EF Hutton Declares Plan to Launch MeggaCoin, Allowing Users to Mine Crypto Via Social Apps
On Monday, September 17, stock brokerage firm, EF Hutton announced its plans to launch private utility token, MeggaCoin. The release date has been scheduled for October 1st, 2018, with claims of token mining achievable through the “MeggaLife Family of Social Apps”.
As per a published report, MeggaLife.com was created with the intentions of ensuring that users get compensated for the sharing of their data, as well as their presence on social media. As a reward, the social platform decided it would allow its users to mine the token itself.
Getting paid is supposedly simple, as reported by Globe News Wire, who noted that users can “bank their coin” in an EF Hutton account. Once users manage to hold about 20 million MeggaCoins, they will be given the opportunity to convert their holdings into cash, which will be conducted via an independent trust called MeggaTrust.
How to Get Started
Interested in getting paid for your data and social media presence? The team involved has supposedly made the entire task of mining the token to be as simple as possible, attracting investors of all expertise levels. Users are not required to set up a digital wallet, as the token accumulation can be done via EF Hutton’s accounts, which are tax-deferred. As for getting started, users are clearly required to set up an EF Hutton account, which only takes five minutes.
Interesting Factors that Make this Project Reasonable and Favorable
What makes an EF Hutton account attractive is the fact that the firm itself is regulated, compared to the many crypto businesses that fail on this criterion.
Similarly, users are dealing with a platform that offers low costs, as one only has to invest a one-time fee of $5, which is nothing compared to growing transaction fees.
Various Mining Plans to Choose From
Next, four different MeggaCoin mining plans have been offered that best reflect individualistic needs and capacities.
MeggaCoin Backed by a Trust and Emphasis on Privacy
Commenting on the potential MeggaCoin has in benefiting a wide range of players is the CEO of EF Hutton, Chris Daniels. Daniels states that the time has come for users to decide between two options, which are:
“Either: give your data to the giant social media companies for free or use MeggaLife to mine MeggaCoin and Bank the full value of your social data and online social activity.”