citizenship Coin?
Citizenship Coin is being developed by Ajax Software, LLC, a Hungary-based company. The project is led by Mr. Balakrishnan.
You can view the Ajax Software LinkedIn page here. The Budapest-based company specializes in open-source software development. It was founded in 2011. You can view the company online today at www.ajaxsoftware.hu.
Citizenship Coin Conclusion
Citizenship Coin is a cryptocurrency in development by a Hungarian software company. The currency is designed with a simple purpose: to introduce a frictionless transfer method into the immigrant investment industry.
Today, many wealthy individuals worldwide seek a second citizenship. Countries like the United States, Canada, and the UK offer immigrant investment programs. Under these programs, individuals seeking citizenship are required to invest a certain amount of money into their new country in order to receive a chance at citizenship. Today, the industry is fraught with expensive transfer processes, long wait times, and other issues. Citizenship Coin wants to solve these problems.
The token pre-sale for Citizenship Coins is taking place throughout April 2018, with a main ICO scheduled for October 2018. To learn more or to stay up-to-date, visit online at CitizenshipCoin.org.