KexCoin, found online at Kexcoin.com, describes itself as a “property enabled currency”. Find out what that means today in our KexCoin review.
What Is KexCoin?
KexCoin is a blockchain-based token that can be used for real world purposes. Specifically, you can spend KexCoin at any KexCoin or Kexgill Group property, where it’s accepted as rent. In the future, KexCoin plans to be accepted at a wide variety of properties around the world.
One of the biggest complaints about cryptocurrency is that you can’t use it to pay for every real world expense – like paying rent. Most landlords aren’t going to accept digital currencies in exchange for rent. KexCoin aims to solve that problem.
KexCoin was created by Kexgill Group. Kexgill has 39 years of experience investing and growing a UK-based portfolio of properties. They’re best known for student accommodations across the UK. They have over £120 million in current assets. With the crowdsale, they’re seeking to buy more high-yield student properties across the country.
Kexgill sees an opportunity in the world of cryptocurrencies. The frictionless nature of crowdfunding using a cryptocurrency like bitcoin allows anyone to participate in the real estate market.
How Does KexCoin Work?
KexCoin wants to dramatically speed up the process of raising money to purchase student investment properties.
The currency itself is based on the BitShares blockchain. The funds raised through the sale of KexCoins will be used to purchase high-yielding student properties. These properties generate rental profits. Kexgill will buy back KexCoins from participants, then destroy the digital tokens. This will also increase the value of all remaining KexCoins.
In addition to using the sale of KexCoins to raise funds and purchase student properties, KexCoins will have a real-world use as a commodity. They’ll be accepted as rent at any KexCoin or Kexgill Group property. This function will be available from the moment the ICO closes.
It’s easy to see the advantages of a frictionless digital currency in the world of student accommodations. Many students come to Europe from international destinations. These students lose money by converting to local fiat currencies. A frictionless, transferable digital token could help students manage their accommodations more efficiently.
Kexgill has a long-term plan for KexCoins. The company plans to continue the ongoing process of buying back and burning coins over a 30 year period. At the expiry date in 2047, 50% of any asset gain in value of the investments purchased will be distributed pro rata to those remaining holders of KexCoin and the verified initial participants of the ICO.
The KexCoin Token Sale
There’s a total supply of 10 million KexCoins. The coins have been created prior to the ICO. Once the ICO is complete, the funds will be moved off the BitShares network and into a multi-signature bitcoin wallet (which requires 2 of 3 signatures for all transactions).
When the ICO launches, a public supply of 8.5 million KexCoins will be made available for sale on BitShares. The company aims to raise 21,250 BTC by selling 8.5 million KexCoins at a price of 0.0025 BTC each.
85% of the total supply of KexCoins is available through the token sale. 5% will be retained for contingencies, and 10% will be allocated to the core team (who will hold their KexCoins for a minimum of one year).
The crowdsale is scheduled for September 15 to October 15, 2017. From November 2017, property identification and purchases will be taking place.
Who’s Behind KexCoin?
KexCoin is led by UK-based Kexgill Group. Kexgill Group is owned by Dr. Michael Lee, who established Kexgill Ltd in 1978.
Kexgill Group has been recognized by Price Waterhouse Coopers as one of the best companies in the UK North East as part of the Private Business Awards in 2017, among other distinctions. The company maintains student accommodations in Leeds, Nottingham Trent, Manchester, Liverpool, and other cities and universities across the UK.
KexCoin is a combination of old school property professionals and cutting-edge blockchain technology. Made by a UK-based property company with nearly 40 years of experience, KexCoins will be used to finance property development projects across the UK. The tokens can also be used to pay for rent at Kexgill Group-managed properties across the United Kingdom. Today, the company maintains over 120 million in assets – including student accommodations in cities across the country.
To learn more about KexCoin, or to contribute to the crowdsale today, visit the organization online at KexCoin.com.