Digi India Coin, shortened to DIC for brevity’s sake, is a new cryptocurrency currently in ICO. Self-described as a “hybrid, peer-to-peer” cryptocurrency, there doesn’t seem to be much that differentiates DigiIndiaCoin from all the other new altcoins that crop up constantly. Here’s what we know about it.
What Is Digi India Coin?
DIC was developed by Digi India Coin, an anonymous group of cryptocurrency enthusiasts. Both the DIC website and the whitepaper PDF on that website do not publicly name any of these developers, instead only referring to them as former business leaders from India, the United States, and Turkey.
As DIC’s main purpose is to provide India a native cryptocurrency, it’s obvious the digital coin is being marketed specifically for that country. It’s like that’s where it’s located. That’s all the information we have, as the site was registered anonymously as well according to its registration data.
DigiIndia Coin Product
Right now, the only thing you can do with DIC is to purchase its currency. As of this writing,
its ICO is open and runs until November 15, 2017; initial price is $1 USD per coin until 25 October, $1.50 USD per coin until 5 November, and $2 per coin until 15 November. The total number of coins available in the ICO is 500,000 units. The ICO has been postponed as they are in the process of creating a deal with a crypto wallet QuikCoin. They are also working on a new website design as well. Their total coin supply will be 22,105,263 which they will only be selling a total of 1,100,000 during the ICO.
They are in the process of creating a new whitepaper to update the public about their new offering.
After the ICO is completed, DIC plans to make its currency mineable by the general public.
Digi India Coin Opportunity
The opportunity with DIC’s new crypto token is the same as all new digital currencies – invest in it in the hopes it will increase in value.
Additionally, DIC plans to attempt to forge business partnerships online in India to have its token accepted as currency, allowing individuals who hold it to buy and sell goods and services.
Digi India Coin Verdict
What can we say about DIC and its new cryptotoken? Is this yet another altcoin, already destined for the dustheap of cryptocurrency history? Will it take off with wild abandon, making its investors rich beyond their dreams?
There’s no real way of knowing with digital currencies, but we’re not really anticipating a massive uptake in this new currency. It doesn’t really do anything different from any of the other currencies out there, though we suppose it provides avenues for investors to get caught in typical “pump and dump” schemes.
The possibility of these occurring is likely to be lower, as it’s not a pre-mined currency, but with market forces being what they are we wouldn’t be surprised to see a price drop right after the ICO, especially since DIC will be ratcheting up the price per coin steadily until the end. It might not result in a major roller coaster when it comes to valuation, but it’s still something you might want to keep an eye on.
Best bet? Mine some of the token when it becomes available and sell it, as long as you make enough money to cover your electric bill that is.