The popularity of cryptocurrency crowdfunding efforts has exploded in the past year. Thousands of startups have made use of Initial Coin Offerings to provide the beginning funds for innovative and massively successful businesses. Naturally, the success of this blockchain funding model has created an industry need for new and innovative ways for companies to make use of blockchain technology to create exciting products.
Cybit presents itself as a “springboard for startups.” Boasting a variety of benefits and improvements to the traditional business model for crowdsourcing funds, this ICO platform seeks to revolutionize the way that startups do business, and the way that investors interact with this quickly-evolving market.
Still, navigating the complicated technical terms which underscore this particular platform can be difficult. Consequently, this guide has been created to outline some of the key things that potential investors need to keep in mind before becoming financially involved with Cybit, an exciting and new crowdfunding platform.
What Does Cybit Do?
Put simply, Cybit simplifies and expedites the process for the creation of Initial Coin Offerings. In the status quo, ICOs are created through a strenuous process. Companies must create their own currency on the blockchain, a task which requires significant technological understanding. Once this is done, the budding startup must then find a way to publicize their coin offering, creating a unique platform that allows consumers to gain access to their product and currency.
Cybit sidesteps this entire process. They offer both a pre-created platform and their own decentralized currency, known as CBT coins. Additionally, a wide variety of unique security features that help to provide a personalized a safe way for consumers to invest and for companies to secure the funds that they need.
Marking a key distinction in funding strategies, Cybit offers three separate ways to run fundraising campaigns: Initial Coin Offering, Crowd Investing, and Crowd Funding. This separation of strategies allows startup companies on the blockchain to pick the form of funding that best provides for their situation and their needs.
Cybit CBT Token ICO Details
The most up-to-date information on this ongoing fundraising process can be found on the company’s ICO website. As of now, the organization has managed to raise $265,311 in their own coin offering’s presale.
Perimeters Of The ICO
- Token Symbol: CBT
- Token Sale Date: 05/10/18 – TBD
- Accepted Payment Method: ETH, BTC & LTC
- Total Supply: 8.5 Billion
- Token Standard: Ethereum
- Soft Cap: 2,500,000
- Hard Cap: 50,000,000
Though the company lists several major benefits to their platform, there are a few key components which help to set the service apart from other methods of crowdfunding present on the blockchain. In particular, the company stresses the flexibility of their system as a selling point of the platform.
The blockchain infrastructure of the Cybit system is one major feature that the company cites for its product’s success. Their site elaborates that they use the blockchain to provide a “unique identity” for each node. As a security measure, this is an incredibly effective way to ensure the viability of the system and prevent fraud.
Capitalizing once more on a desire for a safe and user-friendly experience, the company also highlights “easy token integration” within the platform. “Doing work” helps to earn users token, and ever node has its own, unique token.
From a structural perspective, Cybit has a lot to offer the cryptocurrency and ICO community.