There is little doubt that the surge in bitcoin price was a significant boost in the growth of mining among cryptocurrency enthusiasts. However, not everyone who wants to get in on the technology can honestly stand the technicality of the technology.
For the sake of those who have not fully caught up with the technical know-how, ventures such as FiveStar Mining Network do present a less sophisticated means to understanding cryptocurrency mining. Here's how investing in their token could gain you a share of apparent physical mined cryptocurrency tied to hardware components.
What Is FiveStarMiningNetwork?
FiveStar Mining is a blockchain-based venture that seeks to allow its users to get a share of the revenues made from cryptocurrency mining operations. With their crypto token, FiveStar Mining Network will receive the backing of other cryptocurrencies mined by the platform's hardware. The mined coins go into a profit-sharing mechanism with the investors while part of them also go into being sold to facilitate buying back of the token from holders.
How FiveStarMiningNetwork Cryptocurrency Coin Works
With revenues made from cryptocurrency mining rising from after each year FiveStar Mining Network is looking to focus on becoming part of their big market. Their ERC20 token (FSMN coin) will have the backing of minder crypto coins such as Bitcoin, Ethereum, and Tron.
80% of the mined cryptocurrencies will go into a sale that funds expenses for utility bills, maintenance, and other costs. The rest of the profits go into buying the coins from exchanges and token holders. That is in line with their strategy to create a market control through scarcity that ultimately creates value.
The ambitious plan by FiveStar Mining is still subject to scrutiny since mining ventures are known for pretty much turning out to becoming scams. FiveStar is already minting intends to make use of blockchain to secure the investors' finances and pay-outs.
At an early stage, FiveStar hopes to allow investors to trade FSMN coins in exchanges. Additionally, late developments will include the currency going into use for purchasing products on the FiveStar Mining Network. These products will centre on ICO listing services, advertising, and competitive exchange fees. There is also news on the latest ICO's, crypto advertising, e-wallets, and debit cards.
FiveStarMiningNetwork FSMN Token ICO Details
- August 2018
- 1 ETH = up to 900 000 FSMN
- 1 BTC = up to 1 125 000 FSMN
- Up to 50% bonus
- 2 000 000 000 FSMN on a private sale. All unsold tokens will be burned.
- September 2018
- 1 ETH = up to 780 000 FSMN
- 1 BTC = up to 975 000 FSMN
- 30% bonus
- 2 000 000 000 FSMN. All unsold tokens will be burned.
- November 2018
- 1 ETH = up to 660 000 FSMN
- 1 BTC = up to 820 000 FSMN
- Up to 10% bonus
- Total coins at crowd sale 4 000 000 000 FSMN. All unsold tokens will be burned.
Parameters Of The ICO
- Token ticker – FSMN
- Accepts- BTC, ETH, Tron (TRX)
- Price- 1 FSMN= 0.000001 BTC ($0.01)
- Token supply- 10,000,000,000
- Hard cap- $10,000,000
- Community distribution- 70%
- Reserved funding- 15%
- Founders and Team- 9%
- Advisors- 3%
- Bounty campaign- 3%
- Product development- 57%
- Marketing, sales, merchant acquisition and partnerships- 19%
- Operations- 9%
- Legal- 6%
- Management- 9%